<SEC-DOCUMENT>0001104659-24-071910.txt : 20240726
<SEC-HEADER>0001104659-24-071910.hdr.sgml : 20240726
<ACCEPTANCE-DATETIME>20240614213310
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001104659-24-071910
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20240614

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALUMIS INC.
		CENTRAL INDEX KEY:			0001847367
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		280 EAST GRAND AVENUE
		CITY:			SOUTH SAN FRANCISCO
		STATE:			CA
		ZIP:			94080
		BUSINESS PHONE:		650-231-6625

	MAIL ADDRESS:	
		STREET 1:		280 EAST GRAND AVENUE
		CITY:			SOUTH SAN FRANCISCO
		STATE:			CA
		ZIP:			94080

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ESKER THERAPEUTICS, INC.
		DATE OF NAME CHANGE:	20230427

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FL2021-001, Inc.
		DATE OF NAME CHANGE:	20210222
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
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<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;<IMG SRC="tm2411163d9_correspimg001.jpg" ALT=""></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">BY EDGAR</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">David Peinsipp<BR>
T: (415) 693-2177<BR>
dpeinsipp@cooley.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>*FOIA Confidential Treatment Request*<BR>
Confidential Treatment Requested by ALUMIS INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>In connection with its Registration Statement
on Form&nbsp;S-1 (File No.&nbsp;333-280068)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">June&nbsp;14, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Office of Life Sciences</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">100 F Street, N.E.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 8%">Attention:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 92%">Jessica Dickerson</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Franklin Wyman</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Kevin Vaughn</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Tim Buchmiller</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 3%">Re:</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 97%">ALUMIS INC.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">Draft Registration Statement on Form&nbsp;S-1</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">Submitted on April&nbsp;11, 2024</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">CIK No.&nbsp;0001847367</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On behalf of ALUMIS INC.
(the &ldquo;Company&rdquo;), we submit this supplemental letter in response to comments from the staff (the &ldquo;Staff&rdquo;) of the
U.S. Securities and Exchange Commission (the &ldquo;Commission&rdquo;) received by letter dated May&nbsp;8, 2024 (the &ldquo;Initial
Comment Letter&rdquo;) regarding the above-referenced draft Registration Statement on Form&nbsp;S-1, as confidentially submitted to the
Commission on April&nbsp;11, 2024, resubmitted to the Commission on May&nbsp;15, 2023, and filed with the Commission on June&nbsp;7,
2024 (the &ldquo;Registration Statement&rdquo;). This supplemental letter addresses comment 11 of the Initial Comment Letter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Because of the commercially
sensitive nature of certain information contained herein, this supplemental letter is accompanied by the Company's request for confidential
treatment for selected portions of this supplemental letter. The Company has filed separate correspondence with the Office of Freedom
of Information and Privacy Act Operations in connection with its confidential treatment request, pursuant to Rule&nbsp;83 of the Commission's
Rules&nbsp;on Information and Requests, 17 C.F.R. &sect;200.83. For the Staff's reference, we have enclosed a copy of the Company's correspondence
to the Office of Freedom of Information and Privacy Act Operations, as well as an unredacted copy of this supplemental letter, marked
to show the portions redacted from the version filed via EDGAR and for which the Company is requesting confidential treatment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>The Company respectfully requests that the
bracketed information contained in this letter be treated as confidential information pursuant to Rule&nbsp;83 promulgated by the Commission,
17 C.F.R. &sect;200.83, and that the Commission provide timely notice to David Peinsipp at (415) 693-2177 before it permits any disclosure
of the bracketed information in this letter.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the convenience of the
Staff, we have recited the prior comment from the Initial Comment Letter in italicized type and have followed the comment with the Company's
response.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27.55pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131313"><I>11.</I></FONT></TD><TD STYLE="text-align: justify"><I>Once
                                            you have an estimated offering price or range, please explain to us the reasons for any differences
                                            between the recent valuations of your common stock leading up to the planned offering and
                                            the midpoint of your estimated offering price range. This information will help facilitate
                                            our review of your accounting for stock compensation.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOIA Confidential Treatment Requested by ALUMIS
INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Cooley LLP 3 Embarcadero Center 20th Floor San Francisco, CA 94111-4004<BR>
t: +1 415 693 2000 f: +1 415 693 2222 cooley.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<IMG SRC="tm2411163d9_correspimg001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Securities and Exchange Commission</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">June&nbsp;14, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;Two</P></TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: right">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company's discussion
of its accounting for stock-based compensation is primarily contained within the sections of the Registration Statement entitled &ldquo;Management's
Discussion and Analysis of Financial Condition and Results of Operations&mdash;Critical Accounting Policies and Significant Judgments
and Estimates&mdash;Stock-Based Compensation Expense and &ldquo;&mdash;Determination of Fair Value of Common Stock&rdquo; appearing on
pages&nbsp;99-100 of the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
Company submits the below additional information to assist the Staff in its review of the Company's position with respect to its determination
of the fair value of the shares of common stock underlying its outstanding equity awards and the reasons for the difference between the
recent valuations of the common stock and the estimated offering price for its initial public offering (the &ldquo;IPO&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>Stock Split</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Prior
to the filing of the Registration Statement in connection with the launch of the Company&rsquo;s road show, the Company will conduct
a reverse stock split (the &ldquo;Stock Split&rdquo;) of its common stock (currently anticipated to be at a ratio of 1-for-[***]). Each
share of the Company&rsquo;s common stock and each option to purchase its common stock that is issued and outstanding immediately prior
to the effective date of the stock split will become [***] shares, with the option exercise price being adjusted proportionally. The
conversion rate of the Company&rsquo;s outstanding shares of preferred stock will adjust accordingly to reflect the as-converted adjustments
to the common stock. Unless noted otherwise, all references to share and per share amounts in this memo does not give effect to the proposed
stock split.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>Preliminary IPO Price Range</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
Company advises the Staff that it preliminarily estimates a price range of approximately $[***] to $[***] per share (the &ldquo;Preliminary
Price Range&rdquo;) of the Company&rsquo;s common stock for its IPO. The Preliminary Price Range does not reflect the impact of Stock
Split. On a post-reverse stock split basis, the Preliminary Price Range is estimated to be $[***] to $[***] per share. The Preliminary
Price Range does not take into account the current lack of liquidity for the Company&rsquo;s common stock and assumes a successful IPO,
with no weighting attributed to any other outcome for the Company&rsquo;s business, such as remaining as a privately held company or
being sold in a change of control transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As is typical in IPOs, the
Preliminary Price Range was not derived using a formal determination of fair value but was determined through discussions among the board
of directors of the Company (the &ldquo;Board&rdquo;), senior management of the Company and the lead underwriters for its IPO. Among
the factors (the &ldquo;Price Range Factors&rdquo;) that were considered in estimating the Preliminary Price Range were the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the Company's financial
                                            position and prospects;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">an
                                            analysis of the typical valuation ranges seen in recent IPOs for comparable companies in
                                            the Company's industry;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the
                                            general conditions of the securities market and the recent market prices of, and the demand
                                            for, publicly traded common stock of comparable companies; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">feedback
                                            from potential investors following &ldquo;testing the waters&rdquo; meetings that occurred
                                            from March&nbsp;through June&nbsp;2024, which suggested that there was investor&rsquo; interest
                                            in the Company at a step-up in valuation from its last private financing round.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOIA Confidential Treatment Requested by ALUMIS
INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Cooley LLP 3 Embarcadero Center 20th Floor San Francisco, CA 94111-4004<BR>
t: +1 415 693 2000 f: +1 415 693 2222 cooley.com</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<IMG SRC="tm2411163d9_correspimg001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Securities and Exchange Commission</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">June&nbsp;14, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;Three</P></TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: right">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The actual bona fide price
range to be included in the Registration Statement has not yet been determined and remains subject to adjustment based on further discussions
between the Company and the lead underwriters, developments in the Company's business, market conditions and other factors that are outside
of the Company's control. However, the Company believes that the actual bona fide price range will be within the Preliminary Price Range.
