Why Evotec (EVO) Shares Are Falling Premarket Today - Evotec (NASDAQ:EVO)

Evotec SE's EVO subsidiary, Just - Evotec Biologics Inc, has expanded a multi-year partnership with Alpine Immune Sciences Inc ALPN for ALPN-303 for systemic lupus erythematosus and other B cell-mediated inflammatory and autoimmune diseases.
The contract is a continuation of their first-in-human program initiated in 2020, in which Just - Evotec Biologics delivered drug substance materials using their J.DESIGN continuous manufacturing platform for Alpine's ongoing Phase 1 study and anticipated Phase 2 studies of ALPN-303.
Related: Alpine Immune Sciences' Autoimmune Disease Candidate ALPN-303 Shows Promise in Preclinical Studies.
Under the expanded contract, Just - Evotec Biologics will leverage its data-driven technology platform to develop a commercial manufacturing process for ALPN-303.
Commercial process development activities will be performed at Just - Evotec Biologics' J.POD biomanufacturing facility in Redmond, Washington.
Price Action: EVO shares are down 12.7% at $12.33 during the premarket session on the last check Wednesday. ALPN stock closed at $8.49 on Tuesday.

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Evotec, Alpine Expand Pact For Commercial Process Development Of Autoimmune Disease Candidate