Alumis (ALMS) Merges with ACELYRIN

Alumis Inc. (NASDAQ:ALMS) is one of the 11 Best New Penny Stocks to Buy Right Now. On May 21, Alumis Inc. (NASDAQ:ALMS) reported that it has completed its merger with ACELYRIN, Inc.

As part of this transaction, each ACELYRIN shareholder will get 0.4814 shares of Alumis Inc. (NASDAQ:ALMS) common stock for every share of ACELYRIN they own. ACELYRIN has ceased trading.

Alumis (ALMS) Merges with ACELYRIN

A clinical researcher in a lab examining a new biopharmaceutical product.

Following this transaction, the company now has a much stronger balance sheet to support Alumis Inc. (NASDAQ:ALMS). This merger has created a leading clinical-stage immunology company with a diversified portfolio of product candidates.

Additionally, this merger allows Alumis Inc. (NASDAQ:ALMS) to move forward with its plans and advance its pipeline through planned key data readouts. The company now has a cash runway that extends into 2027.

Alumis Inc. (NASDAQ:ALMS) is a late-stage biopharma company focused on developing targeted therapies for a range of immune-mediated diseases.

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Disclosure: None. This article is originally published at Insider Monkey.