FNCH Finch Therapeutics Group Inc.
Upcoming Catalysts
| Drug | Stage | Catalyst Date |
|---|---|---|
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CP101 (PRISM-EXT)
C. difficile Infection
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Phase 2
Phase 2
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CP101
Hepatitis B
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Phase 1
Phase 1
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FIN-211
Autism Spectrum Disorder
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Phase 1
Phase 1
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CP101 (PRISM4)
Clostridioides difficile infection
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Phase 3
Phase 3
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Drug Pipeline
| Drug | Stage | Notes |
|---|---|---|
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FIN-524
Ulcerative Colitis
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Phase 1
Phase 1
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Phase 1 trial to commence 1H 2022.
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Latest News
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SOMERVILLE, Mass., Oct. 12, 2021 (GLOBE NEWSWIRE) -- Finch Therapeutics Group, Inc. ("Finch" or "Finch Therapeutics") (NASDAQ:FNCH), a clinical-stage microbiome therapeutics company leveraging its Human-First Discovery® platform to develop a novel class of orally administered biological drugs, today announced that Mark Smith, PhD, Chief Executive Officer, will present at the Jefferies Virtual Next Generation IBD Therapeutics Summit on Tuesday, October 19, 2021.
The pre-recorded presentation will be made available on Tuesday, October 19, 2021 at 4:45 pm ET under the ‘Investors & News' section of the Finch website and will be archived for approximately 30 days.
About Finch Therapeutics
Finch Therapeutics is a clinical-stage microbiome therapeutics company leveraging its Human-First Discovery® platform to develop a novel class of orally administered biological drugs. With the capabilities to develop both complete and targeted microbiome therapeutics, Finch is advancing a rich pipeline of candidates designed to address a wide range of unmet medical needs. Finch's lead candidate, CP101, is in late-stage clinical development for the prevention of recurrent C. difficile infection (CDI), and has received Breakthrough Therapy and Fast Track designations from the U.S. Food and Drug Administration. In June 2020, Finch announced that CP101 met its primary efficacy endpoint in PRISM3, the first of two pivotal trials to support the development of CP101 for the prevention of recurrent CDI. PRISM4, a Phase 3 trial, is designed to serve as the second pivotal trial of CP101 for recurrent CDI. Finch is also developing CP101 for the treatment of chronic hepatitis B virus, and FIN-211 for the treatment of the gastrointestinal and behavioral symptoms of autism spectrum disorder. Finch has a partnership with Takeda focused on the development of targeted microbiome therapeutics for inflammatory bowel disease.
Human-First Discovery® is a registered trademark of Finch Therapeutics Group, Inc.
Investor Contact:
Laurence Watts
Gilmartin Group
(619) 916-7620
laurence@gilmartinir.comor
Stephen Jasper
Gilmartin Group
(858) 525-2047
stephen@gilmartinir.comMedia Contact:
Jenna Urban
Berry & Company Public Relations
jurban@berrypr.com
212-253-8881
-
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SOMERVILLE, Mass., Oct. 05, 2021 (GLOBE NEWSWIRE) -- Finch Therapeutics Group, Inc. ("Finch" or "Finch Therapeutics") (NASDAQ:FNCH), a clinical-stage microbiome therapeutics company leveraging its Human-First Discovery® platform to develop a novel class of orally administered biological drugs, today announced that Samuel Allen (Al) Hamood has joined Finch's Board of Directors. Mr. Hamood is an accomplished executive with over 30 years of experience in finance, business development, corporate strategy, and M&A across several global industry sectors.
"Through the course of his career, Al has been instrumental in developing and driving growth strategies and translating those strategies into operational successes across multiple global industry verticals," said Mark Smith, PhD, Chief Executive Officer of Finch Therapeutics. "We are excited to welcome him to our board and look forward to leveraging his deep finance expertise as we advance our platform and pipeline of investigational microbiome therapeutics."
