RTTNews | Dec 14, 2020 10:34AM EST

10:33 Monday, December 14, 2020 (RTTNews.com) - Shares of Evelo Biosciences, Inc. (EVLO) are rising more than 43% Monday morning, continuing the momentum from December 9, after it reported positive top line clinical data from the Phase 1b study of its drug candidate EDP1815 in mild to moderate atopic dermatitis.

The stock nearly doubled from the opening price of December 9 and touched a new high of $11.67 this morning.

During the Phase 1b study, EDP1815 was observed to be well tolerated with no serious adverse events.

The primary endpoint of the study was safety and tolerability, and EDP1815 was observed to be well tolerated with no serious adverse events.

Treatment with EDP1815 demonstrated significant improvement in mean Eczema Area and Severity Index (EASI) and Investigator's Global Assessment and Body Surface Area (IGA BSA) score, the company said.

"For the fourth time in clinical trials we have observed that EDP1815 reduces systemic inflammation, showing positive results across Th1, Th2, and Th17-mediated inflammation. We look forward to sharing the complete dataset from this Phase 1b trial in early 2021 and advancing EDP1815 into later-stage trials in atopic dermatitis," said Duncan McHale, M.B.B.S., Ph.D., Chief Medical Officer of Evelo.

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