FRANKFURT (dpa-AFX) - Evotec's share price was only moderately driven by progress in a research collaboration on Wednesday. After an early, more than four percent jump in the share price to 9.255 euros, the shares of the pharmaceutical drug researcher and developer recently maintained a gain of only half a percent to 8.92 euros. After an early attempt to break out, they slipped back into the consolidation range of the past few days.

At the end of May, the shares reached their lowest level since March 2017 at EUR 8.275. Since the beginning of the year, the share price has fallen by 58%. Evotec's share price last fell sharply towards the end of April after the company spooked investors with figures and a cautious outlook. At the beginning of the year, the surprising departure of long-time CEO Werner Lanthaler had already caused upheaval. The shares have still not been able to recover from this.

Evotec announced on Wednesday that important scientific progress had been made within the neurology partnership with Bristol Myers Squibb. As a result, the company will receive a payment of 20 million US dollars from the US pharmaceutical company. According to Evotec, the partnership has been in place since 2016 and aims to identify disease-modifying treatments for a broad range of neurodegenerative diseases./gl/tih/stk