Slide 1: Corporate Presentation May 2026
May 2026 © Evommune, Inc. Corporate Presentation
Slide 2: Disclaimers
Disclaimers © Evommune, Inc. 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 expectati
Slide 3: Evommune is Addressing Chronic Inflammation, a Global Healthcare Crisis
Evommune (EVMN) is Addressing Chronic Inflammation, a Global Healthcare Crisis 5 Substantial Burden on the Healthcare System Annual direct cost of at least $90B2 Existing Treatment Options Have Critical Limitations Current therapies fail to deliver efficacy and safety suitable for the majority of pa
Slide 4: Our Mission-Driven Approach to Treating Immune-Mediated Diseases
5v Our Mission-Driven Approach to Treating Immune-Mediated Diseases © Evommune, Inc. Two Phase 2 Programs with Novel Approaches to Targeting Heterogeneous Diseases EVO756: Oral Therapy Targeting Mast Cells and Sensory Neurons EVO301: IL-18 Blockade for Multi-Pathway Immunomodulation Address critical
Slide 5: Our Inflammation Portfolio
Our Inflammation Portfolio © Evommune, Inc. Program / Target Indication Preclinical Phase 1 Phase 2 Phase 3 Next Anticipated Milestone EVO756 MRGPRX2 Chronic Spontaneous Urticaria Phase 2b Data (June 2026) Atopic Dermatitis Phase 2b Data (Q3 2026) Migraine Phase 2b Trial Initiation (mid-2026); Topli
Slide 6: EVO756: Oral MRGPRX2 Antagonist
EVO756: Oral MRGPRX2 Antagonist Targeted Approach to Controlling Mast Cell Mediated Diseases and Neuroinflammation © Evommune, Inc.
Slide 7: EVO756: Broad Spectrum Oral Anti-Inflammatory Potential
EVO756: Broad Spectrum Oral Anti-Inflammatory Potential MRGPRX2 Expressed on Both Mast Cells and Sensory Neurons Potent and highly selective small molecule Oral convenience could drive adoption across multiple indications Anticipate favorable safety and tolerability profile Potential First-Line Oral
Slide 8: MRGPRX2 in Mast Cell Activation and Neuroinflammation
Mast Cell MRGPRX2 Ligands Tissue Damage Sensory Neuron Vasodilation, Extravasation Immune Recruitment / Activation Sensory Neuron Activation Mast Cell Degranulation Itch / Pain / Cough Tissue Pathophysiology Clinical Manifestations Inflammatory Infiltrates Increased Mast Cell Numbers Innate Immunity
Slide 9: EVO756 Development Roadmap
EVO756 Development Roadmap: Demonstrate Proof-of-Concept and Expand into Additional Indications Initially pursue inflammatory diseases with: Underserved patient population Economic viability Well-defined clinical and regulatory development pathway Cutaneous Neurological Respiratory Other EVO756 Deve
Slide 10: EVO756 Clinical Data
10 EVO756 Clinical Data © Evommune, Inc. Dual Mechanism Modulates Both Mast Cells and Peripheral Sensory Neurons
Slide 11: EVO756: Encouraging Results in Two Clinical Trials
EVO756: Encouraging Results in Two Clinical Trials Support Initial Development in CSU and AD © Evommune, Inc. CIndU = Chronic inducible urticaria; CSU = Chronic spontaneous urticaria; AD = Atopic dermatitis EVO756 Clinical Development Summary Trial Phase 1 Proof-of-Concept Phase 2 Phase 2b Phase 2b
Slide 12: EVO756: Phase 1 Proof-of-Concept
PART A: SAD Dosing N = 55 (41 active / 14 placebo) EVO756: Phase 1 Proof-of-Concept Trial Design and Summary Inclusion of Skin Challenge in MAD Portion Allowed Early PD Assessment and Trial Showed Positive Pharmacokinetics and Pharmacodynamics © Evommune, Inc. ECG = Electrocardiogram Cohort A1 1 mg
Slide 13: EVO756: Phase 2 Trial in CIndU Data
EVO756: Phase 2 Trial in Chronic Inducible Urticaria (CIndU) Data © Evommune, Inc.