In addition, the actual bona fide price range to be included in the Registration Statement will be reflected in an amendment to the Registration
Statement that will be filed before the commencement of the road show and will comply with the Staff's interpretations regarding the
permissible parameters of a bona fide price range.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B><I>Summary of Recent Equity Awards</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table summarizes
by grant date the number of stock options granted by the Company since January&nbsp;1, 2023, the exercise price per share of common stock
underlying the stock options and the estimated fair value of a share of common stock on each grant date:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; width: 43%; text-align: center">Grant Date</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; width: 17%; text-align: center">Number
    of<BR> Shares<BR> Underlying<BR> Equity Awards</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; width: 17%; text-align: center">Exercise
    <BR> Price<BR> Per&nbsp;Share</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; width: 17%; text-align: center">Estimated&nbsp;Common<BR>
    Stock<BR> Fair Value<BR> Per Share<BR> on Date of Grant</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">February&nbsp;10, 2023*</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">March&nbsp;13, 2023*</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">June&nbsp;22, 2023*</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">July&nbsp;18, 2023*</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">August&nbsp;7, 2023*</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">October&nbsp;9, 2023*</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">December&nbsp;11, 2023*</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">March&nbsp;29, 2024*</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">May&nbsp;6, 2024*</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">June&nbsp;6, 2024</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD></TR>
  </TABLE>


<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*
</FONT>The estimated common stock fair value for grants from February&nbsp;2023 to May&nbsp;2024 was interpolated on a straight-line
basis between the valuation reports&rsquo; dates in connection with a fair value assessment for accounting purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">No other stock options or stock-based awards have
been approved by the Board from January&nbsp;1, 2023, through the date of this supplemental letter and the Company does not expect to
make any additional grants prior to the completion of its IPO other than grants that would become effective at the pricing of the IPO
and granted at the IPO price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Determination of Common Stock Fair Value Prior to IPO</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
there has been no public market for the Company&rsquo;s common stock to date, the estimated fair value of the </FONT>common stock underlying
the Company&rsquo;s stock option awards has been determined by the Board as of each option grant date with input from management, considering
the most recently available third-party valuations of common stock and the Board&rsquo;s assessment of additional objective and subjective
factors that it believed were relevant and which may have changed from the date of the most recent valuation through the date of the
grant. The Company, specifically the Board, assumed responsibility for the estimates of fair value of its common stock in the consolidated
financial statements. The Company utilized methodologies, approaches and assumptions consistent with the American Institute of Certified
Public Accountants&rsquo; <I>Accounting and Valuation Guide, Valuation of Privately-Held-Company Equity Securities Issued as Compensation
</I>(the &ldquo;Practice Aid&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOIA Confidential Treatment Requested by ALUMIS
INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Cooley LLP 3 Embarcadero Center 20th Floor San
Francisco, CA 94111-4004<BR>
t: +1 415 693 2000 f: +1 415 693 2222 cooley.com</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<IMG SRC="tm2411163d9_correspimg001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Securities and Exchange Commission</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">June&nbsp;14, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;Four</P></TD>
    <TD STYLE="width: 50%; text-align: right">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Prior to May&nbsp;2023, the
Company utilized an Option Pricing Method (&ldquo;OPM&rdquo;) based analysis, primarily the OPM backsolve methodology, to determine the
estimated fair value of the common stock. Within the OPM framework, the backsolve method, for inferring the total equity value implied
by a recent financing transaction or by an estimated equity value of the Company&rsquo;s pipeline product candidates, involves the construction
of an allocation model that takes into account the Company&rsquo;s capital structure and the rights, preferences and privileges of each
class of stock, then assumes reasonable inputs for the other OPM variables (expected time to liquidity, volatility, and risk-free rate).
