Evelo Biosciences, Inc. (EVLO)

MONTRÉAL--(BUSINESS WIRE)--EVLO Energy Storage Inc. (EVLO), a fully integrated battery energy storage systems (BESS) provider and wholly owned subsidiary of Hydro-Québec, announces a major achievement in its relationship with investor-owned utility Dominion Energy (Dominion) to develop a battery energy storage system (BESS) with enhanced fire and safety features that meet and exceed Dominion's unique safety specifications. The augmented version of EVLOFLEX now has achieved UL 9540 certification.

The most oversold stocks in the health care sector presents an opportunity to buy into undervalued companies.

Evelo's (EVLO) EDP2939 fails to achieve the primary endpoint in a mid-stage for treating moderate psoriasis. The company decides to cease clinical development on the candidate.

Evelo Biosciences' shares have tumbled 46% in premarket trading after the biotech firm revealed disappointing results in a phase II psoriasis trial for its next-generation drug, EDP2939. A resounding miss, the treatment failed to outperform the placebo, which has no therapeutic effect.

Evelo Biosciences Inc. EVLO, -6.73% said Tuesday it's reviewing its strategic options and exploring partnerships after a Phase 2 study of a treatment for psoriasis failed to meet its main goal. “The study's 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 (PASI) score (a PASI-50 response) between EDP2939 and placebo after 16 weeks of daily treatment, was not achieved,” the company said in a statement.

- Primary endpoint was not achieved – - Company exploring strategic alternatives and partnering opportunities for EDP1815 and its SINTAX platform - CAMBRIDGE, Mass., Oct. 17, 2023 (GLOBE NEWSWIRE) -- Evelo Biosciences, Inc. (Nasdaq:EVLO) (“Evelo” or the “Company”), a clinical stage biotechnology company developing a novel platform of orally delivered inflammation-resolving medicines acting on the small intestinal axis (SINTAX), today announced top-line results from its Phase 2 clinical study with EDP2939 in moderate psoriasis.

Following recent cash raise, EVLO has enough (barely) cash to the next catalyst, phase 2 readout in psoriasis. The event is binary and can make or break the company. Prior failure of EVLO's platform in atopic dermatitis is concerning. However, psoriasis is a different indication (different pathophysiology) and de-risked by positive results in a prior phase 2 study. Ongoing phase 2 trial in psoriasis is being conducted with a second generation candidate, EDP2939, which is expected to have better efficacy and now represents EVLO's sole clinical-stage candidate.

– EDP2939 Phase 2 trial in moderate psoriasis fully enrolled with topline data expected early Q4 2023 – Completed $25.5 Million Private Placement – Restructured and reduced secured debt with Horizon Technology Finance Corporation

Restructures and reduce s secured debt with Horizon Technology Finance Corporation Appoints two new members and decreases size of Board of Directors

CAMBRIDGE, Mass., July 10, 2023 (GLOBE NEWSWIRE) -- Evelo Biosciences, Inc. (Nasdaq:EVLO), a clinical stage biotechnology company developing a novel platform of orally delivered inflammation-resolving medicines acting on the small intestinal axis (SINTAX), today announced that it has entered into a securities purchase agreement with investors in a private placement to sell 11,025,334 shares of its common stock (the “Shares”) at a purchase price of $2.31 per share, which would result in gross proceeds of approximately $25.5 million. The offering is being led by Evelo's founder, Flagship Pioneering, with participation from other new and existing investors. Evelo intends to use the net proceeds from the private placement to fund the readout of its Phase 2a trial of EDP2939 in moderate psoriasis, to pay down approximately $5.0 million of its existing debt and for general corporate purposes.

Evelo Biosciences (NASDAQ: EVLO ) stock is rising higher on Tuesday after the clinical-stage biotechnology company reached a new standstill agreement with Horizon Technology Finance (NASDAQ: HRZN ) last week. This agreement builds on the prior one the two companies reached back in December 2022.

Evelo Biosciences, Inc. (EVLO) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

Use these technical indicators to profit with penny stocks The post Discover the Top Penny Stock Technical Indicators By Effectiveness appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

Evelo Biosciences (NASDAQ: EVLO ) stock is on the rise Thursday after the company said it's shifting focus toward extracellular vesicle (EV) development. With this news, Evelo Biosciences will put a greater focus on EDP2939, which is its first EV treatment.

Evelo Biosciences, Inc. (NASDAQ:EVLO ) Q4 2022 Earnings Conference Call March 16, 2023 8:30 AM ET Company Participants Shamira Shariffudin - Director Business Development Simba Gill - Chief Executive Officer Mark Bodmer - Chief Scientific Officer Marella Thorell - Chief Financial Officer Conference Call Participants Gary Nachman - BMO Capital Markets Gospel Enyindah-Asonye - Morgan Stanley Kristen Kluska - Cantor Fitzgerald Peyton Bohnsack - Cowen Operator Good morning and welcome to the Evelo Biosciences Conference Call to discuss its Fourth Quarter and Full Year 2022 Financial Results and Business Update. [Operator Instructions] Please be advised this call is being recorded at the company's request.

Tap four stocks with increasing P/E ratios to try out an out-of-the-box approach. These stocks include James River Group (JRVR), MakeMyTrip Limited (MMYT), Evelo Biosciences (EVLO) and The Kroger Co. (KR).