Finch Therapeutics Group, Inc. (FNCH): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde de pointe de la recherche sur le microbiome, Finch Therapeutics Group, Inc. (FNCH) émerge comme une force pionnière transformant des paradigmes de traitement gastro-intestinal complexes. En tirant parti de l'expertise scientifique avancée et des méthodologies de recherche innovantes, cette entreprise de biotechnologie est prête à révolutionner des solutions thérapeutiques personnalisées grâce à des interventions révolutionnaires de microbiome. Leur modèle commercial complet représente une approche sophistiquée pour répondre aux besoins de santé non satisfaits, mélangeant l'innovation scientifique, les partenariats stratégiques et les technologies médicales transformatrices qui pourraient potentiellement remodeler la façon dont nous comprenons et traitons des conditions médicales difficiles.

Finch Therapeutics Group, Inc. (FNCH) - Modèle commercial: partenariats clés

Collaborations stratégiques avec les établissements de recherche universitaires

Finch Therapeutics a établi des partenariats avec les établissements universitaires suivants:

Institution	Focus de recherche	Détails de collaboration
Hôpital général du Massachusetts	Recherche de microbiome	Développement thérapeutique du microbiome en cours
Université de Californie, San Francisco	Microbiome gastro-intestinal	Collaboration de recherche clinique

Partenariats de développement pharmaceutique

Les principaux partenariats de développement pharmaceutique comprennent:

• Bristol Myers Squibb - Collaboration sur les plateformes thérapeutiques de microbiome
• Takeda Pharmaceutical - Contrat de recherche stratégique pour la thérapeutique microbiome

Consortiums de recherche sur les microbiomes

Finch Therapeutics participe aux réseaux de recherche de microbiome suivants:

Consortium	Focus de recherche	Statut d'adhésion
Projet de microbiome humain	Cartographie complète du microbiome	Membre actif
Consortium international de microbiome	Recherche mondiale de microbiome	Partenaire collaboratif

Collaborateurs du réseau d'essais cliniques

Les partenaires de collaboration des essais cliniques comprennent:

• Clinique Mayo - essais de maladies gastro-intestinales
• Université Johns Hopkins - essais thérapeutiques de microbiome
• Centre médical de Stanford - Essais de médecine de précision

Partners d'investissement potentiel de biotechnologie

Investissement potentiel et opportunités de partenariat stratégique avec:

Partenaire d'investissement	Type d'investissement	Focus d'investissement potentiel
Pionnier phare	Capital-risque	Plateforme thérapeutique de microbiome
Arch Venture Partners	Investissement stratégique	Recherche et développement du microbiome

Finch Therapeutics Group, Inc. (FNCH) - Modèle d'entreprise: activités clés

Recherche et développement thérapeutiques à base de microbiome

Depuis le Q4 2023, Finch Therapeutics s'est concentré sur le développement de la thérapeutique basée sur les microbiomes avec 3 programmes de stade clinique actif:

Programme	Zone thérapeutique	Étape de développement
CP101	Rectocolite hémorragique	Essai clinique de phase 2
CP255	La maladie de Crohn	Développement préclinique
CP352	Troubles neurologiques	Recherche préclinique

Gestion des essais précliniques et cliniques

L'investissement en essai clinique pour 2023 était d'environ 15,2 millions de dollars, les essais en cours visant des interventions thérapeutiques spécifiques au microbiome.

• 3 programmes de développement clinique actifs
• Recrutement en cours pour les patients pour les essais de phase 2
• Partenariats de recherche collaborative avec les établissements universitaires

Découverte et innovation de médicaments

Les dépenses de recherche et de développement pour 2023 ont totalisé 22,7 millions de dollars, dédiée aux innovations thérapeutiques du microbiome.

Focus de recherche	Investissement
Technologie de la plate-forme de microbiome	12,4 millions de dollars
Nouveaux candidats thérapeutiques	10,3 millions de dollars

Processus de conformité et de soumission réglementaires

Les activités réglementaires en 2023 comprenaient:

• Soumissions d'application de la FDA Investigational New Drug (IND)
• Conformité continue avec les protocoles d'essais cliniques
• Préparation de la documentation réglementaire pour CP101

Recherche scientifique et progrès des pipelines de produits

Le développement du pipeline de produits s'est concentré sur 3 domaines thérapeutiques clés avec un investissement total de recherche de 18,5 millions de dollars en 2023.

