Evelo Biosciences falls as co to discontinue eczema drug development

Evelo Biosciences

26/04/2023 12:54

** Shares of drug developer Evelo Biosciences Inc  EVLO.O 
drop ~19% to $0.12 premarket
    ** Co says, consistent with the first three groups, data
from fourth group of a mid-stage trial for its experimental drug
EDP1815 did not meet the main goal 
    ** Will cease further development of EDP1815 in atopic
dermatitis, or eczema, following wind-down of the study - EVLO 
    ** Co to focus resources on another platform including the
first product candidate from there; the candidate, EDP2939, is
currently in an early-to-mid-stage study in psoriasis
    ** As of last close, stock down ~91% YTD

 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com;))