Evommune has aced its first major test as a public company, reporting phase 2a eczema data that caused its share price to jump 75% in premarket trading.
The biotech, which went public late last year, shared data on its long-acting IL-18 fusion protein in people with moderate to severe atopic dermatitis. Evommune reported a statistically significant improvement in Eczema Area and Severity Index (EASI) scores in people taking its intravenous drug candidate, EVO301, compared to placebo, achieving the trial’s primary endpoint.
At Week 12, Evommune saw a 55% EASI reduction in the EVO301 cohort, versus a 22% dip in the placebo arm. Patients on EVO301 also performed significantly better on EASI than their peers on placebo at Week 4 and Week 8.
William Blair analysts said in a note to investors that the competitive EASI reductions achieved by the nonoptimized dosing regimen show the strong potential of IL-18 inhibition. The 33% placebo-adjusted reduction in absolute EASI score at Week 12 is potentially competitive with marketed biologics such as Regeneron and Sanofi’s Dupixent, which achieved a 35% to 36% reduction at Week 16 in phase 3 trials.
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The analysts flagged scores on the validated Investigator’s Global Assessment for Atopic Dermatitis as further evidence that EVO301 could be competitive. At Week 12, 23% of people on EVO301 scored 0 or 1 on the scale and had at least a two-point reduction from baseline. The analysts said the result appears to be in the range set by Dupixent and Eli Lilly’s Ebglyss, while noting the potential for results to improve.
“We highlight that the EVO301 phase 2a results are highly encouraging given that patients only received two doses of EVO301 at a single dose level,” the analysts said. “Therefore, we believe greater efficacy could be achieved with a more optimized dosing regimen and potentially greater IL-18 inhibition.”
Evommune is planning a phase 2b trial that will test a subcutaneous version of EVO301. On a call with analysts to discuss the data, Evommune CEO Luis Peña said the phase 2b trial could either test a higher dose—because the molecule has been well tolerated to date—increase the dosing frequency or pull both levers. Peña said the heterogeneity of atopic dermatitis and failure of existing drugs to achieve the efficacy levels seen in indications such as psoriasis create incentives to dial up dosing to improve outcomes.
The biotech is also assessing the potential to move into other indications including ulcerative colitis. The company listed starting a phase 2 trial in ulcerative colitis as a goal for 2026 in its IPO paperwork last year. Peña said “it is possible that we would initiate a proof-of-concept sooner [rather] than later, especially with this validation of its activity right now.”
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The expansion plan reflects evidence that the IL-18 pathway plays a role in several chronic inflammatory disease populations with a significant number of uncontrolled patients. Having seen anti-IL-18 antibodies underwhelm, Evommune identified a fusion protein designed to neutralize the IL-18 pathway as a better approach. In theory, the fusion protein could penetrate inflamed tissues more than antibodies.
Evommune’s share price rose 75% to almost $30 in premarket trading Tuesday from a Monday closing price of $16.99.
