Evommune Halts Atopic Dermatitis Program After EVO756 Trial Failure
EVMN sits 16% above its 52-week low of $10.47.
Summary
Evommune's lead oral candidate EVO756 missed primary and secondary endpoints in a 121-patient Phase 2b atopic dermatitis trial, prompting the company to halt development in that indication. This follows the drug's earlier failure in chronic spontaneous urticaria in June, and the company is now pivoting to EVO301, an IL-18BP fusion protein with positive Phase 2a data, with a Phase 2b trial planned for mid-2027. Management extended its cash runway guidance to 2029, up from 2028, providing some cushion. Shares fell 10.55% to $11.70 in premarket trading on Wednesday, and William Blair's Matt Phipps maintained a Market Perform rating, noting the AD failure was not surprising given the CSU miss. The migraine prophylaxis trial for EVO756 remains ongoing with topline data expected in 2027.
At the time of this announcement, EVMN was trading at $12.10 on NYSE in the Life Sciences sector, with a market capitalization of approximately $474.7M. The 52-week trading range was $10.47 to $33.20. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Benzinga.