Evommune, a clinical‑stage inflammation biotech with late‑stage data in chronic inducible urticaria, priced an initial public offering for approximately $150 million and began trading on the NYSE. The IPO closed amid a federal government shutdown that complicated customary SEC timelines, but Evommune executed a go‑public strategy intended to fund further development of its lead candidates. The offering underscores continued investor appetite for differentiated inflammation and immunology assets despite broader market volatility. Clarification: IPO proceeds commonly fund clinical development, manufacturing scaleup and working capital for biotech companies.