On Tuesday, Alumis Inc. (ALMS.US) skyrocketed more than 154% at the opening bell, reaching a record high of $20.60.

The surge followed the company's announcement of positive top-line results from the Phase 3 ONWARD1 and ONWARD2 clinical trials for its drug, envudeucitinib.

Envudeucitinib is a next-generation, highly selective oral tyrosine kinase 2 (TYK2) inhibitor intended for patients with moderate to severe plaque psoriasis.

In both the ONWARD1 and ONWARD2 trials, envudeucitinib met all primary and secondary endpoints with a high degree of statistical significance.

In these studies, envudeucitinib demonstrated significantly superior skin clearance compared to a placebo at the 16-week mark for the co-primary endpoints of Psoriasis Area and Severity Index (PASI) 75 and static Physician's Global Assessment (sPGA) 0/1 (p < 0.0001).

On average across the ONWARD1 and ONWARD2 trials, 74% of patients achieved PASI 75 and 59% achieved sPGA 0/1, with responses deepening over time.

Furthermore, the placebo-adjusted response rates for the co-primary endpoints were consistent between the two trials.