"I am greatly impressed by the progress Finch is making in the microbiome therapeutics space, highlighted by their late-stage CP101 program addressing a serious unmet need and their differentiated platform and pipeline with multiple near-term clinical milestones," said Mr. Hamood. "I look forward to working closely with the management team and my fellow board members to continue executing on Finch's strategy, with the goal of delivering value to both patients and shareholders."
Mr. Hamood is currently the President and Chief Administrative and Financial Officer of Culligan International, a multi-billion-dollar global consumer water services corporation operating in over 90 countries. Prior to Culligan, Mr. Hamood served as the acting Chief Executive Officer and President of ATI Physical Therapy, where he managed nearly 1,000 clinics and led over 8,000 employees. Before joining ATI, he served as Executive Vice President and Chief Financial Officer for Change Healthcare, a multi-billion-dollar healthcare technology company. Prior to joining Change Healthcare, Mr. Hamood was the Executive Vice President and Chief Financial Officer of TransUnion, a multinational global information services company. Earlier in his career he held a variety of finance and strategy roles at Hewlett Packard (formerly known as "EDS"), the Walt Disney Company, and Deloitte & Touche.
Mr. Hamood earned his Bachelor of Business Administration from the University of Iowa and his Juris Doctorate from Southwestern University School of Law. He is a Certified Public Accountant, and currently serves on the Board of Directors for Definitive Healthcare and AccentCare and is a member of the CNBC CFO Council.
About Finch Therapeutics
Finch Therapeutics is a clinical-stage microbiome therapeutics company leveraging its Human-First Discovery® platform to develop a novel class of orally administered biological drugs. With the capabilities to develop both complete and targeted microbiome therapeutics, Finch is advancing a rich pipeline of candidates designed to address a wide range of unmet medical needs. Finch's lead candidate, CP101, is in late-stage clinical development for the prevention of recurrent C. difficile infection (CDI), and has received Breakthrough Therapy and Fast Track designations from the U.S. Food and Drug Administration. In June 2020, Finch announced that CP101 met its primary efficacy endpoint in PRISM3, the first of two pivotal trials to support the development of CP101 for the prevention of recurrent CDI. PRISM4, a Phase 3 trial, is designed to serve as the second pivotal trial of CP101 for recurrent CDI. Finch is also developing CP101 for the treatment of chronic hepatitis B virus, and FIN-211 for the treatment of the gastrointestinal and behavioral symptoms of autism spectrum disorder. Finch has a partnership with Takeda focused on the development of targeted microbiome therapeutics for inflammatory bowel disease.
Human-First Discovery® is a registered trademark of Finch Therapeutics Group, Inc.
Forward-Looking Statements
Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Words such as "anticipates," "believes," "expects," "intends," "plans," "potential," "projects," "would" and "future" or similar expressions are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding: Finch's ability to execute on its business strategy and plans, including advancement of its platform and pipeline of microbiome therapeutics. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, among others: Finch's limited operating history and historical losses; Finch's ability to raise additional funding to complete the development and any commercialization of its product candidates; Finch's dependence on the success of its lead product candidate, CP101; the possibility that Finch may be delayed in initiating, enrolling or completing any clinical trials; results of clinical trials may not be indicative of final or future results from later stage or larger clinical trials (or in broader patient populations once the product is approved for use by regulatory agencies) or may not be favorable or may not support further development; Finch's product candidates may not generate the benefits to patients that are anticipated; anticipated regulatory approvals may be delayed or refused; competition from third parties that are developing products for similar uses; Finch's ability to maintain patent and other intellectual property protection and the possibility that Finch's intellectual property rights may be infringed, invalid or unenforceable or will be threatened by third parties; Finch's ability to qualify and scale its manufacturing capabilities in anticipation of commencement of multiple global clinical trials; Finch's lack of experience in selling, marketing and distributing its product candidates; Finch's dependence on third parties in connection with manufacturing, clinical trials and preclinical studies; and risks relating to the impact and duration of the COVID-19 pandemic on Finch's business. These and other risks are described more fully in Finch's filings with the Securities and Exchange Commission ("SEC"), including the section titled "Risk Factors" in Finch's Quarterly Report on Form 10-Q filed with the SEC on August 10, 2021, as well as discussions of potential risks, uncertainties, and other important factors in Finch's other filings with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made. Except to the extent required by law, Finch undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
