Evotec Receives $5M Milestone Payment from Bristol Myers Following FDA Approval of New Drug Application
Written by Emily J. Thompson, Senior Investment Analyst
Source: SeekingAlpha
Milestone Payment: Evotec SE has received a $5 million milestone payment from Bristol Myers Squibb following the FDA's acceptance of an investigational new drug application related to their partnership.
Drug Development: The drug candidate, a cereblon E3 ligase modulator, is set to enter Phase 1 clinical trials in 2026 as part of the collaboration between Evotec and Bristol Myers Squibb.
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Analyst Views on EVO
Wall Street analysts forecast EVO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for EVO is 6.00 USD with a low forecast of 5.00 USD and a high forecast of 7.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
2 Buy
0 Hold
1 Sell
Moderate Buy
Current: 3.780
Low
5.00
Averages
6.00
High
7.00
Current: 3.780
Low
5.00
Averages
6.00
High
7.00
About EVO
Evotec SE is a Germany-based drug discovery and development company. The company is engaged in development of new pharmaceutical products through research alliances and development partnerships with pharmaceutical and biotechnology companies, academic institutions, patient organizations and venture capital companies. The drug discovery solutions are provided in the form of fee-for-service work, integrated drug discovery alliances, development partnerships, licensing of drug candidates and consulting arrangements. Evotec SE operates in a number of areas, including neuroscience, diabetes and complications of diabetes, pain and inflammation, oncology, infectious diseases, respiratory diseases and fibrosis. Its pipeline covers a range of therapeutic areas, such as CNS Insomnia, Chronic cough, immunology & inflammation, women’s health endometriosis, nephrology, dermatological diseases, fibrotic disease and antiviral, among others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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