Evommune, Inc.
EVMN evidence brief
What we can confirm
- BioSniper Score:
- 5.6 / 10
- Market Cap:
- $390.7M
- Lead Asset:
- evo301 (Phase 2)
What it means
What to watch
Prepared research question
What matters most for EVMN—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · EVMN
Evommune, Inc. (EVMN) is a clinical-stage biotechnology company developing therapies for chronic inflammatory diseases, with lead programs in atopic dermatitis, chronic spontaneous urticaria, and migraine.
Key risk: Pipeline setback
BioSniper Score
Based on 4 of 6 signals
Market Cap
$390.7M
Cash Runway
—
Lead Asset
evo301 (Phase 2)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 2 pipeline candidates · 5 clinical trials for Evommune, Inc..
Evommune, Inc. (EVMN) is a clinical-stage biotechnology company developing therapies for chronic inflammatory diseases, with lead programs in atopic dermatitis, chronic spontaneous urticaria, and migraine.
- Cash and equivalents of $60.0M as of 2026-06-30 [sec].
- Total revenue of $0.0M and net loss of -$32.2M for the period ending 2026-06-30 [sec].
- Phase 2b trial of EVO756 in moderate-to-severe atopic dermatitis failed to meet endpoints, leading to program halt [news · 2026-09-09].
- Phase 2a proof-of-concept data for EVO301 in atopic dermatitis presented at EADV 2026, showing a clear therapeutic signal [news · 2026-10-01].
- Phase 2b trial of EVO756 in migraine prophylaxis initiated in July 2026 [news · 2026-07-30].
What works
- EVO301 Phase 2a data in atopic dermatitis showed a 'clear therapeutic signal, favorable safety and tolerability profile' [news · 2026-10-01].
- The company expects current cash to fund operations into 2029, indicating a multi-year runway [news · 2026-09-09].
- Multiple Phase 2 programs are ongoing across different indications (CSU, migraine, inducible urticaria) [news · 2026-06-29][news · 2026-07-30][catalyst].
What to weigh
- EVO756 Phase 2b trial in atopic dermatitis failed, leading to program halt [news · 2026-09-09].
- The company has no approved products and zero revenue as of 2026-06-30 [sec].
- Net loss of -$32.2M for the six months ended 2026-06-30 [sec].
- Reliance on a single platform (MRGPRX2 antagonist) for multiple programs increases pipeline concentration risk.
From the filings
Quoted directly from source documents.
EVO756 atopic dermatitis Phase 2b trial failed
“Evommune Halts Atopic Dermatitis Program Following Trial Failure”
News · September 9, 2026
EVO301 Phase 2a showed therapeutic signal
“Presentation highlights EVO301’s clear therapeutic signal, favorable safety and tolerability profile”
News · October 1, 2026
Cash runway into 2029
“the Company expects that its current cash, cash equivalents, and investments will be sufficient to fund the Company's operations into 2029”
News · September 9, 2026
Catalyst timeline
- 2024-08-14 · Phase 2 start: EVO756 in chronic inducible urticaria — Open-label study evaluating safety, tolerability, and efficacy of EVO756 in adults with chronic inducible urticaria.
- 2025-02-13 · Phase 2 start: EVO301 in atopic dermatitis — Randomized, double-blind, placebo-controlled proof-of-concept study of EVO301 in adults with atopic dermatitis.
- 2025-03-20 · Phase 2 start: EVO756 in chronic spontaneous urticaria — Dose-ranging study evaluating efficacy and safety of EVO756 in adults with moderate-to-severe CSU.
- 2025-08-26 · Phase 2 start: EVO756 in atopic dermatitis — Dose-ranging study evaluating efficacy and safety of EVO756 in adults with atopic dermatitis (program later halted).
Risks & what to watch (3)›
Key risks
- Pipeline setback — EVO756 atopic dermatitis program halted after Phase 2b failure [news · 2026-09-09].
- No revenue, ongoing losses — Zero revenue and net loss of -$32.2M as of 2026-06-30 [sec].
- Concentration on MRGPRX2 — Multiple programs rely on the same MRGPRX2 antagonist mechanism [news].
What to watch
- Phase 2b results for EVO756 in chronic spontaneous urticaria (data expected after June 2026) [news · 2026-06-29].
- Initiation and data from EVO301 Phase 2b subcutaneous trial in atopic dermatitis [news · 2026-10-01].
- Phase 2b migraine prophylaxis trial of EVO756 (first patient dosed July 2026) [news · 2026-07-30].
- Cash burn rate and any future financing needs given ongoing net losses [sec].
Sources: Catalysts · News · Generated October 6, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
Cash runway data unavailable
D/E 0.09 · 0% dilution
Lead: Phase 2
2 candidates
No upcoming catalysts tracked
2 buys · 9 sells (180d)
Pipeline
Regulatory
Financials
Short Interest
as of Apr 28, 2026- % of float
- 14.3%
- Days to cover
- 10.1
- Shares short
- 3,459,513
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
EVMN short interestGovernance
Frequently asked questions
What is the AI investment thesis for Evommune, Inc.?
Evommune, Inc. (EVMN) is a clinical-stage biotechnology company developing therapies for chronic inflammatory diseases, with lead programs in atopic dermatitis, chronic spontaneous urticaria, and migraine.
What is Evommune, Inc.'s lead drug candidate?
Evommune, Inc.'s most advanced tracked candidate is evo301 (Phase 2) for Atopic Dermatitis (AD).
Who is the CEO of Evommune, Inc.?
Mr. Luis C. Pena is the chief executive officer of Evommune, Inc. (EVMN).
Where is Evommune, Inc. headquartered?
Evommune, Inc. (EVMN) is headquartered in Palo Alto, CA, United States.
What therapeutic areas does Evommune, Inc. focus on?
Evommune, Inc. develops therapies across Neurology, Immunology, Pain, Dermatology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.