EVLO - Evelo Biosciences spikes after 4Q 2021 earnings

Clinical-stage biotech, Evelo Biosciences (EVLO +17.7%), is trading higher Thursday after reporting its third consecutive quarterly earnings beat with its financials for 4Q 2021. Net loss for the quarter contracted ~1% YoY to $28.7 million as R&D expenses declined ~15% YoY to $18.9M. The cash and equivalents as of 2021 year-end stood at $68.1M, mostly unchanged from a year ago. Upcoming catalysts include topline data expected in 1H 2023 from 16-weeks of dosing in a Phase 2 trial for EDP1815 in atopic dermatitis (AD). Interim data from a Phase 1b trial for EDP1867 in AD are anticipated in early 2Q 2022, and in 3Q 2023, Evelo (NASDAQ:EVLO) plans to begin its clinical development for the first extracellular vesicle (EV). In addition, the mid-stage data from a group of patients with psoriasis are expected in 2H 2023. See how the company outlined its upcoming milestones at the start of the year.

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Evelo Biosciences spikes after 4Q 2021 earnings