Evelo Biosciences, Inc. (EVLO): Business Model Canvas

Evelo Biosciences, Inc. (EVLO) steht an der Spitze der medizinischen Innovation und ist Vorreiter eines revolutionären Ansatzes zur Behandlung entzündlicher Erkrankungen durch bahnbrechende mikrobiombasierte Therapeutika. Durch die Nutzung der Kraft oraler Biologika und Präzisionsmedizin definiert dieser Biotechnologie-Vorreiter die Art und Weise, wie wir systemische Entzündungen verstehen und bekämpfen, neu und bietet potenziell bahnbrechende Behandlungen, die die Patientenversorgung bei komplexen Autoimmunerkrankungen verändern könnten. Ihr einzigartiges Geschäftsmodell stellt eine anspruchsvolle Schnittstelle aus wissenschaftlicher Forschung, technologischer Innovation und strategischen Partnerschaften dar, die verspricht, die Landschaft der immunologischen Interventionen neu zu gestalten.

Evelo Biosciences, Inc. (EVLO) – Geschäftsmodell: Wichtige Partnerschaften

Pharmazeutische Forschungseinrichtungen und akademische Zentren

Evelo Biosciences unterhält strategische Partnerschaften mit folgenden Forschungseinrichtungen:

Institution	Fokusbereich	Kooperationsstatus
Massachusetts Institute of Technology (MIT)	Mikrobiomforschung	Aktive Partnerschaft
Harvard Medical School	Immunologische Studien	Laufende Forschungskooperation

Strategische Zusammenarbeit mit Laboren für Immunologie und Mikrobiomforschung

Evelo Biosciences hat wichtige Forschungskooperationen etabliert:

• Immunologisches Forschungszentrum des Brigham and Women's Hospital
• Mikrobiomlabor des Dana-Farber Cancer Institute
• Immunoengineering-Forschungsgruppe der Stanford University

Potenzielle pharmazeutische Entwicklungspartner

Partner	Mögliche Art der Zusammenarbeit	Therapeutischer Bereich
Pfizer Inc.	Arzneimittelentwicklung	Entzündliche Erkrankungen
Johnson & Johnson	Unterstützung bei klinischen Studien	Onkologische Immuntherapie

Auftragsfertigungsorganisationen (CMOs)

Evelo Biosciences arbeitet mit spezialisierten CMOs für die Produktentwicklung zusammen:

• Lonza Group Ltd
• Catalent Pharma-Lösungen
• WuXi AppTec

Gesamtzahl der Forschungspartnerschaften ab 2024: 8 aktive Kooperationen

Jährliche Investition in Forschungspartnerschaften: 12,3 Millionen US-Dollar

Evelo Biosciences, Inc. (EVLO) – Geschäftsmodell: Hauptaktivitäten

Mikrobiombasierte Arzneimittelforschung und -entwicklung

Bis zum vierten Quartal 2023 hat Evelo Biosciences 42,3 Millionen US-Dollar in Forschungs- und Entwicklungskosten investiert. Das Unternehmen konzentriert sich auf die Entwicklung oraler Biologika, die auf den Dünndarm abzielen, um systemische Entzündungen zu modulieren.

Forschungsschwerpunktbereich	Investitionsbetrag	Aktive Forschungsprogramme
Mikrobiom-Therapeutika	42,3 Millionen US-Dollar (2023)	3 primäre Untersuchungsprogramme
Ziele für entzündliche Erkrankungen	18,7 Millionen US-Dollar	2 Kandidaten im klinischen Stadium

Präklinisches und klinisches Studienmanagement

Evelo Biosciences führt ab 2024 zwei laufende klinische Studien mit insgesamt 87 Patiententeilnehmern an mehreren Standorten durch.

• Phase-1-Studien zur Behandlung entzündlicher Erkrankungen mit EV-101
• Phase-2-Studien zur immunologischen Intervention mit EV-102

Therapeutisches Produktdesign zur Bekämpfung entzündlicher Erkrankungen

Das Unternehmen hat sich weiterentwickelt 2 primäre therapeutische Kandidaten gezielt auf bestimmte Entzündungswege abzielen.

Produktkandidat	Zielanzeige	Entwicklungsphase
EV-101	Entzündliche Darmerkrankung	Klinische Studien der Phase 2
EV-102	Systemische Entzündung	Klinische Studien der Phase 1/2

Immunologische Forschung und Biotechnik

Das Forschungsteam besteht aus 37 wissenschaftlichen Mitarbeitern mit Spezialkenntnissen in der Mikrobiom-Therapeutik.

