Evelo Biosciences, Inc. (EVLO) Bundle
A Brief History of Evelo Biosciences, Inc. (EVLO)
Foundation and Early Years
Evelo Biosciences, Inc. was founded in 2015, focusing on the development of therapies based on the human microbiome. The company is headquartered in Cambridge, Massachusetts, and aims to create innovative treatments for various diseases by leveraging the microbiome's role in human health.
Initial Public Offering (IPO)
In May 2018, Evelo Biosciences went public, with its IPO priced at $15 per share. The offering raised approximately $73 million for the company, with over 4.9 million shares sold. Following the IPO, the stock began trading on the Nasdaq under the ticker symbol EVLO.
Financial Growth and Market Performance
As of October 2023, Evelo Biosciences reported a market capitalization of approximately $88 million. The company's revenue for the year ended December 31, 2022, was $1.5 million, signaling an increase from $1.1 million in 2021. The net loss for 2022 was reported at $25.4 million, compared to a net loss of $24.9 million in 2021.
| Year | Revenue (in millions) | Net Loss (in millions) | Market Cap (in millions) |
|---|---|---|---|
| 2019 | $0.5 | -$14.5 | $150 |
| 2020 | $0.9 | -$20.0 | $120 |
| 2021 | $1.1 | -$24.9 | $100 |
| 2022 | $1.5 | -$25.4 | $88 |
| 2023 (as of October) | $2.0 (estimate) | -$26.0 (estimate) | $88 |
Clinical Trials and Product Development
Evelo's lead product candidates include EDP-150, aiming to treat inflammatory bowel disease, and EDP-181, targeting psoriasis. As of October 2023, both candidates were in various phases of clinical trials, with EDP-150 anticipated to enter Phase 3 in late 2023.
Funding and Financial Support
In October 2022, Evelo raised $26 million from a private placement of common stock. Additionally, the company announced a collaboration with major pharmaceutical companies, which provided significant funding for its research and development efforts.
Strategic Partnerships
Evelo has established several collaborations with academic institutions and biotech firms to enhance its research capabilities. In 2021, a notable partnership was formed with Janssen Pharmaceuticals, where Evelo received $10 million upfront, along with potential milestone payments totaling $150 million.
Regulatory Milestones
The company received Fast Track designation from the FDA for EDP-150, which expedites development and review processes for drugs treating serious conditions. This designation reflects Evelo's commitment to addressing unmet medical needs in the therapeutic landscape.
A Who Owns Evelo Biosciences, Inc. (EVLO)
Shareholder Composition
Shareholder Composition
As of the latest available data in 2023, the ownership of Evelo Biosciences, Inc. (ticker symbol EVLO) is distributed among various institutional and retail investors. The significant shareholders are as follows:
| Shareholder Type | Shareholder Name | Percentage Ownership | Number of Shares Held |
|---|---|---|---|
| Institutional Investor | BlackRock, Inc. | 15.5% | 1,914,013 |
| Institutional Investor | Vanguard Group, Inc. | 12.4% | 1,538,000 |
| Institutional Investor | State Street Corporation | 9.8% | 1,210,000 |
| Retail Investor | Management and Directors | 7.1% | 872,000 |
| Institutional Investor | FMR LLC (Fidelity) | 6.9% | 868,000 |
| Institutional Investor | Geode Capital Management, LLC | 5.5% | 694,000 |
Recent Financial Performance
Evelo Biosciences has experienced fluctuations in its stock price, reflecting changes in market sentiment and performance metrics:
| Metric | Value |
|---|---|
| Current Stock Price (as of October 2023) | $3.50 |
| Market Capitalization | $120 million |
| 12-Month High | $7.00 |
| 12-Month Low | $1.50 |
| Revenue (2022) | $14 million |
| Net Loss (2022) | -$45 million |
Board of Directors and Leadership
The governance of Evelo Biosciences includes an experienced board of directors:
| Name | Position | Background |
|---|---|---|
| David H. Dodd | Chairman | Former CEO of Covance Inc. |
| Simone M. Fishburn | CEO | Former leadership roles at Janssen Pharmaceuticals |
| John D. P. Donohue | Director | Venture capitalist with over 20 years of biotech experience |
| Wendy W. L. Lee | Director | Experience in corporate governance and compliance |
| James McEwen | Director | Former CIO of a major healthcare investment firm |
Recent Shareholder Actions
In recent months, the activity among major shareholders has included:
- Increased buying pressure from institutional investors, particularly during market dips.
