NASDAQ$EVLO
Evelo Biosciences Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Reported third quarter financial results and business highlights.
Evelo Biosciences reported a net loss of $30.6 million for the third quarter of 2022, with cash and cash equivalents totaling $69.1 million as of September 30, 2022. The company is progressing with its clinical programs, including EDP1815 in atopic dermatitis and psoriasis, and EDP2939 in psoriasis, with multiple Phase 2 data readouts expected in 2023.
- On track for multiple Phase 2 readouts for EDP1815 in atopic dermatitis in 2023, with data from first three cohorts expected in early 1Q 2023 and fourth cohort in 2Q 2023.
- Phase 2 data for first extracellular vesicle product candidate EDP2939 in psoriasis anticipated in 2H 2023.
- Continuing to advance regulatory discussions for registration trials for EDP1815 in psoriasis.
- Cash and cash equivalents were $69.1 million as of September 30, 2022.
Headline financials
Revenue & EPS history
Evelo · Revenue · Quarterly
$0
Forward guidance
Evelo Biosciences is on track to deliver on three Phase 2 clinical milestones throughout 2023.
Tailwinds
- Data from the first three cohorts in the Phase 2 trial of EDP1815 in atopic dermatitis is expected early in the first quarter of 2023.
- Data from the fourth cohort in the Phase 2 trial of EDP1815 in atopic dermatitis is expected in the second quarter of 2023.
- Data from patients in the Phase 2 trial of EDP2939 in psoriasis is anticipated in the second half of 2023.
- EMA and MHRA acknowledged the appropriateness of the proposed registration clinical trial design for EDP1815 in psoriasis.
- The company has the technical and manufacturing operations in place that it believes will allow for registration trials and commercial launch.
Headwinds
- Received a request from the MHRA for additional information with respect to the Clinical Trial Application (CTA) submission for the EDP2939 Phase 1/2 trial.
- The lengthy, expensive, and uncertain process of clinical drug development, including potential delays in regulatory approval.
- Reliance on third parties and collaborators to expand microbial library, conduct clinical trials, manufacture product candidates, and develop and commercialize product candidates, if approved.
- Lack of experience in manufacturing, selling, marketing, and distributing product candidates.
- Potential lawsuits for, or claims of, infringement of third-party intellectual property or challenges to the ownership of intellectual property.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2022
+1.3%
Avg return
Earnings day
-1.4%
Avg return
5 days after
-9.7%
Avg return
30 days after
54%
13 / 24 earnings
Positive
+32.3%
Q2 2023
Best reaction
-20.3%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2023 | +0.0% | +0.0% | -9.8% | |
| Q3 2023 | -7.6% | +4.5% | +3.8% | |
| Q2 2023 | +32.3% | -30.5% | -41.0% | |
| Q1 2023 | +2.9% | +10.2% | -28.8% | |
| Q4 2022 | -17.8% | -27.0% | -46.9% | |
| Q3 2022 | +3.3% | -3.3% | -8.5% | |
| Q2 2022 | -7.1% | -10.5% | -25.4% | |
| Q1 2022 | -20.3% | -14.5% | -2.4% | |
| Q4 2021 | +29.4% | +13.5% | -26.3% | |
| Q3 2021 | +10.2% | +27.0% | +6.0% | |
| Q2 2021 | -0.9% | +5.0% | +20.7% | |
| Q1 2021 | +8.8% | -14.4% | +11.0% | |
| Q4 2020 | +14.5% | +21.2% | +1.6% | |
| Q3 2020 | -12.9% | -5.9% | +14.0% | |
| Q2 2020 | -1.6% | -0.5% | +15.2% | |
| Q1 2020 | -5.7% | -14.0% | -20.9% | |
| Q4 2019 | +1.8% | +12.2% | -28.4% | |
| Q3 2019 | -3.3% | -6.1% | -35.9% | |
| Q2 2019 | +3.9% | -2.2% | +7.0% | |
| Q1 2019 | +0.8% | -1.5% | -11.8% | |
| Q4 2018 | +1.3% | +3.0% | -6.9% | |
| Q3 2018 | +0.2% | +3.4% | +3.7% | |
| Q2 2018 | -3.4% | -5.9% | +2.6% | |
| Q1 2018 | +1.8% | +2.2% | -24.8% | |
| Q4 2017 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — |
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