Alumis Inc 2025年度报告

FORM10-K ANNUAL REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscalyear ended December31, 2025OR☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period fromtoCommission file number: 001-42143AlumisInc.(Exact name of registrant as specified in its charter) (I.R.S. Employer Identification Number) 280 East Grand AvenueSouth San Francisco, CA 94080(Address of Principal Executive Offices)(650) 231-6625(Registrant’s telephone number) Securities registered pursuant to Section12(b)of the Act: Name Of Each Exchange On Which Registered The Nasdaq Global Select Market Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule405 of the Securities Act.Yes☒No☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section15(d)of the Act. Yes☐No☒ Indicate by check mark whether the registrant:(1)has filed all reports required to be filed by Section13 or 15(d)of the Securities Exchange Act of 1934 during thepreceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements for the past90days. Yes☒No☐ Indicate by check mark whether the Registrant has submitted electronically; every Interactive Data File required to be submitted pursuant to Rule405 of Regulation S-T(§232.0405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growthcompany. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule12b-2 of theExchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revisedfinancial accounting standards provided pursuant to Section13(a)of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financialreporting under Section404(b)of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐ If securities are registered pursuant to Section12(b)of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect thecorrection of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of theregistrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Yes☐No☒ Based on the closing price as reported on the Nasdaq Global Select Market, the aggregate market value of the registrant’s voting and non-voting common stock held bynon-affiliates on June 30, 2025 (the last business day of the registrant’s most recently completed second fiscal quarter) was approximately $183.2 million. Shares ofcommon stock held by each executive officer and director and by each stockholder affiliated with a director or an executive officer have been excluded from thiscalculation because such persons may be deemed to be affiliates. This determination of affiliate status is not necessarily a conclusive determination for other purposes. Asof March 12, 2026, the registrant had 123,139,425 shares of voting common stock, $0.0001 par value per share, and 4,059,908 shares of non-voting common stock,$0.0001 par value per share, outstanding. Documents Incorporated by Reference TABLE OF CONTENTS PagePART IItem1. Business7Item1A. Risk Factors31Item1B. Unresolved Staff Comments94Item 1C. Cybersecurity94Item2. Properties95Item3. Legal Proceedings95Item4. Mine Safety Disclosures96PART IIItem5. Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases ofEquity Securities96Item6. [Reserved]97Item7. Management’s Discussion and Analysis of Financial Condition and Results of Operations98Item7A. Quantitative and Qualitative Disclosures About Market Risk116Item8. Financial Statements and Supplementary Data118Item9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure161Item9A. Controls and Procedures161Item9B. Other Information162Item9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections162PART IIIItem10. Directors, Executive Officers and Corporate Governance163Item11. Executive Compensation170Item12. Security Ownership of Certain Beneficial O