Evommune, Inc. · NYSE:EVMN

Evommune — Investor Presentation (September 2026)

42 slides from Evommune's investor presentation, September 2026

  1. Slide 1: Evommune Corporate Presentation

    Evommune Corporate Presentation September 2026 © Evommune, Inc.

  2. Slide 2: Disclaimers

    Disclaimers This presentation has been prepared by Evommune, Inc. (“we”, “us” or “our”) and contains forward-looking statements, including: statements about our expectations regarding the potential benefits, clinical activity and tolerability of our product candidates; our expectations with regard t

  3. Slide 3: Chronic Inflammation is a Global Healthcare Crisis

    Chronic Inflammation is a Global Healthcare Crisis 3 of 5 $90B >50% 234M Patients Diagnosed with Deaths Worldwide1 Annual Direct Cost2 I&I Therapies Fail Patients Immunological Disease3 Chronic Inflammation Substantial Burden on Treatments Have Advanced Therapies 7% Destroys Lives the Healthcare Sys

  4. Slide 4: A Broad Portfolio Progressing Multiple Opportunities

    A Broad Portfolio Progressing Multiple Opportunities EVO301 | IL-18 Biologic EVO756 | Oral MRGPRX2 EVO646 | Oral TLR7/8 IL-18 Blockade for Multi-Pathway Targeting Sensory Neurons and Dual Mechanism for Immunomodulation Mast Cells in Migraine Autoimmune Disease mation Type I Interferon Pathway flam I

  5. Slide 5: Pipeline of Potential Best-in-Class and/or First-in-Class Assets

    Pipeline of Potential Best-in-Class and/or First-in-Class Assets Program/Target Indication Preclinical Phase 1 Phase 2 Phase 3 EVO301 Atopic Dermatitis Phase 2b Data Anticipated 2028 IL-18BP Ulcerative Colitis Phase 2 Planning Underway Other Indications1 POC Achieved; Translational Evaluation in Pro

  6. Slide 6: EVO301 has Multi-Billion Dollar Potential

    EVO301 has Multi-Billion Dollar Potential Secure Access Advance to 1L AD Market Expansion Expand into IL-18 Diseases ~700K ~2.0M ~2.3M ~6M Patients Patients Patients Patients 2L+ Advanced 1L Advanced Moderate-to- Therapy AD Therapy AD Severe AD ~$100B Market Biologic-experienced / inadequate respond

  7. Slide 7: EVO301: Addresses Limitations of Existing Biologics

    EVO301: Addresses Limitations of Existing Biologics Demonstrated Ability to Impact Multiple Drivers of AD Adaptive Inflammation Skin No Innate Barrier Conjunctivitis Biologic Pathway TH2 TH1 TH17 Inflammation (IL-22) Signal IL-18 DUPIXENT® EBGLYSS® ADBRY® NEMLUVIO® Broader inflammatory signaling of

  8. Slide 8: Key Milestones Ahead For Evommune (NYSE: EVMN)

    Key Milestones Ahead For Evommune (NYSE: EVMN) Championing Innovation for Chronic Inflammation EVO301 • Plan to initiate Phase 2b in AD with subcutaneous formulation in mid-2027 IL-18BP EVO756 • Expect top-line data from Phase 2b migraine trial in 2027 MRGPRX2 EVO646 • Plan to initiate Phase 1 in 1H

  9. Slide 9: EVO301: Potential Best-in-Class IL-18BP Fusion Protein

    EVO301: Potential Best-in-Class IL-18BP Fusion Protein Long-Acting Serum Albumin-Binding Injectable Therapeutic Fusion Protein Designed to Neutralize IL-18 Signaling 9

  10. Slide 10: Potential to Command Substantial Market Share in AD Market

    Potential to Command Substantial Market Share in AD Market Route of Launch 2025 2025 Projected Projected Peak WW Sales in $M Class Administration1 Year WW Net Sales US Net Sales CAGR AD Net Sales in $M IL-4/-13 Q2W SubQ 2017 $12,496 $9,234 +9% $18,787 (2030) IL-13 Q2W SubQ 2021 $532 $422 +5% $691 (2

  11. Slide 11: Proven Playbook, Larger Market: AD Could Reach ~$60B

    Proven Playbook, Larger Market: AD Could Reach ~$60B 10 of 14 Psoriasis Advanced Therapies Became Blockbusters AD Has ~5x the Patients $12.5B Dupixent (IL-4/-13) $ 1.5B Adbry (IL-13) 60 $ 1.0B Rinvoq (JAK1) Atopic $ 0.5B Ebglyss (IL-13) Dermatitis $ 0.3B Nemluvio (IL-31) Mod-to-Sev 50 $ 0.3B Cibinqo

