Alumis' lupus drug misses its Phase 2b goal, sending shares down over 50%, but a high-IFNGS subgroup shows a path toward Phase 3 talks with the FDA.

Though Alumis still sees a path forward in lupus, the result made its drug the latest TYK2 blocker to struggle in conditions beyond psoriasis and psoriatic arthritis.

Alumis' lupus drug misses its Phase 2b goal, sending shares down over 50%, but a high-IFNGS subgroup shows a path toward Phase 3 talks with the FDA.