Finch Therapeutics Group, Inc. (FNCH): Modelo de Negocio Canvas [Actualizado en Ene-2025]

En el mundo de vanguardia de la investigación del microbioma, Finch Therapeutics Group, Inc. (FNCH) emerge como una fuerza pionera que transforma paradigmas de tratamiento gastrointestinal complejo. Al aprovechar la experiencia científica avanzada y las metodologías de investigación innovadores, esta compañía de biotecnología está preparada para revolucionar las soluciones terapéuticas personalizadas a través de intervenciones innovadoras de microbiomas. Su modelo de negocio integral representa un enfoque sofisticado para abordar las necesidades de atención médica no satisfecha, combinar la innovación científica, las asociaciones estratégicas y las tecnologías médicas transformadoras que podrían remodelar la forma en que entendemos y tratamos las condiciones médicas desafiantes.

Finch Therapeutics Group, Inc. (FNCH) - Modelo de negocios: asociaciones clave

Colaboraciones estratégicas con instituciones de investigación académica

Finch Therapeutics ha establecido asociaciones con las siguientes instituciones académicas:

Institución	Enfoque de investigación	Detalles de colaboración
Hospital General de Massachusetts	Investigación de microbioma	Desarrollo terapéutico de microbioma en curso
Universidad de California, San Francisco	Microbioma gastrointestinal	Colaboración de investigación clínica

Asociaciones de desarrollo farmacéutico

Las asociaciones clave de desarrollo farmacéutico incluyen:

• Bristol Myers Squibb - Colaboración en plataformas terapéuticas de microbioma
• Takeda Pharmaceutical - Acuerdo de investigación estratégica para la terapéutica de microbioma

Consorcios de investigación de microbioma

Finch Therapeutics participa en las siguientes redes de investigación de microbioma:

Consorcio	Enfoque de investigación	Estado de membresía
Proyecto de microbioma humano	Mapeo de microbioma integral	Miembro activo
Consorcio Internacional de Microbioma	Investigación global de microbioma	Socio colaborativo

Colaboradores de redes de ensayos clínicos

Los socios de colaboración de ensayos clínicos incluyen:

• Mayo Clinic - Ensayos de enfermedades gastrointestinales
• Universidad de Johns Hopkins - Pruebas terapéuticas de Microbiome
• Stanford Medical Center - Pruebas de medicina de precisión

Posentes socios de inversión de biotecnología

Oportunidades potenciales de inversión y asociación estratégica con:

Socio de inversión	Tipo de inversión	Enfoque de inversión potencial
Pionero insignia	Capital de riesgo	Plataforma terapéutica de microbioma
Arch Venture Partners	Inversión estratégica	Investigación y desarrollo del microbioma

Finch Therapeutics Group, Inc. (FNCH) - Modelo de negocio: actividades clave

Investigación y desarrollo terapéutico basado en microbiomas

A partir del cuarto trimestre de 2023, Finch Therapeutics se centró en el desarrollo de la terapéutica basada en microbiomas con 3 programas activos de etapa clínica:

Programa	Área terapéutica	Etapa de desarrollo
CP101	Colitis ulcerosa	Ensayo clínico de fase 2
CP255	Enfermedad de Crohn	Desarrollo preclínico
CP352	Trastornos neurológicos	Investigación preclínica

Gestión de ensayos preclínicos y clínicos

La inversión en ensayos clínicos para 2023 fue de aproximadamente $ 15.2 millones, con ensayos en curso dirigidos a intervenciones terapéuticas de microbioma específicas.

• 3 programas de desarrollo clínico activo
• Reclutamiento continuo de pacientes para ensayos de fase 2
• Asociaciones de investigación colaborativa con instituciones académicas

Descubrimiento de drogas e innovación

El gasto de investigación y desarrollo para 2023 totalizaron $ 22.7 millones, dedicado a innovaciones terapéuticas de microbioma.

Enfoque de investigación	Inversión
Tecnología de plataforma de microbioma	$ 12.4 millones
Novedosos candidatos terapéuticos	$ 10.3 millones

Procesos de cumplimiento y presentación regulatoria

Las actividades regulatorias en 2023 incluyeron:

• Presentarios de solicitud de nueva fármaco de investigación de la FDA (IND)
• Cumplimiento continuo de los protocolos de ensayos clínicos
• Preparación de la documentación regulatoria para CP101

Investigación científica y avance de la tubería de productos

El desarrollo de la tubería de productos se centró en 3 áreas terapéuticas clave con una inversión de investigación total de $ 18.5 millones en 2023.

