Evelo Biosciences debuts today at $16

|About: Evelo Biosciences (EVLO)|By:, SA News Editor

Evelo Biosciences (NASDAQ:EVLO) prices its IPO of ~5.3M shares of common stock at $16 per share. Underwriters over-allotment is an additional ~797K shares. Trading kicks off today.

The Cambridge, MA-based biotech develops treatments that act on the gut-body network. Its pipeline consists of candidates in oncology and inflammatory diseases. Lead candidate is Phase 1-stage EDP1066 for psoriasis.

2017 Financials ($M): Operating Expenses: 27.5 (+111.5%); Net Loss: (34.1) (-127.3%); cash burn: (23.3) (-89.4%).

Update: Shares opened at $16 today, May 9.

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