Evommune Announces Pricing of its Initial Public Offering

Rhea-AI Summary

Evommune (NYSE:EVMN) priced its initial public offering of 9,375,000 common shares at $16.00 per share, with gross proceeds expected to be $150 million before underwriting discounts, commissions, and expenses. Underwriters have a 30-day option to purchase up to an additional 1,406,250 shares.

The shares are expected to begin trading on the New York Stock Exchange on November 6, 2025 under ticker EVMN, and the offering is expected to close on November 7, 2025, subject to customary closing conditions.

Positive

• Gross proceeds expected of $150 million
• Initial offering of 9,375,000 shares at $16.00 each
• Listing on NYSE under ticker EVMN to begin Nov 6, 2025
• Underwriters' overallotment option of 1,406,250 shares

Negative

• Gross proceeds are before underwriting discounts, commissions, and offering expenses
• Offering may dilute existing equity holders due to new shares issued
• Closing is subject to customary conditions and expected on Nov 7, 2025

Insights

Capital markets analyst

Evommune priced a $16.00 IPO, targeting roughly $150 million of gross proceeds to list on the NYSE as EVMN.

The company is raising capital via the sale of 9,375,000 shares at $16.00 per share with a 30-day underwriter option for 1,406,250 additional shares. This structure provides immediate liquidity and a clear financing runway; the participation of Morgan Stanley, Leerink Partners, Evercore ISI, and Cantor signals institutional distribution capacity.

Key dependencies and risks include successful completion of the close expected on November 7, 2025 and market reception at listing on November 6, 2025. Watch initial trading volume, any exercise of the overallotment option, and net proceeds after underwriting discounts to understand the true cash available for operations over the next 12–18 months.

Biotechnology program strategist

The IPO funds a clinical-stage biotech focused on chronic inflammatory diseases, increasing resources for development and operations.

Evommune intends to use the proceeds to support its clinical programs; the $150 million gross raise should materially extend program funding compared with pre-IPO resources. The company remains at a clinical stage, so value will depend on future trial milestones rather than current revenue.

Risks include dilution if the underwriters exercise the 30-day option and the timing of clinical readouts relative to cash burn. Monitor announcements of specific trial milestones, spending guidance, and any material use-of-proceeds detail over the next 6–24 months to gauge whether the raise covers planned development milestones.

PALO ALTO, Calif., Nov. 5, 2025 /PRNewswire/ -- Evommune, Inc. ("Evommune"), a clinical-stage biotechnology company developing innovative therapies that target key drivers of chronic inflammatory diseases, today announced the pricing of its initial public offering of 9,375,000 shares of common stock at an initial public offering price of $16.00 per share. In addition, Evommune has granted the underwriters a 30-day option to purchase up to an additional 1,406,250 shares of common stock at the initial public offering price, less underwriting discounts and commissions. The gross proceeds to Evommune from the initial public offering, without giving effect to the underwriters' option to purchase additional shares and before deducting underwriting discounts and commissions and offering expenses, are expected to be $150 million.

The shares are expected to begin trading on the New York Stock Exchange on November 6, 2025 under the symbol "EVMN." The offering is expected to close on November 7, 2025, subject to customary closing conditions.

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

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (the "SEC"), and became automatically effective on November 5, 2025 pursuant to Section 8(a) of the Securities Act of 1933, as amended.

The offering of the shares is being made only by means of a prospectus forming part of the effective registration statement relating to these shares. Copies of the final prospectus relating to the offering may be obtained, when available, 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.

Forward-Looking Statements

This press release includes certain disclosures that contain "forward-looking statements," including, without limitation, statements regarding Evommune's expectations regarding the commencement of trading of its shares on the New York Stock Exchange, the completion and timing of the closing of the offering and the anticipated gross proceeds from the offering. Forward-looking statements are based on Evommune's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include risks and uncertainties related to the satisfaction of customary closing conditions and the completion of the offering, and the risks inherent in biopharmaceutical product development and clinical trials. These and other risks and uncertainties are described more fully in the section titled "Risk Factors" in the final prospectus related to the offering to be filed with the SEC. Forward-looking statements contained in this press release are made as of this date, and Evommune undertakes no duty to update such information except as required under applicable law.

View original content:https://www.prnewswire.com/news-releases/evommune-announces-pricing-of-its-initial-public-offering-302606409.html

SOURCE Evommune, Inc

FAQ

How many shares did Evommune (EVMN) offer in its IPO and at what price?

Evommune offered 9,375,000 shares at an IPO price of $16.00 per share.

What are the expected proceeds from Evommune's (EVMN) IPO?

Gross proceeds are expected to be approximately $150 million before underwriting discounts and expenses.

When will Evommune (EVMN) begin trading on the NYSE?

Shares are expected to begin trading on the New York Stock Exchange on November 6, 2025 under the ticker EVMN.

Does Evommune (EVMN) have an underwriters' option in the IPO?

Yes; underwriters have a 30-day option to purchase up to 1,406,250 additional shares at the IPO price.

When is the Evommune (EVMN) offering expected to close?

The offering is expected to close on November 7, 2025, subject to customary closing conditions.