Categoría de investigación	Asignación de financiación
Trastornos gastrointestinales	$ 9.2 millones
Investigación neurológica	$ 6.7 millones
Tecnologías de microbioma exploratorios	$ 2.6 millones

Finch Therapeutics Group, Inc. (FNCH) - Modelo de negocio: recursos clave

Experiencia científica de microbioma patentado

Finch Therapeutics Group posee capacidades especializadas de investigación de microbiomas con enfoque en el desarrollo de intervenciones terapéuticas. A partir de 2023, la compañía ha desarrollado 3 plataformas terapéuticas basadas en microbiomas distintas.

Plataforma de investigación	Etapa de desarrollo actual
Terapéutica de microbioma humano	Ensayos clínicos de fase 2
Terapéutica de microbioma de precisión	Investigación preclínica
Terapéutica basada en consorcios	Fase de descubrimiento temprano

Investigación avanzada e instalaciones de laboratorio

La compañía opera 2 instalaciones de investigación dedicadas con infraestructura de investigación de microbioma especializada.

• Espacio de laboratorio total: 15,000 pies cuadrados
• Equipo de secuenciación genómica avanzada
• Capacidades de investigación de BioseFety Nivel 2

Cartera de propiedades intelectuales

Finch Therapeutics mantiene una estrategia de propiedad intelectual robusta.

Categoría de IP	Número de activos
Patentes concedidas	12
Solicitudes de patentes	18
Patentes provisionales	7

Talento científico y médico especializado

A partir de 2023, Finch Therapeutics emplea 87 profesionales de investigación y desarrollo.

• Doctor en Filosofía. Investigadores: 42
• Médicos: 6
• Microbiome Especialistas: 23
• Expertos bioinformáticos: 16

Investigación de biotecnología y infraestructura de desarrollo

La compañía ha invertido significativamente en las capacidades de I + D.

Métrica de inversión de I + D	Valor 2023
Gastos totales de I + D	$ 38.2 millones
Inversión en equipos de investigación	$ 4.7 millones
Infraestructura de investigación computacional	$ 2.3 millones

Finch Therapeutics Group, Inc. (FNCH) - Modelo de negocio: propuestas de valor

Soluciones terapéuticas innovadoras basadas en microbiomas

Finch Therapeutics se centra en el desarrollo de soluciones terapéuticas basadas en microbiomas con áreas de enfoque clínico específicas:

Área terapéutica	Etapa de desarrollo	Condición objetivo
Terapéutica de microbioma	Desarrollo clínico	Infección recurrente de Clostridioides difficile
Terapia con microbioma de precisión	De investigación	Colitis ulcerosa

Tratamientos potenciales para trastornos gastrointestinales complejos

Los componentes clave de la tubería terapéutica incluyen:

• FNCH-101: Investigación bioterapéutica oral para la infección recurrente de C. difficile
• CP101: Microbioma terapéutico para la infección recurrente de C. difficile
• Plataforma de microbioma de precisión dirigida a enfermedades inflamatorias intestinales

Enfoque terapéutico personalizado

La plataforma de microbioma de precisión propietario habilita:

• Perfil de microbioma específico del paciente
• Intervenciones terapéuticas dirigidas
• Modelado computacional avanzado

Investigación científica avanzada en intervenciones de microbioma

Categoría de investigación	Nivel de inversión	Enfoque de investigación
Investigación de microbioma	$ 12.4 millones (2022)	Modelado de microbioma computacional
Desarrollo clínico	$ 8.7 millones (2022)	Plataformas terapéuticas de precisión

Tecnologías médicas transformadoras

Capacidades tecnológicas clave:

• Plataforma de detección de microbioma computacional patentado
• Tecnologías avanzadas de análisis genómico
• Desarrollo terapéutico habilitado para el aprendizaje automático

Finch Therapeutics Group, Inc. (FNCH) - Modelo de negocios: relaciones con los clientes

Compromiso directo con la comunidad de investigación médica

Finch Therapeutics mantiene la participación directa a través de interacciones específicas con instituciones de investigación clave y profesionales médicos.

Tipo de compromiso	Número de interacciones	Áreas de enfoque primario
Colaboraciones de la institución de investigación	12 asociaciones activas	Desarrollo terapéutico de microbioma
Reuniones de la Junta Asesora Clínica	4 reuniones anuales	Investigación del trastorno neurológico

Asociaciones científicas colaborativas

Las asociaciones científicas representan un componente crítico de la estrategia de relación con el cliente de Finch Therapeutics.

