Summary of Evommune's EVO301 Topline Phase 2A Results Conference Call Company Overview - **Company**: Evommune - **Product**: EVO301, a biologic targeting IL-18 for the treatment of moderate to severe atopic dermatitis - **Industry**: Biopharmaceuticals, specifically focused on chronic inflammatory diseases Key Points and Arguments Positive Clinical Results - EVO301 demonstrated unequivocally positive data in the Phase 2A proof-of-concept trial for atopic dermatitis, meeting its primary endpoint decisively [3][10] - The trial showed a Bayesian posterior probability of 99.76% that the true difference between EVO301 and placebo in the percent change from baseline at EASI was at least 8% [10] - At week 12, patients receiving EVO301 experienced a 55% mean reduction in EASI compared to 22% in the placebo group [17] - 23% of patients achieved an IGA of 0 or 1 versus 0% in the placebo group [19] Safety Profile - EVO301 was well-tolerated with no serious or severe adverse events related to the study drug [10][23] - No discontinuations due to treatment-related adverse events were reported [23] Mechanism of Action - EVO301 is designed as a long-acting fusion protein that neutralizes IL-18, which plays a key role in various immune processes and chronic inflammatory diseases [8][9] - The drug targets multiple inflammatory pathways, making it potentially more effective for heterogeneous diseases like atopic dermatitis [9][22] Future Development Plans - Evommune plans to advance EVO301 into a Phase 2B study with a subcutaneous formulation, leveraging insights from the Phase 2A study [25][26] - The Phase 2B study will likely include more doses and a longer duration to optimize efficacy [31][32] Market Context - Atopic dermatitis affects approximately 13 million Americans, with around 40% of patients not adequately controlled by existing therapies [24] - There is a significant unmet need for effective treatments, highlighting the potential market opportunity for EVO301 [24] Pipeline Expansion - Evommune is also evaluating additional indications for IL-18, including ulcerative colitis and other chronic inflammatory diseases [26][78] - The company believes that the mechanism of IL-18 modulation could lead to a broader pipeline of therapies [78] Additional Important Information - The trial was randomized, double-blind, and placebo-controlled, enrolling 70 patients across 12 sites in Australia and New Zealand [12][15] - The study design optimized for early clinical signal detection using Bayesian analysis [12] - The results from the Phase 2A trial will be presented at a future scientific conference [22] This summary encapsulates the critical findings and strategic direction of Evommune regarding EVO301, emphasizing its potential impact on the treatment landscape for atopic dermatitis and other inflammatory diseases.

Company Overview - Evommune is developing next-generation therapies for chronic inflammation, which contributes to 3 out of 5 deaths worldwide[8] - The annual direct cost of chronic inflammation is at least $90 billion[9] - Evommune completed a $173 million IPO in November 2025 and has approximately $235 million in cash and investments as of September 30, 2025[115, 116] Clinical Programs - Evommune has two Phase 2 programs: EVO756 (oral MRGPRX2 antagonist) and EVO301 (long-acting IL-18 fusion protein)[15, 117] - EVO756 is being developed for chronic spontaneous urticaria (CSU) and atopic dermatitis (AD)[20, 117] - EVO301 is being developed for atopic dermatitis and ulcerative colitis[20, 117] - Three Phase 2 data readouts are expected in 2026: EVO756 in CSU (H1 2026), EVO756 in AD (H2 2026), and EVO301 in AD (H1 2026)[20, 117] EVO756 Clinical Data - In a Phase 2 trial in chronic inducible urticaria (CIndU), both 300 mg QD and 50 mg BID doses of EVO756 demonstrated robust clinical activity, with 30% of patients achieving a complete response after just 4 weeks[47, 49] - In the CIndU trial, at week 4, patients on 300 mg QD (N=10) saw a 14 point reduction and 50 mg BID patients (N=17) saw a 15 point reduction in Mean FricTest Score (0-4)[52] EVO756 Phase 2b Trials - A Phase 2b dose-ranging trial in CSU (N = 160) is underway, with topline data expected in H1 2026[72] - A Phase 2b dose-ranging trial in AD (N = 120) is underway, with topline data expected in H2 2026[80]

