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EVMN Home Investment Highlights Valuation, Metrics & Events Price Chart Why The Stock Moved Return vs. Risk About EVMN Interactive Breakdown Better Bets vs. EVMN Latest Trefis Analyses Trade Ideas More From Trefis Peer Comparisons FDIC Bank Data FDA Approved Drugs Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Forward Guidance Insider Activity Trade Sentinel Industry Resource Links External Quote Links

Evommune (EVMN)

Market Price (3/30/2026): $22.19 | Market Cap: $699.5 Mil
Sector: Health Care | Industry: Biotechnology

Evommune (EVMN)

Market Price (3/30/2026): $22.19
Market Cap: $699.5 Mil
Sector: Health Care
Industry: Biotechnology

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -21%		 Weak multi-year price returns
2Y Excs Rtn is -12%, 3Y Excs Rtn is -52%		 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -81 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -624%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 86%		 Meaningful short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 11.88		 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 45%
2 Megatrend and thematic drivers
Megatrends include Precision Medicine. Themes include Biopharmaceutical R&D, and Targeted Therapies. 		  Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -588%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -589%
3   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -14%
4   High stock price volatility
Vol 12M is 153%
5   Key risks
EVMN key risks include [1] a total dependence on the clinical and regulatory success of its lead programs, Show more.
0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -21%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 86%
2 Megatrend and thematic drivers
Megatrends include Precision Medicine. Themes include Biopharmaceutical R&D, and Targeted Therapies.
3 Weak multi-year price returns
2Y Excs Rtn is -12%, 3Y Excs Rtn is -52%
4 Meaningful short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 11.88
5 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -81 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -624%
6 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 45%
7 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -588%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -589%
8 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -14%
9 High stock price volatility
Vol 12M is 153%
10 Key risks
EVMN key risks include [1] a total dependence on the clinical and regulatory success of its lead programs, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Evommune (EVMN) stock has gained about 5% since 11/30/2025 because of the following key factors:

1. Positive Top-line Phase 2a Data for EVO301 in Atopic Dermatitis.

Evommune announced positive top-line data from its Phase 2a proof-of-concept trial of EVO301 in moderate-to-severe Atopic Dermatitis (AD) on February 10, 2026. The trial met its primary endpoint, demonstrating statistically significant EASI reductions versus placebo at weeks 4, 8, and 12, with a 33% placebo-adjusted improvement in EASI and a 23% placebo-adjusted IGA 0/1 at week 12. This positive news led to a notable stock increase of over 70% on that day.

2. Successful $125 Million Private Placement.

On February 12, 2026, Evommune announced the completion of a $125 million private placement. This significant capital infusion strengthened the company's balance sheet, extending its cash runway through 2028 and providing ample resources to advance its clinical development programs, particularly for EVO301.

Show more

Stock Movement Drivers

Fundamental Drivers

The 7.1% change in EVMN stock from 11/30/2025 to 3/29/2026 was primarily driven by a 85.7% change in the company's Total Revenues ($ Mil).
(LTM values as of)113020253292026Change
Stock Price ($)20.7122.187.1%
Change Contribution By: 
Total Revenues ($ Mil)71385.7%
P/S Multiple47.353.813.6%
Shares Outstanding (Mil)1632-49.2%
Cumulative Contribution7.1%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 3/29/2026
ReturnCorrelation
EVMN7.1% 
Market (SPY)-5.3%12.4%
Sector (XLV)-8.7%9.7%

Fundamental Drivers

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Market Drivers

8/31/2025 to 3/29/2026
ReturnCorrelation
EVMN  
Market (SPY)0.6%13.2%
Sector (XLV)5.2%7.6%

Fundamental Drivers

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Market Drivers

2/28/2025 to 3/29/2026
ReturnCorrelation
EVMN  
Market (SPY)9.8%13.2%
Sector (XLV)-2.1%7.6%