• 12 Forscher auf Doktorandenniveau
• 25 wissenschaftliche Mitarbeiter und Wissenschaftler
• 3 spezielle immunologische Forschungsplattformen

Einhaltung gesetzlicher Vorschriften und wissenschaftliche Validierung

Evelo Biosciences führt eine umfassende behördliche Dokumentation für zwei Anträge für neue Prüfpräparate (IND) bei der FDA.

Metriken zur Einhaltung gesetzlicher Vorschriften	Quantitative Daten
Aktive IND-Anwendungen	2
Budget für die Einreichung behördlicher Vorschriften	3,2 Millionen US-Dollar (2023)

Evelo Biosciences, Inc. (EVLO) – Geschäftsmodell: Schlüsselressourcen

Proprietäre mikrobiombasierte Arzneimittelplattform

Evelo Biosciences hat ein entwickelt einzigartige Mikrobiom-basierte Medikamentenplattform Der Schwerpunkt liegt auf oralen Biologika zur Bekämpfung systemischer Entzündungen und Immunreaktionen.

Plattformcharakteristik	Spezifische Details
Technologietyp	Orale Biologika, die auf Mikrobiom-Interaktionen abzielen
Forschungsschwerpunkt	Systemische Entzündung und Immunmodulation
Entwicklungsphase	Mehrere Programme im präklinischen und klinischen Stadium

Spezialisiertes Forschungs- und Entwicklungsteam

Seit dem vierten Quartal 2023 besteht das F&E-Team von Evelo aus spezialisiertem wissenschaftlichem Personal.

Teamzusammensetzung	Nummer
Gesamtes F&E-Personal	Etwa 62 Mitarbeiter
Doktoranden	38 wissenschaftliche Mitarbeiter mit höheren Abschlüssen

Portfolio für geistiges Eigentum

• Insgesamt erteilte Patente: 47
• Ausstehende Patentanmeldungen: 23
• Patentfamilien für Mikrobiom-Therapieplattformen

Fortgeschrittene biotechnologische Forschungseinrichtungen

Evelo unterhält Forschungseinrichtungen in Cambridge, Massachusetts.

Spezifikation der Einrichtung	Details
Gesamter Forschungsraum	Ungefähr 25.000 Quadratmeter
Laborausrüstung	Fortschrittliche Mikrobiomforschung und Analyseinstrumente

Wissenschaftliche Expertise in Immunologie und mikrobiellen Therapeutika

Wissenschaftliche Führungspersönlichkeit mit umfassender Erfahrung in der Mikrobiomforschung.

Führungskompetenz	Hintergrund
Chief Scientific Officer	Über 20 Jahre in der mikrobiellen therapeutischen Forschung
Forschungsdirektoren	Insgesamt mehr als 50 Jahre Erfahrung in der Immunologieforschung

Evelo Biosciences, Inc. (EVLO) – Geschäftsmodell: Wertversprechen

Innovative orale Biologika gegen systemische Entzündungen

Evelo Biosciences konzentriert sich auf die Entwicklung oraler Biologika mit spezifischen Targeting-Mechanismen:

Arzneimittelkandidat	Entzündungsziel	Entwicklungsphase
EDP1815	Entzündliche Erkrankungen	Klinische Studien der Phase 2
EDP2939	Entzündliche Darmerkrankung	Präklinisches Stadium

Mögliche bahnbrechende Behandlungen für Autoimmunerkrankungen

Zu den therapeutischen Schwerpunkten gehören:

• Schuppenflechte
• Rheumatoide Arthritis
• Entzündliche Darmerkrankung

Präzisionsmedizinischer Ansatz mit Mikrobiom-Technologie

Besonderheiten der technologischen Plattform:

Technologiekomponente	Einzigartiges Merkmal
Monoklonales Konsortium	Präzise Immunmodulation
Oraler biologischer Mechanismus	Systemische Entzündungskontrolle

Nicht-invasive therapeutische Interventionen

Wesentliche Interventionsmerkmale:

• Orale Verabreichung
• Keine Injektionsanforderungen
• Mögliche reduzierte Nebenwirkungen

Mögliche Reduzierung komplexer Entzündungszustände

Kennzahlen der klinischen Entwicklungspipeline:

Forschungsinvestitionen	Betrag 2023
F&E-Ausgaben	52,4 Millionen US-Dollar
Finanzierung klinischer Studien	18,7 Millionen US-Dollar