The total equity value is then iterated in the model until the model output value for the equity class sold in a recent financing round
equals the price paid in that round. The OPM is generally utilized when specific future liquidity events are difficult to forecast (i.e.,
the enterprise has many choices and options available), and the enterprise&rsquo;s value depends on how well it follows an uncharted
path through the various possible opportunities and challenges. In determining the estimated fair value of the common stock, the board
of directors also considered the fact that the stockholders could not freely trade the common stock in the public markets. Accordingly,
the Company applied discounts to reflect the lack of marketability of its common stock based on the weighted-average expected time to
liquidity. The estimated fair value of the common stock at each grant date reflected a non-marketability discount partially based on
the anticipated likelihood and timing of a future liquidity event.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For valuations performed
on and after May&nbsp;2023, the Company utilized a hybrid method that combines the Probability-Weighted Expected Return Method (&ldquo;PWERM&rdquo;),
an accepted valuation method described in the Practice Aid, and the OPM. The Company determined this was the most appropriate method
for determining the fair value of its common stock based on the stage of development and other relevant factors. The PWERM is a scenario-based
analysis that estimates the value per share of common stock based on the probability-weighted present value of expected future equity
values for the common stock, under various possible future liquidity event scenarios, considering the rights and preferences of each
class of shares, discounted for a lack of marketability. Under the hybrid method, an option pricing model was utilized to determine the
fair value of the Company&rsquo;s common stock in certain of the PWERM scenarios (capturing situations where its development path and
future liquidity events were difficult to forecast), potential exit events were explicitly modeled in the other PWERM scenarios. A discount
for lack of marketability was applied to the value derived under each scenario to account for a lack of access to an active public market
to estimate the common stock fair value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table summarizes
the dates of these independent third-party valuations and the suggested fair value per share of common stock and total estimated equity
value of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; width: 46%; text-align: left">Valuation
    Date as of</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; width: 25%; text-align: center">Estimated
    Fair Market Value per<BR> share of Common Stock</TD><TD STYLE="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 25%; font-size: 10pt; font-weight: bold; text-align: center">Estimated
    Equity Value <BR> (in millions)**</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">December&nbsp;17, 2022</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">May&nbsp;9, 2023</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">June&nbsp;30, 2023*</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">September&nbsp;20, 2023</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">March&nbsp;4, 2024</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">March&nbsp;4, 2024*</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">April&nbsp;1, 2024</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">May&nbsp;29, 2024</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">[***]</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOIA Confidential Treatment Requested by ALUMIS
INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Cooley LLP 3 Embarcadero Center 20th Floor San Francisco, CA 94111-4004<BR>
t: +1 415 693 2000 f: +1 415 693 2222 cooley.com</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"></P>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><IMG SRC="tm2411163d9_correspimg001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Securities and Exchange Commission</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">June&nbsp;14, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;Five</P></TD>
    <TD STYLE="width: 50%; text-align: right">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">* June&nbsp;30, 2023
and March&nbsp;4, 2024 valuation reports were prepared by the third-party valuation specialist for accounting purposes only based on
the retrospective review of the valuations completed and approved by the Board and considering accounting for subsequent tranches included
in Series&nbsp;B-2 and Series&nbsp;C preferred stock financings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">**Estimated equity value
is calculated based on probabilities weighting of the IPO scenario and staying private scenario valuations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For options that were granted
between valuation report issuance dates, the Board considered the amount of time that had passed since the last valuation and assessed
if there had been any significant changes to the estimated fair value of the Company&rsquo;s common stock since the date of the last
valuation. In addition to considering the results of independent third-party valuations, the Board considered various objective and subjective
factors to determine the fair value of the common stock as of each grant date, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the prices at which the Company sold shares of its
                                            preferred stock and the superior rights, preferences, and privileges of its preferred stock
                                            relative to those of the common stock at the time of each grant;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the progress of research and development programs,
                                            including the status of preclinical studies and clinical trials for the Company&rsquo;s product
                                            candidates;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the stage of development and business strategy, and
                                            material risks related to the Company&rsquo;s business;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>external market conditions affecting the biotechnology
                                            industry and trends within the biotechnology industry;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the competitive landscape for the Company&rsquo;s
                                            product candidates;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the Company&rsquo;s financial position, including
                                            cash on hand, and its historical and forecasted performance and operating results;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the lack of an active public market for the common
                                            stock and its preferred stock;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the likelihood of achieving a liquidity event, such
                                            as an IPO or a sale of the Company, given prevailing market conditions; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>general economic conditions.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The assumptions underlying
these valuations represented management&rsquo;s best estimate, which involved inherent uncertainties and the application of management&rsquo;s
judgment. As a result, if the Company had used significantly different assumptions or estimates, the fair value of the common stock and
the stock-based compensation expense could be materially different. At each of the grant dates identified in the table above, the Board
did not believe there were any significant individual events that should have resulted in a significant increase in the fair value of
the Company&rsquo;s common stock when those options were granted, from the estimated fair value of its common stock in the latest valuation
report. As a result, the Company determined that it was appropriate to utilize the previously determined fair value for all grants made
prior to a subsequent valuation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Once a public trading market
for the common stock has been established in connection with the completion of the IPO, it will no longer be necessary for the Board
to estimate the fair value of the common stock in connection with accounting for granted stock options and other equity awards the Company
may grant, as the fair value of the common stock will be based on the quoted market price of the common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B><I>December&nbsp;17, 2022 Valuation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company, with the assistance of a third-party valuation firm, performed a valuation of the Company&rsquo;s shares of common stock as
of December&nbsp;17, 2022. In considering valuation approaches, the Company relied on the OPM backsolve method, which was deemed an appropriate
methodology to use based on the Company&rsquo;s stage of development, expected next financing timelines and other relevant factors. The
Company used two approaches to estimate the Company&rsquo;s equity value. The first approach was based on the latest round of Series&nbsp;B
preferred stock financing closed in December&nbsp;2021 and adjusted for the change in the peer public biotech companies market valuations
from December&nbsp;2021 to December&nbsp;2022, which resulted in the equity value of $</FONT>[***] million. The second approach to estimate
equity value was based on the product candidates pipeline valuation, which was developed using comparable biotech public companies market
values per product candidate adjusted for a stage of candidate&rsquo;s development, which resulted in an estimated equity value of $[***]
million. The estimated equity value was concluded $[***] million after equally weighing both approaches. The Company then applied the
OPM methodology to allocate calculated equity value to outstanding equity securities. The Company selected [***] years expected time
to liquidity based on the management expectation of the timing of the next round of financing, [***]% risk-free rate, and [***]% volatility
based on an analysis of historical equity and asset volatilities of the Company&rsquo;s peer group. Employing the assumptions discussed
above, the fair value for the Company&rsquo;s common stock was estimated as $[***] per share on a minority, marketable basis. As the
Company&rsquo;s shares were not freely tradeable, the Company estimated a discount for lack of marketability (the &ldquo;DLOM&rdquo;)
of [***]% or $[***] per share using the put option models, such as Finnerty Model, Ghaidarov Put Model and Protective Put Model, and
the restricted stock study comparative analysis, which was then applied to the common stock, resulting in a fair value of $[***] per
share (the &ldquo;December&nbsp;2022 Valuation&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOIA Confidential Treatment Requested by ALUMIS
INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Cooley LLP 3 Embarcadero Center 20th Floor San Francisco, CA 94111-4004<BR>
t: +1 415 693 2000 f: +1 415 693 2222 cooley.com</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Securities and Exchange Commission</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">June&nbsp;14, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;Six</P></TD>
    <TD STYLE="width: 50%; text-align: right">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><I>February&nbsp;and March&nbsp;2023 Grants</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
February&nbsp;and March&nbsp;2023, the Board granted options to purchase </FONT>[***] and [***] shares of common stock, respectively,
with an exercise price of $[***] per share, which was the most recent available common stock fair value at each grant date. In determining
the fair value of the Company&rsquo;s common stock, the Board considered the December&nbsp;2022 Valuation. The Board determined that
there were no significant changes from December&nbsp;2022 to February&nbsp;and March&nbsp;2023 that would significantly impact the valuation
of the Company and the value of its common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
financial reporting purposes, the Company used an interpolated fair value of the common stock from the December&nbsp;2022 Valuation to
the June&nbsp;2023 Valuation (see below). Interpolated fair values were estimated at $</FONT>[***] per share for the February&nbsp;2023
grants and $[***] per share for the March&nbsp;2023 grants. The Company was continuing its clinical progress and closed Series&nbsp;B-2
preferred stock financing in May&nbsp;2023. These positive internal trends at the Company were offset by the negative market trends,
as such straight-line interpolation was considered appropriate to show progress that the Company&rsquo;s was making towards its product
development and business plans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B><I>May&nbsp;9, 2023 Valuation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company, with the assistance of a third-party valuation firm, performed a valuation of the Company&rsquo;s shares of common stock as
of May&nbsp;9, 2023. In considering valuation approaches, the Company relied on the OPM backsolve method, which was deemed an appropriate
methodology to use </FONT>based on the Company&rsquo;s stage of development, expected next financing timelines and other relevant factors.
The Company closed Series&nbsp;B-2 financing in May&nbsp;2023, but only existing investors participated in this financing and there was
no increase in the implied equity value from the Series&nbsp;B preferred stock financing closed in December&nbsp;2021. The Company concluded
that applying the product candidates&rsquo; pipeline valuation was the most appropriate indication of the Company&rsquo;s equity value.
This method was based on the comparable biotech public companies market value analysis per product candidate adjusted for a stage of
candidate&rsquo;s development and resulted in an estimated equity value of $[***] million. The Company then used the OPM methodology
to allocate equity value to outstanding equity securities. The Company selected [***] years expected time to liquidity based on the management
expectation of the timing of the next round of financing, [***]% risk-free rate, and [***]% volatility based on an analysis of historical
equity and asset volatilities of the Company&rsquo;s peer group. The Company estimated the fair value of $[***] per share of the common
stock on a minority, marketable basis. As the Company&rsquo;s shares were not freely tradeable, the Company estimated a DLOM of [***]%
or $[***] using the put option models, such as Finnerty Model, Ghaidarov Put Model and Protective Put Model, and the restricted stock
study comparative analysis, which was then applied to the common stock, resulting in a fair value of $[***] per share (the &ldquo;May&nbsp;2023
Valuation&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOIA Confidential Treatment Requested by ALUMIS
INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Cooley LLP 3 Embarcadero Center 20th Floor San Francisco, CA 94111-4004<BR>
t: +1 415 693 2000 f: +1 415 693 2222 cooley.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Securities and Exchange Commission</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">June&nbsp;14, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;Seven</P></TD>
    <TD STYLE="width: 50%; text-align: right">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B><I>June&nbsp;30, 2023 Valuation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
performing retrospective review of valuation reports for financial reporting purposes, the management noted that in June&nbsp;2023, the
Company was planning to go public within 18 months and was preparing for the organizational meeting to kick-off its IPO process. The
Company engaged a third-party valuation firm to perform the valuation of the Company&rsquo;s common stock as of June&nbsp;30, 2023, which
was only used for financial reporting purposes. Given the expectation of the liquidity event taking place within </FONT>[***] months
from the valuation date, the Company utilized the hybrid method to estimate the fair value of the Company&rsquo;s common stock which
included PWERM and OPM allocation methodologies for the IPO and the staying private scenarios, respectively. The Company considered two
scenarios: an IPO taking place in [***] (the &ldquo;IPO&rdquo; scenario) with [***]% probability and the remaining private scenario (the
 &ldquo;Remain Private&rdquo; scenario) with [***]% probability. Management estimated that the future IPO value for the Company&rsquo;s
equity would be approximately $[***] million pre-IPO proceeds, based on IPO data for IPO transactions in the U.S for the last three years
with an offering size of $[***] million and more in the biotechnology industry. A variety of companies that are similar to the Company
were considered, including relevant companies to which the Company was expected to be compared to. These values were discounted to the
valuation date using a [***]% discount rate and resulted in the estimated common stock fair value of $[***] per share in the IPO scenario.
For the Remain Private scenario, management used the OPM methodology. In developing a conclusion of the Company&rsquo;s equity value
under the Remain Private scenario, the Company used the pipeline valuations of similar product candidates based on the comparable biotech
public companies market value analysis per product candidate adjusted for a stage of candidate&rsquo;s development, which resulted in
the equity value of $[***] million. To arrive at the common stock fair value under the Remain Private scenario, management used a [***]%
risk-free rate, [***]% volatility based on an analysis of historical equity and asset volatilities of the Company&rsquo;s peer group
and [***] year term to an expected liquidity event. The Remain Private scenario resulted in a fair value of $[***] per common stock share
on a minority, marketable basis. In determining the estimated common stock fair value, the management also considered the fact that the
Company&rsquo;s shares were not freely traded in the public markets. Accordingly, the Company calculated the DLOM of [***]% and [***]%
for the IPO and the Remain Private scenarios, respectively, using the put option models, such as Finnerty Model, Ghaidarov Put Model
and Protective Put Model, and the restricted stock study comparative analysis. The fair value of $[***] per share of common stock was
determined after weighing each scenario and applying the relevant DLOM (the &ldquo;June&nbsp;2023 Valuation&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The primary factors that
resulted in an increase in the estimated fair value of the common stock from December&nbsp;2022 to June&nbsp;2023 were decisions related
to the IPO timing and selection of bankers and continued execution of the Company&rsquo;s business objectives. The Company changed the
valuation methodology from OPM to PWERM, which introduced higher value in the IPO scenario.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><I>June, July&nbsp;and August&nbsp;2023 Grants</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
June, July&nbsp;and August&nbsp;2023, the Board granted options to purchase </FONT>[***], [***] and [***] shares of common stock, respectively,
with an exercise price of $[***] per share, which was the most recent available common stock fair value at each grant date. In determining
the fair value of the Company&rsquo;s common stock, the Board considered the May&nbsp;2023 Valuation. The Board determined that there
were no significant changes from May&nbsp;2023 to June, July&nbsp;and August&nbsp;2023 that would significantly impact the valuation
of the Company and the fair value of its common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOIA Confidential Treatment Requested by ALUMIS
INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Cooley LLP 3 Embarcadero Center 20th Floor San Francisco, CA 94111-4004<BR>
t: +1 415 693 2000 f: +1 415 693 2222 cooley.com</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Securities and Exchange Commission</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">June&nbsp;14, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;Eight</P></TD>
    <TD STYLE="width: 50%; text-align: right">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
financial reporting purposes, the Company used an interpolated fair value of the common stock from the December&nbsp;2022 Valuation to
the June&nbsp;2023 Valuation for options granted in June&nbsp;2023, and from the June&nbsp;2023 Valuation to September&nbsp;2023 Valuation
(see below) for optioned granted in July&nbsp;and August&nbsp;2023. Interpolated fair values were estimated at $</FONT>[***] per share
for the June&nbsp;2023 grants, $[***] per share for the July&nbsp;2023 grants and $[***] per share for the August&nbsp;2023 grants. The
Company believes that a linear interpolation was appropriate, as there were no significant events between the valuations&rsquo; dates
that would cause the fair value of the common stock to significantly change, except the Company&rsquo;s progress towards its potential
IPO.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B><I>September&nbsp;20, 2023 Valuation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company, with the assistance of a third-party valuation firm, performed a valuation of the Company&rsquo;s shares of common stock as
of September&nbsp;20, 2023. The Company utilized the hybrid method to estimate the fair value of the Company&rsquo;s common stock which
included PWERM and OPM allocation methodologies for the IPO and the staying private scenarios, respectively. The Company considered two
scenarios: an IPO scenario, which was expected to take place in </FONT>[***] with [***]% probability, and the Remain Private scenario
with [***]% probability. Management estimated that the future IPO value for the Company&rsquo;s equity would be approximately $[***]
million pre-IPO proceeds, based on IPO data for IPO transactions in the U.S for the last three years with an offering size of $[***]
million and more in the biotechnology industry. A variety of companies that are similar to the Company were considered, including relevant
companies to which the Company was expected to be compared to. This value was discounted to the valuation date using [***]% discount
rate and resulted in the estimated common stock fair value of $[***] per share in the IPO scenario. For the Remain Private scenario,
management used the OPM methodology. In developing a conclusion of the Company&rsquo;s equity value under the Remain Private scenario,
the Company applied the product candidates pipeline valuation approach, based on the comparable biotech public companies market values
per candidate adjusted to a stage of a candidate&rsquo;s development, which resulted in an estimated equity fair value of $[***] million.
To arrive at the common stock fair value under the Remain Private scenario, management used a [***]% risk-free rate, [***]% volatility
based on an analysis of historical equity and asset volatilities of the Company&rsquo;s peer group and [***] year expected time to a
liquidity event. In determining the estimated common stock fair value, the management and the third-party valuation firm also considered
the fact that the Company&rsquo;s shares were not freely traded in the public markets. Accordingly, the Company calculated the DLOM of
[***]% and [***]% for the IPO and the Remain Private scenarios, respectively, using the options pricing models, such as the Finnerty
Model, Ghaidarov Put Model and Protective Put Model, and the restricted stock study comparative analysis. The Company&rsquo;s estimated
common stock fair value of $[***] per share was determined after weighing each scenario and applying the relevant DLOM (the &ldquo;September&nbsp;2023
Valuation&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The primary factors that
resulted in an increase in the estimated fair value of the common stock from June&nbsp;2023 to September&nbsp;2023 were continued progress
towards a potential IPO, higher weights given to IPO scenario, continued progress of the Company&rsquo;s research and development programs
and continued execution of the Company&rsquo;s business objectives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><I>October&nbsp;and December&nbsp;2023 Grants</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
October&nbsp;and December&nbsp;2023, the Board granted options to purchase </FONT>[***] and [***] shares of common stock, respectively,
with an exercise price of $[***] per share, which was the most recent available common stock fair value at each grant date. In determining
the fair value of the Company&rsquo;s common stock, the Board considered the September&nbsp;2023 Valuation. The Board determined that
there were no significant changes from September&nbsp;2023 to October&nbsp;and December&nbsp;2023 that would significantly impact the
valuation of the Company and the value of its common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOIA Confidential Treatment Requested by ALUMIS
INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Cooley LLP 3 Embarcadero Center 20th Floor San Francisco, CA 94111-4004<BR>
t: +1 415 693 2000 f: +1 415 693 2222 cooley.com</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Securities and Exchange Commission</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">June&nbsp;14, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;Nine</P></TD>
    <TD STYLE="width: 50%; text-align: right">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
financial reporting purposes, the Company used an interpolated fair value of the common stock from the September&nbsp;2023 Valuation
and the March&nbsp;2024 Valuation (see below). Interpolated common stock fair values were $</FONT>[***] per share and $[***] per share
for October&nbsp;and December&nbsp;2023 grants, respectively. The Company monitored market conditions and by December&nbsp;2023, the
IPO project was on hold. To finance the Company&rsquo;s operations, the Company closed the second tranche Series&nbsp;B-2 preferred stock
financing in October&nbsp;2023 and the management considered alternative options to the IPO, including raising additional private financing.
In March&nbsp;2024, the Company closed Series&nbsp;C preferred stock financing at a significantly lower valuation than Series&nbsp;B-2
and Series&nbsp;B preferred stock financing. As such, a decrease in common stock fair value from September&nbsp;2023 to March&nbsp;2024
was reasonable and based on internal progress and external market conditions and resulted in lower March&nbsp;2024 Valuation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B><I>March&nbsp;4, 2024 Valuation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company, with the assistance of a third-party valuation firm, performed a valuation of the Company&rsquo;s shares of common stock as
of March&nbsp;4, 2024. On March&nbsp;4, 2024, the Company closed Series&nbsp;C preferred stock financing and received gross proceeds
of $</FONT>[***] million from existing and new investors. Series&nbsp;C financing also included two options to raise the second tranche
Series&nbsp;C financing for a total of up to $[***] million. The Company used two scenarios: an IPO scenario with the closing date in
[***] and [***]% probability, and the Remain Private scenario with [***]% probability. For both scenarios, given the new Series&nbsp;C
preferred stock financing and new participating investors, the Company estimated its equity value using a backsolve valuation methodology.
