Evotec Ag Stock Price, News & Analysis

Evotec SE (NASDAQ:EVO) has announced its FY 2024 results and unveiled a new strategic direction focused on drug discovery and biologics. The company reported a 2% revenue increase to €797.0 million, with Q4 2024 revenues up 10% to €221.2 million.

Key highlights include:

• Just - Evotec Biologics segment grew 71% year-over-year to €185.6 million
• Adjusted Group EBITDA reached €22.6 million
• Priority Reset program on track to deliver €40 million in annual savings
• Net debt leverage ratio improved to 1.9x

For 2025 guidance, Evotec expects:

• Revenue range of €840-880 million
• R&D expenditure of €40-50 million
• Adjusted Group EBITDA of €30-50 million

The company's 2028 outlook targets revenue CAGR of 8-12% (2024-2028) and adjusted EBITDA margin above 20%.

Evotec SE (NASDAQ: EVO) has scheduled the announcement of its financial year 2024 results for Thursday, April 17, 2025. The company will host a conference call at 2:00 PM CEST (1:00 PM BST, 8:00 AM ET) to discuss the results and provide updates on their concluded strategic review process.

The presentation will be conducted in English and will be accessible via both webcast and phone conference. Participants joining via phone must pre-register to receive dedicated dial-in details. The company will make an on-demand version of the webcast available on their website following the presentation.

Evotec SE (NASDAQ:EVO) has achieved a significant milestone in its neuroscience collaboration with Bristol Myers Squibb, triggering a $20 million research payment. The achievement relates to advancing a promising pre-clinical programme in neurodegeneration.

The strategic partnership, initiated in December 2016, focuses on developing disease-modifying treatments for neurodegenerative diseases, moving beyond current symptom management approaches. Notable successes include the in-licensing of EVT8683 (now BMS-986419) by Bristol Myers Squibb in September 2021.

In March 2023, both companies extended their collaboration for an additional eight years, demonstrating their commitment to developing breakthrough therapies for neurological diseases.

Evotec SE (NASDAQ:EVO) announced a significant leadership change as Chief Financial Officer Laetitia Rouxel will step down effective February 28, 2025, and leave the company by March 31, 2025. Paul Hitchin has been appointed as the new CFO, effective March 1, 2025.

Hitchin brings over 20 years of finance leadership experience, most recently serving as CFO at Mediq where he led business growth and transformation initiatives. His previous roles include 13 years at General Electric, including 5 years with GE Healthcare. The company emphasized that Hitchin's financial expertise and transformation experience will be important for Evotec's strategic journey toward profitable and sustainable growth.

Evotec SE (NASDAQ: EVO) announced a collaborative grant of US$ 4.5 million from the Korea Institute of Advanced Technology (KIAT) alongside Yonsei University and Korean biotech Zymedi. The funding will support the development of first-in-class biologic therapies for lung diseases, specifically asthma and idiopathic pulmonary fibrosis (IPF).

The project focuses on developing novel anti-inflammatory and anti-fibrotic antibodies targeting tRNA synthetases, an emerging therapeutic target class. The collaboration combines Yonsei University's expertise in tRNA synthetases, Zymedi's translational capabilities, and Evotec's antibody development and manufacturing technologies.

The initiative aims to advance first-in-class antibodies with a novel mechanism-of-action to treat IPF and non-type 2 asthma, both conditions with significant unmet medical needs.

Evotec SE and Novo Nordisk have selected their first three projects for LAB eN² drug discovery accelerator, focusing on cardiometabolic diseases. The selected projects come from Boston University, Harvard University (with Mass General Brigham), and Joslin Diabetes Center. The program is also expanding to include five new academic institutions.

The projects focus on: inflammation in cardiometabolic diseases and chronic kidney disease; molecular mechanisms related to bariatric surgery for metabolic syndrome treatment; and a novel target approach for type 1 diabetes. Projects receive initial Discovery Award funding, with potential additional funding up to IND application stage. Novo Nordisk maintains the option to further develop and license specific programs.

Evotec SE announced that Chief Operating Officer Dr Craig Johnstone will step down and leave the company effective December 31, 2024. Johnstone joined Evotec in 2012, serving various leadership roles before becoming COO in 2019. During his 12-year tenure, he played a key role in shaping Evotec and Global Operations. The COO responsibilities will be distributed internally across the Global Operations Leadership Team until a new organizational structure is announced following the Strategic Review.

Evotec SE acknowledges Halozyme Therapeutics Inc.'s withdrawal of its non-binding proposal to acquire Evotec for EUR11.00 per share in cash. The proposal was initially submitted on November 13, 2024. Evotec's Management Board and Supervisory Board, along with advisors, were in the process of evaluating the proposal when it was withdrawn. The company's leadership maintains strong confidence in their standalone strategy, which they believe will drive growth, enhance long-term profitability, and create significant shareholder value.

Halozyme Therapeutics (NASDAQ: HALO) has withdrawn its non-binding proposal to acquire Evotec SE (NASDAQ: EVO) for €11.00 per share in cash, which valued Evotec at €2.0 billion. The withdrawal comes after Evotec's unwillingness to engage in discussions about the potential combination. Despite Halozyme's attempts to engage with Evotec's leadership, including informal discussions with a Supervisory Board member, their requests were not accepted. Halozyme maintains its 2024 guidance with revenue of $970-$1,020 million and adjusted EBITDA of $595-$625 million, and projects 10 approved products with ENHANZE® by 2025 and $1 billion in royalty revenue by 2027.