Evommune has set IPO pricing after filing to raise around $150 million, aiming to fund development of two Phase 2 programs targeting mast‑cell and IL‑18 pathways. The company said it will use proceeds to advance EVO756 (an oral MRGPRX2 antagonist) and EVO301 (an IL‑18 neutralizing fusion protein) with readouts expected in 2026. The IPO follows recent private and public market activity in inflammation and immunology biotech and comes as investors show renewed appetite for clinical‑stage companies. Evommune cited positive Phase 2 signals in chronic spontaneous urticaria and plans further midstage studies. Pricing the offering positions Evommune to complete larger registrational studies if Phase 2 data confirm efficacy; the company noted potential timing risks related to ongoing regulatory and market conditions.