Update: Growth drivers intact despite EVT302 setback
EVT302 has failed to meet the primary endpoint of a Phase IIb trial inAlzheimer’s disease. Partner Roche will now fully evaluate all secondary
endpoints to determine EVT302’s future. We have lowered EVT302’s
probability of success to 5% (from 20%), reducing our valuation to €486m.
Despite this pipeline disappointment, we continue to believe that Evotec
remains well placed to accelerate growth, with the Sanofi deal providing
capacity, guaranteed future revenues and enhanced capabilities.
Evotec is a holding company engaged as a drug discovery solutions company providing drug discovery capabilities to pharmaceutical and biotechnology companies as well as to academic institutions. These drug discovery solutions are provided in form of fee-for service work, integrated drug discovery alliances, development partnerships, licensing of drug candidates and consulting arrangements. Co. is primarily involved in the areas of neuroscience, pain, metabolic diseases, oncology and inflammation. Co. provides its drug discovery activities under the banners of EVT Execute, EVT Integrate and EVT Innovate. Co.'s operations are divided into two segments: EVT Execute and EVT Innovate.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
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