Investor Contact:
Laurence Watts
Gilmartin Group
(619) 916-7620
laurence@gilmartinir.comor
Stephen Jasper
Gilmartin Group
(858) 525-2047
stephen@gilmartinir.comMedia Contact:
Jenna Urban
Berry & Company Public Relations
212-253-8881
jurban@berrypr.com
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SOMERVILLE, Mass., Sept. 08, 2021 (GLOBE NEWSWIRE) -- Finch Therapeutics Group, Inc. ("Finch" or "Finch Therapeutics") (NASDAQ:FNCH), a clinical-stage microbiome therapeutics company leveraging its Human-First Discovery® platform to develop a novel class of orally administered biological drugs, today announced the appointment of Marc Blaustein as Chief Operating Officer. Mr. Blaustein is a seasoned biopharmaceutical executive with more than 20 years of experience building and leading companies and critical business functions including operations, business development, program management, and manufacturing.
"I am delighted to welcome Marc to the Finch team at a time when we are positioned to make significant advancements across our microbiome therapeutics platform," said Mark Smith, PhD, Chief Executive Officer of Finch Therapeutics. "Marc has demonstrated immediate impact within the companies he joins and we believe his broad skillset and successful track record in drug development and commercialization will be invaluable to our organization. I look forward to leveraging Marc's experience and operational expertise as Finch enters its next phase of growth, with our lead candidate in late-stage clinical development and a growing pipeline of programs headed towards the clinic with an expected data-rich period ahead."
"The field of microbiome therapeutics is an incredibly exciting emerging target for innovation and Finch's platform offers a novel modality to potentially address a wide range of serious unmet medical needs. I am thrilled to join Finch at such a pivotal time and hope to draw from my experience to continue building upon the momentum generated by Finch's promising clinical data and translational research," said Mr. Blaustein.
Mr. Blaustein most recently consulted as the Head of Business Development for Guide Therapeutics, which was acquired by Beam Therapeutics in 2021. Prior to Guide Therapeutics, Mr. Blaustein was the Chief Executive Officer of NED Biosystems and co-founder and Chief Executive Officer of Akashi Therapeutics. Before founding Akashi, he served in various leadership positions across several biotechnology companies, including Senior Vice President of Manufacturing, Process and Commercial Operations at Dyax Corp. (now Takeda), where he led the development of Kalbitor®. Prior to Dyax, Mr. Blaustein held business development and management roles at Alkermes, where he initiated and led the development program for Vivitrol®. Prior to Alkermes, Mr. Blaustein worked in business development at Genetics Institute (now Pfizer). Mr. Blaustein began his career in management consulting, first at Mercer Management Consulting, and then as a founding partner of Northbridge Consulting. Mr. Blaustein received his master's degree in Public Policy from Harvard University and bachelor's degree in Biology from the University of Pennsylvania. He is also a Chartered Financial Analyst (CFA) charterholder.
About Finch Therapeutics
Finch Therapeutics is a clinical-stage microbiome therapeutics company leveraging its Human-First Discovery® platform to develop a novel class of orally administered biological drugs. With the capabilities to develop both complete and targeted microbiome therapeutics, Finch is advancing a rich pipeline of candidates designed to address a wide range of unmet medical needs. Finch's lead candidate, CP101, is in late-stage clinical development for the prevention of recurrent C. difficile infection (CDI), and has received Breakthrough Therapy and Fast Track designations from the U.S. Food and Drug Administration. In June 2020, Finch announced that CP101 met its primary efficacy endpoint in PRISM3, the first of two pivotal trials to support the development of CP101 for the prevention of recurrent CDI. PRISM4, a Phase 3 trial, is designed to serve as the second pivotal trial of CP101 for recurrent CDI. Finch is also developing CP101 for the treatment of chronic hepatitis B virus, and FIN-211 for the treatment of the gastrointestinal and behavioral symptoms of autism spectrum disorder. Finch has a partnership with Takeda focused on the development of targeted microbiome therapeutics for inflammatory bowel disease.
