Evommune Announces Commencement of Initial Public Offering

Rhea-AI Summary

Evommune (NYSE:EVMN) announced the commencement of a proposed initial public offering on October 17, 2025 with a registration statement filed on Form S-1.

The company is offering 9,375,000 shares of common stock with an expected price range of $15.00 to $17.00 per share, and intends to grant underwriters a 30-day option for up to 1,406,250 additional shares. Evommune has applied to list its shares on the New York Stock Exchange under the symbol EVMN, and expects the registration statement to become automatically effective on November 5, 2025 pursuant to Section 8(a) of the Securities Act, subject to SEC and federal government operations.

Positive

• Planned offering of 9,375,000 shares
• Expected IPO price range of $15.00–$17.00 per share
• 30-day overallotment option for 1,406,250 additional shares
• Applied to list on NYSE under EVMN

Negative

• Registration not yet effective; securities cannot be sold until effectiveness
• Timing contingent on federal government and SEC operations affecting the Nov 5, 2025 effective date

Insights

Capital Markets Analyst

Evommune has filed for an IPO to raise capital via a listed offering of common stock, with pricing expected after November 5, 2025.

Evommune plans to offer 9,375,000 shares at an indicated range of $15.00 to $17.00 per share and grant underwriters a 30-day option for up to 1,406,250 additional shares. The company has applied to list on the New York Stock Exchange under the symbol EVMN, and four banks are acting as joint book-runners. The filing and the bona fide price range signal a near-term move to market and a concrete capital-raising plan.

The business mechanism is straightforward: a public equity sale to fund development of clinical-stage programs. The near-term dependencies are the registration statement becoming effective (expected November 5, 2025) and the completion of pricing thereafter; if regulatory timing shifts, management will re-evaluate procedural choices. Key risk factors tied to this announcement are execution risk in the offering process and market receptivity to a clinical-stage biotech IPO at pricing within the stated range.

Watch the final prospectus and the actual pricing on or after November 5, 2025, the exercised size of the 30-day greenshoe option, and net proceeds disclosed in the final filing to understand funding runway implications and dilution. These items will clarify the immediate capital impact and allow assessment of how proceeds may support upcoming clinical milestones over the next 12–24 months.

PALO ALTO, Calif., Oct. 30, 2025 /PRNewswire/ -- Evommune, Inc. ("Evommune"), a clinical-stage biotechnology company developing innovative therapies that target key drivers of chronic inflammatory diseases, today announced that on October 17, 2025, it filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the "SEC") in connection with the commencement of a proposed initial public offering of its common stock. Evommune is offering 9,375,000 shares of its common stock at an expected initial public offering price between $15.00 and $17.00 per share. In addition, Evommune intends to grant the underwriters a 30-day option to purchase up to an additional 1,406,250 shares of common stock in connection with the proposed public offering. Evommune has applied to list its common stock for trading on the New York Stock Exchange under the symbol "EVMN."

Evommune has included in the registration statement a bona fide range of the proposed public offering price and the number of shares offered and specific language under Rule 473(b) promulgated under the Securities Act of 1933, as amended (the "Securities Act"), such that the registration statement is expected to become automatically effective on November 5, 2025 pursuant to Section 8(a) of the Securities Act. Evommune expects to complete the pricing of the proposed public offering on or after such date. In the event that the federal government and the SEC resume normal operations prior to November 5, 2025, Evommune will re-evaluate the use of Section 8(a) in connection with the proposed public offering.

Morgan Stanley, Leerink Partners, Evercore ISI, and Cantor are acting as joint book-running managers for the proposed offering.

A registration statement relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any offer or sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the proposed offering may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at prospectus@morganstanley.com; Leerink Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at (800) 808-7525, ext. 6105, or by email at syndicate@leerink.com; Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, by telephone at (888) 474-0200, or by email at ecm.prospectus@evercore.com; or Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6th Floor, New York, NY 10022, or by email at prospectus@cantor.com.

About Evommune, Inc.

Evommune, Inc. is a clinical-stage biotechnology company developing innovative therapies that target key drivers of chronic inflammatory diseases. The company's mission is to improve patients' daily lives and prevent the long-term effects of uncontrolled inflammation that are a consequence of the limitations of existing therapies. To achieve this, Evommune is advancing a portfolio of differentiated product candidates that target key drivers of chronic inflammation.

View original content:https://www.prnewswire.com/news-releases/evommune-announces-commencement-of-initial-public-offering-302599416.html

SOURCE Evommune, Inc

FAQ

What is Evommune's IPO size and expected price range (EVMN)?

Evommune is offering 9,375,000 shares with an expected price range of $15.00 to $17.00 per share.

Will underwriters have an overallotment option in the Evommune (EVMN) IPO?

Yes; Evommune intends to grant underwriters a 30-day option to purchase up to 1,406,250 additional shares.

When does Evommune expect the EVMN registration statement to become effective?

Evommune expects the registration statement to become automatically effective on November 5, 2025 pursuant to Section 8(a), subject to SEC operations.

On which exchange will Evommune (EVMN) list its common stock?

Evommune has applied to list its common stock on the New York Stock Exchange under the symbol EVMN.

Who are the joint book‑running managers for the Evommune (EVMN) IPO?

Morgan Stanley, Leerink Partners, Evercore ISI, and Cantor are acting as joint book‑running managers.

Can investors buy Evommune (EVMN) shares before the registration statement is effective?

No; the securities may not be sold and offers to buy may not be accepted prior to the registration statement becoming effective.