Highest-materiality recent filing
Finch Therapeutics initiates Nasdaq delisting; plans SEC deregistration by Nov 11
Board determined to delist common stock from Nasdaq; Form 25 to be filed on or about Oct 31, 2024.
Jury awards Finch $25M upfront plus royalties in patent infringement verdict against Ferring
Jury found Ferring willfully infringed on Finch/UMN patents for microbiome therapy Rebyota.
Finch Therapeutics receives Nasdaq delisting notice; trading suspended May 28
Nasdaq Listing Panel determined to delist Finch; company deemed a 'public shell' without an operating business.
Finch Therapeutics receives additional delisting notice, requests transfer to Nasdaq Capital Market
Nasdaq issued Additional Staff Determination on May 14, 2024, for continued noncompliance with $5M MVPHS Rule.
Nasdaq says Finch is a 'public shell', seeks delisting; company appeals
Nasdaq notified Finch on Feb 16, 2024 that it believes the company is a public shell and continued listing is unwarranted.
Finch Therapeutics receives Nasdaq deficiency notice for MVPHS below $5M
Received Nasdaq deficiency letter Nov 15, 2023 for failing MVPHS Rule 5450(b)(1)(C) for 35 consecutive days.
Finch Therapeutics Q1 net loss $63.9M on impairment charges; new CEO/CFO
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.
Finch Therapeutics replaces CEO and CFO; Blischak appointed CEO effective May 16
CEO Mark Smith and COO Marc Blaustein terminated without cause, effective May 15, 2023; Smith resigns from board.
Finch Therapeutics announces ulcerative colitis trial for CP101, amends UMN license
Investigator-sponsored trial at Brigham and Women's Hospital comparing two doses of CP101 in mild-to-moderate ulcerative colitis; topline data expected in 2025.
Finch Therapeutics Q4 net loss $27M, cash $71M; patent litigation progress, PRISM4 discontinued
Net loss Q4 $27.0M vs $19.1M in Q4 2021; FY2022 net loss $114.6M vs $58.2M in prior year.
Finch Therapeutics prepays $16.2M to Hercules Capital, terminates loan agreement
On Jan 25, 2023, prepaid $16.2M aggregate, including $330K prepayment charge (2.2%) and $825K end-of-term fee.
Finch Therapeutics ends Phase 3 CP101 trial, cuts 95% of staff to focus on IP monetization
Discontinued PRISM4 Phase 3 trial of CP101 in recurrent C. difficile infection; cites capital outlook, slow enrollment, unauthorized IP use.
Finch Therapeutics receives Nasdaq deficiency notice for bid price below $1.00
Received Nasdaq deficiency letter on Dec 30, 2022 for non-compliance with $1.00 minimum bid price requirement.
Finch Q3 net loss $40.4M on $18.1M goodwill impairment; PRISM4 Phase 3 dosing ongoing
Net loss $40.4M vs $10.0M in Q3 2021 due to $18.1M goodwill impairment and $11.2M revenue decline from Takeda termination.
Finch Therapeutics cuts 37% workforce, suspends FIN-211 trial after Takeda deal ends
Reduces workforce by 50 employees (~37% of staff) to cut costs.
Takeda terminates collaboration; Finch regains full rights to IBD candidates FIN-524 and FIN-525
Takeda terminated collaboration for convenience effective Nov 17, 2022; Finch regains worldwide rights to FIN-524 and FIN-525.
Finch Therapeutics Q2 2022 net loss $22.7M; revenue down $2.5M YoY
Net loss of $22.7M vs $15.2M in Q2 2021; R&D flat at $13.9M; G&A up to $8.2M.
Finch Therapeutics reports Q1 net loss of $24.6M; FDA lifts clinical hold on CP101
FDA lifted clinical hold on CP101 IND; Phase 3 PRISM4 enrollment expected in H2 2022.
FDA lifted clinical hold on CP101 IND after Finch provided SARS-CoV-2 screening data and revised consent language.
Finch Therapeutics cuts 20% of workforce (37 FTE); focuses on CDI and ASD after FDA clinical hold
Reduction of 37 full-time employees (~20% of workforce) approved by board on April 14, 2022.
Finch Therapeutics Q4 2021 net loss $19.1M; PRISM4 trial on hold, CFO retiring
Net loss of $19.1M in Q4 2021 ($13.1M in Q4 2020); full year loss $58.2M ($39.3M in 2020).
FDA clinical hold letter Feb 24, 2022 requesting additional info on SARS-CoV-2 donor screening protocols.
Finch Therapeutics Q3 2021 net loss $10.0M; CP101 Phase 2 shows 80.3% cure rate
Net loss of $10.0M for Q3 2021 (vs. $10.1M loss in Q3 2020); R&D expenses increased to $15.5M from $9.0M.
Finch transfers FIN-524 ulcerative colitis program to Takeda for clinical development
Amendment (Aug 9, 2021) transfers primary development & regulatory responsibility for FIN-524/TAK-524 to Takeda ahead of Phase 1.
Finch Therapeutics Q2 net loss $15.2M; cash $168.1M; Takeda accelerates UC program
Net loss $15.2M vs $8.3M YoY; R&D expense $14.0M, G&A $5.9M.
On June 21, 2023, Nicholas Haft resigned from the Board of Directors (the “Board”) of Finch Therapeutics Group, Inc. (the “Company”), effective as of June 23, 2023.
Additionally, on April 21, 2023, and effective as of May 16, 2023, the Board appointed Matthew P. Blischak to serve as the Company’s Chief Executive Officer
On April 21, 2023, the Board of Directors (the “Board”) of Finch Therapeutics Group, Inc. (the “Company”) approved the termination of employment, without cause, of each of Mark Smith, Ph.D., and Marc Blaustein, the Company’s Chief Executive Officer and Chief Operating Officer, in each case effective May 15, 2023.
Further, on April 21, 2023, Dr. Smith resigned as a member of the Board, effective as of May 15, 2023.
and Lance Thibault to serve as the Company’s Chief Financial Officer.
On April 21, 2023, the Board of Directors (the “Board”) of Finch Therapeutics Group, Inc. (the “Company”) approved the termination of employment, without cause, of each of Mark Smith, Ph.D., and Marc Blaustein, the Company’s Chief Executive Officer and Chief Operating Officer, in each case effective May 15, 2023.
Additionally, on December 7, 2022, the Company entered into a Retention Bonus Agreement with Marc Blaustein, the Company’s Chief Operating Officer, who will also take over business development and investor relations responsibilities following Mr. Vittiglio’s resignation.
On December 7, 2022, Joseph Vittiglio informed Finch Therapeutics Group, Inc. (the “Company”) of his resignation as the Company’s Chief Business and Legal Officer and Secretary, effective as of December 31, 2022, in order to pursue other professional opportunities.
elected Samuel Allen Hamood to the Board, effective immediately, to serve as a Class I director
appointed Marc Blaustein to serve as the Company’s Chief Operating Officer, effective September 8, 2021.
Max materiality 0.90 · Median 0.65 · Most common event other_material