Fundamental Drivers

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Market Drivers

2/28/2023 to 3/29/2026
ReturnCorrelation
EVMN  
Market (SPY)69.4%13.2%
Sector (XLV)18.4%7.6%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
EVMN Return-----15%38%17%
Peers Return-33%-38%-29%-55%-48%8%-93%
S&P 500 Return27%-19%24%23%16%-5%72%

Monthly Win Rates [3]
EVMN Win Rate----50%67% 
Peers Win Rate31%44%44%36%50%53% 
S&P 500 Win Rate75%42%67%75%67%33% 

Max Drawdowns [4]
EVMN Max Drawdown-----26%-10% 
Peers Max Drawdown-40%-52%-49%-60%-61%-24% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-5% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: VRTX, AKTS, ALPS, DCOY, DFTX.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/27/2026 (YTD)

How Low Can It Go

EVMN has limited trading history. Below is the Health Care sector ETF (XLV) in its place.

Unique KeyEventXLVS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-16.1%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven19.1%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven599 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-28.8%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven40.4%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven116 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-15.8%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven18.8%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven326 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-40.6%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven68.3%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven1,100 days1,480 days

Compare to VRTX, AKTS, ALPS, DCOY, DFTX

In The Past

SPDR Select Sector Fund's stock fell -16.1% during the 2022 Inflation Shock from a high on 4/8/2022. A -16.1% loss requires a 19.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Evommune (EVMN)

