Welcome to our dedicated page for Evotec news (Ticker: EVO), a resource for investors and traders seeking the latest updates and insights on Evotec stock.
Evotec SE (NASDAQ: EVO; Frankfurt: EVT) is a life science company focused on drug discovery and development, and its news flow reflects ongoing activity across partnerships, platforms and biologics. Company updates frequently highlight progress in strategic collaborations, such as multi-target kidney disease programs with Bayer, protein degradation and neuroscience alliances with Bristol Myers Squibb, and technology-focused agreements with Sandoz.
Investors following EVO news can expect announcements on clinical and preclinical milestones, including the advancement of monoclonal antibody programs into Phase 2 trials and Investigational New Drug acceptances for molecular glue degraders. Evotec also reports on grants and global health initiatives, for example Gates Foundation support for Just - Evotec Biologics’ J.MD™ molecular design service to improve the developability and affordability of monoclonal antibodies for infectious diseases.
News from Just - Evotec Biologics often centers on biologics development, continuous manufacturing technologies and the evolution of its asset-lighter model. This includes transactions such as the sale of the Toulouse site to Sandoz combined with an indefinite license to Evotec’s continuous manufacturing platform, as well as updates on revenue growth with a broadened customer base.
Regular corporate communications also cover financial results, guidance updates, cost reduction initiatives and organizational changes, such as segment renaming to Discovery & Preclinical Development and senior leadership appointments in communications and investor relations. For readers tracking EVO stock, this news page provides a consolidated view of how Evotec’s partnerships, platforms and strategic transactions are progressing over time.
Evotec SE announced that the majority of proposals put forward at its 2024 Annual General Meeting (AGM) were approved by shareholders. Held on June 10, 2024, the AGM saw the election of Dr. Duncan McHale and Wesley Wheeler to the Supervisory Board, replacing Dr. Elaine Sullivan and Dr. Mario Polywka. Most agenda items, including the 2023 Remuneration Report, received majority approval, except the discharge of the former CEO, Dr. Werner Lanthaler, for the 2023 financial year, which was rejected. Shareholders also agreed to amendments to the Articles of Association and confirmed BDO AG Wirtschaftspruefungsgesellschaft as auditors for 2024. The AGM represented 58.18% of the registered share capital.
Evotec has entered a collaboration with Inserm, Lille University Hospital, and Inserm Transfert to identify new therapeutic targets and markers for obesity and metabolic diseases. This partnership will utilize Evotec's PanOmics technologies to analyze large omics datasets, including transcriptomics, proteomics, and metabolomics, from over 8,000 human samples. Evotec will support the recruitment of 200 additional subjects in the next two years. The data will be integrated into Evotec's E.MPD platform for analysis. The collaboration aims to better understand the molecular mechanisms of metabolic conditions and develop more effective treatments.
Evotec SE has extended its 20-year collaboration with CHDI Foundation, a nonprofit focused on Huntington's disease therapeutics. This alliance leverages Evotec's neuroscience platform and expertise in CNS drug discovery. Initiated in 2006, it remains one of Evotec's largest strategic drug discovery partnerships. The collaboration covers diverse services, including target validation, stem-cell research, and biomarker discovery. Evotec's COO, Dr. Craig Johnstone, expressed pride in their ongoing contributions, while CHDI's CSO, Dr. Robert Pacifici, praised Evotec's role in CHDI's preclinical research programs.
Evotec SE reported its Q1 2024 financial results, revealing a 2% drop in group revenues to €208.7 million. This decline was driven by a 23% reduction in Shared R&D revenues, which fell to €155.2 million due to a challenging market. However, Just - Evotec Biologics saw a remarkable 383% revenue increase to €53.5 million.
Adjusted Group EBITDA significantly decreased to €7.8 million from €34.3 million in Q1 2023, affected by higher costs and lower operating income. The company introduced new reporting segments to simplify its structure and aims to reset for profitable growth.
Evotec's strategic partnerships and new agreements in AI, neuroscience, and IBD therapies contribute to its pipeline. Notable collaborations with Owkin, Bristol Myers Squibb, and the Crohn's & Colitis Foundation were highlighted. Post-period events include new partnerships for fibrosis treatments with Variant Bio and precision cardiology with Bayer.
Corporate updates include a CEO transition to Dr. Mario Polywka and the completion of the closure of its Chemistry activities in Marcy. The full-year 2024 outlook anticipates double-digit revenue growth and mid-double-digit adjusted EBITDA growth.
Evotec SE (NASDAQ: EVO) will announce its first quarter 2024 financial results on May 22, 2024. The company will host a conference call on the same day at 2:00 pm CEST (8:00 am EDT) to discuss the results and provide a performance update. Evotec operates globally in underserved therapeutic areas, including neurology, oncology, metabolic, and infectious diseases. The company has over 200 R&D projects and collaborates with Top 20 Pharma and 800+ biotechnology firms. The webcast and presentation slides will be available on Evotec's investor relations website.
Bayer and Evotec have updated their strategic collaboration to focus on developing innovative precision treatments for cardiovascular diseases. By leveraging Evotec's disease modelling capabilities using human induced pluripotent stem cells (iPSCs), the alliance aims to identify and validate novel targets to build a portfolio of precision cardiology therapeutics. Both companies will contribute drug targets and technology platforms for the development of innovative treatment options. Bayer will handle clinical development and commercialization while sharing responsibilities during pre-clinical development with Evotec. The collaboration seeks to address the high unmet medical need in cardiovascular diseases that are the leading cause of death globally.
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