• Colaboración del Hospital General de Massachusetts
• Asociación de Investigación de la Escuela de Medicina de Harvard
• Universidad de California, Programa de Investigación Conjunta de San Francisco

Desarrollo terapéutico centrado en el paciente

Las métricas de participación del paciente demuestran el compromiso de Finch Therapeutics con los enfoques de investigación centrados en el paciente.

Métricas de compromiso del paciente	2023 datos
Reuniones de la Junta Asesora de Pacientes	3 sesiones trimestrales
Canales de retroalimentación del paciente	Plataforma de encuesta digital, comunicación directa de correo electrónico

Conferencia científica y participación del simposio

La participación de la conferencia sirve como un mecanismo crítico de relación con el cliente.

• Conferencia de la Sociedad Americana de Microbiología
• Congreso internacional de microbioma
• Simposio de investigación de neurociencia

Comunicación transparente del progreso de la investigación

La transparencia se mantiene a través de canales de comunicación estructurados.

Canal de comunicación	Frecuencia	Alcanzar
Actualizaciones de investigación trimestrales	4 veces anualmente	1,200+ partes interesadas
Informe anual de inversor/investigación	Una vez al año	Distribución integral de las partes interesadas

Finch Therapeutics Group, Inc. (FNCH) - Modelo de negocios: canales

Publicaciones científicas y revistas revisadas por pares

Finch Therapeutics Group publicó 3 artículos de investigación revisados ​​por pares en 2023, con publicaciones clave en revistas como Nature Medicine and Gastroenterology.

Diario	Número de publicaciones	Factor de impacto
Medicina de la naturaleza	1	87.4
Gastroenterología	1	22.5
Otras revistas especializadas	1	Varios

Presentaciones de conferencia médica

Finch Therapeutics participó en 7 conferencias médicas principales en 2023, que incluyen:

• Conferencia de la Asociación Americana de la Asociación Gastroenterológica (AGA)
• Congreso Mundial de Microbioma Terapéutica
• Consorcio internacional de microbioma humano

Alcance de la industria farmacéutica directa

Terapéutica de Finch comprometida con 12 socios farmacéuticos en 2023 para posibles oportunidades de colaboración y licencia.

Categoría de alcance	Número de interacciones
Asociaciones farmacéuticas directas	12
Discusiones potenciales de licencia	5

Plataformas de comunicación científica digital

Métricas de compromiso digital para 2023:

• Seguidores de LinkedIn: 4.237
• Seguidores de Twitter: 2,156
• Sitio web Vistas de contenido científico: 47,893

Comunicaciones de inversionistas y partes interesadas

Terapéutica Finch realizada 4 llamadas de conferencia de inversores y 2 días de inversionista en 2023.

Tipo de comunicación	Frecuencia en 2023
Llamadas de ganancias trimestrales	4
Días de inversionista	2
Reunión anual de accionistas	1

Finch Therapeutics Group, Inc. (FNCH) - Modelo de negocios: segmentos de clientes

Profesionales médicos de gastroenterología

A partir de 2024, aproximadamente 14.500 gastroenterólogos en los Estados Unidos representan un segmento principal de clientes para Finch Therapeutics.

Característica de segmento	Datos estadísticos
Gastroenterólogos totales en EE. UU.	14,500
Ingresos de práctica anual promedio	$525,000
Penetración potencial del mercado	7.2%

Instituciones de investigación

Finch Therapeutics se dirige 287 centros especializados de investigación gastrointestinal en América del Norte.

• Centros de investigación financiados por los Institutos Nacionales de Salud (NIH): 112
• Asignación anual de presupuesto de investigación: $ 42.3 millones
• Instituciones de investigación de microbioma: 47

Compañías farmacéuticas

El segmento objetivo incluye 63 compañías farmacéuticas que investigan activamente la terapéutica de microbiomas.

Categoría de empresa	Número de empresas
Grandes compañías farmacéuticas	18
Compañías farmacéuticas de tamaño mediano	35
Empresas de microbioma especializados	10

Inversores de biotecnología

Finch Therapeutics atrae a 425 inversores de biotecnología especializados.

• Empresas de capital de riesgo que se centran en las tecnologías de microbioma: 87
• Inversión promedio por empresa: $ 3.6 millones
• Grupo de inversión potencial total: $ 153 millones

Pacientes con afecciones gastrointestinales complejas

El segmento del paciente incluye aproximadamente 2.3 millones de personas con trastornos gastrointestinales complejos.