Evommune is a clinical-stage biotechnology company developing innovative therapies that target key drivers of chronic inflammatory diseases, with initial clinical development programs focusing on chronic spontaneous urticaria (“CSU”), atopic dermatitis (“AD”) and ulcerative colitis (“UC”). Chronic inflammation is a significant healthcare problem in the world, substantially impacting patients’ quality of life and leading to life-threatening conditions. These conditions, if not prevented, ultimately lead to fatal diseases, such as cardiovascular diseases, diabetes and cancer, which contribute to three out of every five deaths worldwide and result in an estimated $90 billion of annual cost to the healthcare system in the United States. Our mission is to improve patients’ daily lives and prevent the long-term effects of uncontrolled inflammation that are a consequence of the limitations of existing therapies. To achieve this, we are advancing a portfolio of differentiated product candidates that target key drivers of chronic inflammation. Our management team’s proven drug development expertise and experience in the field of immunology and inflammation, combined with advanced scientific tools, enable us to identify and advance potent, highly selective molecules with distinctive mechanisms of action. By identifying treatment gaps of chronic inflammatory diseases, we strive to transform the treatment landscape, developing therapies that have the potential to offer rapid symptom relief and provide safe, durable resolution of the underlying disease. Among our portfolio of programs, we currently have two product candidates, EVO756 and EVO301, in Phase 2 trials. We are initially developing EVO756 for the treatment of CSU and AD, and EVO301 for the treatment of AD and UC. We see broad expansion potential for both programs across additional chronic inflammatory diseases. We also intend to advance additional preclinical programs into clinical development. Our most advanced clinical-stage product candidate, EVO756, is a potent and highly selective oral small molecule antagonist of MRGPRX2, a receptor predominantly found on mast cells and peripheral sensory neurons. We conducted a Phase 1 proof-of-concept trial in 132 healthy volunteers designed to assess the safety, tolerability, pharmacokinetic (“PK”) properties and pharmacodynamic (“PD”) properties of orally administered EVO756. EVO756 was observed to be well-tolerated at all doses tested, with no serious adverse events (“SAEs”), and PK results supporting daily dosing. As part of the trial, we conducted a skin challenge test in which EVO756 was observed to robustly decrease the healthy volunteers’ wheals induced by a MRGPRX2 ligand (“icatibant”), evidencing meaningful target engagement at all doses tested. We are currently conducting a Phase 2b trial of EVO756 in CSU and have completed a Phase 2 trial of EVO756 in chronic inducible urticaria (“CIndU”, and together with CSU, chronic urticarias or “CU”). Our CIndU Phase 2 trial was completed in May 2025 and generated data that demonstrated clinical activity (including improvement in FricTest score and pruritus numerical rating score (“pruritus-NRS”), as described below) in a patient population with symptomatic dermographism. Given significant overlap between the diseases and patient populations along with the contribution of neurogenic inflammation, we believe this supports the continued advancement of our CSU program. In addition, we believe EVO756’s clinical activity in symptomatic dermographism patients strongly supports the role of MRGPRX2 in neurogenic inflammation and supports the initiation of our AD program, as neurogenic inflammation plays a crucial role in both symptomatic dermographism and AD. In our Phase 2 CIndU trial, 70% (n=19) of the 27 observed patients demonstrated improvement at just four weeks, with 30% (n=8) of the observed patients achieving a complete response (achieving a FricTest score of zero (a clinician rated measure of symptomatic dermographism severity ranging from 0 to 4, with higher scores indicating greater severity)), of which 50% were immunoglobulin E (“IgE”) high (as defined by a serum IgE level of ≥100 IU/mL). An additional 11% (n=3) achieved a partial response as defined by a ≥2-point decrease in FricTest score and a further 30% (n=8) demonstrated a one-point decrease in FricTest score. Observed patients in the 300 mg once daily (“QD”) cohort saw an average reduction of 1.4 points in FricTest score after four weeks and observed patients in the 50 mg twice daily (“BID”) cohort saw an average reduction of 1.5 points. By comparison, in separate, independent trials conducted by third parties, patients treated with 300 mg omalizumab (n=19) saw a reduction of 1.4 points and patients treated with 300 mg barzolvolimab (n=33) saw a reduction of 1.6 points in FricTest score after four weeks. In addition, in our Phase 2 CIndU trial, both the 300 mg QD and the 50 mg BID doses of EVO756 were observed to result in rapid itch relief to patients, with observed patients in the 300 mg QD cohort experiencing an average reduction in pruritus-NRS of 2.4 points and observed patients in the 50 mg BID cohort seeing an average reduction of 2.1 points. Importantly, 93% (n=25) of observed patients demonstrated improvement at just four weeks in either FricTest or pruritus-NRS. Further, 75% (n=6) of those who did not achieve a decrease in FricTest score demonstrated a decrease in pruritus-NRS, evidencing the impact of EVO756 on itch at this early time-point, even in the absence of FricTest response. We initiated a Phase 2b dose-ranging trial in CSU in April 2025 and expect to report initial results in the first half of 2026. We also initiated a Phase 2b dose-ranging trial in moderate-to-severe AD patients in August 2025 and expect to report initial results in the second half of 2026. We plan to evaluate EVO756 in additional indications in which mast cell degranulation and neuroinflammation are key drivers of disease. Our second clinical-stage product candidate, EVO301, is a long-acting fusion protein consisting of an IL-18 binding protein (“BP”) and an anti-serum albumin Fab-associated (“SAFA”) domain. IL-18 is a pro-inflammatory cytokine of the IL-1 family that regulates various immune processes that drive inflammation and is a potent modulator of ongoing inflammation. We believe EVO301’s optimized approach to IL-18 binding and neutralization could enable significant advantages and differentiated clinical outcomes for patients, including with respect to efficacy, tissue distribution, dosing profile and reduced immunogenicity risk. In addition, EVO301’s distinct mechanism and modality complement those of EVO756, providing us with multiple potential avenues to bring innovative therapeutics to the large, underserved and rapidly expanding patient population suffering from chronic inflammatory diseases. We initiated a Phase 2 trial of EVO301 in adult patients with moderate-to-severe AD in March 2025 and expect to report initial results in the first half of 2026. Beyond AD, we plan to initiate a Phase 2 trial in moderate-to-severe UC patients in 2026. After completion of this UC trial, we may also evaluate EVO301 in Crohn’s disease and additional indications for which regulating the IL-18 pathway may reduce pro-inflammatory mediators driving tissue damage and chronic inflammation. Our principal executive offices are located in Palo Alto, CA.

