EVMNEvommune, Inc.
Evommune, Inc. (EVMN) develops therapies for chronic inflammatory diseases, with a focus on MRGPRX2 inhibition for migraine and EVO756 for chronic urticaria. The next catalyst is Oct 20, 2026 — Regulatory Milestone: EVO301 Phase 2a Data Release, which will test the clinical progress of its lead asset in a new indication.
- Revenue grew 85.7% YoY to $10.00M in the second quarter of 2026, but net income remained deeply negative at -$79.96M.
- Free cash flow has been a drag, with TTM cash flow of -$185.65M, and the company is heavily leveraged with $205.57M in shareholders’ equity.
- The stock has struggled to find traction despite strong revenue growth, with recent declines tied to trial failures and debt concerns.
The Read
EVMN's stock remained flat after Q4 2025 earnings met estimates but then declined due to concerns over heavy debt and low cash, and later fell about 6% when EVO756 Phase 2 data failed to show convincing efficacy and safety.
The schedule
- Tue20Oct
The release of Phase 2a data for EVO301 will test the market's confidence in the drug's efficacy and safety profile. This event is critical for assessing the company's ability to meet regulatory expectations and secure further investment.
- Thu22Oct
A potential strategic partnership or licensing deal could provide a short-term boost to the stock, reflecting the market's optimism about the company's pipeline and future revenue streams.
- Mon16Nov
The Q3 earnings release will provide insight into the company's financial performance, including revenue, expenses, and guidance for the upcoming quarters. This event is crucial for assessing the company's ability to meet financial targets and manage cash flow.
- Tue12Jan
Binary Phase 2 readout for EVO756 in chronic urticaria, where convincing efficacy and safety could re-rate Evommune from a post-dilution base near $18 toward $40.00, while a miss could compress the stock toward $40.00.
- Fri15Jan
The release of Phase 2 data for EVO101 will test the market's confidence in the drug's potential and the company's ability to meet regulatory milestones. This event is critical for assessing the company's future prospects.
- Sun14Feb
The Q4 earnings release and FY 2027 guidance will provide insight into the company's financial performance and future outlook. This event is crucial for assessing the company's ability to meet financial targets and manage cash flow.
- Sun16May
The Q1 earnings release will provide insight into the company's financial performance, including revenue, expenses, and guidance for the upcoming quarters. This event is crucial for assessing the company's ability to meet financial targets and manage cash flow.
- Fri13Aug
The Q2 earnings release will provide insight into the company's financial performance, including revenue, expenses, and guidance for the upcoming quarters. This event is crucial for assessing the company's ability to meet financial targets and manage cash flow.
- Fri1Oct
The initiation of the Phase 2b dose-ranging study for EVO301 will test the market's confidence in the drug's potential and the company's ability to meet regulatory milestones. This event is critical for assessing the company's future prospects.
Past
- Fri14Aug
Actual outcome: Mixed · $14.25 at outcome
EVMN reported a Q2 2026 earnings miss and warned of elevated cash burn following the EVO756 trial failure, which weighed on investor sentiment. The stock fell 2.5% from the event date to the outcome date, reflecting disappointment with the results and concerns about the company's financial health and future prospects.
Scheduled Q2 2026 earnings focusing on cash burn following the recent EVO756 trial failure. With shares heavily oversold (RSI 31.9) near 52-week lows, an inline report could spark a relief rally toward $15.50, while elevated expenses risk a breakdown to $11.00.
- Tue12May
Actual outcome: Bear · $19.91 at outcome
The stock fell 12.1% from the event date to the outcome date, missing the bull target and falling below the bear floor. The company reported positive first-quarter results, with development of its chronic inflammatory disease treatments on schedule, but the market reacted negatively to the anticipated secondary equity offering, which raised concerns about dilution and impact on shareholder value.
Expected follow-on equity raise around $27.13 to extend cash runway beyond current Phase 2 programs, with the market weighing dilution against balance sheet de-risking.
- Fri27Mar
Actual outcome: Mixed · $22.18 at outcome
EVMN reported Q4 2025 EPS of -$0.90, exactly in line with analyst estimates, resulting in a flat immediate price reaction. While the initial response was muted, lingering concerns over the company's $257 million debt load and dwindling $26 million cash position ultimately weighed on the stock, dragging shares below the bear floor in the subsequent months.
Release of fiscal year results with a focus on 'Forward Guidance' regarding the $257M debt load and dwindling $26M cash position.
