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Evelo Biosciences, Inc. (Nasdaq: EVLO) is a clinical-stage biotechnology company committed to transforming the lives of patients worldwide by developing innovative medicines known as monoclonal microbials. These therapies are orally administered and designed to modulate systemic immunology and biology by interacting directly with human cells in the gut.
Evelo’s groundbreaking approach leverages the small intestinal axis (SINTAX) to develop medicines that hold promise for a wide range of diseases, including autoimmune, immunoinflammatory, metabolic, neurological, and neuroinflammatory conditions, as well as cancer. The company's monoclonal microbials are poised to revolutionize traditional drug discovery and development by enhancing speed, reducing costs, and increasing the success rate of therapeutic outcomes.
Recent achievements at Evelo include the ongoing development of EDP2939, a next-generation product candidate for moderate psoriasis, which builds on the positive Phase 2 clinical data of its predecessor, EDP1815. Despite challenges in recent trials, Evelo remains dedicated to advancing its SINTAX platform and pursuing strategic alternatives for further development and potential partnerships.
Financially, Evelo has recently secured additional financing and restructured its debt, providing the resources needed to continue its clinical programs into 2024. The company aims to deliver therapies that are not only effective and safe but also affordable, addressing the unmet needs of millions of patients with inflammatory diseases.
Founded within VentureLabs® by Flagship Pioneering, Evelo Biosciences is a testament to innovative biotechnology with a mission to discover and develop transformative medicines for a wide array of conditions.
For more information, please visit www.evelobio.com or contact their investor and media relations teams at ir@evelobio.com and media@evelobio.com.
Evelo Biosciences reported its Q2 2022 results, highlighting progress in its clinical development programs. The company expects health authority feedback on EDP1815 registration trials for psoriasis by year-end. Phase 2 clinical read-outs for EDP1815 in atopic dermatitis are anticipated in Q1 and Q2 2023. Financially, as of June 30, 2022, Evelo had $92 million in cash, with a net loss of $30.6 million.
EPS improved to $(0.40) from $(0.59) year-over-year.
Evelo Biosciences (Nasdaq: EVLO) will host a conference call on August 11, 2022, at 7:30 a.m. ET to discuss its second quarter 2022 financial results. The live call can be accessed at (800) 715-9871 (US) or +44 800 260 6466 (UK), with the conference ID 1143271. A webcast will also be available on the company’s investor website. Evelo specializes in developing orally delivered medicines targeting the small intestinal axis. Its key candidates, EDP1815 and EDP2939, are focused on treating inflammatory diseases, including psoriasis and atopic dermatitis.
Evelo Biosciences (Nasdaq: EVLO) announced the appointment of Marella Thorell as Chief Financial Officer (CFO), effective September 1, 2022. Thorell has over 25 years of finance experience, having led M&A, licensing, and fundraising in biotechnology sectors. Her prior role was Chief Accounting Officer at Centessa Pharmaceuticals. CEO Simba Gill highlighted her strategic expertise as critical for Evelo's late-stage clinical development and commercialization efforts. Thorell expressed enthusiasm for joining during a pivotal growth period, especially following positive Phase 2 clinical data for EDP1815 in psoriasis.
Evelo Biosciences (Nasdaq: EVLO) has announced a registered direct offering of 54,246,358 shares of common stock at $1.46 per share, resulting in gross proceeds of $79.2 million. The offering is led by Evelo's founder, Flagship Pioneering, and is expected to close on May 27, 2022. Proceeds will support the development of EDP1815 in clinical trials for atopic dermatitis and psoriasis, as well as advancing EDP2939 into the clinic. The shares are offered under a previously filed shelf registration statement.
Evelo Biosciences, Inc. (Nasdaq: EVLO) reported its first quarter 2022 financial results, highlighting positive data for EDP1815 in treating psoriasis. Key achievements include effects on inflammatory cytokines, extended response duration, and improved target site engagement. The company is advancing EDP1815 towards late-stage trials and has exceeded recruitment goals for its atopic dermatitis trial. Financially, Evelo reported a cash position of $39.6 million, R&D expenses of $19.3 million, and a net loss of $29.9 million, resulting in an EPS of $(0.56).
Evelo Biosciences, Inc. (Nasdaq:EVLO) has appointed two industry veterans as strategic advisors: John Maraganore, former CEO of Alnylam Pharmaceuticals, and Tassos Gianakakos, former CEO of MyoKardia. Their extensive experience in biotechnology is expected to enhance Evelo’s initiatives in developing orally delivered medicines targeting inflammatory diseases. Evelo’s current product candidates include EDP1815 and EDP2939, which are designed to improve therapeutic outcomes in patients. The company continues to navigate the complexities of clinical development while aiming for innovative therapeutic solutions.
Evelo Biosciences (Nasdaq: EVLO) provided updates on its lead program EDP1815 for inflammatory diseases, particularly psoriasis and atopic dermatitis. Key points include plans to discuss registration trials for EDP1815 in psoriasis by Q3 2022, with data from a Phase 2 trial expected by Q1 2023. Evelo will also introduce a faster-release capsule in the ongoing atopic dermatitis trial, with results anticipated in the first half of 2023. Additionally, the company announced it will put the EDP1867 program on hold after a Phase 1 trial.
Evelo Biosciences, Inc. (Nasdaq: EVLO) has appointed Dr. Jose-Carlos Gutiérrez-Ramos and Tonya Williams to its Board of Directors. Dr. Gutiérrez-Ramos, recognized for his expertise in drug discovery and immunology, previously held leadership roles at various pharmaceutical companies, including AbbVie and Pfizer. Tonya Williams has significant experience in government and corporate affairs, previously serving in the White House and at GlaxoSmithKline. These appointments aim to bolster Evelo’s capabilities as it moves towards advanced stages of developing its innovative orally delivered medicines for inflammatory diseases.
Evelo Biosciences, Inc. (EVLO) recently presented late-breaking data from a Phase 2 trial of EDP1815 for psoriasis at the 2022 AAD Annual Meeting. The trial showed EDP1815 significantly outperformed placebo, with 25-32% of patients achieving a PASI-50 response compared to 12% on placebo. EDP1815 was well tolerated, exhibiting no serious adverse events, and yielded durable clinical responses post-treatment. This data supports the potential of EDP1815 as a new oral therapy for inflammatory diseases, paving the way for future registration trials.
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