Evommune

EVMN

Biotechnology · Healthcare

Price

$12.14

+0.43 (+3.67%)

Market Cap

$172.0M

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Based on the IPO prospectus (annual filing). This score will refine automatically once the company reports its first quarters.

Share count rising — dilution

+4.8% over 2y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 30.1M (2023) → 31.5M (2025)

Evommune is a small biotech company focused on developing new medicines for skin diseases and immune system disorders. Its main programs target conditions like chronic itch (prurigo nodularis) and other inflammatory diseases where the immune system overreacts. The company does not yet sell any approved products — it is still running clinical trials to test whether its experimental drugs are safe and effective.

Evommune makes no meaningful revenue today, which explains its deeply negative operating margin. It is funded primarily through investor capital while it advances its drug pipeline through clinical development. The company operates mainly in the United States and, at roughly $300 million in market value, is considered a micro-cap clinical-stage biotech. The key risk is straightforward: if its lead drug candidates fail in clinical trials or cannot win regulatory approval from the FDA, the company has no fallback commercial product to generate income.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-100.0% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-33.3% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$74M/ year

↑ Rising (+15% vs prior year)

569.6% of revenue

31.6x the sector average (18%)

Investing heavily in future products and technology

Insider Activity

2.5%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~3 years

$308M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

$308M cash & investments at current burn rate

Heavy R&D investment

Evommune is putting 570% of revenue into R&D and that number is rising. That's 31.6x the sector average. With 3+ years of cash runway, they have time to let it pay off.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

100.0%

Premium pricing power — 100.0% gross margin

Operating Margin

-623.6%

Losing money on operations — -623.6%

ROCE

-39.3%

Weak — -39.3% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales YoY

+85.7%

Fast-growing sales (85.7% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

N/A

Data not available

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-589.8%

Burning cash (-589.8%)

Free cash flow is negative. They are burning cash, not generating it.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

Debt / Equity

0.00

Conservative — low debt load (0.00)

Interest Cover

N/A

Data not available

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Not applicable for this business.

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial