Evelo Biosciences Inc

Evelo Biosciences, Inc. operates as a clinical stage biotechnology company, which engages in the development of orally delivered investigational medicines. Its portfolio includes EDP1066 and EDP1815 for the treatment of inflammatory diseases, EDP2939 for inflammation, and EDP1908 for oncology. The company was founded by Noubar B. Afeyan and David A. Berry in 2014 and is headquartered in Cambridge, MA.

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Evelo's (EVLO) EDP2939 fails to achieve the primary endpoint in a mid-stage for treating moderate psoriasis. The company decides to cease clinical development on the candidate.

Evelo (EVLO) Drops 59% on Flunking Psoriasis Drug Study

Evelo Biosciences' shares have tumbled 46% in premarket trading after the biotech firm revealed disappointing results in a phase II psoriasis trial for its next-generation drug, EDP2939. A resounding miss, the treatment failed to outperform the placebo, which has no therapeutic effect.

Evelo Biosciences shares tank 46% after trial failure

Evelo Biosciences Inc. EVLO, -6.73% said Tuesday it's reviewing its strategic options and exploring partnerships after a Phase 2 study of a treatment for psoriasis failed to meet its main goal. “The study's primary endpoint, the difference in the proportion of patients who achieved an outcome of a 50% improvement from baseline in Psoriasis Area and Severity Index (PASI) score (a PASI-50 response) between EDP2939 and placebo after 16 weeks of daily treatment, was not achieved,” the company said in a statement.

Evelo Biosciences to review options after Phase 2 trial of psoriasis treatment fails to meet main goal

- Primary endpoint was not achieved – - Company exploring strategic alternatives and partnering opportunities for EDP1815 and its SINTAX platform - CAMBRIDGE, Mass., Oct. 17, 2023 (GLOBE NEWSWIRE) -- Evelo Biosciences, Inc. (Nasdaq:EVLO) (“Evelo” or the “Company”), a clinical stage biotechnology company developing a novel platform of orally delivered inflammation-resolving medicines acting on the small intestinal axis (SINTAX), today announced top-line results from its Phase 2 clinical study with EDP2939 in moderate psoriasis.

Evelo Biosciences Announces Top-Line Results From its Phase 2 Clinical Study with EDP2939 in Moderate Psoriasis

Following recent cash raise, EVLO has enough (barely) cash to the next catalyst, phase 2 readout in psoriasis. The event is binary and can make or break the company. Prior failure of EVLO's platform in atopic dermatitis is concerning. However, psoriasis is a different indication (different pathophysiology) and de-risked by positive results in a prior phase 2 study. Ongoing phase 2 trial in psoriasis is being conducted with a second generation candidate, EDP2939, which is expected to have better efficacy and now represents EVLO's sole clinical-stage candidate.

Evelo Biosciences: May Be Worth A Small, Highly Speculative Long Position Considering Upcoming Psoriasis Phase 2 Results

– EDP2939 Phase 2 trial in moderate psoriasis fully enrolled with topline data expected early Q4 2023 – Completed $25.5 Million Private Placement – Restructured and reduced secured debt with Horizon Technology Finance Corporation

Evelo Biosciences Announces Second Quarter Financial Results and Recent Business Highlights

Flagship Pioneering, an investment vehicle helmed by Noubar Afeyan, a co-founder of Moderna and its chairman, bought $12.5 million of shares of biotech Evelo.

Moderna Co-Founder Bought Up This Embattled Biotech Stock

Restructures and reduce s secured debt with Horizon Technology Finance Corporation Appoints two new members and decreases size of Board of Directors

Evelo Biosciences Closes $25.5 Million Private Placement

CAMBRIDGE, Mass., July 10, 2023 (GLOBE NEWSWIRE) -- Evelo Biosciences, Inc. (Nasdaq:EVLO), a clinical stage biotechnology company developing a novel platform of orally delivered inflammation-resolving medicines acting on the small intestinal axis (SINTAX), today announced that it has entered into a securities purchase agreement with investors in a private placement to sell 11,025,334 shares of its common stock (the “Shares”) at a purchase price of $2.31 per share, which would result in gross proceeds of approximately $25.5 million. The offering is being led by Evelo's founder, Flagship Pioneering, with participation from other new and existing investors. Evelo intends to use the net proceeds from the private placement to fund the readout of its Phase 2a trial of EDP2939 in moderate psoriasis, to pay down approximately $5.0 million of its existing debt and for general corporate purposes.

Evelo Biosciences Announces $25.5 Million Private Placement

– EVLO common stock expected to begin trading on a split-adjusted basis on June 30, 2023 – CAMBRIDGE, Mass., June 29, 2023 (GLOBE NEWSWIRE) -- Evelo Biosciences, Inc. (Nasdaq:EVLO), a clinical stage biotechnology company developing a novel platform of orally delivered inflammation-resolving medicines acting on the small intestinal axis (SINTAX), today announced that its Board of Directors has approved a 1-for-20 reverse stock split of the Company's common stock.