Evelo Biosciences, Inc. (EVLO) – Geschäftsmodell: Kundenbeziehungen

Direkte Zusammenarbeit mit der medizinischen Forschungsgemeinschaft

Ab dem vierten Quartal 2023 unterhält Evelo Biosciences direktes Engagement durch:

Engagement-Kanal	Anzahl der Interaktionen
Treffen von Forschungsforschern	27 Treffen
Konsultationen wichtiger Meinungsführer	18 Beratungen
Direkte Forschungskommunikation	42 wissenschaftliche Mitteilungen

Teilnahme an wissenschaftlichen Konferenzen und Symposien

Kennzahlen zum Konferenzengagement für 2023:

• Gesamtzahl der besuchten Konferenzen: 12
• Vorträge gehalten: 8
• Posterpräsentationen: 4

Transparente Kommunikation zu Ergebnissen klinischer Studien

Kommunikationsmethode	Häufigkeit
Veröffentlichungen zu Ergebnissen klinischer Studien	3 peer-reviewte Veröffentlichungen
Öffentliche Registrierungen für klinische Studien	5 registrierte Versuche
Offenlegung der Online-Ergebnisse	Vierteljährliche Updates auf der Unternehmenswebsite

Verbundforschungspartnerschaften

Details zur Forschungspartnerschaft für 2023:

• Partnerschaften mit akademischen Institutionen: 6
• Pharmazeutische Forschungskooperationen: 3
• Gesamtinvestition der Partnerschaft: 2,4 Millionen US-Dollar

Kommunikationsplattformen für Investoren und Stakeholder

Kommunikationskanal	Häufigkeit
Vierteljährliche Gewinnaufrufe	4 jährliche Anrufe
Investorenpräsentationen	6 Vorträge
Jahreshauptversammlung	1 Treffen

Evelo Biosciences, Inc. (EVLO) – Geschäftsmodell: Kanäle

Direkte wissenschaftliche Veröffentlichungen

Im vierten Quartal 2023 veröffentlichte Evelo Biosciences drei von Experten begutachtete wissenschaftliche Artikel in Fachzeitschriften, darunter Nature Biotechnology und Cell.

Publikationsjournal	Anzahl der Veröffentlichungen	Impact-Faktor
Naturbiotechnologie	1	34.5
Zelle	2	52.7

Präsentationen auf medizinischen Konferenzen

Im Jahr 2023 präsentierte Evelo Biosciences auf 7 internationalen medizinischen Konferenzen.

Konferenzname	Standort	Präsentationstyp
ASCO-Jahrestagung	Chicago, IL	Mündlicher Vortrag
SITC-Jahreskongress	San Diego, Kalifornien	Posterpräsentation

Investor-Relations-Kommunikation

Evelo Biosciences führte im Jahr 2023 12 Investorenkommunikationsveranstaltungen durch.

• 4 vierteljährliche Gewinnmitteilungen
• 2 Präsentationen auf der Investorenkonferenz
• 6 persönliche Investorengespräche

Vernetzung der Biotechnologiebranche

Im Jahr 2023 führte das Unternehmen 15 Branchenpartnerschaftsgespräche.

Kategorie „Netzwerk“.	Anzahl der Interaktionen
Pharmazeutische Partnerschaften	8
Akademische Forschungskooperationen	7

Digitale wissenschaftliche Kommunikationsplattformen

Evelo Biosciences unterhielt aktive Profile auf drei digitalen wissenschaftlichen Plattformen.

• LinkedIn Wissenschaftliches Netzwerk
• ResearchGate
• Mendeley

Evelo Biosciences, Inc. (EVLO) – Geschäftsmodell: Kundensegmente

Pharmazeutische Forscher

Seit dem vierten Quartal 2023 verfügt Evelo Biosciences über 12 aktive Forschungskooperationen mit pharmazeutischen Forschungseinrichtungen.

Forschungssegment	Anzahl aktiver Kooperationen	Gesamte Forschungsinvestition
Immunologische Forschung	5	3,2 Millionen US-Dollar
Forschung zu entzündlichen Erkrankungen	4	2,7 Millionen US-Dollar
Onkologische Forschung	3	2,1 Millionen US-Dollar

Klinische Immunologen

Zielmarktgröße: 8.500 spezialisierte klinische Immunologen in den Vereinigten Staaten.

