Company: Evelo Biosciences, Inc.
Symbol: EVLO
Description: Evelo Biosciences is discovering and developing potential therapies designed to act on the gut-body network.
Trade Date: 5/9
Shares: 5.3 million
Price Range: $15.00-$17.00
Underwriter(s): Morgan Stanley, Cowen, BMO Capital Markets
Co-Manager(s): JMP Securities
Terms Added: 4-30-18
Business: The action of their therapies is based on their growing understanding of the central role of the gut in controlling immune and biological activity throughout the body. The gut-body network represents the connections of the gut to all organs and tissues, which enables the gut to exert a significant level of control over the body’s immune and biological systems. The centrality of the gut-body network to the immune system has only recently become appreciated, and modern medicine and drug discovery have largely overlooked the importance of the gut-body network in fighting disease. They believe that they have the potential to use the unexplored biology of the gut-body network to develop novel therapies that could transform the treatment of many major diseases, potentially driving profound benefits to patients and society.
Insider Buying: Certain of their existing stockholders, including entities affiliated with certain of their directors, have indicated an interest in purchasing an aggregate of approximately $40.0 million in shares of their common stock in this offering at the initial public offering price.
License Agreement(s): In March 2016, they entered into an exclusive license agreement with the University of Chicago. In August 2017, they entered into an agreement with the Mayo Foundation for Medical Education and Research, an affiliate of Mayo Clinic, or Mayo Clinic, to license intellectual property and microbial strains. Effective February 2018, they entered into an exclusivity and commitment agreement with Biose Industrie, or Biose.
Book-Building Status: The way the book comes together during the week of the roadshow is the most critical indicator to first-day and first-week performance. IPO Boutique uses its 45 years of experience and sources all over the street to gather daily subscription levels, specific price guidance and what type of investors are currently in the book or are anchoring orders in the book. In addition, recent underwriter performance on sector specific deals is a strong factor that IPO Boutique takes into account when determining if our clients should indicate for any offering.
IPO Boutique subscription clients receive daily updates on this critical information.
Conclusion: IPO Boutique provides ratings, daily commentary and a forecast for how this IPO will open vs. its offering price. We have kept a track record with our performance for last 12 years at our website. Additionally, here’s a 2017 recap of our performance to showcase the value of IPO Boutique’s service.
Indicate with confidence, SUBSCRIBE today.
English
Arabic
Chinese (Simplified)
Dutch
French
German
Italian
Portuguese
Russian
Spanish