  12. Slide 12: EBGLYSS and NEMLUVIO AD Launches Outpace Historical Psoriasis Launches

    EBGLYSS and NEMLUVIO AD Launches Outpace Historical Psoriasis Launches 12 9 U.S. Monthly TRX (000s) Both EBGLYSS and 6 NEMLUVIO, Launched in 2024, Each Projected 3 Ebglyss for $2.5B+ Global Sales Nemluvio Bimzelx Skyrizi 0 1 2 3 4 5 6 7 8 9 10 11 12 Months Post-Launch 12 © Evommune, Inc. Sources: IQ

  13. Slide 13: IL-18 Immune Rebalancing: Modulate Innate and Adaptive Inflammation

    IL-18 Immune Rebalancing: Modulate Innate and Adaptive Inflammation for Potential Disease Remission Involved in Innate and Adaptive Immune Processes IL-18BP Therapeutic Infection Dysbiosis Tissue Injury Approach PAMPs* DAMPs* IL-18BP IL-18 IL-18 producing cells Stromal/mesenchymal Dendritic Macropha

  14. Slide 14: EVO301: Long-Acting IL-18 Neutralizer Designed for Tissue Targeting

    EVO301: Long-Acting IL-18 Neutralizer Designed for Tissue Targeting SAFA and IL-18BP Fused Via Peptide Linker for Extended Neutralization of IL-18 Activity SAFAbody Platform Technology • T½ extension: FcRn-mediated recycling of HSA Free IL-18 IL-18 • Efficient tissue distribution: – Smaller size (MW

  15. Slide 15: EVO301 Phase 2a Proof of Concept Trial Design

    EVO301 Phase 2a Proof of Concept Trial Design Adults with Moderate-to-Severe Atopic Dermatitis (N = 70) AD Population Randomized, Double-Blind, Parallel Group, Placebo-Controlled Trial • EASI ≥16 • vIGA ≥3 • BSA ≥10% 2 Active : 1 PBO Primary Endpoint Randomization EVO301: 5 mg/kg IV End of Trial Scr

  16. Slide 16: EVO301 Achieved the Primary Endpoint

    EVO301 Achieved the Primary Endpoint Phase 2a Proof-of-Concept Trial in Moderate-to-Severe Atopic Dermatitis (N=70) 34% 23% Highly significant EASI reductions vs placebo placebo-adjusted EASI improvement of patients achieved IGA 0/1 at week at weeks 4, 8, and 12 at week 8 (33% at week 12) 12 vs 0% o

  17. Slide 17: Phase 2a Trial in AD Demonstrated Statistically Significant Efficacy Across Time Points

    Phase 2a Trial in AD Demonstrated Statistically Significant Efficacy Across Time Points % Change in EASI by Study Visit ↓ ↓ Week 0 Week 2 Week 4 Week 8 Week 12 0 Placebo (n=22) -16 -18 EVO301 (n=48) -22 -22 ↓ Dosed at Weeks 0 and 4 *p<0.01 % Average Change in EASI -25 Off Drug Period -30 -41 -50 * -

  18. Slide 18: EVO301 Demonstrated Comparable Activity to Dose-Optimized Marketed Biologics

    EVO301 Demonstrated Comparable Activity at 12 Weeks to Dose-Optimized Marketed Biologics at 16 Weeks 45 38 from Baseline in EASI Placebo-Adjusted % 35 36 35 33 34 Improvement 30 23 15 14 0 EVO301 Dupixent® Dupixent® Ebglyss Ebglyss Adbry® Adbry® Nemluvio® EVO301-AD001 SOLO 1 SOLO 2 ADVOCATE 1 ADVOCA

  19. Slide 19: Planned EVO301 Phase 2b Dose-Ranging Trial in AD

    Planned EVO301 Phase 2b Dose-Ranging Trial in AD Trial Initiation Expected Mid-2027 Adults with Moderate-to-Severe Atopic Dermatitis Primary Endpoint (N ≈ 180) • % CFB in EASI at Week 16 Randomized, Double-Blind, Placebo-Controlled Trial Key Secondary Endpoints • EASI-50, EASI-75, and EASI-90 • Chan

  20. Slide 20: EVO301 Subcutaneous Formulation Exposure Consistent with IV

    EVO301 Subcutaneous Formulation Exposure Consistent with IV Comparable Nonclinical Serum Exposure Key PK Parameters 1,000.0 10 mg/kg (N = 3/group) Concentration (g/mL) Parameters Intravenous Subcutaneous 100.0 (IV) (SC) Cmax (g/mL) 343 90 10.0 AUC (g•hr/mL) ~27,000 ~27,000 1.0 IC90 (CD4+ T Cells)