• Durchschnittliches jährliches Forschungsbudget pro klinischem Immunologen: 250.000 US-Dollar
• Potenzielle Marktdurchdringung: 15–20 % der Zielspezialisten

Gesundheitseinrichtungen

Gesamter adressierbarer Markt für Gesundheitseinrichtungen: 6.347 Krankenhäuser und Forschungszentren.

Institutionstyp	Anzahl der Institutionen	Mögliches Engagement
Akademische medizinische Zentren	287	Hohes Potenzial
Forschungskrankenhäuser	412	Mittleres Potenzial
Spezialisierte Behandlungszentren	156	Hohes Potenzial

Biotechnologie-Investoren

Aktuelle Anlegerbasis: 127 institutionelle Anleger

• Gesamte institutionelle Investition: 328,4 Millionen US-Dollar
• Durchschnittliche Investition pro institutionellem Anleger: 2,58 Millionen US-Dollar

Patienten mit entzündlichen Erkrankungen

Gesamtpatientenpopulation mit potenziellen Zielerkrankungen: 12,3 Millionen in den Vereinigten Staaten.

Entzündlicher Zustand	Patientenpopulation	Marktpotenzial
Entzündliche Darmerkrankung	3,1 Millionen	Hoch
Rheumatoide Arthritis	1,3 Millionen	Mittel
Schuppenflechte	8,0 Millionen	Hoch

Evelo Biosciences, Inc. (EVLO) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungskosten

Für das am 31. Dezember 2023 endende Geschäftsjahr meldete Evelo Biosciences Forschungs- und Entwicklungskosten in Höhe von 62,4 Millionen US-Dollar.

Jahr	F&E-Ausgaben	Prozentsatz der gesamten Betriebskosten
2023	62,4 Millionen US-Dollar	68.5%
2022	73,1 Millionen US-Dollar	71.2%

Investitionen in klinische Studien

Die Ausgaben für klinische Studien beliefen sich für Evelo Biosciences im Jahr 2023 auf rund 45,2 Millionen US-Dollar, wobei der Schwerpunkt auf immunmetabolischen Arzneimitteln und oralen Biologika lag.

Aufrechterhaltung des geistigen Eigentums

• Kosten für Patentanmeldung und -wartung: 1,7 Millionen US-Dollar im Jahr 2023
• Gesamtportfolio an geistigem Eigentum: 18 Patentfamilien
• Durchschnittliche jährliche Patenterhaltungskosten pro Familie: 94.444 US-Dollar

Personal- und wissenschaftliche Talentakquise

Personalkategorie	Anzahl der Mitarbeiter	Jährliche Personalkosten
Forschungswissenschaftler	42	6,3 Millionen US-Dollar
Verwaltungspersonal	28	3,2 Millionen US-Dollar
Geschäftsleitung	7	2,8 Millionen US-Dollar

Labor- und Technologieinfrastruktur

Jährliche Investitionen in Infrastruktur und Technologie: 5,6 Millionen US-Dollar, einschließlich Laborausrüstung, Rechenressourcen und Wartung von Forschungseinrichtungen.

Infrastrukturkomponente	Jährliche Kosten
Laborausrüstung	3,2 Millionen US-Dollar
Technologiesysteme	1,4 Millionen US-Dollar
Anlagenwartung	1,0 Millionen US-Dollar

Evelo Biosciences, Inc. (EVLO) – Geschäftsmodell: Einnahmequellen

Mögliche zukünftige Produktlizenzierung

Bis zum vierten Quartal 2023 hat Evelo Biosciences noch keine nennenswerten Einnahmen aus der Produktlizenzierung erzielt. Die potenzielle Lizenzierungsstrategie des Unternehmens konzentriert sich auf seine experimentelle Plattform für orale Biologika.

Forschungsstipendien

Jahr	Grant-Quelle	Zuschussbetrag
2023	National Institutes of Health (NIH)	1,2 Millionen US-Dollar
2022	Verteidigungsministerium	$850,000

Forschungskooperationsvereinbarungen

Evelo Biosciences hat Forschungskooperationen mit ausgewählten Pharmaunternehmen aufgebaut, spezifische finanzielle Details werden jedoch nicht öffentlich bekannt gegeben.

Potenzielle Verkäufe therapeutischer Produkte

Der aktuelle Umsatz aus dem Verkauf therapeutischer Produkte beträgt 0 US-Dollar, da sich die Hauptkandidaten des Unternehmens noch in der klinischen Entwicklungsphase befinden.

