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Jun 30, 2020
Evelo Q2 2020 Earnings Report
Reported financial results for the second quarter and provided business highlights.
Key Takeaways
Evelo Biosciences reported its second quarter 2020 financial results, highlighting the advancement of its programs in psoriasis, COVID-19, atopic dermatitis, and triple-negative breast cancer (TNBC).
FDA authorized IND for Phase 2 trial of EDP1815 in COVID-19 in the U.S.; data expected in 4Q 2020.
Regulatory and ethics authorization achieved for Phase 2 dose ranging trial for EDP1815 in moderate psoriasis in the U.S., UK, and EU; trial initiation expected in 3Q 2020 with interim data expected by mid-2021.
Additional data from Phase 1/2 trial of EDP1503 in TNBC expected in 4Q 2020.
Up to 6 clinical readouts expected over next 6-12 months.
Evelo
Evelo
Forward Guidance
Evelo expects that its cash and cash equivalents, including the $10 million additional debt, will enable it to fund its planned operating expenses and capital expenditure requirements into the third quarter of 2021.