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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, a clinical stage biotechnology company, announced its management's participation in two virtual investor conferences in September 2020. The first event is the Morgan Stanley 18th Annual Global Healthcare Conference on September 14, where a fireside chat will occur at 4:30 p.m. ET. The second event is at Cantor Fitzgerald's Global Healthcare Conference on September 17, featuring 1x1 meetings. Evelo is developing oral biologics targeting inflammatory diseases and cancer, with several product candidates in development.
Evelo Biosciences (Nasdaq:EVLO) reported its Q2 2020 financial results, highlighting significant advances in clinical trials for EDP1815 in COVID-19 and moderate psoriasis. The FDA authorized an IND for EDP1815's Phase 2 trial for COVID-19, with data expected in 4Q 2020. The company raised approximately $52 million through a public offering, increasing cash reserves to $90.2 million. R&D expenses decreased slightly to $15.2 million, while general and administrative expenses fell to $5.1 million. The net loss for Q2 was $20.7 million, or $(0.63) per share, compared to $(0.65) per share in the prior year.
Evelo Biosciences (Nasdaq: EVLO) announced a conference call on July 30, 2020, at 8:30 a.m. ET to discuss its second quarter 2020 financial results and business highlights. The call will be accessible via dial-in and a live webcast on their website. Evelo is a clinical stage biotechnology company focused on developing oral biologics targeting the small intestinal axis (SINTAX), which influences immune and metabolic systems. Its product candidates include EDP1815, EDP1867, EDP2939 for inflammatory diseases, and EDP1503 for cancer, showcasing their innovative approach to treatment.
Evelo Biosciences (Nasdaq: EVLO) has announced the presentation of clinical data from its Phase 1/2 study of EDP1503, combined with pembrolizumab, for advanced metastatic colorectal carcinoma, triple-negative breast cancer, and checkpoint inhibitor relapsed tumors, at the ESMO World Congress from July 1-4, 2020. The study revealed a 25% overall response rate in 8 TNBC patients receiving a high dose of EDP1503, significantly above the historic 5-10% rate for anti-PD-1 monotherapy. Further data on TNBC patients is anticipated in Q4 2020.
Evelo Biosciences (Nasdaq: EVLO) has announced a public offering of 12,000,000 shares at $3.75 each, aiming for gross proceeds of approximately $45 million. There’s a 30-day option for underwriters to purchase an additional 1,800,000 shares. The funds will primarily support clinical trials of EDP1815 for inflammatory diseases and related conditions, alongside development of EDP1503 for oncology. The offering is expected to close by June 29, 2020, subject to customary conditions.
Evelo Biosciences (Nasdaq: EVLO) announced plans for a public offering of $40 million in common stock, with an option for underwriters to purchase an additional $6 million. The funds are intended to support the advancement of EDP1815 into multiple Phase 2 clinical trials for inflammatory diseases and hyperinflammation, as well as to continue developing EDP1503 for oncology and other research activities. The offering is subject to market conditions, and there is no guarantee on completion or terms. Morgan Stanley, Cowen, and BMO Capital Markets are managing the offering.
Evelo Biosciences (Nasdaq: EVLO) has announced its inclusion in the TACTIC-E clinical trial aimed at evaluating experimental therapies for COVID-19 complications. EDP1815 is one of the selected therapies, previously showing favorable tolerability and anti-inflammatory effects in earlier trials. TACTIC-E will assess safety and efficacy among up to 469 hospitalized patients with COVID-19 risk factors. Interim data is expected in Q4 2020, and positive results could lead to discussions with regulatory bodies for potential treatment approval.
Evelo Biosciences, a clinical-stage biotechnology company, announced participation in the BMO 2020 Prescriptions for Success Healthcare Conference on June 23 at 11:00 a.m. ET. This event will be available via a live audio webcast on their website, with a replay accessible for 30 days post-event. Evelo focuses on developing orally delivered biologics that target immune, metabolic, and neurological systems, with product candidates for inflammatory diseases and cancer. Their therapies aim to provide effective and affordable treatment options.
Evelo Biosciences, a clinical stage biotechnology company, has announced its participation in a fireside chat at the Jefferies Virtual Healthcare Conference on June 4th at 4:30 p.m. ET. Investors can access the live audio webcast via the company's website, with a replay available for 30 days afterward. Evelo develops orally delivered biologics targeting the small intestinal axis, aiming to treat inflammatory diseases and cancer. Their product pipeline includes candidates EDP1815, EDP1867, EDP2939 for inflammation, and EDP1503 for cancer. Visit their website for more information.
Evelo Biosciences, along with Rutgers University and Robert Wood Johnson University Hospital, has submitted an Investigational New Drug application for a Phase 2 clinical study of EDP1815. This study aims to evaluate the safety and efficacy of EDP1815 in hospitalized COVID-19 patients. The trial will assess 60 participants to determine if early intervention can prevent severe COVID-19 complications. Positive results may lead to a Phase 3 trial and potential registration. Data is expected in the second half of 2020, underscoring the urgency in combating COVID-19.
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