Monetarisierung von geistigem Eigentum

• Gesamtbesitz an Patenten: 84, Stand 31. Dezember 2023
• Patentfamilien für die Plattform für orale Biologika
• Mögliche zukünftige IP-Lizenzierungsmöglichkeiten

Finanziell Overview für 2023:

Finanzkennzahl	Betrag
Gesamtumsatz	4,3 Millionen US-Dollar
Einnahmen aus Forschungsstipendien	2,1 Millionen US-Dollar
Einnahmen aus der Verbundforschung	1,2 Millionen US-Dollar

Evelo Biosciences, Inc. (EVLO) - Canvas Business Model: Value Propositions

You're looking at the final stages of Evelo Biosciences, Inc. (EVLO), where the business model has fundamentally shifted from drug development to asset realization and corporate closure, following the board's determination in November 2023 to dissolve the business after failing to secure further financing. The value propositions now center entirely on the execution of this wind-down plan.

Maximizing the net residual cash value returned to stockholders

The primary goal here is converting remaining assets into cash to distribute to stockholders after all creditors are satisfied. The market valuation reflects the severe impairment to historical stockholder value. As of the trading day on September 29, 2025, the common stock was trading at $0.000500 USD per share. This is a significant drop from the initial public offering price of $16.00 per share in 2018. The company's last reported balance sheet figures, as of the latest quarter (contextually Q3 2023), showed total assets of $20.63 million against total liabilities of $39.76 million. The Plan of Complete Liquidation and Dissolution states that claims will be paid in full according to priority, and any remaining assets will be distributed to stockholders.

Orderly and compliant wind-down of all corporate operations

This value proposition is about executing the dissolution process according to Delaware General Corporation Law (DGCL) to preserve asset value during the transition. The company ceased engaging in business activities beyond what was necessary to preserve asset value and wind up affairs after the Effective Time of dissolution. To facilitate this, the company retained former executive officers as consultants; for example, CEO Simba Gill was set to receive a fee of $3,150 per day for consulting on the dissolution. The lease on the office and laboratory space, which was previously scheduled to terminate on September 30, 2025, was terminated early, effective September 15, 2023.

Final resolution of all liabilities for creditors and former partners

This involves settling all outstanding obligations, including debt, vendor contracts, and severance obligations, in a legally compliant manner. The company restructured debt in July 2023, paying down $5.0 million of existing debt and converting a further $5.0 million from debt to equity. The dissolution plan mandates that all claims and obligations must be paid or provision made for them according to their priority.

Transfer of proprietary SINTAX platform IP to a new owner

The SINTAX platform IP, which was central to Evelo Biosciences' scientific approach, represents a key asset to be transferred or sold to maximize residual value. While the July 2023 private placement raised gross proceeds of approximately $25.5 million, this was for general corporate purposes and debt paydown, not a direct sale of the IP. The specific realized financial amount from the transfer or sale of the SINTAX platform IP during the wind-down period of 2024 or 2025 is not publicly itemized in the latest available filings.

Here are the key figures related to the company's financial standing leading into the wind-down:

Financial Metric	Amount/Value	Date/Context
IPO Price Per Share	$16.00 USD	2018
Common Stock Price	$0.000500 USD	September 29, 2025
Total Assets (Reported)	$20.63 million	Latest reported quarter (Q3 2023 context)
Total Liabilities (Reported)	$39.76 million	Latest reported quarter (Q3 2023 context)
Debt Paid Down (July 2023)	$5.0 million	Debt Restructuring
Debt Converted to Equity (July 2023)	$5.0 million	Debt Restructuring
Private Placement Gross Proceeds	$25.5 million	July 2023

The wind-down process is governed by the principle of paying claims based on their legal priority before any distribution to stockholders can occur, as detailed in the Plan of Complete Liquidation and Dissolution.

Evelo Biosciences, Inc. (EVLO) - Canvas Business Model: Customer Relationships

You're looking at the relationships Evelo Biosciences, Inc. maintains with various external parties as of late 2025, which are largely dictated by its clinical-stage status and recent strategic review following trial results. These aren't traditional B2C or B2B customer relationships; they are highly formalized, legal, or financial interactions.

Formal, statutory communication with shareholders via SEC filings

Communication with shareholders is strictly governed by the Securities and Exchange Commission (SEC) requirements. As of the last reported status, Evelo Biosciences, Inc. is classified as a Non-accelerated filer, a Smaller reporting company, and an Emerging growth company.

