Finch Therapeutics Q1 net loss $63.9M on impairment charges; new CEO/CFO

Finch Therapeutics Group, Inc.

2023-Q1 EPS reported -$1.33 revenue$107,000

Net loss of $63.9M in Q1 2023 vs $24.6M in Q1 2022; includes $32.9M IPR&D impairment and $13.1M long-lived asset impairment.
Cash and equivalents $41.7M as of Mar 31, 2023; expects to fund operations into 2025.
Clinical trial agreement with Brigham and Women's Hospital to evaluate CP101 in ulcerative colitis; topline data expected in 2025.
Executive leadership transition: Matthew Blischak to become CEO, Lance Thibault to become CFO effective May 16, 2023.
Safety analysis from discontinued PRISM4 trial showed no drug-related serious adverse events among 19 patients.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Finch Therapeutics Group, Inc. reported first quarter of 2023 results: net income net loss of $63.9 million.

Period: first quarter of 2023
Net income: net loss of $63.9 million
Result: reported results

Exact text from the filing

Finch reported a net loss of $63.9 million for the first quarter of 2023, compared to a net loss of $24.6 million for the same period in 2022.

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Source: SEC EDGAR

accession 0000950170-23-020075

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