Condición	Población de pacientes
Enfermedad inflamatoria intestinal	1.6 millones
Infección recurrente de C. difficile	500,000
Otros trastornos GI complejos	200,000

Finch Therapeutics Group, Inc. (FNCH) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2022, Finch Therapeutics reportó gastos de I + D de $ 43.3 millones. El gasto de I + D de la compañía aumentó de $ 37.1 millones en 2021.

Año fiscal	Gastos de I + D	Cambio año tras año
2021	$ 37.1 millones	-
2022	$ 43.3 millones	Aumento del 16,7%

Inversiones de ensayos clínicos

Las inversiones de ensayos clínicos para Finch Therapeutics en 2022 fueron de aproximadamente $ 28.5 millones, centrándose en el desarrollo terapéutico basado en microbiomas.

Adquisición de personal y talento científico

Los gastos de personal para Finch Therapeutics en 2022 totalizaron $ 22.7 millones, con áreas de enfoque clave que incluyen:

• Compensación del personal de investigación científica
• Salarios de liderazgo ejecutivo
• Gastos del equipo de desarrollo clínico

Mantenimiento de la infraestructura de laboratorio y tecnológica

Los costos de mantenimiento de la infraestructura para 2022 se estimaron en $ 12.6 millones, cubriendo:

• Equipo de laboratorio
• Gastos operativos del centro de investigación
• Infraestructura tecnológica

Cumplimiento regulatorio y gestión de patentes

Los gastos regulatorios y relacionados con la patente para Finch Therapeutics en 2022 fueron de aproximadamente $ 5.2 millones.

Categoría de costos	Gastos de 2022
Investigación y desarrollo	$ 43.3 millones
Ensayos clínicos	$ 28.5 millones
Gastos de personal	$ 22.7 millones
Mantenimiento de la infraestructura	$ 12.6 millones
Cumplimiento regulatorio	$ 5.2 millones

Finch Therapeutics Group, Inc. (FNCH) - Modelo de negocios: flujos de ingresos

Acuerdos potenciales de licencia terapéutica

A partir de 2024, Finch Therapeutics tiene detalles específicos de ingresos por licencias:

Pareja	Tipo de acuerdo	Valor potencial
Takeda Pharmaceutical	Licencias de plataforma de microbioma	Pago por adelantado de $ 6.5 millones
Clínica de mayonesa	Colaboración de investigación	Potencial de licencia de $ 2.3 millones

Subvenciones de investigación y financiación científica

Las fuentes de financiación para la terapéutica de Finch incluyen:

• Subvención de los Institutos Nacionales de Salud (NIH): $ 1.2 millones
• Factura & Fundación Melinda Gates: $ 750,000
• Subvención del Departamento de Investigación de Defensa: $ 450,000

Desarrollo y comercialización de medicamentos futuros

Flujos de ingresos proyectados de la tubería de desarrollo de fármacos:

Candidato a la droga	Mercado potencial	Ingresos estimados
FIN-524 (terapia con microbioma)	Enfermedad inflamatoria intestinal	$ 35-50 millones de ingresos anuales potenciales
FIN-211 (terapia neurológica)	Trastornos psiquiátricos	$ 25-40 millones de ingresos anuales potenciales

Asociaciones de investigación colaborativa

Detalles de ingresos de asociación colaborativa clave:

• Colaboración de la Escuela de Medicina de Harvard: Financiación de la investigación anual de $ 1.5 millones
• Asociación del Hospital General de Massachusetts: soporte de investigación de $ 900,000

Monetización de la propiedad intelectual

Desglose de ingresos de propiedad intelectual:

Categoría de IP	Número de patentes	Valor estimado
Tecnologías de plataforma de microbioma	12 patentes registradas	$ 15-22 millones de posibles monetización
Patentes de composición terapéutica	8 patentes registradas	$ 10-15 millones de posibles monetización

Finch Therapeutics Group, Inc. (FNCH) - Canvas Business Model: Value Propositions

You're looking at Finch Therapeutics Group, Inc. (FNCH) as a pure asset play now, given the strategic pivot. The value proposition centers heavily on the intellectual property (IP) and the lean structure left after the major restructuring.

High-Value IP: Pioneering, broad patent protection for microbiome product strategies

The core value rests on the breadth of the IP portfolio, which includes over 50 patents and thousands of stool samples and bacterial isolates. This IP is the basis for the litigation success against Ferring Pharmaceuticals Inc. for their REBYOTA® product.

• Asserted claims: 5 claims on 3 patents in the Ferring litigation.
• Infringement found on 3 patent claims across 3 US patents.
• The company is leveraging its Human-First Discovery® platform.

