Evommune shares plunge 38% after EVO756 fails Phase 2b trial in CSU

Evommune Inc. shares fell 38% on June 29 after EVO756, its lead drug candidate, failed to meet the primary endpoint in a Phase 2b trial for moderate-to-severe chronic spontaneous urticaria (CSU).

"The company's disclosure that EVO756 did not achieve statistical significance on the primary endpoint of mean change in UAS7 at 12 weeks raises serious questions about the accuracy of prior statements regarding the drug's clinical prospects," Joseph E. Levi, founding partner at Levi & Korsinsky, said.

The single-session decline erased weeks of accumulated gains, with EVMN shares trading above $22 as recently as the week of June 22 before the June 29 disclosure. The Phase 2b trial was evaluating EVO756, an oral small-molecule MRGPRX2 antagonist, in patients with CSU — a condition characterized by chronic hives and itching lasting six weeks or longer. The primary endpoint measured change in the Urticaria Activity Score over seven days (UAS7) at 12 weeks.

The CSU indication represented Evommune's most advanced clinical milestone, and the failure removes the nearest potential regulatory catalyst from the company's pipeline. Evommune said it would continue developing EVO756 in atopic dermatitis and migraine, though those programs are at earlier stages with no near-term readout dates disclosed. The stock decline puts EVMN at its lowest level since the company's public listing, testing investor confidence in the remaining pipeline. Levi & Korsinsky has opened a securities fraud investigation into whether Evommune made materially false or misleading statements about EVO756's development status prior to the trial disclosure.

This article is for informational purposes only and does not constitute investment advice.