Thinly traded micro cap Evelo Biosciences (EVLO -10.2%) is down on average volume in early trade following its release of preliminary data from a Phase 1 study of EDP1815 in patients with mild-to-moderate psoriasis.
12 patients were randomized 2:1 to receive either 550 mg of EDP1815 or placebo once daily for 28 days. Those in the treatment group showed a statistically significant reduction in mean lesion severity score (LSS) compared to control. Specifically, the mean reduction in LSS was two points versus an increase of 0.25 points for placebo (p<0.05). Investors appear unmoved with the results considering that LSS is a lower bar for psoriasis assessment.
The company plans to advance the candidate into Phase 2 development in early 2020 in the same patient population over a 24-week treatment period.
The safety profile was on par with placebo.
EDP1815 is an orally administered monoclonal strain of a gut bacterium called Prevotella histicola that has also shown potential to ameliorate other inflammatory conditions, including multiple sclerosis.
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