AI Analysis | Feedback

Here are 1-3 brief analogies to describe Evommune:

  • An emerging Regeneron or Sanofi, but specializing in novel oral and biologic treatments for chronic inflammatory conditions like hives and eczema.
  • A clinical-stage AbbVie, dedicated to developing the next generation of therapies for a broad range of chronic inflammatory diseases.

AI Analysis | Feedback

  • EVO756: An oral small molecule antagonist of MRGPRX2, currently in Phase 2 development for chronic spontaneous urticaria (CSU) and atopic dermatitis (AD).
  • EVO301: A long-acting fusion protein designed to neutralize IL-18, currently in Phase 2 development for atopic dermatitis (AD) and planned for ulcerative colitis (UC).

AI Analysis | Feedback

Based on the provided background information, Evommune (EVMN) is a clinical-stage biotechnology company focused on developing therapies for chronic inflammatory diseases. The company is currently advancing product candidates (EVO756 and EVO301) through Phase 2 clinical trials.

As a clinical-stage company, Evommune does not yet have commercially approved products available for sale. Therefore, it does not currently have major customers, either other companies or individuals, to whom it sells therapies.

Its primary activities involve research and development, conducting clinical trials, and seeking regulatory approval for its drug candidates. If successful, its therapies would eventually be prescribed to individual patients through healthcare providers, but this stage has not yet been reached.

AI Analysis | Feedback

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AI Analysis | Feedback

Luis Peña, Co-Founder, President & Chief Executive Officer

Luis Peña is a co-founder of Evommune and has served as its President and Chief Executive Officer since April 2020. He brings over 30 years of experience in the biotech and pharmaceutical industries. Prior to co-founding Evommune, Mr. Peña co-founded Dermira in August 2010, where he served as Chief Development Officer and led its R&D group through the company's acquisition by Eli Lilly & Company for $1.1 billion in 2020. Before Dermira, he held positions as Vice President, Head of Global Prescription Development at Stiefel (a GSK company), and Senior Vice President, Portfolio Planning and Management at Stiefel Laboratories before its acquisition by GSK. His career also includes leadership roles in portfolio management and product development at Connetics and Theravance, as well as positions in manufacturing and R&D at Genentech.

Kyle Carver, Chief Financial Officer

Kyle Carver is the Chief Financial Officer of Evommune. He joined Evommune from Kadmon Holdings, Inc., a Sanofi Company, where he was the Chief Accounting Officer. In this role, he managed all financial and accounting operations, including Kadmon's transition to a public company following its 2016 initial public offering, through the approval and commercialization of REZUROCK® in 2021. Mr. Carver was instrumental in raising over $500 million through various offerings and played a key role in the deal-making activities, including Sanofi's $1.9 billion acquisition of Kadmon in November 2021. Earlier in his career, he held a senior position at KPMG, where he advised numerous life science clients. He is a Certified Public Accountant.

Dr. Eugene A. Bauer, M.D., Co-Founder, Chief Medical Officer and Director

Dr. Eugene A. Bauer is a co-founder of Evommune and serves as its Chief Medical Officer and a Director. He is also a former executive of Dermira.

Dr. Jeegar Patel, Ph.D., Chief Scientific Officer

Dr. Jeegar Patel was appointed Chief Scientific Officer of Evommune in October 2022. Before joining Evommune, he was the Senior Vice President, Research and Nonclinical Development at Kadmon Holdings, Inc. (a Sanofi Company), where he led the research and development organization with a focus on fibrosis, immunology, and immuno-oncology. Dr. Patel contributed to multiple IND and NDA filings, including the development and approval of Rezurock®, which preceded Sanofi's $1.9 billion acquisition of Kadmon in late 2021. Prior to Kadmon, he was a Nonclinical Development Project Leader at ImClone Systems (acquired by Eli Lilly in 2008), where he supported the approval of Cyramza®, Portrazza®, and Lartruvo®.

