Evotec Secures $100m Windfall and New Board Chairman in Pivotal Week
12.06.2026 - 18:17:03 | boerse-global.de
Evotec entered a pivotal chapter this week as shareholders approved a new supervisory board chairman and a $100m cash injection landed from the sale of one of its portfolio companies. The dual developments come at a critical juncture for the Hamburg-based drug discovery group, which is deep in a restructuring programme and reviewing its strategic options.
At Thursday’s annual meeting in Hamburg, Dieter Weinand was elected to chair the supervisory board, succeeding Iris Löw-Friedrich. Wolfgang Hofmann also joined the panel as a new member, while Duncan McHale and Wesley Wheeler were re-elected. Some 43% of the voting capital was represented at the gathering, and the broad support for the slate was interpreted by market observers as a vote of confidence in the company’s direction.
The leadership change coincided with the completion of Gilead Sciences’ acquisition of Tubulis, an antibody-drug conjugate developer. Evotec held a 3.14% stake in Tubulis through its ventures arm and had participated in a €128m Series B2 round as recently as March 2024. The deal delivers approximately $100m in upfront proceeds to Evotec, with a further $58m in potential milestone payments. It marks the fourth successful monetisation from the company’s investment portfolio.
That cash cushion arrives as Evotec executes its Horizon restructuring plan, which aims to shrink the global footprint to ten sites. The first quarter of 2026 already saw restructuring provisions of €75m, largely for severance and asset impairments, while liquidity stood at €444.8m at the period end. By the close of 2027, management targets structural savings of around €75m, with 20% to 30% of that expected to hit the bottom line this year.
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The financial pressure was visible in the first-quarter numbers. Revenue fell 22% to €156.6m, and the net loss ballooned to €121.9m – a 286% jump from the prior-year quarter, driven largely by the absence of a one-off licensing fee from the Sandoz contract that had boosted Q1 2025. Nonetheless, Evotec held its full-year guidance, forecasting revenue of €700m to €780m and adjusted EBITDA ranging from zero to €40m.
Alongside the cost-cutting drive, the company is running a broader strategic review at the group level, with Morgan Stanley and Moelis & Company advising on portfolio positioning, capital structure and long-term ownership. No timeline has been set, and no decision on a transaction has yet been taken.
On the stock market, the shares closed at €4.77 on Thursday, up about 4% over the past 30 days but still down roughly 14% year to date and some 37% over the past twelve months. That leaves the stock nearly 39% below its 52-week high of €7.75 and below the 50-day moving average of €5.03. With annualised volatility of 46%, the paper remains a high-risk play.
Evotec at a turning point? This analysis reveals what investors need to know now.
Much now hinges on whether the strategic review yields a transformation that matches the cost cuts, and whether the newly constituted board can give management the backing it needs to lift the shares back above that €5 threshold.
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