Finch Therapeutics down on restructuring plans

Finch Therapeutics

01/09/2022 16:12

** Drug developer Finch Therapeutics' shares  FNCH.O  fall
~2% to $2.10
    ** Co will reduce its workforce by ~37% and plans to suspend
efforts to start early-stage trial of its experimental autism
treatment, as part of ongoing strategic review  urn:newsml:reuters.com:*:nGNX41rwsB
    ** Decision follows the discontinuation of Finch's
collaboration with Takeda Pharmaceutical  4502.1  for
development of treatment for inflammatory bowel disease 
    ** Co estimates to incur $1.6 mln under restructuring plan;
expects to complete it by Q4  urn:newsml:reuters.com:*:nEOLbv9f1Z
    ** Including session losses, stock lost ~79% YTD

 (Reporting by Khushi Mandowara)
 ((Khushi.Mandowara@thomsonreuters.com;))