With the failure in chronic spontaneous urticaria, Evommune’s story is now centered on its anti-IL-18 therapy EVO301, Oppenheimer said, which in February elicited a 33% placebo-adjusted improvement in eczema severity.
Evommune is ending the development of its lead asset in chronic spontaneous urticaria after a Phase 2b study demonstrated no significant benefit on disease activity.
Evommune had been evaluating the potential of its oral MRGPRX2 blocker EVO756 to ease disease severity among 160 antihistamine-refractory patients with moderate-to-severe illness. The biotech did not share data specifics, only saying in a Monday release that all three tested doses of the drug failed to meet the study’s goal of reducing disease activity at 12 weeks.
The lack of efficacy means the biotech will cease development of EVO756 in the indication. Evommune CEO Luis Peña called the outcome “disappointing,” but said the biotech still believes in EVO756’s mechanism as a “new potential therapeutic option to reduce inflammation and provide rapid relief of symptoms.”
Evommune shares crashed on Monday, closing the day’s trading session down just over 40%.
Despite the hives hitch, Evommune will continue to study EVO756 in atopic dermatitis (AD) and migraine.
With the mid-stage fail, the biotech’s therapeutic protein EVO301 “becomes the centerpiece of EVMN story,” Oppenheimer told investors on Monday. The drug candidate, an anti-IL-18 treatment, showed a 33% placebo-adjusted reduction in eczema severity at 12 weeks, according to a February readout from a Phase 2a AD trial.
“We expect investors to write off EVO756 programs in AD/migraine and anticipate the IL-18 program to drive the EVMN story,” the analysts wrote. Oppenheimer assigned a 5% probability of success to EVO756 in AD.
William Blair had a similar take on EVO756’s chances in AD. While the analysts agreed that EVO301 is now the biotech’s “major value driver with blockbuster potential,” this still remains far off. “With the Phase IIb trial expected to start in mid-2027, we assume results won’t be until the second half of 2028,” they said in a Monday note.
Aside from AD, EVO301 is also in Phase 1 development for ulcerative colitis.
The immunology space has recently been energized by two big-ticket deals. AbbVie last week acquired Apogee Therapeutics for $10.9 billion, winning the long-acting IL-13 inhibitor zumilokibart, under development for AD. The candidate appears to be “slightly improved” and offers a “differentiated dosing profile” compared to the mega-blockbuster Dupixent, BMO Capital Markets wrote in a June 19 note.
A few days earlier, Biogen put up to $1 billion on the line to absorb RayThera, an immunology specialist with three preclinical anti-inflammatory assets. Not much is known about these molecules, but the first one is set to enter Phase 1 development in the third quarter.