Catégorie de recherche	Allocation de financement
Troubles gastro-intestinaux	9,2 millions de dollars
Recherche neurologique	6,7 millions de dollars
Technologies de microbiome exploratoire	2,6 millions de dollars

Finch Therapeutics Group, Inc. (FNCH) - Modèle commercial: Ressources clés

Expertise scientifique au microbiome propriétaire

Finch Therapeutics Group possède des capacités de recherche de microbiome spécialisées en mettant l'accent sur le développement d'interventions thérapeutiques. Depuis 2023, la société a développé 3 plates-formes thérapeutiques distinctes à base de microbiome.

Plateforme de recherche	Étape de développement actuelle
Thérapeutique du microbiome humain	Essais cliniques de phase 2
Thérapeutique de microbiome de précision	Recherche préclinique
Thérapeutiques basés sur des consortiums	Phase de découverte précoce

Recherche avancée et installations de laboratoire

L'entreprise exploite 2 installations de recherche dédiées avec une infrastructure de recherche de microbiome spécialisée.

• Espace total de laboratoire: 15 000 pieds carrés
• Équipement de séquençage génomique avancé
• Capacités de recherche de niveau de biosécurité 2

Portefeuille de propriété intellectuelle

Finch Therapeutics maintient une solide stratégie de propriété intellectuelle.

Catégorie IP	Nombre d'actifs
Brevets accordés	12
Demandes de brevet	18
Brevets provisoires	7

Talent scientifique et médical spécialisé

En 2023, Finch Therapeutics utilise 87 professionnels de la recherche et du développement.

• doctorat Chercheurs: 42
• Médecins: 6
• Spécialistes du microbiome: 23
• Experts en bioinformatique: 16

Infrastructure de recherche et développement en biotechnologie

La société a investi considérablement dans les capacités de R&D.

Métrique d'investissement de R&D	Valeur 2023
Dépenses totales de R&D	38,2 millions de dollars
Investissement de l'équipement de recherche	4,7 millions de dollars
Infrastructure de recherche informatique	2,3 millions de dollars

Finch Therapeutics Group, Inc. (FNCH) - Modèle d'entreprise: propositions de valeur

Solutions thérapeutiques innovantes à base de microbiome

Finch Therapeutics se concentre sur le développement de solutions thérapeutiques à base de microbiome avec des domaines d'intervention clinique spécifiques:

Zone thérapeutique	Étape de développement	Condition cible
Thérapeutique microbiome	Développement clinique	Clostridioides récurrent infection difficile
Thérapie de microbiome de précision	Enquête	Rectocolite hémorragique

Traitements potentiels pour les troubles gastro-intestinaux complexes

Les composants clés du pipeline thérapeutique comprennent:

• FNCH-101: Biothérapeutique buccale recherchée pour l'infection récurrente de C. difficile
• CP101: Microbiome thérapeutique pour l'infection récurrente C. difficile
• Plateforme de microbiome de précision ciblant les maladies inflammatoires de l'intestin

Approche thérapeutique personnalisée

La plate-forme de microbiome de précision propriétaire permet:

• Profil de microbiome spécifique au patient
• Interventions thérapeutiques ciblées
• Modélisation informatique avancée

Recherche scientifique avancée dans les interventions de microbiome

Catégorie de recherche	Niveau d'investissement	Focus de recherche
Recherche de microbiome	12,4 millions de dollars (2022)	Modélisation du microbiome informatique
Développement clinique	8,7 millions de dollars (2022)	Plateformes thérapeutiques de précision

Technologies médicales transformatrices

Capacités technologiques clés:

• Plate-forme de dépistage de microbiome informatique propriétaire
• Technologies d'analyse génomique avancées
• Développement thérapeutique compatible avec l'apprentissage automatique

Finch Therapeutics Group, Inc. (FNCH) - Modèle d'entreprise: relations clients

Engagement direct avec la communauté de la recherche médicale

Finch Therapeutics maintient un engagement direct grâce à des interactions ciblées avec les principales institutions de recherche et les professionnels de la santé.