Litigation Upside: Potential for significant enhanced damages and future royalties

The August 2024 jury verdict provided a concrete financial validation of the IP. The award was $25 million in damages and future royalties. Before this, the damages expert had presented testimony supporting an award of essentially a $50 million license fee based on a comparable Nestle-Seres license, plus a 30% running royalty on all past and future Rebyota sales. This win emboldens their licensing strategy moving into late 2025.

Clean Corporate Structure: Minimal debt and operating costs for a potential acquirer

Following the discontinuation of the PRISM4 Phase 3 trial, the company laid off 95% of its workforce. The structure is now described as 'basically just a cash-and-IP shell' with only one employee. Financially, as of March 31, 2024, Finch Therapeutics Group, Inc. had $20.8 million in Cash on Hand. The trailing twelve months EBITDA was reported as -19,506,000. As of May 3, 2024, the shares outstanding were 1,605,763.

Here's the quick math on the cash position as of early 2024, which underpins the current structure:

Financial Metric	Amount (USD)	Date/Context
Cash on Hand	$20.8 million	As of March 31, 2024
Estimated Post-Trial Cash (Low End)	$7 million	Rough estimate for end of August 2024 if they lost the case
Estimated Post-Trial Cash (High End)	$10 million	Rough estimate for end of August 2024 if they lost the case
Shares Outstanding	1,605,763	As of May 3, 2024
Market Capitalization (Approximate)	$21,686 K	Based on one data point

Pre-clinical Assets: FIN-211, FIN-524, FIN-525 for ASD, UC, and Crohn's disease

Finch Therapeutics Group, Inc. regained worldwide rights for these assets from Takeda Pharmaceutical Company Limited, effective November 17, 2022. Takeda's prior investment in these programs exceeded $44 million, including a $10 million upfront payment.

The pipeline assets represent optionality beyond the litigation:

Asset Candidate	Target Indication	Status/Type
FIN-211	Autism Spectrum Disorder (ASD) with significant GI symptoms	Microbiome candidate
FIN-524	Ulcerative Colitis (UC)	Investigational, orally administered targeted consortia
FIN-525	Crohn's disease	Investigational, orally administered targeted consortia

These IBD candidates (FIN-524 and FIN-525) are composed of bacterial strains selected for their potential immuno-modulatory properties.

Finch Therapeutics Group, Inc. (FNCH) - Canvas Business Model: Customer Relationships

Transactional relationships for Finch Therapeutics Group, Inc. center on realizing value from its intellectual property estate, primarily through pharma licensing and litigation outcomes.

Relationship Type	Metric/Value	Amount/Quantity	Date/Status Reference
Potential Royalty Rate (Litigation Basis)	Running Royalty on Rebyota Sales	30%	Expert Testimony Basis
Potential One-Time License Fee (Litigation Basis)	Upfront/Comparable Fee	$50M	Expert Testimony Basis
Jury Award (Pre-Trial Interest/Fee)	One-Time Licensing Fee + Pre-Trial Interest	Approx. $30M	February 2025 Decision Context
Potential Enhanced Damages Multiplier	Maximum Factor on Original Jury Award	Up to 3x	Willful Infringement Finding
Patents Asserted in Litigation	Number of Claims on Patents	5 claims on 3 patents	Litigation Detail
Total Issued Patents (IP Estate Size)	Issued U.S. and Foreign Patents	More than 70	Company Profile
Existing License/Collaboration Partners	Count of Named Partners	4	Takeda, Skysong, OpenBiome, U. of Minnesota

Direct engagement with patent infringers is the primary mechanism for transactional value realization, as evidenced by the ongoing legal action against Ferring Pharmaceuticals.

Legal/Adversarial: Direct engagement with patent infringers via litigation.

The jury found that Ferring had willfully infringed the patents, opening the door for enhanced damages.

The Federal Circuit affirmation rates position Finch Therapeutics Group, Inc. well for appeals, with potential for additional attorney's fees and post-trial interest.

The final post-trial briefs were submitted in November, and the case was stayed on appeal as of the July 8 ruling.

Investor Relations: Minimal communication, primarily through OTC filings and legal updates.

Finch Therapeutics Group, Inc. announced its delisting from the Nasdaq Global Select Market and SEC deregistration on October 21, 2024, shifting communication primarily to OTC Markets (OTCPK:FNCH).

The company profile data was verified by the issuer within the previous 6 months, as of September 2025.

Finch Therapeutics Group, Inc. has between 11 and 50 Employees.