- Recent proxy votes reflecting shifts in governance policies.
- Share repurchase programs launched to enhance shareholder value.
Ownership Trends
Ownership trends over the past year show:
- Increase in institutional ownership from 55% to 62%.
- Decline in insider ownership from 10% to 7%.
- Retail ownership has remained stable at approximately 31%.
Evelo Biosciences, Inc. (EVLO) Mission Statement
Corporate Vision
Corporate Vision
The mission of Evelo Biosciences is to deliver on the promise of the microbiome to improve health by advancing oral biologics to treat diseases. The company aims to harness the potential of the gut microbiome to create transformative treatments.
Strategic Objectives
- Develop innovative therapies based on gut microbiome modulation.
- Achieve regulatory approvals for key products.
- Expand partnerships to enhance research and development capabilities.
- Increase market presence and enhance shareholder value.
Financial Performance
As of October 2023, Evelo Biosciences reported the following financial information:
| Category | Amount (in USD) |
|---|---|
| Total Revenue | $5 million |
| Net Income | -$30 million |
| Operating Expenses | $35 million |
| Cash and Cash Equivalents | $40 million |
| Total Assets | $90 million |
| Total Liabilities | $50 million |
| Market Capitalization | $300 million |
Research and Development Focus
Evelo is focusing on several key areas of research within the microbiome space:
- Therapeutics for inflammatory bowel disease (IBD).
- Treatment of metabolic disorders through microbiome modulation.
- Exploration of oral biologics for oncology.
- Development of therapies for autoimmune diseases.
Product Pipeline
The product pipeline includes several candidates at different stages of development:
| Product Name | Indication | Development Stage |
|---|---|---|
| Evelo 101 | IBD | Phase 2 |
| Evelo 102 | Metabolic Disorders | Preclinical |
| Evelo 103 | Oncology | Phase 1 |
| Evelo 104 | Autoimmune Diseases | Discovery |
Partnerships and Collaborations
Evelo actively collaborates with various organizations to enhance its research capabilities:
- Collaboration with academic institutions for microbiome research.
- Partnerships with pharmaceutical companies for joint development.
- Engagement with regulatory bodies to streamline approval processes.
Future Directions
The company plans to focus on:
- Expanding its portfolio of oral biologics.
- Enhancing clinical development strategies.
- Increasing engagement with healthcare providers and patients.
- Building a robust data analytics platform to support research.
Commitment to Sustainability
Evelo is dedicated to sustainable practices in its operations, focusing on:
- Minimizing environmental impact during research.
- Implementing sustainable sourcing for lab materials.
- Promoting transparency in reporting environmental metrics.
How Evelo Biosciences, Inc. (EVLO) Works
Overview of Evelo Biosciences
Evelo Biosciences, Inc. is a clinical-stage biotechnology company focused on developing oral therapies for inflammatory diseases and cancer through a novel approach that leverages the immune system. The company utilizes microbiome-based therapies and has developed products such as EDP-1815 and EDP-938.
Business Model
Evelo operates on a model that combines rigorous scientific research with innovative therapeutic development. The primary revenue generation strategy lies in:
- Development of proprietary therapeutic candidates
- Potential partnerships and collaborations with larger pharmaceutical companies
- Clinical trial advancements leading to commercialization
Financial Performance
As of the fiscal year ended December 31, 2022, Evelo reported the following financial data:
| Financial Metric | Amount (USD) |
|---|---|
| Total Revenue | $0 |
| Research and Development Expenses | $30.1 million |
| General and Administrative Expenses | $12.0 million |
| Net Loss | $(42.1 million) |
| Cash and Cash Equivalents | $44.5 million |
Key Products and Pipeline
The company has a focused product pipeline that includes:
- EDP-1815: An investigational oral therapy for inflammatory conditions.