Human-First Discovery® is a registered trademark of Finch Therapeutics Group, Inc.
Forward-Looking Statements
Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Words such as "anticipates," "believes," "expects," "intends," "plans," "potential," "projects," "would" and "future" or similar expressions are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding: Finch's strategy and plans, including in regards to development activities as well as Finch's ability to advance a novel class of therapeutics across its platform and pipeline. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, among others: Finch's limited operating history and historical losses; Finch's ability to raise additional funding to complete the development and any commercialization of its product candidates; Finch's dependence on the success of its lead product candidate, CP101; the possibility that Finch may be delayed in initiating, enrolling or completing any clinical trials; results of clinical trials may not be indicative of final or future results from later stage or larger clinical trials (or in broader patient populations once the product is approved for use by regulatory agencies) or may not be favorable or may not support further development; Finch's product candidates may not generate the benefits to patients that are anticipated; anticipated regulatory approvals may be delayed or refused; competition from third parties that are developing products for similar uses; Finch's ability to maintain patent and other intellectual property protection and the possibility that Finch's intellectual property rights may be infringed, invalid or unenforceable or will be threatened by third parties; Finch's ability to qualify and scale its manufacturing capabilities in anticipation of commencement of multiple global clinical trials; Finch's lack of experience in selling, marketing and distributing its product candidates; Finch's dependence on third parties in connection with manufacturing, clinical trials and preclinical studies; and risks relating to the impact and duration of the COVID-19 pandemic on Finch's business. These and other risks are described more fully in Finch's filings with the Securities and Exchange Commission ("SEC"), including the section titled "Risk Factors" in in Finch's Quarterly Report on Form 10-Q filed with the SEC on August 10, 2021, as well as discussions of potential risks, uncertainties, and other important factors in Finch's other filings with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made. Except to the extent required by law, Finch undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
Investor Contact:
Laurence Watts
Gilmartin Group
(619) 916-7620
laurence@gilmartinir.comor
Stephen Jasper
Gilmartin Group
(858) 525-2047
stephen@gilmartinir.comMedia Contact:
Jenna Urban
Berry & Company Public Relations
(212) 253-8881
jurban@berrypr.com
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SOMERVILLE, Mass., Sept. 07, 2021 (GLOBE NEWSWIRE) -- Finch Therapeutics Group, Inc. ("Finch" or "Finch Therapeutics") (NASDAQ:FNCH), a clinical-stage microbiome therapeutics company leveraging its Human-First Discovery® platform to develop a novel class of orally administered biological drugs, today announced that Mark Smith, PhD, Chief Executive Officer, will present a company overview at the H.C. Wainwright 23rd Annual Global Investment Conference being held September 13-15, 2021. The on-demand presentation will be available on Monday, September 13, 2021 at 7:00 am ET.
A webcast of the presentation will be available under the ‘Investors & News' section of the Finch website and will be archived for approximately 30 days.