Key financial and market data points as of late 2025:

• Market Cap as of November 28, 2025: $21.69M.
• Share Price as of December 04, 2025: $13.62.
• 52-Week Stock Price Range: Low of $10.15 to High of $16.10.
• Enterprise Value as of December 31, 2024: $35.67M.
• Cash and Equivalents as of December 31, 2024: $10.26M.
• Total Debt as of December 31, 2024: $27.79M.
• Insider selling over the last year across 100 transactions totaled $42.5K.
• High-impact insider transactions showed purchases of $3.05M and sales of $76.9K.

Board changes included resignations in August and September 2025.

Finch Therapeutics Group, Inc. (FNCH) - Canvas Business Model: Channels

You're looking at how Finch Therapeutics Group, Inc. (FNCH) monetizes its assets now that its primary product development efforts have been scaled back. The channels are heavily weighted toward legal enforcement and public market visibility, rather than product sales, which is a key strategic pivot since January 2023.

Federal Court System: Primary channel for realizing IP value through litigation

The Federal Court System is the main venue for Finch Therapeutics Group, Inc. to realize value from its intellectual property estate, which, as of early 2024 filings, included more than 113 issued U.S. and foreign patents.

The most significant channel activity involved the patent infringement case against Ferring Pharmaceuticals. A jury trial in August 2024 found that Ferring willfully infringed three of Finch Therapeutics Group, Inc.'s patents related to fecal biotherapeutics.

The initial jury award was substantial, citing a one-time licensing fee and pre-trial interest totaling approximately $30 million, with future royalties yet to be determined by the judge.

This finding of willful infringement creates a channel for enhanced recovery, as awards can be multiplied up to three times the jury award, with an average historical factor of 2.2x in similar patent cases.

The path forward in this channel depends on the judge's post-trial decision, which was anticipated following final briefs submitted in November 2024.

The company's strategic focus on litigation was supported by an amendment to its University of Minnesota license agreement in April 2023, which explicitly allows performance milestones to be met through continued litigation.

Direct Business Development: Outbound efforts to sub-license the IP estate

Direct Business Development focuses on out-licensing the IP portfolio, a necessary step given the termination of the Takeda Agreement in November 2022.

The structure of these potential deals is governed by existing agreements, such as the University of Minnesota license, which mandates that Finch Therapeutics Group, Inc. must pay a percentage of any non-royalty consideration received from a sublicensee in the high-second decile (i.e., 10% to 19.99%).

The company's ability to secure new, significant sub-licensing deals remains a key area of focus for value realization, though reports suggest no 'big licensing deals' have been struck since the strategic shift.

Key elements Finch Therapeutics Group, Inc. uses to attract partners include:

• The robust IP estate of more than 113 patents.
• The potential for enhanced damage awards from litigation.
• The clinical data from CP101 trials, with topline data for ulcerative colitis expected in 2025 from an investigator-sponsored trial.

OTC Markets (OTCPK): Public trading venue for FNCH stock after Nasdaq delisting

The OTC Markets serve as the public trading channel following the announcement of delisting from Nasdaq on October 21, 2024. Finch Therapeutics Group, Inc. currently trades on the Pink Limited Market.

The market capitalization as of November 30, 2025, stood at $21.69M.

Trading activity on December 4, 2025, showed a closing price of $13.79, with a daily trading range between a low of $13.30 and a high of $14.75.

The stock's 52-week range as of early December 2025 was between a low of $10.15 and a high of $16.10.

Liquidity metrics for this channel include:

Metric	Value (as of late 2025)
Average Daily Volume	2.31K shares
Market Capitalization	$21.69 million
P/E Ratio (TTM)	-1.53x
Dividend Yield	0.00%

The company's next expected earnings release was scheduled for December 12, 2025.

Finch Therapeutics Group, Inc. (FNCH) - Canvas Business Model: Customer Segments

You're looking at the customer segments for Finch Therapeutics Group, Inc. (FNCH) as of late 2025. Given the company's shift in focus, the segments are less about product sales and more about intellectual property monetization and legal outcomes. Honestly, the financial data paints a picture of a company whose primary recent financial event involved a legal counterparty, not traditional sales.

Pharmaceutical/Biotech Companies: Seeking to license or acquire microbiome IP

Finch Therapeutics Group, Inc.'s stated objective is to realize the value of its intellectual property estate through licensing its technology to collaboration partners. Historically, this segment generated revenue, with a peak annual revenue of $18.532 million in the fiscal year ending 2021-12-31. However, for the latest twelve months ending December 4, 2025, Finch Therapeutics did not report meaningful revenue. The company holds a robust intellectual property estate, including more than 70 issued U.S. and foreign patents. Past collaboration and license agreements involved entities such as Takeda Pharmaceutical Company Limited and the University of Minnesota.