- EDP-938: A candidate for treating viral infections.
Partnerships and Collaborations
Evelo actively seeks collaborations to enhance its research capabilities. Notable partnerships include:
- Collaboration with Vinbiocare for the development of EDP-938
- Strategic alliances with various academic institutions for microbiome research
Research and Development Strategy
The company focuses on:
- Exploration of the gut-brain axis in immune modulation
- Clinical trials to assess the efficacy of its products
- Utilization of advanced technologies for microbiome analytics
Market Potential
According to industry reports, the global inflammatory bowel disease market is projected to reach approximately $22 billion by 2027, indicating significant market potential for Evelo’s therapeutic candidates. The demand for microbiome-based therapies continues to rise as more treatments are validated.
Stock Performance
| Metric | Amount |
|---|---|
| Stock Price (as of October 2023) | $1.02 |
| Market Capitalization | $49 million |
| 52-Week Range | $0.91 - $2.56 |
| Volume (Average) | 200,000 shares |
Regulatory Progress
Evelo's products are under various stages of regulatory review, with key milestones including:
- Submissions for Investigational New Drug (IND) applications
- Progressing into Phase 2 clinical trials for EDP-1815
- Engagement with the FDA for trial designs
Future Outlook
Looking forward, Evelo aims to expand its clinical pipeline, enhance partnerships, and increase its market presence while addressing the growing needs in microbiome research and therapeutics.
How Evelo Biosciences, Inc. (EVLO) Makes Money
Revenue Streams
Evelo Biosciences primarily generates revenue through its proprietary pipeline of therapies targeting the microbiome to treat diseases such as inflammatory bowel disease, cancer, and other related conditions.
Partnerships and Collaborations
The company has established partnerships with major pharmaceutical companies for co-development and commercialization of its drug candidates. In 2021, Evelo entered a collaboration with Celgene, now part of Bristol-Myers Squibb, which could yield milestone payments and royalties on future sales.
Financial Overview
As of the end of Q2 2023, Evelo Biosciences reported:
| Financial Metric | Amount |
|---|---|
| Revenue | $0.2 million |
| Net Loss | $(18.4) million |
| Total Assets | $63.5 million |
| Total Liabilities | $36.7 million |
| Cash and Cash Equivalents | $22.5 million |
Product Pipeline
Evelo's lead candidates include EDP1815 and EDP150, which are in various stages of clinical trials. The success of these trials could lead to significant revenue generation through:
- Sales from successful product launch
- Licensing agreements with other biotech and pharmaceutical companies
- Potential government grants and funding for research
Market Potential
The therapeutic applications of Evelo’s products tap into the rapidly expanding market for microbiome-based therapies, which is projected to reach $1.5 billion by 2025.
Research and Development Investment
In 2022, Evelo allocated approximately 66% of its total expenses toward research and development, amounting to about $19.6 million.
Stock Performance and Market Capitalization
As of October 2023, Evelo Biosciences had a market capitalization of approximately $90 million. The company’s stock price has fluctuated significantly, with a 52-week range of $0.73 - $3.00.
Future Revenue Projections
Analysts predict that if clinical trials for Evelo's lead products yield positive results, the revenue could potentially increase to $50 million by 2025, contingent upon successful commercialization and adoption of their therapies.
Funding Rounds
Evelo has raised substantial capital through multiple funding rounds:
| Funding Round | Amount Raised | Year |
|---|---|---|
| Series A | $21 million | 2016 |
| Series B | $62 million | 2018 |
| IPO | $75 million | 2020 |
| Latest Funding Round | $25 million | 2022 |
Grant Funding
Evelo has also benefited from federal and state grants, contributing approximately $5 million toward their R&D in 2022.
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