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Dec 31, 2020
Evelo Q4 2020 Earnings Report
Reported financial results and business highlights.
Key Takeaways
Evelo Biosciences announced positive clinical data readout with EDP1815 and reported financial results for the fourth quarter and full year 2020. The company initiated a Phase 1b clinical trial of EDP1867 in atopic dermatitis and strengthened its balance sheet with $88 million in net proceeds from recent sales of common stock.
Announced new positive data in human experimental model of inflammation of EDP1815.
Completed enrollment in Phase 2b dose-ranging trial for EDP1815 in psoriasis; full data set accelerated and now expected in 3Q 2021.
Initiated Phase 1b clinical trial of EDP1867 in atopic dermatitis; data expected in 4Q 2021.
Up to 8 clinical data readouts expected over next 18 months.
Evelo
Evelo
Forward Guidance
Evelo anticipates several key milestones in the near future, including data readouts from ongoing clinical trials and initiation of new clinical development programs.
Positive Outlook
- Data from Phase 1b cohorts with A2 tablets and A2 capsules for EDP1815 in Psoriasis.
- Full data from Phase 2b dose-ranging trial for EDP1815 in Psoriasis.
- Potential initiation of Phase 2 trial for EDP1815 in Atopic Dermatitis in 3Q 2021, subject to regulatory approval.
- Data from Phase 2 trial with Rutgers University for EDP1815 in COVID-19 in 2Q 2021.
- Interim safety and futility analysis from Phase 2/3 TACTIC-E trial for EDP1815 in COVID-19 in 2Q 2021.
Challenges Ahead
- Potential delays in regulatory approval for Phase 2 trial of EDP1815 in Atopic Dermatitis.
- Uncertainty regarding the timing and results of clinical trial readouts.
- Dependence on third parties and collaborators for clinical trials and manufacturing.
- Risks associated with the lengthy and expensive process of clinical drug development.
- Potential impact of the COVID-19 pandemic on operations and clinical trials.