Evommune, an inflammation-focused biotech, priced a $150 million initial public offering as investors showed appetite for select clinical-stage immunology names despite a constrained IPO environment. The company said proceeds will fund development of its clinical-stage candidates, including an oral asset with Phase II data in chronic inducible urticaria. Evommune’s shares opened strongly and the offering came during a period of atypical market activity — the biotech priced while a U.S. government shutdown influenced traditional SEC processes. Company executives said the raise extends runway into critical clinical milestones and will support regulatory and commercialization planning. The IPO signals investor willingness to back differentiated clinical data; market watchers will track Evommune’s execution on trial endpoints and whether the financing trend sustains for others in the immunology space.