Finch falls after Takeda ends bowel disease drug collaboration

Finch Therapeutics

26/08/2022 16:31

** Shares of Finch Therapeutics Group Inc  FNCH.O  drop ~7%
to $2.50
    ** Takeda Pharmaceutical  4502.T  will terminate its
collaboration with Finch for development of its experimental
drugs FIN-524 (previously known as TAK-524) and FIN-525 for
treating inflammatory bowel disease  urn:newsml:reuters.com:*:nGNXfyTDF
    ** Finch to regain full development and commercial rights to
the drugs following the termination, effective Nov. 17
    ** Finch says it has received over $44 mln from Takeda
during the course of the collaboration
    ** Earlier this month, FNCH said Takeda was conducting a
review of FIN-524 program as part of its portfolio review
process  urn:newsml:reuters.com:*:nGNX3nz1LS
    ** Including session's decline, stock down ~75% YTD 

 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com;))