Chronic inflammatory disease biotechnology company Evommune (EVMN.US) plans to price its IPO at $15-17 per share, with a target fundraising amount of $150 million.

Focused on the research and development of therapies for chronic inflammatory diseases, the phase II clinical stage biotechnology company Evommune (EVMN.US) announced the terms of its initial public offering (IPO) last Friday. The company plans to raise $150 million by issuing 9.4 million shares of stock priced in the range of $15 to $17. Based on the mid-range IPO price of $16, Evommune's market value will reach $543 million. In terms of core drug candidates and clinical progress, Evommune's research pipeline focuses on two candidate drugs targeting chronic inflammatory diseases: EVO756: A core drug candidate, it is a potent and highly selective MRGPRX2 oral small molecule antagonist used to treat chronic spontaneous urticaria (CSU) and atopic dermatitis (AD). The drug has entered a phase 2b clinical trial, with results expected to be announced in the second half of 2026. EV0301: A long-acting fusion protein composed of IL-18 binding protein and anti-serum albumin Fab-related domains, used to treat atopic dermatitis (AD) and ulcerative colitis (UC). The company plans to initiate a phase II clinical trial for patients with moderate to severe ulcerative colitis (UC) in 2026. Due to the ongoing government shutdown in the United States, Evommune did not rely on the Securities and Exchange Commission (SEC) to declare its registration statement effective. According to Section 8(a) of the Securities Act, the company's registration statement will automatically become effective 20 days after submission. Founded in 2020, Evommune generated revenue of $3 million in the twelve months ending on June 30, 2025. The company plans to list on the New York Stock Exchange (NYSE) under the ticker symbol "EVMN". Morgan Stanley, Leerink Partners, Evercore ISI, and Cantor Fitzgerald are serving as joint bookrunners for this IPO. The company expects to determine the final offering price during the week of November 3, 2025.