Slide 14: Phase 2 CIndU Trial Design
5v Phase 2 Chronic Inducible Urticaria (CIndU) Trial Design © Evommune, Inc. SD = symptomatic dermographism; TEAE = Treatment Emergent Adverse Events; BL = Baseline. Trial identifier: NCT06603220 Follow-up Screening Enrollment End of Trial BL W6 EVO756, 300 mg QD EVO756, 50 mg BID W4 Patient Populat
Slide 15: Robust Clinical Activity at 4 Weeks
Both Doses Demonstrated Robust Clinical Activity At Just 4 Weeks, 70% ≥1 Pt Improvement, 41% ≥2 Pt Improvement, 30% Complete Response Rate © Evommune, Inc. Evommune clinical data; 1. Four of the complete responders were IgE high; 2. 75% (n=6) of those who did not achieve a decrease in FricTest score
Slide 16: Potential for Increased Response with Longer Dosing
EVO756 Potential for Increased Response with Longer Dosing Omalizumab and Barzolvolimab Activity Continued to Improve Over Time © Evommune, Inc. Week Mean FricTest Score (0-4) 0 4 10 12 EVO756 50mg BID* EVO756 300mg QD Omalizumab 150 mg Q4W Omalizumab 300 mg Q4W Barzolvolimab 150 mg Q4W Barzolvolima
Slide 17: Safety Summary
5v Safety Summary Well Tolerated Across All Evaluated Dosing Levels © Evommune, Inc. Evommune clinical data; ALT = alanine aminotransferase; AST = aspartate aminotransferase; 1. The two subjects in the 300 mg QD cohort with AEs of increased ALT and AST had asymptomatic transaminase elevations that w
Slide 18: EVO756: PK Data and Molecular Properties
EVO756: Pharmacokinetic (PK) Data and Molecular Properties © Evommune, Inc.
Slide 19: Pharmacokinetic Modeling Based on Clinical Data to Date
Pharmacokinetic Modeling Based on Clinical Data to Date IC90 Coverage Across All Dose Levels Supports Potential QD and BID Dosing Regimens Footnotes: IC90 Primary Mast Cells = 180 ng/mL © Evommune, Inc. Day 10 Median Concentrations Relative Plasma EVO756 Concentrations (ng/mL) Time (hours) IC90 Mult
Slide 20: EVO756 Phase 2b Dose Selection Rationale
EVO756 Phase 2b Dose Selection Rationale Understanding of Dose Response Evolved During CIndU Study, Guiding Phase 2b Trial Doses © Evommune, Inc. Active across all icatibant doses 10 μg/mL icatibant dose is most relevant comparison based on patient biopsies Suggests potential activity as low as 10 m
Slide 21: EVO756: Phase 2b Trial in CSU
EVO756: Phase 2b Trial in Chronic Spontaneous Urticaria (CSU) © Evommune, Inc.
Slide 22: EVO756 Blocks MRGPRX2 & IgE Mast Cell Degranulation
EVO756 Blocks MRGPRX2 & IgE Mast Cell Degranulation Suggests benefit of MRGPRX2 inhibition for all CSU endotypes In Mast Cells, MRGPRX2 and FcER Pathways Converge Dual Activation of MRGPRX2 and IgE Potently Drives Degranulation, and EVO756 Blocks this Effect SP – Substance P. Mast cell degranulation
Slide 23: Evidence of Overlap between CIndU and CSU Pathogenesis
Strong Evidence of Overlap between CIndU and CSU Pathogenesis Lesional (L) Non-lesional (NL) ISF collected using microneedle device Chronic Spontaneous Urticaria (CSU) Chronic Inducible Urticaria (CIndU) Baseline Cold provocation 15 minutes & 4 hours ISF collected using microneedle device Interstiti
Slide 24: Relationship Between CIndU Efficacy and Impact on CSU
Relationship Between CIndU Efficacy and Impact on CSU Phase 2 EVO756 Results in CIndU Provide Early Support for Potential CSU Clinical Profile © Evommune, Inc. Direct comparisons cannot be made in the absence of head-to-head trials because of differences in trial design, patient population and other
Slide 25: Phase 2b Dose-Ranging Trial in CSU
Phase 2b Dose-Ranging Trial in CSU Top-Line Data Expected Q2 2026 © Evommune, Inc. UAS7 = Urticaria Activity Score over 7 days; ISS7 = Itch Severity Score component of UAS7; HSS7 = Hives Severity Score component of UAS7; AAS7 = Angioedema Activity Score; BL = Baseline; Mod-to-Sev = Moderate-to-Sever
Slide 26: Potential to Address an Urticaria Market
EVO756: Potential to Address an Urticaria Market With Significant Therapeutic Opportunity Anti-IgE Therapy Blocks Mast Cell Activation Anti-KIT Depletes Mast Cells Anti IL-4 / IL-13 Blocks T2 Cytokines MRGPRX2 Antagonists Blocks Mast Cell Activation Modulates Neuro-inflammation KIT Inhibitors Deplet
Slide 27: CSU is an Underserved Market with Limited Treatment Options
Estimated CSU Prevalence1 Eligible CSU Patients2 Untreated by Advanced Therapies3 CSU is an Underserved Market with Limited Treatment Options Footnotes: In the US; Maurer et al. (2011) In the US; “Eligible” defined as CSU patients with incomplete response to OTC H1-antihistamines and eligible for ta
Slide 28: EVO756 in Atopic Dermatitis
EVO756 in Atopic Dermatitis (AD) © Evommune, Inc.
Slide 29: MRGPRX2 is Only Dual MOA
MRGPRX2 is Only Dual MOA: Targeting Inflammatory Lesions and Neuroinflammation Strong Scientific Rationale for EVO756 in AD Expect Benefit on Mast Cell and Neuroinflammation Aspects of AD © Evommune, Inc. Pathway activation in disease and preclinical evidence of Mrgprb2/X2 involvement Strong transla
Slide 30: CytoReason Collaboration: in silico AD Model
CytoReason Collaboration: in silico AD Model Identifies and Validates Opportunities Beyond IL-4/IL-13 © Evommune, Inc. MRGPRX2 Signature Generation Computational Engine Clinical Anchoring in silico AD Model From RNAseq of in vitro human mast cells activated with MRGPRX2 ligands with/without EVO756 I
Slide 31: Predictive Modeling Reveals MRGPRX2 as Core to AD Pathophysiology
Predictive Modeling Reveals MRGPRX2 as a Core to AD Pathophysiology © Evommune, Inc. Magenta = Th2 signatures; Teal = Itch / Neuroinflammation signatures, Green = Th22 signatures, Blue = Th17 signatures Broad reach may enable EVO756 to potentially outperform IL-4/-13–restricted approaches In collabo
Slide 32: MRGPRX2 Captures Core IL-4/-13 Biology and Broader Drivers
MRGPRX2 Captures Core IL-4/-13 Biology and Broader Disease Drivers © Evommune, Inc. Shared Biology MRGPRX2 and IL-4/-13 signatures capture both Th2 inflammation and neuroinflammation Differentiated Coverage MRGPRX2 uniquely captures “white space” biology, including cellular proliferation and barrier
Slide 33: Phase 2b Dose-Ranging Trial in AD
Phase 2b Dose-Ranging Trial in AD Top-Line Data Expected Q3 2026 © Evommune, Inc. EASI = Eczema Area and Severity Index; vIGA = Validated Investigator Global Assessment; Pruritus-NRS = Pruritus Numerical Rating Scale; BSA = Body Surface Area; BL = Baseline. Trial identifier: NCT07150845 Primary Endp
Slide 34: AD is an Underserved Market Lacking a First-Line Oral Option
Estimated Adult AD Prevalence1 Patients with Moderate-to-Severe Disease Patients Eligible for Targeted Therapy AD is an Underserved Market Lacking a First-Line Oral Option Current Therapies Fail to Deliver Both Lesion Control and Itch Relief, While Also Being Well-Tolerated Footnotes: In the US; Ato
Slide 35: EVO756 in Migraine
EVO756 in Migraine © Evommune, Inc.
Slide 36: MRGPRX2: Addressing Neuronal and Mast Cell Drivers of Migraine
MRGPRX2: Positioned to Address Neuronal and Mast Cell Drivers of Migraine © Evommune, Inc. Source: Evommune internal data (trigeminal neurons; in situ hybridization on human tissue samples), PMID40712576 (meningeal mast cells) Expression Confirmed in Disease-Relevant Tissues MRGPRX2 nuclei Trigemina
Slide 37: Inhibition of PACAP Achieves CGRP-Like Efficacy in Migraine
Inhibition of MRGPRX2 Ligand PACAP Achieves CGRP-Like Efficacy in Migraine Prophylaxis © Evommune, Inc. Note: Lundbeck’s bocunebart is a humanized mAb that neutralizes PACAP. Results above from Phase 2 a study in migraine prophylaxis (HOPE; N=237; single IV administration of bocunebart in patients t
Slide 38: Neuropeptides that Trigger Migraine Signal Through MRGPRX2
3 Neuropeptides that Trigger Migraine Signal Through MRGPRX2 Neuropeptide Preclinical Evidence Induced Headache in Humans Clinical Validation PACAP VIP TBD Substance P TBD MRGPRX2 Inhibition May Offer Broader Migraine Benefit than Targeting PACAP Alone © Evommune, Inc. Note that PACAP also binds PAC
Slide 39: Planned Phase 2b Dose-Ranging Trial in Migraine Prophylaxis
Planned Phase 2b Dose-Ranging Trial in Migraine Prophylaxis Initiation Expected Mid-2026 © Evommune, Inc. BL = Baseline; CFB = change from baseline; MMD = monthly migraine days; MHD = monthly headache days; QoL = quality of life BL Adults with Refractory Migraine ≥6 Days/Month (N ≈ 330) Screening En
Slide 40: EVO301: IL-18BP Fusion Protein
EVO301: IL-18BP Fusion Protein Long-Acting Serum Albumin-Binding Injectable Therapeutic Fusion Protein Designed to Neutralize IL-18 Signaling © Evommune, Inc.
Slide 41: IL-18 Immune Rebalancing
IL-18 Immune Rebalancing: Modulate Innate and Adaptive Inflammation for Potential Disease Remission © Evommune, Inc. PAMPs: Pathogen-associated molecular patterns; DAMPs: Damage-associated molecular patterns Chronic Inflammation Tissue Pathophysiology Clinical Manifestations Inflammatory Infiltrates
Slide 42: EVO301: Long-Acting IL-18 Neutralizer
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 © Evommune, Inc. SAFA - Anti-Serum Albumin Fab-Associated. HSA – Human Serum Albumin SAFABODY™ is a trademark of AprilBio Co., Ltd. Free IL-18 I
Slide 43: EVO301 Addresses Limitations of Existing Biologics
Biologic Pathway Adaptive Inflammation Innate Inflammation Skin Barrier (IL-22) TH2 TH1 TH17 IL-18 DUPIXENT® EBGLYSS® ADBRY® NEMLUVIO® EVO301 Addresses Limitations of Existing Biologics; Demonstrating Ability to Impact Multiple Drivers of AD, while being Well Tolerated © Evommune, Inc. Green = impac
Slide 44: EVO301 Phase 2a Proof of Concept Trial Design
EVO301 Phase 2a Proof of Concept Trial Design © Evommune, Inc. EASI = Eczema Area and Severity Index; vIGA = Validated Investigator Global Assessment; BSA = Body Surface Area; BL = Baseline; PBO = Placebo. Trial identifier: NCT06723405 Screening Randomization 2 Active : 1 PBO End of Trial BL W12 W4
Slide 45: EVO301 Achieved the Primary Endpoint
EVO301 Achieved the Primary Endpoint Phase 2a Proof-of-Concept Trial in Moderate-to-Severe Atopic Dermatitis Highly statistically significant EASI reductions at weeks 4, 8, and 12 versus placebo 34% and 33% placebo adjusted improvement in EASI at week 8 and 12, respectively 23% of patients achieved
Slide 46: Disposition, Baseline Demographics and Disease Characteristics
Disposition, Baseline Demographics and Disease Characteristics © Evommune, Inc. Note: Numbers in parentheses are standard deviations. BMI: body mass index, EASI: Eczema Area and Severity Index, IGA: Investigator’s global assessment, NRS: numeric rating score, BSA: body surface area, SD: standard dev
Slide 47: Phase 2a Trial in AD Met Primary Outcome Measure
Phase 2a Trial in AD Met Primary Outcome Measure (Bayesian) EASI: Eczema Area and Severity Index, SD: standard deviation, HPD: high posterior density % Change in EASI at Week 12: Protocol Success Criterion Met Statistic EVO301 versus Placebo Success Criterion: Posterior Probability of Difference < -
Slide 48: Statistically Significant Efficacy Across Time Points
Phase 2a Trial in AD Demonstrated Statistically Significant Efficacy Across Time Points EASI: Eczema Area and Severity Index % Change in EASI by Study Visit Visit EVO301 Placebo Placebo-adjusted Change p-value Week 4 -41 -18 -23 <0.01 Week 8 -50 -16 -34 <0.01 Week 12 -55 -22 -33 <0.01 © Evommune, In
Slide 49: Statistically Significant Efficacy Across Time Points (Chart)
Week 2 Phase 2a Trial in AD Demonstrated Statistically Significant Efficacy Across Time Points © Evommune, Inc. Week 0 Week 4 Week 8 Week 12 % Average Change in EASI ↓ Dosed at Weeks 0 and 4 Placebo EVO301 * * % Change in EASI by Study Visit *p<0.01 ↓ % Average change in EASI is LS Mean -22 -18 -16
Slide 50: Two Doses of EVO301 Comparable to Marketed Biologics
IL-18 IL-31 IL-13 IL-4 / IL-13 Two Doses of EVO301 Demonstrated Comparable Activity at 12 Weeks to Dose-Optimized Marketed Biologics at 16 Weeks © Evommune, Inc. For illustrative purposes only. Not a head-to-head comparison. Differences exist between trial designs and study characteristics, and caut
Slide 51: Early Clinical Signal in vIGA 0/1 Response
