Evelo Biosciences: EDP2939-101 Study Fails To Meet Endpoint; To Explore Strategic Alternatives

(RTTNews) - Evelo Biosciences, Inc. (EVLO) announced top-line results from Phase 2 clinical study with EDP2939 in moderate psoriasis. The primary endpoint, the difference in the proportion of patients who achieved an outcome of a 50% improvement from baseline in Psoriasis Area and Severity Index score between EDP2939 and placebo after 16 weeks of daily treatment, was not achieved.

The company said it will cease development of EDP2939, and is conducting a review of potential strategic alternatives, including seeking to partner EDP1815 and the SINTAX platform.

Shares of Evelo Biosciences are down 40% in pre-market trade on Tuesday.

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