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      Evelo Biosciences Inc. (EVLO) Stock Prices Trend Lower Despite Positive Data from Phase 2 Study of EDP1815 - Stocks Telegraph

      By Shimrez Hyder

      Published on

      September 27, 2021

      12:51 PM UTC

      Evelo Biosciences Inc. (EVLO) Stock Prices Trend Lower Despite Positive Data from Phase 2 Study of EDP1815 - Stocks Telegraph

      Evelo Biosciences Inc. (EVLO) stock prices were down by 2.95% as of the market closing on September 24th 2021. This brought the price per share down to USD$7.25 at the end of the trading day. Subsequent premarket fluctuations have seen the stock dip by 0.83%, bringing it down to USD$7.14.

      Positive Topline Data

      September 27th, 2021 saw EVLO stock announce positive data from its Phase 2 study. The study was designed to evaluate EDP1815 versus placebo for the treatment of mild and moderate psoriasis. The study exhibited a statistically significant reduction in the Psoriasis Area and Severity Index (PASI) score. The score is measured by the proportion of patients achieving at least 50% improvement in PASI from baseline at the week 16 timepoint. EDP1815 is currently being developed as an investigational oral biologic for the treatment of a broad range of inflammatory diseases, including clinical programs in psoriasis, atopic dermatitis, and Covid-19.

      Scope of EVLO Stock’s EDP1815

      The clinical results represent a significant advancement for patients who live with inflammatory disease. Being the first of its kind, the Phase 2 study demonstrates the utility of harnessing small intestinal axis to make a clinical impact on patients. These patients are administered the oral product candidate that is backed by safety and tolerability data that is better than the placebo. On the basis of the positive data, EVLO stock intends to advance EDP1815 towards registration studies in psoriasis. The company is looking forward to discussing their next steps with health and regulatory authorities. The milestone brings the company closer to realizing its vision of transforming healthcare. This will be facilitated by developing broadly acting oral, safe, effective, and affordable medicines. As a result, affordable medicines will be provided to address the unmet needs of hundreds of millions of patients around the world who live with inflammatory disease.

      Measuring Success

      PASI scored from the Phase 2 study were assessed by both mean changes from baseline and responder rates. The primary endpoint was the mean percentage change in PASI between treatment and placebo, having been prespecified as a Bayesian analysis. The Bayesian approach provides an estimate of the probability that EDP1815 is superior to placebo.

      Future Outlook for EVLO Stock

      The company has reported a promising quarter, consolidated by the success of its Phase 2 study for EDP1815. EVLO stock is poised to push for the accelerated commercialization and proliferation of the treatment. Current and potential investors are hopeful that management will be able to leverage the resources at its disposal. This is hoped to facilitate significant and sustained increases in shareholder value.

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