The backsolve analysis performed resulted in an equity value of $[***] million. The Company then used the OPM model to estimate the fair
value of common stock of $[***] per share in the IPO scenario with the following assumptions: [***]% risk-free rate, [***]% volatility
and [***] years expected time to the IPO. For the Remain Private scenario, the common stock fair value of $[***] per share was estimated
using the OPM model with the following assumptions: a [***]% risk-free rate, [***]% volatility based on an analysis of historical equity
and asset volatilities of the Company&rsquo;s peer group and [***] year expected time to a liquidity event. As the Company&rsquo;s shares
were not freely traded in the public markets, the Company calculated the DLOM of [***]% and [***]% for the IPO and the Remain Private
scenarios, respectively, using the option pricing models, such as the Finnerty Model, Ghaidarov Put Model and Protective Put Model, and
the restricted stock study comparative analysis. The Company&rsquo;s estimated common stock fair value of $[***] per share was determined
after weighing each scenario and applying the relevant DLOM (the &ldquo;March&nbsp;2024 Valuation&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B><I>March&nbsp;4, 2024 Updated Valuation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">After
the Company finalized its accounting for the Series&nbsp;C preferred stock financing, which included derivative liabilities, it noted
that its March&nbsp;2024 Valuation required to be updated for financial reporting purposes. As such, the Company engaged a third-party
valuation firm to prepare new valuation as of March&nbsp;4, 2024 (the &ldquo;March&nbsp;2024 Updated Valuation&rdquo;). The new valuation
included the same two scenarios the IPO scenario closing in </FONT>[***] with [***]% probability and the Remain Private scenario with
[***]% probability. The fair value of the Company&rsquo;s common stock was estimated based on the hybrid model, which included PWERM
and OPM allocation methodologies for the IPO and the Remain Private scenarios, respectively. Management estimated that the future IPO
value for the Company&rsquo;s equity would be approximately $[***] million pre-IPO proceeds, using the IPO data for biotechnology companies
that went public in the last three years and by calculating and applying an average step-up multiple to the most recent round of preferred
financing to these companies IPO value. The step-up multiple was estimated as [***]X to the Series&nbsp;C preferred stock financing of
the Company. A variety of companies that are similar to the Company were considered, including relevant companies to which the Company
was expected to be compared to. This value was discounted to the valuation date using a [***]% discount rate and resulted in the estimated
common stock fair value of $[***] per share in the IPO scenario. For the Remain Private scenario, management used the OPM methodology.
In developing a conclusion of the Company&rsquo;s equity value under the Remain Private scenario, the Company used the backsolve to Series&nbsp;C
preferred stock financing, adjusted for the fair value of derivative liabilities, which resulted in the equity value of $[***] million.
To arrive at the common stock fair value under the Remain Private scenario, management used a [***]% risk-free rate, [***]% volatility
based on an analysis of historical equity and asset volatilities of the Company&rsquo;s peer group and [***] year term to an expected
liquidity event. The Remain Private scenario resulted in a fair value of $[***] per common stock share on a minority, marketable basis.
In determining the estimated common stock fair value, the management also considered the fact that the Company&rsquo;s shares were not
freely traded in the public markets. Accordingly, the Company calculated the DLOM of [***]% and [***]% for the IPO and the Remain Private
scenarios, respectively, using the put option models, such as Finnerty Model, Ghaidarov Put Model and Protective Put Model, and the restricted
stock study comparative analysis. The fair value of $[***] per share of common stock was determined after weighing each scenario and
applying the relevant DLOM (the &ldquo;March&nbsp;2024 Updated Valuation&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOIA Confidential Treatment Requested by ALUMIS
INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Cooley LLP 3 Embarcadero Center 20th Floor San Francisco, CA 94111-4004<BR>
t: +1 415 693 2000 f: +1 415 693 2222 cooley.com</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="tm2411163d9_correspimg001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Securities and Exchange Commission</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">June&nbsp;14, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;Ten</P></TD>
    <TD STYLE="width: 50%; text-align: right">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The primary factors that
resulted in a decrease in the estimated fair value of the common stock from September&nbsp;2023 to March&nbsp;2024 was the Series&nbsp;C
financing received from the existing and new investors in March&nbsp;2024 at a significantly lower equity valuation, which resulted in
lower equity values in the IPO scenario and in the Remain Private scenario if adjusted for the Series&nbsp;C cash proceeds (pre-Series&nbsp;C).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><I>March&nbsp;2024 Grants</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
March&nbsp;2024, the Board granted options to purchase </FONT>[***] shares of common stock with exercise price of $[***] per share, which
was the most recent available common stock fair value at grant date. In determining the fair value of the Company&rsquo;s common stock,
the Board considered the March&nbsp;2024 Valuation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
financial reporting purposes, the Company used an interpolated fair value of the common stock from the March&nbsp;2024 Updated Valuation
to the April&nbsp;2024 Valuation (see below). The Company was required to update its valuation for derivative liabilities fair value
as of March&nbsp;31, 2024, as such the Company engaged a third-party valuation firm to prepare April&nbsp;1, 2024 valuation. Interpolated
fair value was estimated at $</FONT>[***] per share for the March&nbsp;2024 grants. The Company believes that a linear interpolation
was appropriate, as there were no other events between the valuations dates that would cause the fair value of the common stock to significantly
change except progress in the IPO process.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B><I>April&nbsp;1, 2024 Valuation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company, with the assistance of a third-party valuation firm, performed a valuation of the Company&rsquo;s shares of common stock as
of April&nbsp;1, 2024. The Company utilized the hybrid method to estimate the fair value of the Company&rsquo;s common stock, which included
PWERM and OPM allocation methodologies for the IPO and the staying private scenarios, respectively. The Company considered two scenarios:
an IPO scenario which was expected to close in </FONT>[***] with [***]% probability and the Remain Private scenario with [***]% probability.
In determining the probability of an IPO scenario, the Company assumed that the Registration Statement would be confidentially submitted
to the SEC in [***]. Management estimated that the future IPO value for the Company&rsquo;s equity would be approximately $[***] million
pre-IPO proceeds, using the IPO data for biotechnology companies that went public in the last three years and by calculating and applying
an average step-up multiple to the most recent round of preferred financing to these companies IPO value. The step-up multiple was estimated
as [***]X to the Series&nbsp;C preferred stock financing of the Company. A variety of companies that are similar to the Company were
considered, including relevant companies to which the Company was expected to be compared to. This value was discounted to the valuation
date using a [***]% discount rate and resulted in the estimated common stock fair value of $[***] per share in the IPO scenario. For
the Remain Private scenario, management used the OPM methodology. In developing a conclusion of the Company&rsquo;s equity value under
the Remain Private Scenario, the Company used the backsolve method to the valuation of the Series&nbsp;C preferred stock issued in the
financing, adjusted for the fair value of derivative liabilities, which resulted in the equity value of $[***] million. To arrive at
the common stock fair value under the Remain Private scenario, management used a [***]% risk-free rate, [***]% volatility based on an
analysis of historical equity and asset volatilities of the Company&rsquo;s peer group and [***] year term to an expected liquidity event.
