Finch Therapeutics cuts 20% of workforce (37 FTE); focuses on CDI and ASD after FDA clinical hold

Finch Therapeutics Group, Inc.

Reduction of 37 full-time employees (~20% of workforce) approved by board on April 14, 2022.
Estimates ~$1.1M in one-time severance and related costs, recorded in Q2 2022.
Restructuring follows FDA clinical hold on CP101 (SARS-CoV-2 donor screening) and pause of chronic hepatitis B program.
Company has submitted complete response to FDA on clinical hold and awaits feedback.
Prioritizing recurrent C. difficile infection (CDI) and autism spectrum disorder (ASD) programs; Takeda-partnered IBD work continues.

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