EVMN Stock Tanks as Phase IIb Urticaria Study Misses Primary Goal

Shares of Evommune EVMN were down 40.2% yesterday after the company announced that the phase IIb study evaluating its oral MRGPRX2 antagonist, EVO756, for treating adult patients with moderate-to-severe chronic spontaneous urticaria (CSU) failed to meet the primary endpoint.The double-blind, placeb…

Shares of Evommune EVMN were down 40.2% yesterday after the company announced that the phase IIb study evaluating its oral MRGPRX2 antagonist, EVO756, for treating adult patients with moderate-to-severe chronic spontaneous urticaria (CSU) failed to meet the primary endpoint.

The double-blind, placebo-controlled, dose-ranging phase IIb study evaluated the safety and efficacy of EVO756 in adults with moderate-to-severe CSU. The study failed to meet its primary endpoint of a mean change from baseline in the Urticaria Activity Score over seven days (UAS7) at week 12 across all dose groups.

According to management, the lack of efficacy observed at week 12 does not support the further development of EVO756 for CSU.

EVO756 had previously demonstrated positive phase II data in patients with chronic inducible urticaria.

EVMN Price Performance

Year to date, shares of Evommune have plunged 12.1% against the industry’s growth of 7.1%.

EVMN’s Other Development Activities With EVO756

Besides CSU, EVO756 is also being developed for treating other indications.

Enrollment has been completed in a phase IIb study evaluating EVO756 for treating moderate-to-severe atopic dermatitis, also known as eczema. Top-line data from the same is expected to be announced in the third quarter of 2026.

The company also recently initiated patient screening in a phase IIb study evaluating EVO756 in migraine prophylaxis. It expects to begin patient dosing soon in this study. Top-line data from the same are anticipated in 2027.

EVO756 is a first-in-class, highly selective oral small molecule antagonist of MRGPRX2, a receptor linked to inflammation. Evommune is studying the candidate for conditions such as atopic dermatitis and migraine, and may expand its use to other diseases in the future.

Besides EVO756, the company is developing EVO301, an IL-18BP fusion protein, in a mid-stage study for treating atopic dermatitis.

Evommune is also assessing EVO301 as a potential treatment for ulcerative colitis, certain inflammation-related cardiovascular conditions and food allergies, with phase II studies being considered.

In the absence of a marketed product, the successful development of its pipeline candidates remains a key focus for the company.

EVMN Zacks Rank & Stocks to Consider

Evommune currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the biotech sector are Kiniksa Pharmaceuticals KNSA, Immunocore IMCR and Liquidia Corporation LQDA, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Over the past 60 days, estimates for Kiniksa Pharmaceuticals’ 2026 EPS have increased from $1.22 to $1.25. Over the same period, EPS estimates for 2027 have risen from $1.62 to $1.76. KNSA shares have surged 51.3% year to date.

Kiniksa Pharmaceuticals’ earnings beat estimates in two of the trailing four quarters and missed in the remaining two quarters, with the average surprise being 1.53%.

Over the past 60 days, estimates for Immunocore’s 2026 bottom line have improved from a loss of 97 cents per share to earnings of 6 cents. Over the same time, EPS estimates for 2027 bottom line have improved from a loss of 39 cents per share to earnings of 87 cents. IMCR stock has lost 12.3% year to date.

Immunocore’s earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 46.66%.

Over the past 60 days, estimates for Liquidia’s 2026 earnings per share have risen from $1.75 to $3.02, while estimates for 2027 have increased from $2.91 to $4.92 during the same time. LQDA shares have surged 117.8% year to date.

Liquidia’s earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 54.40%.

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