Leerink Partners Maintains Outperform on Evommune, Lowers Price Target to $22
Leerink Partners analyst Thomas Smith maintains Evommune (NYSE:EVMN) with a Outperform and lowers the price target from $28 to $22.
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Evommune Reveals Top-Line Results From EVO756 Phase 2b Trial In Moderate-To-Severe Atopic Dermatitis; Says Trial Did Not Meet The Primary Endpoint Of Percent Change In Eczema Area And Severity Index Score From Baseline At Week 12; EVO756 Was Generally Well Tolerated; To Continue Phase 2b Development Of EVO756 In Migraine Prophylaxis; Will Not Advance EVO756 In Atopic Dermatitis
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Evommune shares are trading lower after the company announced topline results from its dose-ranging Phase 2b trial assessing oral EVO756 for moderate-to-severe atopic dermatitis. The experimental drug failed to reach both its primary and secondary endpoints across all tested dose levels, and the firm decided that it would not move EVO756 forward for atopic dermatitis.
RBC Capital Maintains Outperform on Evommune, Lowers Price Target to $21
Evommune Halts Atopic Dermatitis Program Following Trial Failure
Evommune halts EVO756 development in atopic dermatitis following a Phase 2b trial failure, shifting focus to its EVO301 candidate.