EVMN Stock — Evommune Inc.: Cash, EV, Pipeline

Share price

$9.65

Market cap

$350.2M

Cash

$200.8M

Enterprise value

$149.4M

Balance sheet

Cash	$200.8M
Debt	$0.0M
Net cash	$200.8M
Enterprise value	$149.4M
Basic shares	36.3M shares
Fully diluted shares	44.4M shares
Fully diluted market cap	$428.9M
Cash per share	$5.53

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Nov 12 - Dec 24	EVO756, Dose 1	Phase 2	Migraine	2027

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

EVO756

Phase 2 · Active Modality: small molecule (oral)

Target MRGPRX2

Partnerships Dermira license (exclusive worldwide in-license); Maruho: exclusive license for Japan (September 2023) and Greater China/certain Asian countries (March 2024)

Indications

Atopic dermatitis (AD) (Phase 2)
Migraine prophylaxis (Phase 2)

Catalysts

— None
— None

Status note CSU development ceased in June 2026. Phase 2b in AD initiated August 2025; Phase 2b in migraine initiated July 2026.

EVO301

Phase 2 · Active Modality: fusion protein

Target IL-18

Partnerships AprilBio: exclusive worldwide license to develop and commercialize (June 2024)

Indications

Atopic dermatitis (AD) (Phase 2)
Ulcerative colitis (UC) (Stage not disclosed)

Catalysts

— None

Status note Phase 2a in AD (IV) completed February 2026; high-concentration subcutaneous formulation work completed, manufacturing initiated; planning underway for UC Phase 2.

Per-asset detail extracted from the 10-Q filed 2026-08-06. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	EVO756, Dose 1
Lead indication	Migraine
Lead phase	Phase 2
Active trials	2
Collaborator trials	1

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07616128	Phase 2	Recruiting	Sponsor	EVMN	—	Migraine	2027
NCT07150845	Phase 2	Active, not recruiting	Sponsor	EVMN	—	Atoptic Dermatitis	—
NCT06645821	Early Phase 1	Recruiting	Collaborator	Virginia Clinical Research, Inc.	—	Hidradenitis Suppurativa (HS)	—

Sponsor-matched active trials from ClinicalTrials.gov (2 as sponsor, 1 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 3 active trials for Evommune, Inc. on ClinicalTrials.gov

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
RTW Investments	1,502,235	no change	0.17%	2026-08-14
Baker Bros. Advisors	847,390	no change	0.06%	2026-08-14
OrbiMed Advisors	161,000	+161,000	0.04%	2026-08-14
ADAR1 Capital Management	104,035	-80,027	0.06%	2026-08-14
Sphera Biotech	22,632	-55,602	0.04%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

EVMN — Evommune Inc.