Evommune Inc 2025年度报告

(Mark One)ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year ended December 31, 2025ORTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THETRANSITION PERIOD FROMTOCommission File Number 001-42938Evommune, Inc.(Exact name of Registrant as specified in its Charter)Delaware85-0742575(State or other jurisdiction ofincorporation or organization)(I.R.S. EmployerIdentification No.)1841 Page Mill Road, Suite 100Palo Alto, CA94304(Address of principal executive offices)(Zip Code)(925) 247-4481(Registrant’s telephone number, including area code)Securities registered pursuant to Section 12(b) of the Act:Title of each classTrading Symbol(s)Name of each exchange on which registeredCommon stock, par value $0.0001 per shareEVMNNew York Stock ExchangeSecurities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YESNO Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. YESNO Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). YESNO Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company.See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financialaccounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financialreporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correctionof an error to previously issued financial statements. Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of theregistrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YESNO The registrant was not a public company as of June 30, 2025, the last business day of its most recently completed second fiscal quarter, and therefore, cannot calculate theaggregate market value of its voting and non-voting common equity held by non-affiliated as of such date. The registrant's common stock began trading on the New York StockExchange on November 6, 2025. The number of shares of Registrant’s Common Stock outstanding as of March 3, 2026 was 36,018,372. Documents Incorporated by Reference Portions of the Registrant’s definitive proxy statement relating to its 2026 annual meeting of stockholders to be filed pursuant to Regulation 14A with the Securities and ExchangeCommission are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated. Such proxy statement will be filed with the Securities and ExchangeCommission within 120 days following the end of the Registrant’s fiscal year ended December 31, 2025. Table of Contents PART I Item 1.BusinessItem 1A.Risk FactorsItem 1B.Unresolved Staff CommentsItem 1C.CybersecurityItem 2.PropertiesItem 3.Legal ProceedingsItem 4.Mine Safety Disclosures PART II Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases ofEquity Securities125Item 6.[Reserved]Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations126Item 7A.Quantitative and Qualitative Disclosures About Market Risk137Item 8.Financial Statements and Supplementary Data137Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure137Item 9A.Controls and Procedures137Item 9B.Other Information137Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections137 PART III Item 10.Directors, Executive Officers and Corporate Governance138Item 11.Executive Compensation138Item 12.Security Ownership of Certain Beneficial Owners and Management and Related StockholderMatters138Item 13