Gregory S. Moss, Esq., Chief Business & Legal Officer, Corporate Secretary and Chief Compliance Officer

Gregory S. Moss serves as Evommune's Chief Business & Legal Officer, Corporate Secretary, and Chief Compliance Officer.

AI Analysis | Feedback

The key risks to Evommune's business include:

  1. Clinical Trial Failure and Regulatory Uncertainty: Evommune's success is critically dependent on its ability to successfully complete clinical trials for its lead product candidates, EVO756 and EVO301, and obtain regulatory approval. Both candidates are currently in Phase 2 trials, with initial results expected in 2026. Failure to demonstrate safety and efficacy in these or subsequent trials, or an inability to obtain necessary regulatory approvals, would severely impact the company's prospects.

  2. Intense Competition: Evommune operates in a highly competitive market for chronic inflammatory diseases, facing competition from established pharmaceutical companies and other biotechnology firms. The company itself notes comparisons to existing treatments like omalizumab and barzolvolimab. The emergence of new therapies or more effective existing treatments could limit the market potential and commercial success of Evommune's product candidates, even if they are approved.

  3. Dependence on a Limited Product Pipeline: Evommune's near-term business and future growth are heavily reliant on the successful development and commercialization of its two primary clinical-stage product candidates, EVO756 and EVO301. While the company has plans for additional indications and preclinical programs, a failure in either of these lead programs would significantly hinder its ability to generate revenue and sustain operations in the short to medium term.

AI Analysis | Feedback

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AI Analysis | Feedback

Evommune (EVMN) is developing therapies for chronic inflammatory diseases, with its main product candidates, EVO756 and EVO301, targeting significant addressable markets.

EVO756 Addressable Markets:

  • Chronic Spontaneous Urticaria (CSU): The global market for Chronic Spontaneous Urticaria is estimated to be valued at approximately USD 2.66 billion in 2025 and is projected to reach USD 5.49 billion by 2032. In the 7MM (United States, EU4, and Japan), the market was approximately USD 2 billion in 2025 and is projected to grow to USD 7.555 billion by 2034. The U.S. market alone was approximately USD 1 billion in 2024.
  • Atopic Dermatitis (AD): The global atopic dermatitis market size is projected to be USD 19.38 billion in 2025 and is expected to reach USD 33.29 billion by 2031. Another source estimates the global market at USD 6.62 billion in 2025, growing to USD 13.96 billion by 2035. The 7MM market for Atopic Dermatitis was around USD 17 billion in 2023. North America held the largest share of the global atopic dermatitis market in 2025, accounting for 41.30% of the market.

EVO301 Addressable Markets:

  • Atopic Dermatitis (AD): As mentioned above, the global atopic dermatitis market size is projected to be USD 19.38 billion in 2025 and is expected to reach USD 33.29 billion by 2031.
  • Ulcerative Colitis (UC): The global ulcerative colitis treatment market is anticipated to grow from USD 11.01 billion in 2025 to USD 15.81 billion by 2034. Another estimate places the global market at USD 10.56 billion in 2025, expected to reach USD 13.59 billion by 2031. The Ulcerative Colitis market size in the 7MM was approximately USD 8.4 billion in 2023. The U.S. market accounted for approximately USD 5.9 billion in 2023. North America commanded 43.25% of the global ulcerative colitis market revenue in 2025.

AI Analysis | Feedback

Here are 3-5 expected drivers of future revenue growth for Evommune (EVMN) over the next 2-3 years:

