Finch Therapeutics announces decision to discontinue phase III trial of CP 101 for recurrent C. difficile infection and focus on realizing the value of its intellectual property estate.
Finch Therapeutics Group, Inc. announced its decision to discontinue the PRISM4 Phase III trial of CP 101 in recurrent C. difficile infection (CDI) and focus on realizing the value of its intellectual property estate and other assets
This decision follows an assessment by Finch’s management team and board of directors of several factors, including the Company’s outlook for securing additional capital or partnerships to help fund the CP 101 program through important milestones, slower than anticipated enrollment in the PRISM4 trial, the harmful impact of ongoing unauthorized use of the Company’s intellectual property, and broader sector trends
As a result of this decision, Finch is reducing its workforce by approximately 95%. The majority of impacted roles will end in February 2023, while some roles are expected to be maintained into May 2023 to support the Company’s new focus and continued evaluation of opportunities to create value for shareholders.
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