Articles from Evelo Biosciences, Inc.

- Primary endpoint was not achieved –

– EDP2939 Phase 2 trial in moderate psoriasis fully enrolled with topline data expected early Q4 2023– Completed $25.5 Million Private Placement– Restructured and reduced secured debt with Horizon Technology Finance Corporation

Restructures and reduces secured debt with Horizon Technology Finance Corporation Appoints two new members and decreases size of Board of Directors

CAMBRIDGE, Mass., July 10, 2023 (GLOBE NEWSWIRE) -- Evelo Biosciences, Inc. (Nasdaq:EVLO), a clinical stage biotechnology company developing a novel platform of orally delivered inflammation-resolving medicines acting on the small intestinal axis (SINTAX), today announced that it has entered into a securities purchase agreement with investors in a private placement to sell 11,025,334 shares of its common stock (the “Shares”) at a purchase price of $2.31 per share, which would result in gross proceeds of approximately $25.5 million. The offering is being led by Evelo’s founder, Flagship Pioneering, with participation from other new and existing investors. Evelo intends to use the net proceeds from the private placement to fund the readout of its Phase 2a trial of EDP2939 in moderate psoriasis, to pay down approximately $5.0 million of its existing debt and for general corporate purposes.

– EVLO common stock expected to begin trading on a split-adjusted basis on June 30, 2023 –

– Topline Data from fourth cohort of EDP1815 Phase 2 trial in atopic dermatitis did not meet primary endpoint –– Company will focus on development of extracellular vesicles (EVs) –– First EV candidate, EDP2939, in Phase 2 moderate psoriasis study fully enrolled; data anticipated in early Q4 2023 –– Management to host conference call today at 8:30 a.m. ET –

CAMBRIDGE, Mass., March 16, 2023 (GLOBE NEWSWIRE) -- Evelo Biosciences, Inc. (Nasdaq: EVLO), (“Evelo” or the “Company”) a clinical stage biotechnology company developing a novel platform of orally delivered inflammation-resolving medicines acting on the small intestinal axis, SINTAX, today reported financial results and business highlights for the fourth quarter and full year 2022.

CAMBRIDGE, Mass., March 09, 2023 (GLOBE NEWSWIRE) -- Evelo Biosciences, Inc. (Nasdaq: EVLO), a clinical stage biotechnology company developing a novel platform of orally delivered inflammation-resolving medicines acting on the small intestinal axis, SINTAX, today announced that it will host a conference call and live webcast at 8:30 a.m. ET on Thursday, March 16, 2023 to report its fourth quarter and full year 2022 financial results and business highlights.

CAMBRIDGE, Mass., March 01, 2023 (GLOBE NEWSWIRE) -- Evelo Biosciences, Inc. (Nasdaq:EVLO), a clinical stage biotechnology company developing a novel platform of orally delivered anti-inflammatory medicines acting on the small intestinal axis, SINTAX, today announced that Mark Plinio, J.D., Chief Commercial Officer will participate in a dermatology panel at the Cowen 43rd Annual Health Care Conference on Tuesday, March 7, 2023 at 12:50 p.m. ET.

– Completed first blinded, placebo-controlled cohort in human volunteers with no safety or tolerability concerns –

– Data from first three cohorts of EDP1815 Phase 2 trial in atopic dermatitis did not meet primary endpoint; unusually high placebo response rate observed –– Clear path to registration trials for EDP1815 in psoriasis based on recently completed interactions with FDA, EMA and MHRA –– Dosing commenced in clinical study with first extracellular vesicle (EV) product candidate EDP2939 in January; Phase 2 data in psoriasis anticipated in 2H 2023 –– Optimizing operations and reducing workforce to focus resources on strategic priorities –– CEO Simba Gill, Ph.D., will continue to lead the organization, halting search for successor –– Management to host conference call today at 8:30 a.m. ET –

CAMBRIDGE, Mass., Dec. 16, 2022 (GLOBE NEWSWIRE) -- Evelo Biosciences, Inc. (Nasdaq:EVLO), a clinical stage biotechnology company developing a novel platform of orally delivered medicines acting on the small intestinal axis, SINTAX, today announced it has entered into a senior secured loan agreement with Horizon Technology Finance Corporation (Horizon) (Nasdaq: HRZN), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services and sustainability industries. The $45 million term loan, which provides for three years of interest-only payments followed by a two-year amortization period, replaces the Company’s existing senior secured debt which would have begun amortizing in March 2023.

CAMBRIDGE, Mass., Nov. 15, 2022 (GLOBE NEWSWIRE) -- Evelo Biosciences, Inc. (Nasdaq:EVLO), a clinical stage biotechnology company developing SINTAX medicines, today announced the publication of a peer-reviewed article explaining the scientific basis of the Small Intestinal Axis1 and that it will hold a Science Symposium on Wednesday, November 30th, including discussion of how this science enables the broad inflammation resolving potential of SINTAX medicines.

- Multiple Phase 2 readouts for EDP1815 in atopic dermatitis expected in 2023; data from first three cohorts expected in early 1Q 2023 and fourth cohort in 2Q 2023 -

CAMBRIDGE, Mass., Nov. 08, 2022 (GLOBE NEWSWIRE) -- Evelo Biosciences, Inc. (Nasdaq: EVLO), a clinical stage biotechnology company developing a novel platform of orally delivered medicines acting on the small intestinal axis, SINTAX, today announced that Simba Gill, Ph.D., Chief Executive Officer of Evelo, will participate in a fireside chat at the Jefferies London Healthcare Conference on Tuesday, November 15, 2022, at 7:25 a.m. GMT.