Evelo Biosciences rises after CEO steps down

Evelo Biosciences

11/08/2022 17:42

** Shares of drug developer Evelo Biosciences  EVLO.O  rise
5.7% to $3.12
    ** Co CEO and President Simba Gill is transitioning to the
role of chair of board of directors and returning to venture
capital company Flagship Pioneering  urn:newsml:reuters.com:*:nGNXc6QBRZ
    ** Gill will continue to serve in his current role until his
successor joins Evelo; co's board will initiate a search for a
successor
    ** Evelo is developing EDP1815, currently in late-stage
development for psoriasis and atopic dermatitis
    ** As of June 30, co's cash and cash equivalents were
$92.0 mln
    ** Stock down about 49% YTD

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com;))