Finch Therapeutics falls on discontinuing bacterial infection drug trial

Finch Therapeutics

24/01/2023 16:06

** Drug developer Finch Therapeutics Group Inc's shares
 FNCH.O  fall 6.3% to $0.46 
    ** Co plans to discontinue late-stage study of
investigational drug to treat recurrent clostridium difficile
infection, a bacterial infection that causes diarrhea
    ** Co plans to reduce workforce by 95%, laying off 77
full-time employees
    ** Co to incur restructuring charges of $4.1 mln; majority
of the charge to occur in H1 2023
    ** Stock has declined 94% in last 12 months
 (Reporting by Aditya Samal)
 ((Aditya.Samal@thomsonreuters.com;))