Welcome to our dedicated page for Evotec SE American Depositary Shares news (Ticker: EVO), a resource for investors and traders seeking the latest updates and insights on Evotec SE American Depositary Shares stock.
Evotec SE, headquartered in Hamburg, Germany, is a leading global drug discovery and development company. Specializing in providing comprehensive solutions to pharmaceutical and biotechnology companies, academic institutions, and nonprofit organizations, Evotec is renowned for its extensive capabilities in therapeutic areas such as central nervous system disorders, diabetes, inflammation, oncology, infectious diseases, and women's health.
Evotec’s core business is divided into two main segments: Shared R&D and Just-Evotec Biologics. The Shared R&D segment, making up approximately 80% of the company's sales, offers drug discovery and manufacturing services on a fee-for-service basis. It also engages in integrated drug discovery collaborations leveraging proprietary, internally-developed assets. Just-Evotec Biologics, accounting for about 20% of sales, provides contract development and manufacturing (CDMO) services for biologics.
With a workforce of over 5,000 employees, Evotec operates 18 production sites mainly across Europe and the United States. In recent years, the company has made significant strides in forming strategic alliances and collaborations, such as the recent partnership with Claris Ventures and Variant Bio, aimed at accelerating the development of innovative therapeutics.
Evotec’s multimodal platform combines cutting-edge technologies, data, and scientific expertise to drive the discovery, development, and production of first-in-class and best-in-class pharmaceutical products. The company’s integrated R&D network includes partnerships with all Top 20 Pharma companies and over 800 biotech companies, academic institutions, and other healthcare stakeholders. This robust network facilitates the co-creation of a world-leading pipeline of over 200 proprietary and co-owned R&D projects, ranging from early discovery to clinical development.
Recent achievements by Evotec include the successful Clinical Trial Application (CTA) for IAMA Therapeutics’ lead program IAMA-6 and the strategic collaboration with Janssen for immune-based therapies. Additionally, Evotec has expanded its relationship with Bristol Myers Squibb in neurodegeneration and targeted protein degradation.
Financially, Evotec has demonstrated resilience despite macroeconomic challenges and a substantial cyber-attack in 2023. The company reported a 4% increase in revenues, reaching €781.4 million in 2023, driven by new collaborations and the strong performance of Just-Evotec Biologics.
As of 2024, Evotec continues to focus on sustainable and profitable growth, optimizing its operations to meet evolving market demands. The company is committed to advancing its mission of discovering and developing effective therapeutics that address unmet medical needs globally.
Evotec SE reported its Q1 2024 financial results, revealing a 2% drop in group revenues to €208.7 million. This decline was driven by a 23% reduction in Shared R&D revenues, which fell to €155.2 million due to a challenging market. However, Just - Evotec Biologics saw a remarkable 383% revenue increase to €53.5 million.
Adjusted Group EBITDA significantly decreased to €7.8 million from €34.3 million in Q1 2023, affected by higher costs and lower operating income. The company introduced new reporting segments to simplify its structure and aims to reset for profitable growth.
Evotec's strategic partnerships and new agreements in AI, neuroscience, and IBD therapies contribute to its pipeline. Notable collaborations with Owkin, Bristol Myers Squibb, and the Crohn's & Colitis Foundation were highlighted. Post-period events include new partnerships for fibrosis treatments with Variant Bio and precision cardiology with Bayer.
Corporate updates include a CEO transition to Dr. Mario Polywka and the completion of the closure of its Chemistry activities in Marcy. The full-year 2024 outlook anticipates double-digit revenue growth and mid-double-digit adjusted EBITDA growth.
Evotec SE (NASDAQ: EVO) will announce its first quarter 2024 financial results on May 22, 2024. The company will host a conference call on the same day at 2:00 pm CEST (8:00 am EDT) to discuss the results and provide a performance update. Evotec operates globally in underserved therapeutic areas, including neurology, oncology, metabolic, and infectious diseases. The company has over 200 R&D projects and collaborates with Top 20 Pharma and 800+ biotechnology firms. The webcast and presentation slides will be available on Evotec's investor relations website.
Bayer and Evotec have updated their strategic collaboration to focus on developing innovative precision treatments for cardiovascular diseases. By leveraging Evotec's disease modelling capabilities using human induced pluripotent stem cells (iPSCs), the alliance aims to identify and validate novel targets to build a portfolio of precision cardiology therapeutics. Both companies will contribute drug targets and technology platforms for the development of innovative treatment options. Bayer will handle clinical development and commercialization while sharing responsibilities during pre-clinical development with Evotec. The collaboration seeks to address the high unmet medical need in cardiovascular diseases that are the leading cause of death globally.
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