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Mar 31, 2021
Evelo Q1 2021 Earnings Report
Reported financial results and business highlights for the first quarter 2021.
Key Takeaways
Evelo Biosciences reported its Q1 2021 financial results, highlighting positive data from the Phase 1b clinical trial of EDP1815 for atopic dermatitis and a strategic collaboration with Abdul Latif Jameel Health. The company also strengthened its leadership team with new appointments.
Presented positive data from Phase 1b clinical trial of EDP1815 for atopic dermatitis at ISAD Meeting.
Strengthened leadership team with the appointments of Luca Scavo as CFO and Julie H. McHugh to Board of Directors.
Announced strategic collaboration with Abdul Latif Jameel Health to develop and commercialize EDP1815 in select developing markets.
Multiple clinical data readouts expected over next 18 months.
Forward Guidance
Evelo Biosciences anticipates multiple clinical data readouts across its inflammatory disease portfolio in the next 18 months. Key milestones include data from the Phase 2b dose-ranging trial of EDP1815 in psoriasis anticipated in Q3 2021, and interim data from the Phase 1b trial of EDP1867 in atopic dermatitis expected in Q4 2021.
Positive Outlook
- Data from Phase 1b cohorts with tablets and capsules for Psoriasis anticipated in 3Q 2021
- Full data from Phase 2b dose-ranging trial for Psoriasis anticipated in 3Q 2021
- Subject to regulatory approval, initiation of Phase 2 trial in Atopic Dermatitis in 3Q 2021
- Interim data from Phase 1b trial for Atopic Dermatitis expected in 4Q 2021
- Initiation of clinical development for Inflammation in 2022
Challenges Ahead
- Given the increase in vaccination rates, and lower number of patients hospitalized with COVID-19 at clinical trial sites, COVID-19 trials will continue longer than originally planned.
- The Company is unsure when it will be able to report data for COVID-19 trials
Historical Earnings Impact
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Avg. Return Before/After Earnings
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