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PALO ALTO - Biotech company Evommune, Inc. filed a registration statement with the Securities and Exchange Commission on October 17 for an initial public offering, according to a press release issued Thursday. The company joins a gradually recovering biotech IPO market that has seen increased activity in 2024 compared to previous years.
The clinical-stage biotechnology company, which develops therapies targeting chronic inflammatory diseases, plans to offer 9,375,000 shares of common stock at an expected price between $15.00 and $17.00 per share. The offering could raise between $140.6 million and $159.4 million. Investors looking to analyze biotech IPOs like Evommune can access comprehensive sector data and valuation tools through InvestingPro, which provides detailed financial metrics and expert insights for making informed investment decisions.
Evommune also intends to grant underwriters a 30-day option to purchase up to an additional 1,406,250 shares. The company has applied to list its common stock on the New York Stock Exchange under the symbol "EVMN."
The registration statement is expected to become automatically effective on November 5, 2025, with pricing of the offering anticipated on or after that date.
Morgan Stanley, Leerink Partners, Evercore ISI, and Cantor are serving as joint book-running managers for the proposed offering.
The company stated that the securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.
Evommune focuses on developing therapies that target key drivers of chronic inflammatory diseases, with the goal of improving patients’ daily lives and preventing long-term effects of uncontrolled inflammation.
This information is based on a press release statement from the company.
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