↑ Week 0 ↑ Week 4 Week 8 Week 12 vIGA Response Phase 2a Trial in AD: Early Clinical Signal in vIGA 0/1 Response © Evommune, Inc. vIGA: Validated Investigator’s Global Assessment Visit EVO301 Placebo Week 4 4.2% 0% Week 8 12.5% 0% Week 12 22.9% 0% vIGA Response (≥2-point improvement and a score of 0
Slide 52: Safety Summary
Safety Summary Over 12 Week Trial Period EVO301 Was Well Tolerated © Evommune, Inc. No Clinically Significant Lab Abnormalities. No Conjunctivitis Reported (as is Common with Other Biologics in AD) EVO301 Placebo Total N=48 N=22 N=70 Patients with ≥1 Adverse Event (AE) 30 (62.5%) 16 (72.7%) 46 (65.7
Slide 53: EVO301 Subcutaneous Formulation Exposure Consistent with IV
EVO301 Subcutaneous Formulation Exposure Consistent with IV © Evommune, Inc. Comparable Nonclinical Serum Exposure Key PK Parameters Parameters 10 mg/kg (N = 3/group) Intravenous (IV) Subcutaneous (SC) Cmax (mg/mL) 343 90 AUC (mg•hr/mL) ~27,000 ~27,000 Tmax (hr) 0.83 72 T1/2 (hr) 101 168 0.1 1.0 10.
Slide 54: Planned EVO301 Phase 2b Dose-Ranging Trial in AD
5v Planned EVO301 Phase 2b Dose-Ranging Trial in AD Trial Initiation Expected Mid-2027 © Evommune, Inc. EASI = Eczema Area and Severity Index; vIGA = Validated Investigator Global Assessment; Pruritus-NRS = Pruritus Numerical Rating Scale; BSA = Body Surface Area; BL = Baseline, QoL = Quality of Lif
Slide 55: Evommune Could Reshape the Future of AD
Evommune Could Reshape the Future of AD: The Largest I&I Market Expansion of AD Market Outpacing That of Psoriasis © Evommune, Inc. Per Evaluate Pharma (May represent projections and not actual sales); “Year 1” for AD represents 2017 (year of Dupixent launch); “Year 1” for Psoriasis represents 2004
Slide 56: EVO301 Could Command Substantial Share in the AD Market
EVO301 Could Command Substantial Market Share in the Potentially $50B+ AD Market as a Clearly Differentiated Biologic © Evommune, Inc. Sales from Evaluate Pharma may represent projections. 1. At maintenance. 2. From ’25-’26. Sales in $M Class Route of Administration1 Launch Year 2025 WW Sales 2025 U
Slide 57: EBGLYSS and NEMLUVIO Projected for $2.5B+ Global Sales
Both EBGLYSS and NEMLUVIO, Launched in 2024, Projected for $2.5B+ Global Sales EBGLYSS and NEMLUVIO Outpacing Psoriasis Launches, Highlighting Need for New Options in AD © Evommune, Inc. Sources: IQVIA, based on New to Brand prescriptions. 1 2 3 4 5 6 7 8 9 10 11 12 Months Post-Launch U.S. Monthly T
Slide 58: Novel MoAs Enable Treatment Across AD Patient Journey
IL-18BP Evommune Could Reshape the Future of AD: The Largest I&I Market Novel MoAs Enable Treatment Across AD Patient Journey and Severity Spectrum Topical Therapies MRGPRX2 Inhibitors EVO756 and EVO301 Have Synergistic Potential to Address Different Segments of the AD Landscape An AD Patient’s Trea
Slide 59: Company Overview
Company Overview © Evommune, Inc.
Slide 60: Proven and Experienced Leadership Team
Luis Peña Founder, President & CEO Eugene Bauer, MD Founder, CMO Kyle Carver, MBA CFO Greg Moss, Esq CBO & CLO Jeegar Patel, PhD CSO Janice Drew, MPH Chief of Development Operations Lou Sehl, PhD SVP, Technical Operations Daniel Burge, MD SVP, Clinical Development Leadership in >25 Companies Key Rol
Slide 61: Company Summary
Mid-stage clinical company developing novel therapeutics for immune-mediated chronic inflammatory diseases Two programs in Phase 2: EVO756 (oral MRGPRX2 antagonist) in chronic spontaneous urticaria and atopic dermatitis, with migraine trial planned for mid-2026 EVO301 (long-acting IL-18bp fusion pro
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