  1. Advancement of EVO756 in Chronic Spontaneous Urticaria (CSU): Evommune expects to report initial results from its Phase 2b dose-ranging trial of EVO756 in CSU in the first half of 2026. Positive clinical data and progression to later stages of development for this lead product candidate could significantly increase its commercial potential and attract partnerships or investment, which are drivers of future revenue.
  2. Progression of EVO756 in Atopic Dermatitis (AD): The company initiated a Phase 2b dose-ranging trial for EVO756 in moderate-to-severe AD in August 2025, with initial results anticipated in the second half of 2026. Successful outcomes in this large market could pave the way for a significant new revenue stream.
  3. Clinical Development of EVO301 in Atopic Dermatitis (AD): Evommune began a Phase 2 trial for EVO301 in adult patients with moderate-to-severe AD in March 2025, with initial results expected in the first half of 2026. The successful development of a second clinical-stage product candidate in a major inflammatory disease market represents a crucial driver for future revenue.
  4. Expansion of EVO301 into Ulcerative Colitis (UC): The company plans to initiate a Phase 2 trial of EVO301 in moderate-to-severe UC patients in 2026. Entry into the ulcerative colitis market, a significant chronic inflammatory disease, represents a new potential market expansion for EVO301 and a driver of long-term revenue growth.
  5. Pipeline Expansion into Additional Chronic Inflammatory Diseases: Evommune intends to evaluate both EVO756 and EVO301 in additional indications where their respective mechanisms of action are key drivers of disease (e.g., EVO756 in other neuroinflammatory conditions; EVO301 in Crohn's disease and other IL-18 driven conditions). This strategic expansion of their product candidates into new therapeutic areas provides multiple avenues for future revenue generation beyond their current primary indications.

AI Analysis | Feedback

Share Issuance

  • Evommune completed its Initial Public Offering (IPO) on November 6, 2025, raising approximately $150 million by selling about 9.38 million shares at $16 per share.
  • In February 2026, the company announced a $125 million private placement, issuing common stock to new and existing institutional investors.
  • The number of shares outstanding for Evommune increased by 306.86% in one year.

Inbound Investments

  • In February 2026, Evommune secured a $125 million private placement from a select group of new and existing mutual funds and dedicated healthcare institutional investors.
  • Evommune's revenue in 2025 saw an increase due to a licensing collaboration for EVO756 in Japan.

Capital Expenditures

  • Capital expenditures for Evommune in the last 12 months totaled -$235,000.
  • In the fourth quarter of 2025, Evommune invested $104,000 in capital expenditures, focusing on funding long-term assets and infrastructure.
  • Proceeds from the IPO are allocated to funding Phase 2 clinical trials for EVO756 and EVO301, strengthening operational capabilities, and supporting expansion into additional indications.

Latest Trefis Analyses

TitleDate
0DASHBOARDS 
1Evommune Earnings Notes12/16/2025
Title
0ARTICLES

Trade Ideas

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Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
QDEL_2282026_Insider_Buying_45D_2Buy_200K02282026QDELQuidelOrthoInsiderInsider Buys 45DStrong Insider Buying
Companies with multiple insider buys in the last 45 days		0.0%0.0%0.0%
CHE_2272026_Dip_Buyer_FCFYield02272026CHEChemedDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		0.0%0.0%0.0%
LLY_2272026_Monopoly_xInd_xCD_Getting_Cheaper02272026LLYEli LillyMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		0.0%0.0%0.0%
HAE_2202026_Dip_Buyer_FCFYield02202026HAEHaemoneticsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		3.5%3.5%0.0%
IQV_2132026_Dip_Buyer_ValueBuy02132026IQVIQVIADip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		7.1%7.1%-3.0%

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Peer Comparisons

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Financials

EVMNVRTXAKTSALPSDCOYDFTXMedian
NameEvommune Vertex P.Aktis On.ALPS Decoy Th.Definium. 
Mkt Price22.18433.0715.191.006.3017.8816.54
Mkt Cap0.7109.8--0.0-0.7
Rev LTM1312,001--006
Op Inc LTM-814,554---5-166-43
FCF LTM-773,194---4-132-40
FCF 3Y Avg-1,832---9-92-9
CFO LTM-763,631---4-132-40
CFO 3Y Avg-2,225---9-92-9