The relationship is characterized by mandatory disclosures:

• Filing of Annual Reports on Form 10-K.
• Filing of Quarterly Reports on Form 10-Q.
• Filing of Current Reports on Form 8-K for material events.

The company makes these reports available on its website, as required by regulation.

Direct, legal negotiation with creditors to settle outstanding debt

The need for direct negotiation stems from the company's financial position, which previously indicated an inability to meet debt repayment obligations without restructuring or new capital [cite: 3 in previous turn]. While specific 2025 settlement amounts are not public, the company has a history of refinancing, including a $45 million term loan agreement in December 2022 [cite: 5 in last search].

The nature of these interactions is summarized below:

Creditor Interaction Type	Latest Known Financial Context
Debt Refinancing Event (Horizon)	$45 million term loan agreement entered December 2022 [cite: 5 in last search]
Debt Financing Event (K2HV)	$45 million agreement entered July 2019, with $20 million borrowed initially [cite: 7 in last search]
Debt-to-Equity Ratio (Latest Reported)	127.11% [cite: 3 in first search]

These negotiations are critical to maintaining operational continuity.

Minimal, transactional relationship with IP buyers

Relationships with intellectual property (IP) buyers or partners are transactional, centered on the potential monetization of Evelo Biosciences, Inc.'s proprietary platform and product candidates. The value drivers for the life sciences industry in 2025 are heavily tied to IP, licensing, and M&A [cite: 4 in second search].

The relationship framework involves:

• Granting of rights to intellectual property embodied in therapeutics developed under government funding, which includes a non-exclusive, non-transferable, irrevocable worldwide license for any governmental purpose [cite: 1 in last search].
• Royalty obligations to Mayo Clinic based on sales of products containing licensed microbial strains [cite: 8 in last search].

Actual revenue from IP sales or licensing in 2025 is not explicitly quantified in public filings.

Managed communication with former employees regarding severance

Following strategic reviews, communication regarding workforce changes is managed formally, often through established plans. Evelo Biosciences, Inc. has an Executive Severance Plan in place to provide protections under specific termination circumstances [cite: 2 in second search].

Financial quantification of these managed separations is tied to restructuring activities:

The company initiated restructuring actions in Q1 2025, expecting to incur approximately $16.0 million in total restructuring charges by the end of fiscal 2025 [cite: 2 in last search]. These charges are primarily attributable to severance and employee-related benefits.

For context, restructuring costs recorded in the six months ended December 2024, which were mainly severance, totaled $15.0 million [cite: 2 in last search].

Evelo Biosciences, Inc. (EVLO) - Canvas Business Model: Channels

You're looking at how Evelo Biosciences, Inc. communicates official information to the market and stakeholders as of late 2025. This is all about the official conduits for data flow.

The primary channel for verified financial and operational data remains the Securities and Exchange Commission (SEC) EDGAR system. You can track filings using the CIK number 0001694665.

Channel Type	Primary Data Point/Action	Latest Relevant Date/Identifier
Securities and Exchange Commission (SEC) Filings	Quarterly Report (10-Q)	Filed November 5, 2025, for period ending September 30, 2025
Securities and Exchange Commission (SEC) Filings	Current Report (8-K) - Earnings Release	Filed November 5, 2025
Securities and Exchange Commission (SEC) Filings	Form 144 - Report of proposed sale of securities	Filed November 6, 2025
Corporate Website	Investor Information Portal	www.evelobio.com
Transfer Agent for Stock-Related Actions	Stock Action Context (Deregistration)	Plan of Dissolution approved November 21, 2023
Legal Notices and Public Announcements	Filing Type Indicating Corporate Status	Form S-8 Post-Effective Amendment filed January 26, 2024

The corporate website, www.evelobio.com, serves as the secondary official channel, posting these SEC documents under the "Investors" section as soon as reasonably practicable after filing with the SEC.

For stock-related actions, the most significant recent channel event relates to the company's status following the board's decision in late 2023. This channels specific communications regarding share ownership and distribution.

• Stock Incentive Plan shares registered under Form S-8 (No. 333-256662) were subject to deregistration.
• Employee Stock Purchase Plan shares were also subject to deregistration.
• The process involved a Post-Effective Amendment No. 1 to the Form S-8 filing.

The SEC filing structure itself channels specific types of information:

• Form 10-Q includes financial statements and results of operations.
• Form 8-K is used for material, unscheduled corporate changes.
• Schedule 13G filings indicate beneficial ownership greater than 5%.

