Evelo Biosciences (EVLO) Building Momentum

Evelo Biosciences Inc. (EVLO), which touched $6.82 in early trading, up 23% from the previous day’s close, is one of the top gainers of the day as the Company continues to build on the momentum, with multiple clinical readouts planned across its inflammation and oncology portfolio this year.

The Company’s lead investigational asset is EDP1815, which is expected to enter into phase II study in mild to moderate psoriasis in the second quarter of 2020, with interim data expected by the end of this year.

EDP1815 in a new formulation is also under a phase Ib trial in mild to moderate psoriasis and in phase Ib study in mild to moderate atopic dermatitis. Initial clinical data from the two phase Ib trials are expected in the second quarter of 2020.

Also in the pipeline are:

— EDP1867, which is expected to move into a phase Ib clinical trial in individuals with asthma in the second half of 2020.

— EDP1503 in combination with Merck’s KEYTRUDA in phase I/II clinical trial in individuals with microsatellite colorectal cancer, triple-negative breast cancer, or other tumor types who have relapsed on prior PD-1/L1 inhibitor treatment. Additional data from this study is expected in the first half of 2020.

Recent Quarterly Scorecard:

Net loss attributable to common stockholders for the fourth quarter ended December 31, 2019, widened to $22.6 million or $0.70 per share from $15.44 million or $0.49 per share in the year-ago quarter. No revenue has been generated to date.

As of December 31, 2019, the Company had cash and cash equivalents of $77.8 million.

EVLO has traded in a range of $3.58 to $10.09 in the last 1 year. As of this writing, the stock is up 13.38% at $6.27.

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