Growth & Margins

EVMNVRTXAKTSALPSDCOYDFTXMedian
NameEvommune Vertex P.Aktis On.ALPS Decoy Th.Definium. 
Rev Chg LTM85.7%8.9%----47.3%
Rev Chg 3Y Avg-10.4%----10.4%
Rev Chg Q-9.5%----9.5%
QoQ Delta Rev Chg LTM0.0%2.4%----1.2%
Op Mgn LTM-623.6%37.9%-----292.8%
Op Mgn 3Y Avg-24.7%----24.7%
QoQ Delta Op Mgn LTM-63.6%38.7%-----12.4%
CFO/Rev LTM-588.0%30.3%-----278.9%
CFO/Rev 3Y Avg-20.5%----20.5%
FCF/Rev LTM-588.8%26.6%-----281.1%
FCF/Rev 3Y Avg-17.0%----17.0%

Valuation

EVMNVRTXAKTSALPSDCOYDFTXMedian
NameEvommune Vertex P.Aktis On.ALPS Decoy Th.Definium. 
Mkt Cap0.7109.8--0.0-0.7
P/S53.89.2----31.5
P/EBIT-8.623.6---0.0--0.0
P/E-10.227.8---0.1--0.1
P/CFO-9.130.2---0.1--0.1
Total Yield-9.8%3.6%---1,979.5%--9.8%
Dividend Yield0.0%0.0%--0.0%-0.0%
FCF Yield 3Y Avg-1.7%---9,205.1%--4,601.7%
D/E0.00.0--0.0-0.0
Net D/E-0.2-0.0---19.0--0.2

Returns

EVMNVRTXAKTSALPSDCOYDFTXMedian
NameEvommune Vertex P.Aktis On.ALPS Decoy Th.Definium. 
1M Rtn-14.7%-12.8%-24.5%4.2%-22.9%2.5%-13.8%
3M Rtn28.9%-6.4%∞%1.0%-20.1%18.8%1.0%
6M Rtn9.6%12.3%∞%5.3%-86.2%18.8%9.6%
12M Rtn9.6%-12.1%253,066.7%5.3%-95.9%18.8%7.5%
3Y Rtn9.6%38.7%408.0%5.3%-99.8%18.8%14.2%
1M Excs Rtn-8.9%-2.0%-14.8%8.8%-15.3%11.2%-5.4%
3M Excs Rtn34.2%1.7%∞%15.0%-9.3%26.9%15.0%
6M Excs Rtn13.2%17.0%∞%8.9%-83.1%22.4%13.2%
12M Excs Rtn-1.9%-24.9%337,444.1%-6.2%-107.4%7.3%-4.0%
3Y Excs Rtn-52.1%-16.4%376.9%-56.5%-161.6%-43.0%-47.5%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil2025
Single Segment5
Total5


Net Income by Segment
$ Mil2025
Single Segment-34
Total-34


Short Interest

Short Interest: As Of Date3132026
Short Interest: Shares Quantity3.1 Mil
Short Interest: % Change Since 22820261.2%
Average Daily Volume0.3 Mil
Days-to-Cover Short Interest11.9 days
Basic Shares Quantity31.5 Mil
Short % of Basic Shares9.7%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
12/11/2025-8.5%-23.8%6.3%
SUMMARY STATS   
# Positive001
# Negative110
Median Positive  6.3%
Median Negative-8.5%-23.8% 
Max Positive  6.3%
Max Negative-8.5%-23.8% 

SEC Filings

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Report DateFiling DateFiling
12/31/202503/05/202610-K
09/30/202512/11/202510-Q
06/30/202511/06/2025424B4
03/31/202507/18/2025DRS/A
06/30/202410/17/2025S-1/A

Insider Activity

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#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Hopfner, Robert Lorne TrustBuy1222202517.351,00017,35069,851Form
2Ra, Capital Management, LpSee FootnotesBuy1112202516.001,250,00020,000,00042,790,800Form
3Lsp, 7 Cooperative UaDirectBuy1112202516.001,562,50025,000,00078,874,128Form
4Verduyn-Van, Weegen Felice IsabelLSP 7 Cooperatief U.A.Buy1112202516.001,562,50025,000,00078,874,128Form

Industry Resources

External Quote Links


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