About Finch Therapeutics
Finch Therapeutics is a clinical-stage microbiome therapeutics company leveraging its Human-First Discovery® platform to develop a novel class of orally administered biological drugs. With the capabilities to develop both complete and targeted microbiome therapeutics, Finch is advancing a rich pipeline of candidates designed to address a wide range of unmet medical needs. Finch's lead candidate, CP101, is in late-stage clinical development for the prevention of recurrent C. difficile infection (CDI), and has received Breakthrough Therapy and Fast Track designations from the U.S. Food and Drug Administration. In June 2020, Finch announced that CP101 met its primary efficacy endpoint in PRISM3, the first of two pivotal trials to support the development of CP101 for the prevention of recurrent CDI. PRISM4, a Phase 3 trial, is designed to serve as the second pivotal trial of CP101 for recurrent CDI. Finch is also developing CP101 for the treatment of chronic hepatitis B virus, and FIN-211 for the treatment of the gastrointestinal and behavioral symptoms of autism spectrum disorder. Finch has a partnership with Takeda focused on the development of targeted microbiome therapeutics for inflammatory bowel disease.
Human-First Discovery® is a registered trademark of Finch Therapeutics Group, Inc.
Investor Contact:
Laurence Watts
Gilmartin Group
(619) 916-7620
laurence@gilmartinir.comor
Stephen Jasper
Gilmartin Group
(858) 525-2047
stephen@gilmartinir.comMedia Contact:
Jenna Urban
Berry & Company Public Relations
jurban@berrypr.com
212-253-8881
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- Takeda to accelerate leadership role in advancing FIN-524/TAK-524 ulcerative colitis development program
- Topline safety and efficacy data from more than 130 recurrent CDI patients treated with CP101 in open label PRISM-EXT trial expected in H2 2021
- Continued progress advancing development programs, with clinical data across multiple programs anticipated in 2022
SOMERVILLE, Mass., Aug. 10, 2021 (GLOBE NEWSWIRE) -- Finch Therapeutics Group, Inc. ("Finch" or "Finch Therapeutics") (NASDAQ:FNCH), a clinical-stage microbiome therapeutics company leveraging its Human-First Discovery® platform to develop a novel class of orally administered biological drugs, today reported financial results for the second quarter ended June 30, 2021 and provided a business update.
"The Finch team has made tremendous progress executing on our clinical development plans and positioning Finch for important data readouts next year from trials evaluating FIN-211 in children with autism and GI symptoms and CP101 in adults with chronic hepatitis B infection," said Mark Smith, PhD, Chief Executive Officer of Finch Therapeutics. "We believe these readouts, as well as the upcoming readout from our open-label trial of CP101 in recurrent C. difficile, will build on the clinical results we have demonstrated thus far with our lead candidate CP101 and highlight the broad potential of the differentiated platform we have built to translate insights from compelling clinical data into novel product candidates. In addition to our current portfolio, we continue to make progress across multiple discovery-stage programs that offer exciting new opportunities to leverage our Human-First Discovery platform."
Recent Highlights
- Takeda to Accelerate Leadership Role in FIN-524/TAK-524 Ulcerative Colitis Development Program: In August 2021, Finch announced that Takeda elected to accelerate the transition of development responsibility for FIN-524/TAK-524, a targeted consortia product candidate developed by Finch and Takeda for the treatment of ulcerative colitis. The transition will enable Takeda to leverage its expertise in inflammatory bowel disease (IBD) throughout the clinical development of FIN-524/TAK-524.
- Continued Progress Advancing Development of CP101 Programs:
CP101 for Recurrent CDI: Finch has completed several key trial start-up activities, including the receipt of central IRB approval, for the PRISM4 Phase 3 trial which is designed to serve as the second pivotal trial of CP101 for recurrent C. difficile infection (CDI).
CP101 for Chronic HBV: Building on KOL feedback and existing third-party clinical data, Finch has decided to expand RECLAIM, a planned Phase 1b trial of CP101 in chronic hepatitis B (HBV), from two cohorts to four cohorts. RECLAIM will now evaluate CP101 in four HBV subpopulations including two cohorts of HBeAg positive patients with low and high viral DNA levels respectively and two cohorts of HBeAg negative patients, one on oral antivirals and a second that is treatment naïve. These changes to the trial design are designed to enhance the ability to detect a signal among key exploratory endpoints, including levels of surface antigen, e-antigen, viral DNA, and immunological biomarkers. With these refinements to the trial design and our allocation of available drug supply across our portfolio, RECLAIM is anticipated to initiate in early 2022, with an initial safety readout in the first half of 2022 and topline data from multiple cohorts available in the second half of 2022.
