EVELO BIOSCIENCES INC - EVLO STOCK NEWS

Evelo Biosciences (EVLO) and Abdul Latif Jameel Health announce a strategic collaboration to develop and commercialize EDP1815, an oral medicine for inflammatory diseases, in the Middle East, Turkey, and Africa. The partnership aims to improve access to affordable healthcare in developing markets. EDP1815 has shown positive Phase 1b data in atopic dermatitis and is also involved in trials for psoriasis and COVID-19. The agreement includes a 50:50 profit share arrangement, with Evelo handling development and manufacturing while Abdul Latif Jameel manages regulatory and commercialization efforts.

Evelo Biosciences (EVLO) has announced promising results for its clinical trials, particularly for EDP1815 in treating psoriasis and atopic dermatitis. The Phase 2b trial for EDP1815 in psoriasis is fully enrolled, with data expected in Q3 2021. Additionally, the Phase 1b trial for EDP1867 has commenced. Financially, Evelo reported a net loss of $93.7 million for 2020 but has strengthened its position with $88 million from recent equity sales. The company plans to advance its programs while expecting up to eight clinical data readouts in the next 18 months.

Evelo Biosciences (Nasdaq:EVLO), a clinical stage biotechnology firm, will host a conference call on March 9, 2021, at 8:30 a.m. ET to report its fourth quarter and full year 2020 financial results. The event will showcase business highlights and can be accessed via dial-in or a live webcast on their website. Evelo focuses on developing orally delivered therapies targeting inflammatory diseases and cancer, with four product candidates in the pipeline, including EDP1815 and EDP1908.

Evelo Biosciences, Inc. (Nasdaq: EVLO) has appointed Dr. John Hohneker to its Board of Directors. Dr. Hohneker brings over 30 years of drug development experience, having held senior roles at companies like Anokion and Novartis. Evelo aims to leverage his expertise as it progresses its clinical candidates toward commercialization. Currently, Evelo is developing orally delivered therapies targeting the small intestinal axis (SINTAX™) to treat inflammatory diseases and cancer. The company has four candidates in development, including EDP1815, EDP1867, EDP2939, and EDP1908.

Evelo Biosciences (Nasdaq: EVLO) has priced an underwritten public offering of 4,500,000 shares at $15.00 each, aiming to raise approximately $67.5 million before expenses. The underwriters receive a 30-day option for an additional 675,000 shares. Proceeds will fund the development of EDP1815 in psoriasis and atopic dermatitis trials, continue studies for hyperinflammation linked to SARs-CoV-2, and advance EDP1867 in atopic dermatitis. Closing is expected by February 2, 2021, subject to conditions.

Evelo Biosciences, Inc. (Nasdaq: EVLO) announced a public offering of $50 million in common stock, with a potential additional $7.5 million for over-allotments. Proceeds will fund the development of EDP1815 for psoriasis and atopic dermatitis trials, alongside other clinical studies and R&D efforts. Morgan Stanley, Cowen, and BMO Capital Markets are managing the offering. While the registration statement has been declared effective, actual completion and terms remain uncertain. Risks include fluctuations in stock price and market conditions.

Evelo Biosciences (Nasdaq: EVLO) announced positive results from its Phase 1b clinical trial for EDP1815, an oral treatment for mild to moderate atopic dermatitis. The trial included 24 patients, with EDP1815 showing significant improvements in patient-reported outcomes such as the Dermatology Life Quality Index (DLQI) and the Patient-Oriented Eczema Measure (POEM). At day 70, 44% of patients achieved a 50% improvement in Eczema Area and Severity Index (EASI) scores compared to none in the placebo group. EDP1815 was well tolerated, with no severe adverse events reported.

Evelo Biosciences (Nasdaq:EVLO) has announced its strategic goals for 2021, focusing on advancing the clinical development of its product candidates, particularly EDP1815 for psoriasis and atopic dermatitis. The company is set to expand its research into other therapeutic areas, including COVID-19 and oncology. Expected milestones include interim clinical data for EDP1815 in 1Q 2022 and initiation of Phase 3 trials contingent on positive results. Evelo emphasizes its commitment to developing safe, effective, and affordable treatments for systemic inflammation.

Evelo Biosciences (Nasdaq: EVLO) has appointed Dr. Jonathan Zung as Chief Development Officer. With over 25 years of industry experience, Dr. Zung aims to enhance Evelo's drug development capabilities as the company progresses with its lead program, EDP1815, for inflammatory diseases. CEO Simba Gill expressed confidence in Dr. Zung's expertise, highlighting recent positive clinical data. Evelo's pipeline includes three candidates for inflammatory diseases and one for cancer, focusing on the innovative SINTAX therapeutic approach.