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Alumis stock plunges 57% after lupus drug trial fails, but psoriasis drug progress continues.

Market News
01 Sep 2026
Alex Lavoie
View Source
Bearish
Alumis stock plunges 57% after lupus drug trial fails, but psoriasis drug progress continues.

Alumis' stock dropped 56.58% after its Phase II lupus drug trial failed to meet main goals, causing a significant market reaction. However, positive results in a subgroup of lupus patients with a high interferon gene signature offer a potential path for future development. The company remains on track to submit a New Drug Application for its psoriasis treatment in Q4 2026, which supports some of its future value. An analyst lowered the price target from $35 to $27 amid these developments, with the stock trading at $9.47 per share at the time.

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