- Expanded Leadership Team and Board of Directors: Finch appointed Stephen Klincewicz, DO, MPH, JD to Vice President of Drug Safety and Pharmacovigilance in June 2021. Additionally, Finch announced in April 2021 the appointment of Susan E. Graf to its Board of Directors.
Key Anticipated Upcoming Milestones
- Topline 8-week and 6-month data from PRISM-EXT, an open-label trial evaluating the safety and efficacy of CP101 for recurrent CDI in over 130 patients, is anticipated in the second half of 2021 and topline data from the PRISM4 Phase 3 trial of CP101 in recurrent CDI is anticipated in the first half of 2023.
- Topline data from a Phase 1b trial of FIN-211 in children with autism spectrum disorder (ASD) and gastrointestinal symptoms and a Phase 1b trial of CP101 in chronic HBV are anticipated in the second half of 2022.
Second Quarter 2021 Financial Results
- Finch reported a net loss of $15.2 million for the second quarter of 2021 as compared to a net loss of $8.3 million for the same period in 2020. The increase was largely due to increased research and development expenses, as well as increased costs related to the infrastructure needed to support Finch's growth.
- Research and development expenses for the second quarter of 2021 were $14.0 million, compared with $8.1 million for the same period in 2020. The increase was primarily due to an increase in personnel costs, manufacturing related expenses and early asset discovery work. Increases were also due to expansion and development of Finch's chronic HBV and ASD programs.
- General and administrative expenses for the second quarter of 2021 were $5.9 million, as compared with $2.6 million for the same period in 2020. The increase was primarily due to increased headcount to support Finch's operational growth, an increase in business insurance costs and an increase in professional fees to support Finch's transition to a public company.
- Finch's cash and cash equivalents as of June 30, 2021 was $168.1 million compared to $99.7 million as of December 31, 2020. Finch expects that the cash and cash equivalents it had on hand at June 30, 2021 will be sufficient to fund operating expenses and capital expenditures into mid-2023.
About Finch Therapeutics
Finch Therapeutics is a clinical-stage microbiome therapeutics company leveraging its Human-First Discovery® platform to develop a novel class of orally administered biological drugs. With the capabilities to develop both complete and targeted microbiome therapeutics, Finch is advancing a rich pipeline of candidates designed to address a wide range of unmet medical needs. Finch's lead candidate, CP101, is in late-stage clinical development for the prevention of recurrent C. difficile infection (CDI), and has received Breakthrough Therapy and Fast Track designations from the U.S. Food and Drug Administration. In June 2020, Finch announced that CP101 met its primary efficacy endpoint in PRISM3, the first of two pivotal trials to support the development of CP101 for the prevention of recurrent CDI. PRISM4, a Phase 3 trial, is designed to serve as the second pivotal trial of CP101 for recurrent CDI. Finch is also developing CP101 for the treatment of chronic hepatitis B virus, and FIN-211 for the treatment of the gastrointestinal and behavioral symptoms of autism spectrum disorder. Finch has a partnership with Takeda focused on the development of targeted microbiome therapeutics for inflammatory bowel disease.