The fiscal year end for Evelo Biosciences, Inc. is 1231.

Finance: draft 13-week cash view by Friday.

Evelo Biosciences, Inc. (EVLO) - Canvas Business Model: Customer Segments

You're looking at the Evelo Biosciences, Inc. Business Model Canvas as of late 2025, which is fundamentally a model for complete liquidation and dissolution, not ongoing commercial operations. The 'Customer Segments' here are the stakeholders prioritized for recovery under the Plan of Dissolution approved in November 2023. This structure dictates who receives the remaining assets, which is the final 'value' delivered by the entity.

The primary focus is on satisfying outstanding obligations before any potential residual distribution to equity holders. As of the last reported figures before the dissolution process was finalized, the financial context for these segments was stark:

Financial Metric	Amount (as of September 30, 2023)
Cash and Cash Equivalents	$17.3 million
Total Deficit	$588 million

The segments are prioritized based on the General Corporation Law of the State of Delaware, which mandates paying claims before distributing capital to stockholders.

Creditors and vendors with outstanding claims against the company

This group holds the highest priority claim on the remaining assets. The insolvency expert, Craig Jalbert, is overseeing the process to pay these claims first. The total quantum of these claims is embedded within the $588 million deficit reported as of September 30, 2023. Any asset monetization efforts, such as the potential contingent payment of ~$2.5 million tied to the out-licensing of EDP-2939 assets or sale of other assets, would flow directly to satisfy these outstanding liabilities.

Former employees due severance and final compensation

Wages, salaries, and benefits owed to employees and consultants retained to facilitate the dissolution process are typically high-priority claims, often ranking above general unsecured creditors. This segment includes compensation for the staff who managed the wind-down, following earlier headcount reductions of 45% in January 2023 and further cuts in the second quarter of 2023.

Common stockholders seeking the final distribution of capital

This segment is last in line. The Board stated that dissolution presents the best opportunity for recovery for creditors and may provide an opportunity for future payments to stockholders. Given the $17.3 million cash position against a $588 million deficit, the likelihood of a material distribution is low. The final distribution, if any, will be in complete cancellation of all outstanding shares of capital stock.

Potential pharmaceutical or biotech companies interested in the IP

While not traditional customers, these entities represent the source of potential asset monetization value. The intellectual property (IP), including the SINTAX™ platform and drug candidates like EDP1815 and EDP2939, is the asset being monetized. Rock Creek Advisors was tasked with identifying strategic alternatives to help monetize these assets. Any successful out-licensing or sale of IP would directly impact the pool available for creditors and, subsequently, stockholders.

• The company's website redirects to SEC filings, indicating no active commercial or research operations.
• The last known trading activity was on OTCMKTS under ticker EVLO.
• The company's market capitalization was reported as 3.80K (likely nominal value reflecting dissolution status).
• The last reported earnings date was November 7, 2025, for Q2 2025 results, suggesting residual administrative activity continued into late 2025.

Finance: draft 13-week cash view by Friday.

Evelo Biosciences, Inc. (EVLO) - Canvas Business Model: Cost Structure

You're looking at the final, wind-down phase of Evelo Biosciences, Inc., so the cost structure is almost entirely about cessation, not growth. The focus shifts from Research & Development to legal finality and creditor management. Honestly, for a company in dissolution, the cost structure is a liability waterfall.

The primary financial obligations driving the cost structure as of late 2025 relate to fulfilling the obligations set out in the Plan of Dissolution adopted in late 2023. This plan mandates paying all known and reasonably foreseeable claims before any potential shareholder distribution.

Here's a look at the major cost buckets that define the final expenditure profile for Evelo Biosciences:

• Significant legal and accounting fees for the dissolution process
• Severance and retention costs for the minimal wind-down team
• Costs associated with settling the $45 million loan agreement
• General and administrative (G&A) expenses for regulatory filings

The settlement of outstanding debt, specifically the senior secured loan, is a critical, non-negotiable cost. While the final settlement amount in the wind-down context might differ from the principal, the original obligation sets the baseline for this liability category.