The Remain Private scenario resulted in a fair value of $[***] per common stock share on a minority, marketable basis. In determining
the estimated common stock fair value, the management also considered the fact that the Company&rsquo;s shares were not freely traded
in the public markets. Accordingly, the Company calculated the DLOM of [***]% and [***]% for the IPO and the Remain Private scenarios,
respectively, using the put option models, such as Finnerty Model, Ghaidarov Put Model and Protective Put Model, and the restricted stock
study comparative analysis. The fair value of $[***] per share of common stock was determined after weighing each scenario and applying
the relevant DLOM (the &ldquo;April&nbsp;2024 Valuation&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOIA Confidential Treatment Requested by ALUMIS
INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Cooley LLP 3 Embarcadero Center 20th Floor San Francisco, CA 94111-4004<BR>
t: +1 415 693 2000 f: +1 415 693 2222 cooley.com</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="tm2411163d9_correspimg001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Securities and Exchange Commission</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">June&nbsp;14, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;Eleven</P></TD>
    <TD STYLE="width: 50%; text-align: right">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
primary factor that resulted in an increase in the estimated fair value of the common stock from March&nbsp;2024 to April&nbsp;2024 was
the increase in the probability of the IPO scenario from </FONT>[***]% in March&nbsp;2024 to [***]% in April&nbsp;2024, as the Company
had held an IPO organizational meeting on [***] and also assumed the Registration Statement would be confidentially submitted to the
SEC in [***].</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><I>May&nbsp;2024 Grants</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
May&nbsp;2024, the Board granted options to purchase </FONT>[***] shares of common stock, with an exercise price of $[***] per share,
which was the most recent available common stock fair value, the April&nbsp;2024 Valuation. For financial reporting purposes, the Company
used an interpolated fair value of the common stock from the April&nbsp;2024 Valuation and the May&nbsp;2024 Valuation (see below). The
interpolated common stock fair value was $[***] per share. The Company continued progressing through the IPO process and also closed
second tranche Series&nbsp;C financing on May&nbsp;29, 2024, as such, straight-line interpolation between two valuation dates was reasonable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B><I>May&nbsp;29, 2024 Valuation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company, with the assistance of a third-party valuation firm, performed a valuation of the Company&rsquo;s shares of common stock as
of May&nbsp;29, 2024. On May&nbsp;29, 2024, the Company closed second tranche Series&nbsp;C financing and received $</FONT>[***] million
gross proceeds and the derivative liabilities were settled. The Company utilized the hybrid method to estimate the fair value of the
Company&rsquo;s common stock, which included PWERM and OPM allocation methodologies for the IPO and the staying private scenarios, respectively.
The Company considered two scenarios: an IPO scenario which was expected to close in [***] with [***]% probability and the Remain Private
scenario with [***]% probability. Management estimated that the future IPO value for the Company&rsquo;s equity would be approximately
$[***] million pre-IPO proceeds, using the IPO data for biotechnology companies that went public in the last three years and by calculating
and applying an average step-up multiple to the most recent round of preferred financing to these companies IPO value. The step-up multiple
was estimated as [***]X to the Series&nbsp;C preferred stock financing of the Company. A variety of companies that are similar to the
Company were considered, including relevant companies to which the Company was expected to be compared to. This value was discounted
to the valuation date using a [***]% discount rate and resulted in the estimated common stock fair value of $[***] per share in the IPO
scenario. For the Remain Private scenario, management used the OPM methodology. In developing a conclusion of the Company&rsquo;s equity
value under the Remain Private Scenario, the Company used the backsolve to the valuation of the Series&nbsp;C preferred stock issued
in the financing and the application of a market adjustment. In developing a conclusion of the Company&rsquo;s equity value as of May&nbsp;29,
2024, a negative market adjustment of [***]% was applied to the equity value as of March&nbsp;4, 2024, when the Company closed the initial
tranche of its Series&nbsp;C preferred stock financing since all shares purchased in the subsequent tranche were issued at the same valuation.
The market adjustment was determined based on the movement in the market capitalization of the Company&rsquo;s publicly traded competitors
from March&nbsp;4, 2024 to May&nbsp;29, 2024, which resulted in the equity value of $[***] million. To arrive at the common stock fair
value under the Remain Private scenario, management used a [***]% risk-free rate, [***]% volatility based on an analysis of historical
equity and asset volatilities of the Company&rsquo;s peer group and [***] years term to an expected liquidity event. The Remain Private
scenario resulted in a fair value of $[***] per common stock share on a minority, marketable basis. In determining the estimated common
stock fair value, the management also considered the fact that the Company&rsquo;s shares were not freely traded in the public markets.
Accordingly, the Company calculated the DLOM of [***]% and [***]% for the IPO and the Remain Private scenarios, respectively, using the
put option models, such as Finnerty Model, Ghaidarov Put Model and Protective Put Model, and the restricted stock study comparative analysis.