Forward-Looking Statements
Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Words such as "anticipates," "believes," "expects," "intends," "plans," "potential," "projects," "would" and "future" or similar expressions are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding: the initiation and timing of Finch's clinical trials and the period during which the results of trials will be available, including specifically the data readouts from a Phase 3 trial in recurrent C. difficile and Phase 1 trials in autism and chronic hepatitis B; Finch's ability to advance the development of a novel class of therapeutics; Finch's ability to demonstrate the breadth and potential of its microbiome therapeutics platform; the therapeutic value, development, and commercial potential of microbiome therapeutics; and Finch's expected cash runway. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, among others: Finch's limited operating history and historical losses; Finch's ability to raise additional funding to complete the development and any commercialization of its product candidates; Finch's dependence on the success of its lead product candidate, CP101; the possibility that Finch may be delayed in initiating, enrolling or completing any clinical trials; results of clinical trials may not be sufficient to satisfy regulatory authorities to approve Finch's product candidates in their targeted or other indications (or such authorities may request additional trials or additional information); results of clinical trials may not be indicative of final or future results from later stage or larger clinical trials (or in broader patient populations once the product is approved for use by regulatory agencies) or may not be favorable or may not support further development; Finch's product candidates, including CP101, may not generate the benefits to patients that are anticipated; anticipated regulatory approvals may be delayed or refused; competition from third parties that are developing products for similar uses; Finch's ability to maintain patent and other intellectual property protection and the possibility that Finch's intellectual property rights may be infringed, invalid or unenforceable or will be threatened by third parties; Finch's ability to qualify and scale its manufacturing capabilities in anticipation of commencement of multiple global clinical trials; Finch's lack of experience in selling, marketing and distributing its product candidates; Finch's dependence on third parties in connection with manufacturing, clinical trials and preclinical studies; and risks relating to the impact and duration of the COVID-19 pandemic on Finch's business. These and other risks are described more fully in Finch's filings with the Securities and Exchange Commission ("SEC"), including the section titled "Risk Factors" in Finch's Quarterly Report on Form 10-Q filed with the SEC on May 13, 2021, as well as discussions of potential risks, uncertainties, and other important factors in Finch's other filings with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made. Except to the extent required by law, Finch undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
Human-First Discovery® is a registered trademark of Finch Therapeutics Group, Inc.
Investor Contact:
Laurence Watts
Gilmartin Group
(619) 916-7620
laurence@gilmartinir.comor
Stephen Jasper
Gilmartin Group
(858) 525 2047
stephen@gilmartinir.comMedia Contact:
Jenna Urban
Berry & Company Public Relations
jurban@berrypr.com
212-253-8881Finch Therapeutics Group, Inc.
Condensed Consolidated Statements of Operations (Unaudited)
(in thousands, except share and per share data)FOR THE THREE MONTHS
ENDED JUNE 30,FOR THE SIX MONTHS
ENDED JUNE 30,2021 2020 2021 2020 Revenue: Collaboration revenue $ 2,830 $ 2,237 $ 6,383 $ 3,849 Other revenue — 112 — 292 Total revenue 2,830 2,349 6,383 4,141 Operating expenses: Research and development 13,964 8,135 26,939 15,532 General and administrative 5,882 2,574 10,433 4,832 Total operating expenses 19,846 10,709 37,372 20,364 Loss from operations (17,016 ) (8,360 ) (30,989 ) (16,223 ) Other income 1,847 101 1,839 63 Net loss $ (15,169 ) $ (8,259 ) $ (29,150 ) $ (16,160 ) Net loss per share attributable to common stockholders—basic and diluted $ (0.32 ) $ (1.02 ) $ (0.95 ) $ (2.03 ) Weighted-average common stock outstanding—basic and diluted 47,379,887 8,069,304 30,798,698 7,968,267 Finch Therapeutics Group, Inc.
Condensed Consolidated Balance Sheet Data (Unaudited)
(in thousands)JUNE 30,
2021DECEMBER 31,
2020Assets: Cash and cash equivalents $ 168,136 $ 99,710 Other assets 82,192 65,628 Total assets $ 250,328 $ 165,338 Liabilities, redeemable convertible preferred stock and stockholders' equity (deficit) Liabilities 22,135 28,002 Redeemable convertible preferred stock — 233,054 Stockholders' equity (deficit) 228,193 (95,718 ) Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit) $ 250,328 $ 165,338 