Evelo Biosciences Announces Reverse Stock Split Effective

Evelo Biosciences (NASDAQ: EVLO ) stock is rising higher on Tuesday after the clinical-stage biotechnology company reached a new standstill agreement with Horizon Technology Finance (NASDAQ: HRZN ) last week. This agreement builds on the prior one the two companies reached back in December 2022.

Why Is Evelo Biosciences (EVLO) Stock Up 51% Today?

Evelo Biosciences, Inc. (EVLO) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

What Makes Evelo Biosciences, Inc. (EVLO) a New Buy Stock

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Evelo Biosciences (NASDAQ: EVLO ) stock is on the rise Thursday after the company said it's shifting focus toward extracellular vesicle (EV) development. With this news, Evelo Biosciences will put a greater focus on EDP2939, which is its first EV treatment.

Why Is Evelo Biosciences (EVLO) Stock Up 78% Today?

– Topline Data from fourth cohort of EDP1815 Phase 2 trial in atopic dermatitis did not meet primary endpoint – – Company will focus on development of extracellular vesicles (EVs) – – First EV candidate, EDP2939, in Phase 2 moderate psoriasis study fully enrolled; data anticipated in early Q4 2023 – – Management to host conference call today at 8:30 a.m. ET –

Evelo Biosciences Provides Clinical Updates

Evelo Biosciences, Inc. (NASDAQ:EVLO ) Q4 2022 Earnings Conference Call March 16, 2023 8:30 AM ET Company Participants Shamira Shariffudin - Director Business Development Simba Gill - Chief Executive Officer Mark Bodmer - Chief Scientific Officer Marella Thorell - Chief Financial Officer Conference Call Participants Gary Nachman - BMO Capital Markets Gospel Enyindah-Asonye - Morgan Stanley Kristen Kluska - Cantor Fitzgerald Peyton Bohnsack - Cowen Operator Good morning and welcome to the Evelo Biosciences Conference Call to discuss its Fourth Quarter and Full Year 2022 Financial Results and Business Update. [Operator Instructions] Please be advised this call is being recorded at the company's request.

Evelo Biosciences, Inc. (EVLO) Q4 2022 Earnings Call Transcript

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CAMBRIDGE, Mass., March 16, 2023 (GLOBE NEWSWIRE) -- Evelo Biosciences, Inc. (Nasdaq: EVLO), (“Evelo” or the “Company”) a clinical stage biotechnology company developing a novel platform of orally delivered inflammation-resolving medicines acting on the small intestinal axis, SINTAX, today reported financial results and business highlights for the fourth quarter and full year 2022.

Evelo Biosciences Announces Fourth Quarter and Full Year 2022 Financial Results and Business Highlights

CAMBRIDGE, Mass., March 09, 2023 (GLOBE NEWSWIRE) -- Evelo Biosciences, Inc. (Nasdaq: EVLO), a clinical stage biotechnology company developing a novel platform of orally delivered inflammation-resolving medicines acting on the small intestinal axis, SINTAX, today announced that it will host a conference call and live webcast at 8:30 a.m. ET on Thursday, March 16, 2023 to report its fourth quarter and full year 2022 financial results and business highlights.

Evelo Biosciences to Report Fourth Quarter and Full Year 2022 Financial Results on Thursday, March 16, 2023

Evelo Biosciences, Inc. (EVLO) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.

After Plunging -40.39% in 4 Weeks, Here's Why the Trend Might Reverse for Evelo Biosciences, Inc. (EVLO)

CAMBRIDGE, Mass., March 01, 2023 (GLOBE NEWSWIRE) -- Evelo Biosciences, Inc. (Nasdaq:EVLO), a clinical stage biotechnology company developing a novel platform of orally delivered anti-inflammatory medicines acting on the small intestinal axis, SINTAX, today announced that Mark Plinio, J.D., Chief Commercial Officer will participate in a dermatology panel at the Cowen 43rd Annual Health Care Conference on Tuesday, March 7, 2023 at 12:50 p.m. ET.

Evelo Biosciences to Participate in the Cowen 43rd Annual Health Care Conference

– Completed first blinded, placebo-controlled cohort in human volunteers with no safety or tolerability concerns –

Evelo Biosciences Reports that EDP2939, its First Oral Extracellular Vesicle Product Candidate, Commenced Dosing in a Phase 2 Psoriasis Trial

The heavy selling pressure might have exhausted for Evelo Biosciences, Inc. (EVLO) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.

Down -39.46% in 4 Weeks, Here's Why Evelo Biosciences, Inc. (EVLO) Looks Ripe for a Turnaround

News for Evelo Biosciences Inc Stock (EVLO)