---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-022876"
form_type: "8-K"
ticker: null
cik: "0001694665"
company_name: "Evelo Biosciences, Inc."
filed_at: "2023-02-02T23:59:59+00:00"
generated_at: "2026-06-20T02:29:33.494856+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Evelo Biosciences cuts 45% workforce; Phase 2 atopic dermatitis trial fails primary endpoint

## Summary
- Workforce reduction of 48 employees (45% of headcount); estimated $2.7M charges, cash runway extended into Q3 2023.
- Phase 2 trial of EDP1815 in atopic dermatitis failed primary endpoint (EASI-50) in three cohorts due to high placebo rates; fourth cohort data expected Q2 2023.
- Positive regulatory feedback from FDA, EMA, MHRA for Phase 3 plans of EDP1815 in psoriasis; clear path to global registration.
- Dosing started for Phase 1 of EDP2939 (EV product) in psoriasis; Phase 2a dosing planned Q1 2023; data H2 2023.
- CFO Marella Thorell appointed principal accounting officer after CAO departure; CEO search halted, Simba Gill remains.

## SEC filing metadata
- accession: 0001193125-23-022876
- form_type: 8-K
- cik: 0001694665
- company_name: Evelo Biosciences, Inc.
- filed_at: 2023-02-02T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.05, 5.02, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1694665/000119312523022876/0001193125-23-022876-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1694665/000119312523022876/d344481d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-022876
- JSON: https://secwatch.observer/filing/0001193125-23-022876.json
- Plain text: https://secwatch.observer/filing/0001193125-23-022876.txt

## Key facts
- Executive change
  Marella Thorell was appointed as Principal Accounting Officer at Evelo Biosciences, Inc..
  - Action: appointed
  - Role: Principal Accounting Officer
  source text: On the same date, the Board appointed Marella Thorell, the Company’s Chief Financial Officer, Senior Vice President, Treasurer and principal financial officer, as the Company’s principal accounting officer effective upon Mr. Carriere’s departure.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1694665/000119312523022876/0001193125-23-022876-index.htm
- Executive change
  Stephen J. Carriere departed as Chief Accounting Officer at Evelo Biosciences, Inc..
  - Action: departed
  - Role: Chief Accounting Officer
  source text: On January 31, 2023, Stephen J. Carriere, the Company’s Chief Accounting Officer, was informed that his position was being eliminated in connection with the Workforce Reduction.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1694665/000119312523022876/0001193125-23-022876-index.htm
- Restructurings & Charges
  Evelo Biosciences, Inc. announced a restructuring with charges of aggregate charges in connection with the Workforce Reduction of approximately $2.7 million, which relate primarily to severance payments and related continuatio affecting workforce (48 employees, or approximately 45% of the Company's headcount as of January 31, 2023).
  - Type: restructuring
  - Charge: aggregate charges in connection with the Workforce Reduction of approximately $2.7 million, which relate primarily to severance payments and related continuatio
  - Affected area: workforce
  - Headcount: 48 employees, or approximately 45% of the Company's headcount as of January 31, 2023
  source text: and prioritize investment in its core clinical programs. The Company estimates that it will incur aggregate charges in connection with the Workforce Reduction of approximately $2.7 million, which relate primarily to severance payments and related continuation of benefits costs, all of which are anticipated to result in future cash expenditures, along with the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1694665/000119312523022876/0001193125-23-022876-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.