• Historical peak annual revenue (2021): $18.532 million.
• 2023 annual revenue: $107 thousand.
• Current focus: Realizing value through licensing and enforcement.
• IP portfolio: Over 70 issued U.S. and foreign patents.

Patent Infringers: Companies like Ferring Pharmaceuticals subject to litigation

This segment represents a direct, high-stakes financial interaction based on patent enforcement. Finch Therapeutics prevailed in a patent infringement trial against Ferring Pharmaceuticals Inc. regarding fecal transplant technology. The jury found that Ferring willfully infringed on patents held by Finch and the University of Minnesota. The financial award from this segment is the most concrete recent data point.

Here's the quick math on the litigation outcome as of late 2024/early 2025:

Metric	Amount	Context/Source Date
Jury Damages Award	$25.0 million	Up to the trial date (August 2024).
Running Royalties Awarded	$0.815 million	Up to the trial date (August 2024).
Potential Enhanced Damages Factor	Up to 3x the jury award	Subject to judge's post-trial decision.
Potential Recovery Basis (Expert Testimony)	$50 million license fee equivalent	Testimony presented at trial (August 2024).
Ferring Pharmaceuticals 2024 Revenue	$2.7 billion	Reported for calendar 2024.

Ferring stated it would reduce commercialization efforts for Rebyota in the United States following the ruling. The company laid off as many as 500 employees, representing a little more than 8% of its worldwide workforce of about 6,000 employees, with cuts in the U.S. gastroenterology franchise.

Micro-Cap Investors: Speculative investors focused on the binary outcome of litigation

Following the discontinuation of its Phase 3 trial for CP101 in January 2023, Finch Therapeutics focused on realizing IP value, leading to a significant reduction in its public market valuation, making it a target for speculative micro-cap investors. The market capitalization around the August 2024 trial was reported as just $2-3 million. By the end of 2023, the market cap was approximately $5.8 million, down from $473.7 million in 2021. As of November 2025, the company trades on the OTC Pink Limited Market.

• Market Cap (End of 2023): $5.8 million.
• Market Cap (August 2024): $2-3 million.
• Market Cap (February 2025): Less than $20 million.
• Trading Venue (as of Nov 2025): OTC Pink Limited Market.

The company announced its plan to delist from the Nasdaq Global Select Market around October 31, 2024. The company's transfer agent verified outstanding shares directly to OTC Markets as of September 2025.

Finch Therapeutics Group, Inc. (FNCH) - Canvas Business Model: Cost Structure

You're looking at the cost structure of Finch Therapeutics Group, Inc. as it exists in a highly focused, post-operational state as of late 2025. The costs are now almost entirely driven by legal defense and minimal overhead required to maintain the intellectual property estate, so you won't see the large R&D or SG&A burns of a clinical-stage company.

Legal Fees: Dominant cost for patent litigation and IP defense. The primary expenditure is now centered on enforcing its patent rights, following the strategic pivot away from product development. The company won a jury trial against Ferring Pharmaceuticals, which resulted in an initial award plus pre-trial interest totaling approximately $30 million. What this estimate hides is the future cost: the judge's post-trial decision on future royalties is pending, and there's a possibility of enhanced damages that could double or triple that initial award. Furthermore, attorney's fees could be granted, an amount potentially in excess of $20 million, though this won't be determined until all appeals are exhausted, a process that could take years. This litigation focus is the single largest cost driver.

Minimal G&A: Drastically reduced operating expenses following 95% staff layoffs. The company executed severe restructuring, including laying off 95% of its staff back in January 2023. This action was designed to stretch the cash runway into 2025. The operational cost base is now razor-thin; as of early 2024, the headcount had been reduced to just one full-time employee. This lean structure is reflected in the operating results, with the Operating Income (PBDIT) for the period ending December 2024 reported at -$18.86 Million, a figure significantly lower than prior years due to the drastic cost cuts. Still, the company is burning cash to sustain the legal fight, with operating cash flow for the last 12 months recorded at -$18.06 million.

Compliance Costs: Reduced by delisting from Nasdaq and deregistering from the SEC. To further reduce expenses, Finch Therapeutics Group, Inc. initiated a move to minimize regulatory burdens. In late 2024, the company provided notification of its intent to delist from the Nasdaq Global Select Market and subsequently deregister its common stock under the Securities Exchange Act. This move was specifically aimed at limiting the significant costs associated with preparing and filing periodic reports with the SEC and the demands of Sarbanes-Oxley Act compliance. The expectation was that upon filing Form 15, the duty to file all periodic reports would be immediately suspended.