Type d'engagement	Nombre d'interactions	Domaines d'intervention primaire
Collaborations d'institution de recherche	12 partenariats actifs	Développement thérapeutique du microbiome
Réunions du conseil consultatif clinique	4 réunions annuelles	Recherche de troubles neurologiques

Partenariats scientifiques collaboratifs

Les partenariats scientifiques représentent un élément essentiel de la stratégie de relation client de Finch Therapeutics.

• Collaboration du Massachusetts General Hospital
• Partenariat de recherche de la Harvard Medical School
• Université de Californie, Programme de recherche conjoint de San Francisco

Développement thérapeutique axé sur les patients

Les mesures d'engagement des patients démontrent l'engagement de Finch Therapeutics envers les approches de recherche centrées sur le patient.

Métriques d'engagement des patients	2023 données
Réunions du conseil consultatif des patients	3 séances trimestrielles
Canaux de rétroaction du patient	Plateforme d'enquête numérique, communication par e-mail directe

Conférence scientifique et participation au symposium

L'engagement de la conférence sert de mécanisme de relation client essentiel.

• Conférence de l'American Society for Microbiology
• Congrès international du microbiome
• Symposium de recherche en neurosciences

Communication transparente des progrès de la recherche

La transparence est maintenue par le biais de canaux de communication structurés.

Canal de communication	Fréquence	Atteindre
Mises à jour de la recherche trimestrielle	4 fois par an	Plus de 1 200 parties prenantes
Rapport annuel des investisseurs / de la recherche	Une fois par an	Distribution complète des parties prenantes

Finch Therapeutics Group, Inc. (FNCH) - Modèle d'entreprise: canaux

Publications scientifiques et revues à comité de lecture

Finch Therapeutics Group a publié 3 articles de recherche évalués par des pairs en 2023, avec des publications clés dans des revues telles que la médecine de la nature et la gastro-entérologie.

Journal	Nombre de publications	Facteur d'impact
Médecine de la nature	1	87.4
Gastro-entérologie	1	22.5
Autres revues spécialisées	1	Divers

Présentations de la conférence médicale

Finch Therapeutics a participé à 7 conférences médicales majeures en 2023, notamment:

• Conférence de l'American Gastroenterological Association (AGA)
• Microbiome Therapeutics World Congress
• Consortium international sur le microbiome humain

Sensibilisation directe de l'industrie pharmaceutique

Finch Therapeutics s'est engagé avec 12 partenaires pharmaceutiques en 2023 pour les opportunités potentielles de collaboration et de licence.

Catégorie de sensibilisation	Nombre d'interactions
Partenariats pharmaceutiques directs	12
Discussions sur l'octroi de licences potentielles	5

Plateformes de communication scientifique numérique

Métriques d'engagement numérique pour 2023:

• LinkedIn adeptes: 4 237
• Twitter abonnés: 2 156
• Site Web Visives de contenu scientifique: 47 893

Communications des investisseurs et des parties prenantes

Finch Therapeutics mené 4 conférences téléphoniques des investisseurs et 2 jours d'investisseurs en 2023.

Type de communication	Fréquence en 2023
Appels de résultats trimestriels	4
Jours d'investisseurs	2
Réunion des actionnaires annuelle	1

Finch Therapeutics Group, Inc. (FNCH) - Modèle d'entreprise: segments de clientèle

Gastroenterology Medical Professionals

En 2024, environ 14 500 gastro-entérologues aux États-Unis représentent un segment de clientèle principal pour Finch Therapeutics.

Caractéristique du segment	Données statistiques
Gastro-entérologues totaux aux États-Unis	14,500
Revenus de pratique annuels moyens	$525,000
Pénétration potentielle du marché	7.2%

Institutions de recherche

Finch Therapeutics cible 287 centres de recherche gastro-intestinaux spécialisés en Amérique du Nord.

• Centres de recherche financés sur les National Institutes of Health (NIH): 112
• Attribution annuelle du budget de la recherche: 42,3 millions de dollars
• Institutions de recherche de microbiome: 47

Sociétés pharmaceutiques

Le segment cible comprend 63 sociétés pharmaceutiques qui recherchent activement la thérapeutique de microbiome.

Catégorie d'entreprise	Nombre d'entreprises
Grandes sociétés pharmaceutiques	18
Sociétés pharmaceutiques de taille moyenne	35
Entreprises de microbiome spécialisées	10

Investisseurs en biotechnologie

Finch Therapeutics attire 425 investisseurs spécialisés en biotechnologie.