  21. Slide 21: EVO756: Oral MRGPRX2 Antagonist

    EVO756: Oral MRGPRX2 Antagonist Potential First- and Best-in-Class Dual Mechanism Modulates Both Peripheral Sensory Neurons and Mast Cells 21

  22. Slide 22: EVO756: Targeting Major Unmet Need in Migraine Prevention

    EVO756: Targeting Major Unmet Need in Migraine Prevention ~ 30 M Patients Eligible for Preventative Therapy1 EVO756 – Defining the Next Wave of Preventatives 1 2 3 Oral Dosing Novel Dual Mechanism First-Line Potential 1. US/EU5/JP eligible patients estimated. Sources: Clarivate “Migraine: Disease La

  23. Slide 23: Strong Scientific Rationale for EVO756 in Migraine

    Strong Scientific Rationale for EVO756 in Migraine MRGPRX2 is expressed in human trigeminal Disease-Relevant Expression neurons and meningeal mast cells in vivo headache models support pathogenic Preclinical Validation role for MRGPRX2 Multiple MRGPRX2 ligands induce migraine in Translational Insigh

  24. Slide 24: MRGPRX2: Positioned to Address Neuronal and Mast Cell Drivers of Migraine

    MRGPRX2: Positioned to Address Neuronal and Mast Cell Drivers of Migraine MRGPRX2 Mediates Neuropeptide Signaling Associated Expression Confirmed in with Migraine (PACAP, VIP, Substance P) Disease-Relevant Tissues Meninges Trigeminal Ganglia Trigeminal Neurons: Primary sensory neurons mediating migr

  25. Slide 25: High Demand for Preventative Migraine Therapy

    High Demand for Preventative Migraine Therapy Limited Therapeutic Diversity Inadequate Efficacy Tolerability Challenges Remain Only CGRP inhibitors and neurotoxin ~45% of patients do not achieve 50% CGRPs associated with constipation, improvement and have ≥8 monthly migraine hypertension, Raynaud’s,

  26. Slide 26: PACAP Inhibition Achieves CGRP-Like Efficacy in Migraine Prophylaxis

    PACAP Inhibition Achieves CGRP-Like Efficacy in Migraine Prophylaxis Lundbeck’s Bocunebart Reduced Second Neuropeptide Axis Monthly Migraine Days by ~2 Validated in Migraine Prevention 0 Bocunebart (IV) Placebo PACAP is a key neuropeptide trigger of migraine attacks Monthly Migraine Days Mean Change

  27. Slide 27: PACAP Triggers Migraine via MRGPRX2

    PACAP Triggers Migraine via MRGPRX21 MRGPRX2 Ligand PACAP Knockout of MRGPRX21 Reduced Induces Headache in vivo PACAP-Induced Migraine Symptoms Facial withdrawal threshold2 1 PACAP injected directly to meninges of wild type and knockout models 2 Facial withdrawal threshold used as functional pain Ti

  28. Slide 28: Neuropeptides that Trigger Migraine Are Known MRGPRX2 Ligands

    3 Neuropeptides that Trigger Migraine Are Known MRGPRX2 Ligands PACAP Impact in Migraine Is Primarily through MRGPRX2 Relevant Clinical PACAP Tissue Preclinical Validation PACAP Receptor Expression Evidence? In Migraine? PAC1 Neurons1 Limited VPAC1 Cranial vessels Not Limited VPAC2 Neurons (?) evalu

  29. Slide 29: Neuropeptides that Trigger Migraine Signal Through MRGPRX2

    3 Neuropeptides that Trigger Migraine Signal Through MRGPRX2 PACAP VIP Substance P MRGPRX2 29 © Evommune, Inc. Note that PACAP also binds PAC1, VPAC1, VPAC2, but PAC1 inhibition does not show therapeutic benefit in migraine.

  30. Slide 30: Blocking MRGPRX2 Addresses Validated Migraine Triggers

    Blocking MRGPRX2 Addresses Validated Migraine Triggers Induced Preclinical Headache in Clinical Neuropeptide Evidence Humans Validation PACAP VIP Substance P Note that PACAP also binds PAC1, VPAC1, VPAC2, but PAC1 inhibition does not show therapeutic benefit in migraine. 30 © Evommune, Inc.

