Evommune's lead drug fails in chronic hives trial, shares tumble over 30%

Evommune reported its first major trial readout since going public last year, focusing on its lead candidate for chronic spontaneous urticaria, a condition where patients experience recurring hives without an obvious trigger.

The study did not meet its primary efficacy endpoints, indicating the drug failed to demonstrate a statistically significant benefit over placebo. The company said the data were disappointing and it will reassess its development plan.

Following the announcement, Evommune’s stock fell more than 30% in early trading on Monday. Analysts noted the setback could delay the company’s timeline and affect investor confidence.