• Cirmités de capital-risque se concentrant sur les technologies de microbiome: 87
• Investissement moyen par entreprise: 3,6 millions de dollars
• Pool d'investissement potentiel total: 153 millions de dollars

Patients atteints de conditions gastro-intestinales complexes

Le segment du patient comprend environ 2,3 millions de personnes atteintes de troubles gastro-intestinaux complexes.

Condition	Population de patients
Maladie inflammatoire de l'intestin	1,6 million
Infection récurrente de C. difficile	500,000
Autres troubles GI complexes	200,000

Finch Therapeutics Group, Inc. (FNCH) - Modèle d'entreprise: Structure des coûts

Dépenses de recherche et développement

Pour l'exercice 2022, Finch Therapeutics a déclaré des dépenses de R&D de 43,3 millions de dollars. Les dépenses en R&D de la société sont passées de 37,1 millions de dollars en 2021.

Exercice fiscal	Dépenses de R&D	Changement d'une année à l'autre
2021	37,1 millions de dollars	-
2022	43,3 millions de dollars	Augmentation de 16,7%

Investissements d'essais cliniques

Les investissements en essais cliniques pour la thérapeutique Finch en 2022 étaient d'environ 28,5 millions de dollars, axés sur le développement thérapeutique à base de microbiome.

Acquisition du personnel et des talents scientifiques

Les dépenses de personnel pour Finch Therapeutics en 2022 ont totalisé 22,7 millions de dollars, avec des domaines de mise au point clés, notamment:

• Compensation du personnel de recherche scientifique
• Salaires de leadership exécutif
• Dépenses de l'équipe de développement clinique

Maintenance des infrastructures en laboratoire et technologique

Les coûts de maintenance des infrastructures pour 2022 ont été estimés à 12,6 millions de dollars, couvrant:

• Équipement de laboratoire
• Dépenses opérationnelles de l'installation de recherche
• Infrastructure technologique

Conformité réglementaire et gestion des brevets

Les dépenses réglementaires et liées aux brevets pour les thérapies Finch en 2022 étaient d'environ 5,2 millions de dollars.

Catégorie de coûts	2022 dépenses
Recherche et développement	43,3 millions de dollars
Essais cliniques	28,5 millions de dollars
Dépenses du personnel	22,7 millions de dollars
Maintenance des infrastructures	12,6 millions de dollars
Conformité réglementaire	5,2 millions de dollars

Finch Therapeutics Group, Inc. (FNCH) - Modèle commercial: Strots de revenus

Accords de licence thérapeutique potentiels

En 2024, Finch Therapeutics a des détails spécifiques sur les revenus de licence:

Partenaire	Type d'accord	Valeur potentielle
Takeda Pharmaceutique	Licence de plate-forme de microbiome	6,5 millions de dollars de paiement initial
Clinique de mayo	Collaboration de recherche	Potentiel de licence de 2,3 millions de dollars

Subventions de recherche et financement scientifique

Les sources de financement pour les thérapies Finch comprennent:

• Grant des National Institutes of Health (NIH): 1,2 million de dollars
• Facture & Fondation Melinda Gates: 750 000 $
• Subvention de recherche du ministère de la Défense: 450 000 $

Développement et commercialisation futurs

Strots de revenus projetés du pipeline de développement de médicaments:

Drogue	Marché potentiel	Revenus estimés
FIN-524 (thérapie par microbiome)	Maladie inflammatoire de l'intestin	35 à 50 millions de dollars de revenus annuels potentiels
Fin-211 (thérapie neurologique)	Troubles psychiatriques	25 à 40 millions de dollars de revenus annuels potentiels

Partenariats de recherche collaborative

Détails des revenus de partenariat collaboratif clé:

• Collaboration de la Harvard Medical School: 1,5 million de dollars de financement de recherche annuel
• Massachusetts General Hospital Partnership: 900 000 $ Soutien de la recherche

Monétisation de la propriété intellectuelle

Répartition des revenus de la propriété intellectuelle:

Catégorie IP	Nombre de brevets	Valeur estimée
Technologies de plate-forme de microbiome	12 brevets enregistrés	15 à 22 millions de dollars monétisation potentielle
Brevets de composition thérapeutique	8 brevets enregistrés	10 à 15 millions de dollars de monétisation potentielle

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.