Evelo Biosciences price target lowered to $17 from $21 at BMO Capital » 08:3907/0207/02/20
BMO Capital analyst…
BMO Capital analyst Matthew Luchini lowered the firm's price target on Evelo Biosciences to $17 from $21 to reflect the dilution from the company's recent follow-on offering. The analyst still keeps an Outperform rating on the shares and sees the interim results from the company's ongoing Phase 1/2 open-label trial of EDP1503 plus Keytruda as "early but encouraging" given its 33% objective response rate, supporting further enrollment to assess the potential of the drug.
Evelo Biosciences to present data from Phase 1/2 trial of EDP1503 » 07:1107/0107/01/20
Evelo Biosciences announced that clinical data from the Phase 1/2 open-label study of EDP1503, in combination with pembrolizumab, in patients with advanced metastatic microsatellite stable colorectal carcinoma, triple-negative breast cancer, and checkpoint inhibitor relapsed tumors, will be presented at the ESMO World Congress on Gastrointestinal Cancer Virtual Meeting being held July 1 - 4, 2020. In addition to data in MSS CRC patients, the poster reported preliminary data on 11 TNBC patients. An overall response rate of 25% and a disease control rate of 37.5% were observed across all TNBC subjects receiving high dose EDP1503. ORR was 33% amongst response-evaluable patients on the high dose, with 2 patients awaiting first response assessment. Historic studies of anti-PD-1 monotherapy in heavily pretreated TNBC patients have yielded an ORR of 5-10%. The study continues enrollment in TNBC, and further data from this cohort will be available in 4Q 2020.
|Over a week ago|
Evelo Biosciences 12M share Spot Secondary priced at $3.75 » 19:5806/2406/24/20
The deal size was…
The deal size was increased to $45M from $40M and priced at low end of $3.75-$3.80 range. Morgan Stanley, Cowen and BMO Capital are acting as joint book running managers for the offering.
Fly Intel: After-Hours Movers » 19:0606/2406/24/20
FUL, ALLY, BDN, RPAI, TALO, XLRN, YEXT, KBH, QMCO, NG, BB, QURE, XERS, NK, EVLO, VSLR, TBIO, SEDG
Check out this evening's…
Evelo Biosciences files to sell $40M in common stock » 16:0206/2406/24/20
Morgan Stanley, Cowen and…
Morgan Stanley, Cowen and BMO Capital Markets are acting as joint book-running managers for the offering.
Fly Intel: Pre-market Movers » 09:0306/2206/22/20
SPCE, EVOK, PCG, MYO, EVLO, AAL, TSN, LK, NBRV
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Evelo Biosciences advances EDP1815 to Phase 2/3 TACTIC-E COVID-19 Trial » 05:3706/2206/22/20
Evelo Biosciences announced that EDP1815 will be included in the TACTIC-E clinical trial. The trial will evaluate the safety and efficacy of certain experimental therapies in the prevention and treatment of life-threatening complications associated with COVID-19 in hospitalized patients at early stages of the disease. The trial's lead investigator is Dr. Joseph Cheriyan, Consultant Clinical Pharmacologist at Addenbrooke's Hospital in Cambridge, and is sponsored by Cambridge University Hospitals NHS Foundation Trust. Dr. Cheriyan said, "This is a critical time in the fight against COVID-19, and I am delighted that Cambridge is playing a key role in this. TACTIC-E will test the effectiveness of a number of experimental medicines in patients admitted to hospital, with a strong focus on identifying novel and clinically useful drugs early on. It will collect high quality data that can be used by our partner pharmaceutical companies to potentially seek approvals for widespread international use. We have opted to investigate EDP1815 in this trial given the tolerability and the modulation of multiple inflammatory pathways observed in a Phase 1b clinical trial for psoriasis. We look forward to evaluating EDP1815 as part of TACTIC-E." The company said in a release, "TACTIC-E is a Phase 2/3 randomised trial which will evaluate up to 469 patients per arm at Addenbrooke's Hospital and other leading UK clinical centres. The trial will enroll patients with COVID-19 who have identified risk factors for developing severe complications and are at risk of progression to the intensive care unit or death. Eligible patients will be randomised equally to either one of the active arms or treated with standard of care alone. Patients in arm 1 will be dosed with EDP1815 in addition to standard of care; patients in arm 2 will be dosed with a combination of ambrisentan and dapagliflozin in addition to standard of care; and patients in arm 3 will be treated with standard of care only. The primary outcome measure is a reduction in the number of patients who develop severe complications of organ failure, ventilation, or death. Secondary outcome measures include duration of stay in hospital, duration of oxygen therapy, changes in biomarkers associated with COVID-19 progression, and time to clinical improvement. Interim analyses will be performed over the course of the trial to evaluate results for signals of safety and efficacy. Interim data from the trial are anticipated during the fourth quarter of 2020. If the Phase 2/3 data are positive, Evelo plans to engage in discussions with global regulatory agencies to determine if the data support registration."
|Over a month ago|
Morgan Stanley downgrades Evelo to Equal Weight after AD discontinuation » 07:4805/2105/21/20
As previously reported,…
As previously reported, Morgan Stanley analyst Matthew Harrison downgraded Evelo Biosciences to Equal Weight from Overweight with a price target of $8, down from $16. He removed atopic dermatitis from his model following the company's announcement during its recent earnings call that a newer formulation of EDP1815 is being evaluated in psoriasis and AD has been discontinued due to lack of efficacy. He maintains his view of the value of EDP1815 in psoriasis, and sees Phase 2 data in mid-2021 as the next key catalyst, Harrison added. He also noted that COVID-19 and TNBC data could present upside, but he has "modest expectations" for those data sets.
Evelo Biosciences downgraded to Equal Weight from Overweight at Morgan Stanley » 05:2005/2105/21/20
Morgan Stanley analyst…
Morgan Stanley analyst Matthew Harrison downgraded Evelo Biosciences to Equal Weight from Overweight with an $8 price target.
Evelo Biosciences downgraded to Hold from Buy at Jefferies » 06:1105/1205/12/20
Jefferies analyst Chris…
Jefferies analyst Chris Howerton downgraded Evelo Biosciences to Hold from Buy with a price target of $6, down from $18. The company's pipeline updates were more negative than positive as 2020 catalysts are now confined to the Phase 2 COVID-19 data and Phase 1/2 triple negative breast cancer by the end of 2020, Howerton tells investors in a research note. The analyst cautions investors on the potential for near-term dilution.