The fair value of $[***] per share of common stock was determined after weighing each scenario and applying the relevant DLOM (the &ldquo;May&nbsp;2024
Valuation&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOIA Confidential Treatment Requested by ALUMIS
INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Cooley LLP 3 Embarcadero Center 20th Floor San Francisco, CA 94111-4004<BR>
t: +1 415 693 2000 f: +1 415 693 2222 cooley.com</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="tm2411163d9_correspimg001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Securities and Exchange Commission</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">June&nbsp;14, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;Twelve</P></TD>
    <TD STYLE="width: 50%; text-align: right">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
primary factors that resulted in an increase in the estimated fair value of the common stock from April&nbsp;2024 to May&nbsp;2024 primarily
was the increase in the probability of the IPO scenario from </FONT>[***]% in April&nbsp;2024 to [***]% in May&nbsp;2024, as the Company&rsquo;s
progress in the IPO process. The Company was holding testing the water meetings with potential investors and was expected to file publicly
its registration statement with the SEC on June&nbsp;7, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><I>June&nbsp;2024 Grants</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
June&nbsp;2024, the Board granted options to purchase </FONT>[***] shares of common stock, with an exercise price of $[***] per share,
which was the most recent available common stock fair value, the May&nbsp;2024 Valuation. The Board determined that there were no significant
changes from May&nbsp;2024 to June&nbsp;2024 that would significantly impact the valuation of the Company and the value of its common
stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Difference between Most Recent Valuation and the Preliminary
Price Range</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company believes that the difference between the fair value of its common stock as of May&nbsp;29, 2024 of $</FONT>[***] per share and
the midpoint of the Preliminary Price Range provided above of approximately $[***] per share of its common stock is the result of the
Company&rsquo;s evaluation for the Price Range Factors discussed above, as well as the following considerations:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The
                                            Preliminary Price Range is based only upon a scenario in which the Company completes the
                                            IPO and is not probability weighted, in contrast to the Company&rsquo;s prior valuations
                                            of its common stock, which considered multiple potential outcomes, which would result in
                                            a lower valuation of the Company&rsquo;s common stock than its IPO. In the May&nbsp;2024
                                            valuation, the probability weighting of the IPO scenarios was [***]%. If the Company had
                                            instead applied a weighting of 100% to the [***] IPO scenario, the fair value of the Company&rsquo;s
                                            common stock in the May&nbsp;2024 Valuation would have been $[***] per share or $[***] per
                                            share if not adjusted for DLOM ($[***] per share on a post-Stock Split basis).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The
                                            Preliminary Price Range represents a future price for the Company&rsquo;s shares of common
                                            stock that, if issued in the IPO, will be immediately freely tradable in a public market,
                                            whereas the estimated fair value of the shares of common stock as of May&nbsp;29, 2024 represents
                                            a contemporaneous estimate of the fair value of shares that were then illiquid, might never
                                            become liquid and, even if an IPO were successfully completed, would remain illiquid at least
                                            until the expiration of the&nbsp;180-day&nbsp;lockup period following an IPO. This illiquidity
                                            also accounts for a substantial difference between the estimated fair values of the shares
                                            of common stock from the June&nbsp;2024 grants and the Preliminary Price Range. The Company
                                            respectfully submits that the DLOM ranging from [***]% to [***]% utilized in the May&nbsp;2024
                                            Valuation is reasonable and appropriate given the Company&rsquo;s growth and the prospects
                                            for an IPO.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The
                                            holders of the Company&rsquo;s preferred stock currently enjoy substantial economic rights
                                            and preferences over the holders of its shares of common stock, including the right to receive
                                            dividends prior to any dividends declared or paid on any shares of common stock of the Company
                                            and liquidation payments in preference to holders of shares of common stock, as well as the
                                            right to participate with the holders of shares of common stock in all remaining proceeds
                                            (after the payment of all liquidation preferences) in the event of a liquidation. The Preliminary
                                            Price Range described assumes the conversion, on a share for share basis, of all of the Company&rsquo;s
                                            redeemable convertible preferred stock upon the completion of its IPO. The corresponding
                                            elimination of the preferences and rights enjoyed by the holders of such preferred stock
                                            results in a higher valuation of shares of common stock.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOIA Confidential Treatment Requested by ALUMIS
INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Cooley LLP 3 Embarcadero Center 20th Floor San Francisco, CA 94111-4004<BR>
t: +1 415 693 2000 f: +1 415 693 2222 cooley.com</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="tm2411163d9_correspimg001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Securities and Exchange Commission</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">June&nbsp;14, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;Thirteen</P></TD>
    <TD STYLE="width: 50%; text-align: right">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The
                                            successful completion of an IPO and proceeds therefrom would strengthen the Company&rsquo;s
                                            balance sheet, provide access to public equity and debt markets and provide a &ldquo;currency&rdquo;
                                            of publicly tradeable securities to enable the Company to make strategic acquisitions as
                                            the Board may deem appropriate, providing enhanced operational flexibility to potentially
                                            obtain regulatory approval for and commercialize product candidates in development.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The
                                            valuations of comparable companies that completed or launched IPOs during 2021 to date, which
                                            valuations reflected increases from the last private rounds of equity financing prior to
                                            such IPOs, i.e., reflecting step-up multiples in the IPO.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The
                                            price that investors are willing to pay in the IPO, for which the Preliminary Price Range
                                            is intended to serve as an estimate, may take into account other factors that have not been
                                            expressly considered in prior valuations of the Company&rsquo;s common stock, but the Company
                                            or the underwriters for the offering believe are significant to investors in their own subjective
                                            and qualitative assessment of the Company, and thus may not be objectively determinable or
                                            quantifiable under the above-described valuation models.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The
                                            additional progress made by the Company in its planned IPO, including holding &quot;testing
                                            the waters&quot; meetings with potential investors in reliance on Section&nbsp;5(d)&nbsp;of
                                            the Act and the public filing of the Registration Statement with the SEC on June&nbsp;7,
                                            2024. Based on feedback from these meetings, the Company has assessed that there is potential
                                            market demand for the Company's securities and has estimated that the value of the Company's
                                            securities, as determined by the public markets, would be at the midpoint of the Preliminary
                                            Price Range.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">In
                                            determining the Preliminary Price Range, the underwriters focused on a number of valuation
                                            methodologies to triangulate valuation, including a discounted cash flow analysis, including
                                            factors likely to affect the Company&rsquo;s revenues and profitability, and relevant trading
                                            multiples. In contrast to the metrics used to determine the Preliminary Price Range, the
                                            valuations of ordinary shares were determined in accordance with the guidelines outlined
                                            in the Practice Aid as described herein and on pages&nbsp;121 and 122 of the Registration
                                            Statement.&nbsp;The Company, in preparing its valuations of shares of common stock, generally
                                            applied analyses that estimated the fair value of the Company&rsquo;s shares of common stock
                                            utilizing projected and historical financial data and a comparison of similar business and
                                            relevant acquisitions.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Recent
                                            market conditions used in the determination of the Preliminary Price Range after discussions
                                            with the lead underwriters, based on the current market environment and the supply and demand
                                            for such investment opportunities in the marketplace.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Based on the above analysis,
the Company respectfully submits that the determination of the fair value of the shares of common stock for financial reporting purposes
is appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">* &nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;
*</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOIA Confidential Treatment Requested by ALUMIS
INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Cooley LLP 3 Embarcadero Center 20th Floor San Francisco, CA 94111-4004<BR>
t: +1 415 693 2000 f: +1 415 693 2222 cooley.com</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="tm2411163d9_correspimg001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Securities and Exchange Commission</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">June&nbsp;14, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;Fourteen</P></TD>
    <TD STYLE="width: 50%; text-align: right">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">Please contact me at
(415) 693-2177 with any questions or further comments regarding the Price Range and the information discussed in this letter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Sincerely,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; width: 50%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">/s/ David Peinsipp</FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">David Peinsipp</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Cooley LLP</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">cc:</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Martin Babler, Alumis Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Roy Hardiman, Alumis Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sara Klein, Alumis Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Kristin VanderPas, Cooley LLP</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Laureen Creel, Cooley LLP</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Shayne Kennedy, Latham&nbsp;&amp; Watkins LLP</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ross McAloon, Latham&nbsp;&amp; Watkins LLP</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOIA Confidential Treatment Requested by ALUMIS
INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Cooley LLP 3 Embarcadero Center 20th Floor San Francisco, CA 94111-4004<BR>
t: +1 415 693 2000 f: +1 415 693 2222 cooley.com</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
