Evommune stock tumbles after trial misses primary endpoint

Shares of Evommune Inc (NYSE:EVMN) dropped 27% in post-market trading on Tuesday after the company disclosed that its drug candidate EVO756 failed to achieve primary and secondary endpoints in a Phase 2b clinical trial evaluating it as a treatment for atopic dermatitis.

The randomized, double-blind, placebo-controlled study included 121 adult patients with moderate-to-severe atopic dermatitis and spanned a 12-week treatment phase. None of the dose groups reached the primary endpoint, which measured the mean percentage change from baseline in Eczema Area and Severity Index (EASI) score at Week 12. Consequently, Evommune will not pursue further development of EVO756 in atopic dermatitis.

EVO756, an oral antagonist targeting the Mas-related G-protein coupled receptor X2, was generally well tolerated, with a safety profile consistent with earlier trials, the company reported. Evommune plans to continue Phase 2b testing of EVO756 for migraine prophylaxis.

Evommune said it will now prioritize EVO301, an IL-18BP fusion protein, as its lead program in atopic dermatitis, following positive proof-of-concept results from a Phase 2a study. The company plans to launch a Phase 2b trial for EVO301 in mid-2027.

Dr. Eugene Bauer, Chief Medical Officer of Evommune, said the company was disappointed that the EVO756 trial did not meet its primary endpoint, particularly given the need for new treatments for patients with atopic dermatitis.

Luis Peña, the company's President and Chief Executive Officer, stated that Evommune maintains a robust balance sheet that can fund operations into 2029 and remains committed to advancing its pipeline of therapies for chronic inflammatory conditions.

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