Finch Therapeutics reports Q1 net loss of $24.6M; FDA lifts clinical hold on CP101

Finch Therapeutics Group, Inc.

2023-Q1 EPS reported -$0.52 revenue$354,000

FDA lifted clinical hold on CP101 IND; Phase 3 PRISM4 enrollment expected in H2 2022.
Q1 2022 net loss $24.6M vs $14.0M in Q1 2021; revenue fell due to Takeda amendment.
Secured $55M debt facility from Hercules Capital; $15M drawn at closing.
Workforce reduced ~20% to focus on CDI, ASD, and Takeda-partnered IBD programs.
Cash and equivalents $106.9M as of March 31, 2022; runway into Q2 2024.

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