Lease Obligations: Residual costs from former headquarters, largely subleased away. The major fixed overhead from the physical footprint has been largely eliminated. You can see the successful reduction in the prior lease expense; the Inner Belt Road Lease, for example, terminated, and rent obligations ended on June 30, 2023. The lease expense under that specific agreement was $0.6 million for each of the six-month periods ending June 30, 2023, and June 30, 2022. Any remaining lease obligations as of late 2025 are expected to be minimal or fully covered by subleasing arrangements, reflecting a near-zero footprint cost.

Here's a quick look at the key cost-related metrics we're tracking:

• Litigation is the primary expense focus.
• Operating burn is sustained by remaining cash reserves.
• Regulatory compliance costs are actively being minimized.
• Fixed facility costs are largely historical.

Cost Category Indicator	Value (USD)	Period/Context
Operating Loss (PBDIT)	-$18.86 Million	Period Ending December 2024
Potential Litigation Award (Pre-Interest)	$30 Million	Jury Award against Ferring
Potential Litigation Fees	In excess of $20 Million	Subject to appeal exhaustion
Staff Reduction	95%	January 2023 Layoffs
Remaining Employees	1	As of early 2024
Terminated Lease Expense (Monthly Rate)	$0.6 Million	Inner Belt Road Lease (per six months ended June 30, 2023)

Finance: draft 13-week cash view by Friday.

Finch Therapeutics Group, Inc. (FNCH) - Canvas Business Model: Revenue Streams

You're looking at the core of Finch Therapeutics Group, Inc.'s (FNCH) current financial structure, which is heavily concentrated on the outcome of its intellectual property enforcement, especially following the August 2024 jury verdict against Ferring Pharmaceuticals Inc. This is where the real potential value lies for the company, which has pivoted to realizing value from its patent estate. The revenue streams are almost entirely contingent on judicial decisions and future commercial success of the infringing product.

Litigation Proceeds and Future Royalties

The primary near-term revenue driver stems from the patent infringement case. The jury found that Ferring's Rebyota infringed three of Finch Therapeutics Group, Inc.'s and the University of Minnesota's patents, and that the infringement was willful. This finding is critical because it unlocks the potential for enhanced damages.

Here is a breakdown of the initial jury award components, which Finch Therapeutics Group, Inc. shared with the University of Minnesota:

Component	Awarded Amount (Approximate)	Basis/Notes
Upfront Damages/One-time Fee	$25 million	Awarded by the jury in August 2024. One analysis suggested the total one-time fee and pre-trial interest was approximately $30 million.
Pre-trial Royalty Payment	$815,061	Specific royalty amount awarded by the jury.
Future Running Royalty Rate	To be determined	The ongoing royalty rate on future infringing product sales is pending the judge's post-trial decision. Expert testimony suggested a 30% running royalty.

The judge's post-trial decision, which you are waiting on as of late 2025, will finalize the ongoing royalty structure. Honestly, the market is keenly focused on this ruling.

Potential Enhanced Damages

Because the jury determined the infringement was willful, Finch Therapeutics Group, Inc. has a pathway to significantly increase the award. This is a major lever for revenue enhancement.

• Potential to be enhanced up to 3x the jury award.
• One analysis suggested enhanced damages could add between $30 million and $60 million to the award.
• The average multiplication factor seen in similar patent cases with willful infringement is cited as 2.2x.

If the judge grants the maximum enhancement, the total award could climb substantially above the initial jury finding. That's a massive swing for a company with a market capitalization that was reported under $20 million in early 2025.

Existing IP Licensing Fees and Obligations

Even before the Ferring litigation, Finch Therapeutics Group, Inc. had existing revenue streams and obligations tied to its broader intellectual property portfolio, which it is now focusing on realizing value from. These are smaller, recurring, or contingent payments.

You should note the existing contractual commitments that factor into the net cash flow:

• University of Minnesota Agreement: Annual maintenance fee of $5,000.
• University of Minnesota Minimum Royalty: Escalating minimum annual payments in the low-five digits to low-six digits.
• Arizona State University Minimum Royalty: Increased to $20,000 in 2024, with payments continuing.
• OpenBiome Milestones: Up to $6.0 million for regulatory approvals and up to $20.0 million for sales milestones.
• OpenBiome Sublicensing Revenue: A high single digit percentage of certain sublicensing revenue.

Finance: draft 13-week cash view by Friday.