Evommune
Develops chronic-inflammation therapies centered on EVO756 and EVO301 clinical programs.
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Profile
Advances two chronic-inflammation drug candidates: EVO756 for MRGPRX2 biology and EVO301 for the IL-18 pathway. After a June 2026 CSU trial miss, EVO756 work continues in atopic dermatitis and migraine while EVO301 moves toward a later AD study.
Develops therapies for chronic inflammatory diseases through a small clinical pipeline rather than marketed products. EVO756 is an oral small-molecule antagonist of MRGPRX2, and EVO301 is a long-acting injectable fusion protein aimed at the IL-18 inflammatory pathway.
Operates from Palo Alto as one company-wide segment, with resources allocated across functions and research programs. The team is rooted in Dermira, and founder Luis Pena remains chief executive.
Current execution is defined by pipeline triage after the June 2026 EVO756 CSU study missed its main endpoint. EVO756 development continues in atopic dermatitis and migraine, while EVO301 is advancing in atopic dermatitis after positive proof-of-concept data. The business depends on clinical readouts and licensing relationships before product sales.
Company facts
Key statistics
Year to date −23.6% · Average volume (30d) 468.7K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 26, 2026 | Needham | Initiate | Buy | |||
| Jun 30, 2026 | Morgan Stanley | Reiterate | Overweight | $55 | $26 | |
| Jun 30, 2026 | H.C. Wainwright | Downgrade | Buy | Neutral | ||
| Jun 30, 2026 | HC Wainwright & Co. | Downgrade | Buy | Neutral | ||
| Jun 29, 2026 | William Blair | Downgrade | Outperform | Market Perform |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | −$0.66 | −$0.89 | −33.9% | $1.3M | $0 | −100.0% | +5.23% |
| May 7, 2026Q1 FY26 | −$0.83 | −$0.64 | +22.9% | $722.2K | — | — | +1.87% |
| Mar 5, 2026Q4 FY25 | −$0.82 | −$1.43 | −74.4% | — | — | — | +5.62% |
| Dec 11, 2025Q3 FY25 | −$6.08 | −$8.07 | −32.7% | $3.3M | $10.0M | +200.0% | −8.53% |
Financial highlights
| 9 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $3.0M | $0 | $10.0M | $0 | $0 | $0 | |
| Gross profit | $2.6M | −$375.0K | $10.0M | $0 | −$349.0K | $0 | |
| Operating income | −$15.0M | −$23.0M | −$13.3M | −$29.7M | −$24.0M | −$34.9M | |
| Net income | −$14.6M | −$13.6M | −$12.5M | −$28.3M | −$21.7M | −$32.2M | |
| Diluted EPS | −$0.48 | −$0.45 | −$0.40 | −$0.90 | −$0.64 | −$0.89 | |
| Gross margin | 87.4% | — | 100.0% | — | — | — | |
| Operating margin | -501.1% | — | -133.3% | — | — | — |
Fiscal years (4-quarter sums)FY25 $13.0M
Balance sheet, Jun 30, 2026Cash & short-term investments $200.8M · Total debt $8.1M · Total assets $301.9M · Shareholders' equity $277.6M
Dividends
No dividends on record.
Ownership
Shares outstanding 36.29M · Float 19.21M · 52.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Eqt Fund Management S.A R.L. | 4.93M | 13.58% | 13F | May 14, 2026 |
| Ra Capital Management, L.P. | 3.49M | 9.63% | 13F | May 15, 2026 |
| Pivotal Bioventure Partners Investment Advisor LLC | 1.93M | 5.31% | 13F | May 14, 2026 |
| Andera Partners | 1.90M | 5.23% | 13F | May 11, 2026 |
| RTW Investments, LP | 1.50M | 4.14% | 13F | May 15, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- AbbVie
Broad AD, UC, and migraine overlap through RINVOQ, SKYRIZI, QULIPTA
- Eli Lilly
AD, UC, and migraine biologics overlap through EBGLYSS, Omvoh, Emgality
- Regeneron
Type-2 biologic leader in AD and CSU through Dupixent
- Pfizer
Oral AD, UC, and migraine overlap through CIBINQO, VELSIPITY, Nurtec
- Novartis (ADR)
CSU-focused oral BTK competition through Rhapsido
- Celldex Therapeutics
Clinical mast-cell competitor in CSU through barzolvolimab
- Johnson & Johnson
UC cytokine incumbent through TREMFYA's IL-23 franchise
- Jasper Therapeutics
Smaller KIT-directed mast-cell challenger in CSU and CIndU
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Evommune | $13.23 | +0.08% | $480.1M | — | — | 48.0 | — |
| AbbVie | $255.80 | +0.13% | $451.38B | 72.0 | 16.8 | 7.0 | +10.2% |
| Eli Lilly | $1,173.00 | −0.08% | $1.10T | 39.4 | 28.7 | 13.9 | +47.7% |
| Regeneron | $793.21 | −0.11% | $81.82B | 19.6 | 13.1 | 5.3 | +16.7% |
| Pfizer | $27.95 | −0.04% | $159.36B | 36.9 | 10.0 | 2.5 | +2.6% |
| Novartis (ADR) | $153.81 | 0.00% | $292.35B | 23.2 | 16.4 | 5.3 | +0.9% |
| Celldex Therapeutics | $39.12 | +0.08% | $2.60B | — | — | 23,240.9 | −97.0% |
| Johnson & Johnson | $268.40 | +0.13% | $645.95B | 31.1 | 22.4 | 6.6 | +6.6% |
| Jasper Therapeutics | $0.7140 | +3.02% | $11.4M | — | — | — | — |
| Median | 34.0 | 16.6 | 6.6 | +6.6% |