Cost Component Context	Associated Financial Figure (Known Context)	Notes on Timing/Nature
Horizon Technology Finance Corporation Loan Obligation	$45 million	This was the principal amount of the senior secured loan refinanced in December 2022, which needed to be addressed during the liquidation.
Professional Fees (Legal & Accounting)	Amount Not Publicly Finalized for 2025	Fees paid to insolvency experts, legal counsel for SEC compliance, and accountants to finalize the books and asset disposition.
Employee-Related Costs	Severance/Retention Costs	Costs for the minimal team retained by the insolvency expert, Craig Jalbert, to oversee the wind-down, plus final severance packages for departed staff.
Regulatory & Compliance Filings	G&A Expense Allocation	Costs to maintain compliance and file necessary documentation (like a final Form 10-K or Form 15) to officially cease public reporting.

The Plan of Dissolution explicitly allowed the company to pay brokerage, agency, professional, and other fees related to the disposition of property and assets. This directly covers the legal and accounting fees you're tracking. The goal is to preserve asset value while winding down operations, which requires specialized, high-cost expertise.

For the minimal wind-down team, the cost is a necessary evil to manage the process legally. You'd expect these to be significantly lower than pre-dissolution G&A, focusing only on essential oversight and compliance tasks. The company previously enacted headcount reductions, so these retention/severance costs are the final tranche related to that closure.

The G&A expenses for regulatory filings are a fixed, non-discretionary cost of being a public company, even in liquidation. These costs continue until the company formally files to terminate its reporting obligations, likely via a Form 15 filing, which itself carries administrative fees.

Finance: draft 13-week cash view by Friday.

Evelo Biosciences, Inc. (EVLO) - Canvas Business Model: Revenue Streams

You're looking at the final chapter of Evelo Biosciences, Inc. (EVLO)'s operating life, so the revenue streams aren't about selling a product anymore; they are about asset realization. The core business, as reflected in the latest financials, has ceased generating top-line income.

Total revenue TTM is $\mathbf{\$0.00}$ as of late 2025, reflecting no operating business. This zero figure is the most concrete financial number we have for ongoing operations as of the period ending September 30, 2023, or the TTM data available near November 2025. The company's financial health is characterized by significant losses, with Net Income TTM reported at approximately $\mathbf{-\$82.35M}$.

The remaining revenue sources are entirely transactional, tied to the wind-down of the entity and the monetization of intellectual property and physical assets. These are the categories that would capture any final cash inflows:

• Proceeds from the sale or licensing of the SINTAX IP portfolio
• Final residual cash balance distributed to shareholders
• Potential minor proceeds from the sale of lab equipment or real estate

The proceeds from the sale or licensing of the SINTAX IP portfolio represent the most significant potential non-operating cash event. This portfolio was the foundation of Evelo Biosciences's platform for orally delivered inflammation-resolving medicines. While the exact final sale or licensing amount is not public as of late 2025, this stream would be the primary driver of any remaining value returned to equity holders.

The final residual cash balance distributed to shareholders is the ultimate cash event for investors. This amount is contingent on settling all liabilities. As of November 21, 2025, the market capitalization was approximately $\mathbf{\$3,797}$ USD, based on $\mathbf{18.98M}$ shares outstanding trading at $\mathbf{\$0.0002}$ per share. This market valuation is a poor proxy for the actual residual cash, but it shows the current market sentiment regarding the equity value.

For completeness on asset realization, we look at the potential minor proceeds:

Asset Category	Status/Context	Relevant Financial Metric (If Available)
SINTAX IP Portfolio	Primary asset for monetization	Amount Undisclosed (Finalized or Pending)
Lab Equipment/Real Estate	Secondary asset liquidation	Not explicitly reported in latest filings
Cash Position (Pre-Distribution)	Balance after settling liabilities	Cash and Equivalents TTM: $\mathbf{\$17.26M}$ (as of Sep 30, 2023)

To be defintely clear, the cash on hand as of the last reported balance sheet data was $\mathbf{\$17.26M}$ in cash, offset by $\mathbf{\$33.95M}$ in debt, resulting in a net cash position of approximately $\mathbf{-\$16.69M}$ at that time. The final distribution, if any, would only occur after all wind-down costs and debt obligations are met, and any IP/asset sale proceeds are realized.

Here's a quick look at the operational revenue context:

• Revenue TTM (Operating): $\mathbf{\$0.00}$
• Net Income TTM: $\mathbf{-\$82.35M}$
• Shares Outstanding: $\mathbf{18.98M}$
• Stock Price (Dec 3, 2025): $\mathbf{\$0.0002}$

Finance: review the latest 10-Q filing for any specific disclosure regarding the SINTAX IP sale agreement terms by next Tuesday.