  31. Slide 31: EVO756 Clinical Development Overview

    EVO756 Clinical Development Overview Phase 1 Trial Proof-of-Concept Phase 2 Phase 2b N 132 30 ~330 Indication Healthy Volunteers CIndU Migraine Key Takeaways • Well-tolerated • Well-tolerated Trial Initiated in • Clear target engagement • Complete responses as July 2026, Top- line Data • ~70% human

  32. Slide 32: Planned Phase 2b Dose-Ranging Trial in Migraine Prophylaxis

    Planned Phase 2b Dose-Ranging Trial in Migraine Prophylaxis Top-line Data Expected in 2027 Adults with Refractory Migraine ≥6 Days/Month (N ≈ 330) Randomized, Double-Blind, Placebo-Controlled Trial Primary Endpoint • Mean CFB in MMD EVO756, Dose 1 Key Secondary Endpoints • ≥50%, ≥75% reduction in MM

  33. Slide 33: EVO646: Oral TLR7/8 Antagonist

    EVO646: Oral TLR7/8 Antagonist Potential Best-in-Class Dual Mechanism (Type I Interferon and Pathogenic B-Cell / Autoantibody) for Autoimmune Disease 33

  34. Slide 34: TLR7/8 Inhibition Suppresses Two Major Drivers of Autoimmune Disease

    TLR7/8 Inhibition Suppresses Two Major Drivers of Autoimmune Disease Type I Interferon Pathway Pathogenic B-Cell Pathway Suppresses pDC-driven type I interferon production Reduces B-cell activation, plasmablast differentiation, and autoantibody production IL-6 IFNa Inflammation pDC IFNb B cell Eleva

  35. Slide 35: Large Market Opportunity for TLR7/8

    Large Market Opportunity for TLR7/8 Autoimmune Indications: Highly Valued Segment of I&I Market Strong Scientific Rationale for TLR7/8 Potential Indications TLR7/8 in Autoimmune Diseases 6M Patients Initial Targeted Indications1 Human Genetics Strong causal link of TLR7 to autoimmune disease Immune

  36. Slide 36: Established Clinical Validation for TLR7/8 Inhibition

    Established Clinical Validation for TLR7/8 Inhibition Positive Phase 2 Efficacy with Afimetoran3 Validated TLR7/8 enpatoran Establishes Proof- Inhibition in SLE​ of-Concept for TLR7/8 Phase 2 Met SRI-4 Primary Inhibition1 Across All 3 Doses4 Enpatoran Demonstrated Phase 2 ~Complete TLR7/8 blockade L

  37. Slide 37: EVO646: Strategic Approach for a Best-in-class TLR7/8 Inhibitor

    EVO646: Strategic Approach for a Best-in-class TLR7/8 Inhibitor Developed through Partnership with Accutar Biotech, an AI-empowered Drug Discovery Leader Attribute Targeted Outcome Potency • <10 nM IC50 against human TLR7/8 Selectivity • >100-fold less potent at inhibiting TLR9 • QD dosing, with ≤10

  38. Slide 38: EVO646 has Best-in-Class Potential

    EVO646 has Best-in-Class Potential EVO646 pairs potentially competitive potency with QD dosing and strong safety profile Comparable IL-6 suppression at 0.1 mg/kg EVO646 Afimetoran Enpatoran (Evommune) (BMS/Beeline) (Merck Serono) Potency (nM) 6.70 1.70 11.2 (HEK293T) In vivo activity >80% inhibition

  39. Slide 39: Key Milestones Ahead For Evommune (NYSE: EVMN)

    Key Milestones Ahead For Evommune (NYSE: EVMN) Championing Innovation for Chronic Inflammation EVO301 • Plan to initiate Phase 2b in AD with subcutaneous formulation in mid-2027 IL-18BP EVO756 • Expect top-line data from Phase 2b migraine trial in 2027 MRGPRX2 EVO646 • Plan to initiate Phase 1 in 1H

  40. Slide 40: Thank You!

    Thank You! www.evommune.com 40

  41. Slide 41: Appendix

    Appendix 41

  42. Slide 42: Proven and Experienced Leadership Team Has Delivered Almost 30 NDAs and BLAs

    Proven and Experienced Leadership Team Has Delivered Almost 30 NDAs and BLAs Leadership in >25 Companies Key Roles in Almost 30 NDA / BLAs (Acquired by Eli Lilly (Acquired by Sanofi for $1.1B) for $1.9B) Luis Peña Eugene Bauer, MD Kyle Carver, MBA Founder, President & CEO Founder, CMO CFO (Acquired

Evommune — Investor Presentation (September 2026) on 6ix