Core Insights - Eight new stocks were listed last week, including one direct listing company, raising significant capital across various sectors [1][2][3]. Group 1: Recent IPOs - MapLight Therapeutics (MPLT) raised $251 million by issuing 14.75 million shares at $17 each [1]. - Navan (NAVN) raised $923 million by issuing 36.92 million shares at $25 each [1]. - Boyd Group Services (BGSI) raised $780 million by issuing 5.5 million shares at $141 each [2]. - Nomadar (NOMA) entered Nasdaq through a direct listing [3]. Group 2: Upcoming IPOs - BETA Technologies, Inc. plans to list on NYSE with a target date of November 4, 2025, aiming to raise approximately $825 million by issuing 25 million shares at $27 to $33 each. The company reported revenue of $15.57 million in the first half of 2025, up from $7.59 million in the same period last year, with a net loss of $159 million [4][6]. - Exzeo Group, Inc. plans to list on NYSE on November 5, 2025, aiming to raise about $176 million by issuing 8 million shares at $20 to $22 each. The company reported revenue of $109 million in the first half of 2025, up from $60.31 million year-over-year, with a net profit of $39.61 million [6][8]. - Evommune, Inc. plans to list on NYSE on November 6, 2025, aiming to raise approximately $159 million by issuing 9.38 million shares at $15 to $17 each. The company reported revenue of $3 million in the first half of 2025, down from $7 million year-over-year, with a net loss of $28.12 million [10]. - Grupo Aeroméxico, S.A.B. de C.V. plans to list on NYSE on November 6, 2025, aiming to raise about $235 million by issuing 11.73 million shares at $18 to $20 each. The company reported revenue of $2.498 billion in the first half of 2025, down from $2.695 billion year-over-year, with a net profit of $89.97 million [12]. - BillionToOne, Inc. plans to list on NASDAQ on November 6, 2025, aiming to raise approximately $212 million by issuing 3.85 million shares at $49 to $55 each. The company reported revenue of $126 million in the first half of 2025, up from $69.09 million year-over-year, with a net loss of $4.23 million [14]. - Off The Hook YS Inc. plans to list on NYSE MKT on November 7, 2025, aiming to raise about $30 million by issuing 5 million shares at $4 to $6 each. The company reported revenue of $58.59 million in the first half of 2025, up from $51.85 million year-over-year, with a net profit of $840,000 [16].

Core Points - Evommune, Inc. has filed a registration statement for an initial public offering (IPO) of its common stock, offering 9,375,000 shares at an expected price between $15.00 and $17.00 per share [1] - The company plans to grant underwriters a 30-day option to purchase an additional 1,406,250 shares in connection with the IPO [1] - Evommune's common stock is expected to be listed on the New York Stock Exchange under the symbol "EVMN" [1] - The registration statement is anticipated to become effective on November 5, 2025, allowing the company to price the offering shortly thereafter [1] - Morgan Stanley, Leerink Partners, Evercore ISI, and Cantor are acting as joint book-running managers for the proposed offering [2] Company Overview - Evommune, Inc. is a clinical-stage biotechnology company focused on developing innovative therapies targeting chronic inflammatory diseases [5] - The company's mission is to enhance patients' daily lives and mitigate long-term effects of uncontrolled inflammation caused by existing therapy limitations [5] - Evommune is advancing a portfolio of differentiated product candidates aimed at addressing key drivers of chronic inflammation [5]

Group 1 - Evommune, a biotech company focused on therapies for chronic inflammatory diseases, announced its IPO terms, aiming to raise $150 million by offering 9.4 million shares at a price range of $15 to $17 [1] - The company's lead candidate, EVO756, is a potent and selective MRGPRX2 oral small molecule antagonist for chronic spontaneous urticaria (CSU) and atopic dermatitis (AD), currently in a Phase 2b trial with results expected in the second half of 2026 [1] - Evommune's second candidate, EV0301, is a long-acting fusion protein for treating atopic dermatitis (AD) and ulcerative colitis (UC), with plans to initiate a Phase 2 trial for moderate to severe UC patients in 2026 [1] Group 2 - Founded in 2020, Evommune reported revenue of $3 million for the 12 months ending June 30, 2025, and plans to list on the New York Stock Exchange under the ticker "EVMN" [2] - The company has appointed Morgan Stanley, Leerink Partners, Evercore ISI, and Cantor Fitzgerald as joint book-running managers for the IPO, with the final pricing expected during the week of November 3, 2025 [2]

Table of Contents Amendment No.1 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 EVOMMUNE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 2834 85-0742575 (Primary Standard Industrial Classification Code Number) 1841 Page Mill Road, Suite 100 Palo Alto, CA 94304 Telephone: (925) 247-4487 As filed with the U.S. Securities and Exchange Commission on October 17, 2025. Registration No. 333-290793 UNITED STATE ...

Core Viewpoint - Evommune, a biotechnology company focused on developing therapies for chronic inflammatory diseases, has filed for an IPO to raise up to $100 million [1][2] Company Overview - Evommune is headquartered in Palo Alto, California, and was founded in 2020 [2] - The company reported revenue of $3 million for the 12 months ending June 30, 2025 [2] - The company plans to list on the New York Stock Exchange under the ticker symbol EVMN [2] Product Pipeline - The core candidate drug, EVO756, is a potent and selective oral small molecule MRGPRX2 antagonist aimed at treating chronic spontaneous urticaria (CSU) and atopic dermatitis (AD) [1] - Another investigational drug, EV0301, is a long-acting fusion protein designed for the treatment of atopic dermatitis (AD) and ulcerative colitis (UC) [1] - Evommune has initiated a Phase 2b clinical trial for EVO756, with results expected in the second half of 2026 [1] - The company plans to start a Phase 2 clinical trial for moderate to severe ulcerative colitis (UC) patients in 2026 [1] IPO Details - The IPO application was submitted to the SEC on Thursday, with plans to raise up to $100 million [1] - The joint book-running managers for the offering include Morgan Stanley, Leerink Partners, Evercore ISI, and Cantor Fitzgerald [2] - The pricing terms for the offering have not yet been disclosed [2]

Table of Contents THE SECURITIES ACT OF 1933 EVOMMUNE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 2834 85-0742575 (Primary Standard Industrial Classification Code Number) 1841 Page Mill Road, Suite 100 Palo Alto, CA 94304 As filed with the U.S. Securities and Exchange Commission on October 9, 2025. Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEME ...