Evelo dealt another blow with a PhII fail, plans for strategic alternatives

Evelo Bio­sciences is ex­plor­ing strate­gic al­ter­na­tives for its mid-stage pso­ri­a­sis treat­ment af­ter it re­port­ed that an­oth­er pso­ri­a­sis drug failed a Phase II clin­i­cal tri­al.

Since the mar­ket opened, Evelo’s stock $EV­LO has plum­met­ed by about 46% to $1.48 per share.

The com­pa­ny said Tues­day that the Phase II tri­al of EDP2939, a mi­cro­bial ex­tra­cel­lu­lar vesi­cle that is de­liv­ered oral­ly to pa­tients, did not achieve its pri­ma­ry end­point af­ter 16 weeks of dai­ly treat­ment com­pared to a place­bo. The tri­al in­ves­ti­gat­ed how many pa­tients showed a 50% im­prove­ment in mod­er­ate pso­ri­a­sis af­ter treat­ment with EDP2939 us­ing the Pso­ri­a­sis Area and Sever­i­ty In­dex score. Evelo stopped de­vel­op­ment of EDP2939.

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