Finch Therapeutics Group, Inc. (FNCH): Modelo de negócios Canvas [Jan-2025 Atualizado]

No mundo de ponta da pesquisa de microbiomas, o Finch Therapeutics Group, Inc. (FNCH) surge como uma força pioneira que transforma paradigmas complexos de tratamento gastrointestinal. Ao alavancar a experiência científica avançada e as metodologias inovadoras de pesquisa, esta empresa de biotecnologia está pronta para revolucionar soluções terapêuticas personalizadas por meio de intervenções inovadoras de microbioma. Seu modelo de negócios abrangente representa uma abordagem sofisticada para atender às necessidades não atendidas de saúde, misturando inovação científica, parcerias estratégicas e tecnologias médicas transformadoras que podem potencialmente remodelar como entendemos e tratamos condições médicas desafiadoras.

Finch Therapeutics Group, Inc. (FNCH) - Modelo de negócios: Parcerias -chave

Colaborações estratégicas com instituições de pesquisa acadêmica

A Finch Therapeutics estabeleceu parcerias com as seguintes instituições acadêmicas:

Instituição	Foco na pesquisa	Detalhes da colaboração
Hospital Geral de Massachusetts	Pesquisa de microbioma	Desenvolvimento terapêutico de microbioma em andamento
Universidade da Califórnia, São Francisco	Microbioma gastrointestinal	Colaboração de pesquisa clínica

Parcerias de desenvolvimento farmacêutico

As principais parcerias de desenvolvimento farmacêutico incluem:

• Bristol Myers Squibb - Colaboração em plataformas terapêuticas de microbioma
• Takeda Pharmaceutical - Acordo de Pesquisa Estratégica para Terapêutica de Microbioma

Consórcio de Pesquisa de Microbiomas

A Finch Therapeutics participa das seguintes redes de pesquisa de microbioma:

Consórcio	Foco na pesquisa	Status de associação
Projeto Microbioma humano	Mapeamento abrangente de microbioma	Membro ativo
Consórcio Internacional de Microbioma	Pesquisa global de microbiomas	Parceiro colaborativo

Colaboradores de rede de ensaios clínicos

Parceiros de colaboração de ensaios clínicos incluem:

• Mayo Clinic - ensaios de doença gastrointestinal
• Universidade Johns Hopkins - Trials terapêuticos de microbioma
• Stanford Medical Center - Precision Medicine Trials

Potenciais parceiros de investimento em biotecnologia

Potenciais oportunidades de investimento e parceria estratégica com:

Parceiro de investimento	Tipo de investimento	Foco potencial de investimento
Pioneiro principal	Capital de risco	Plataforma terapêutica de microbioma
Arch Venture Partners	Investimento estratégico	Pesquisa e desenvolvimento de microbiomas

Finch Therapeutics Group, Inc. (FNCH) - Modelo de negócios: Atividades -chave

Pesquisa e desenvolvimento terapêuticos baseados em microbioma

A partir do quarto trimestre 2023, a Finch Therapeutics se concentrou no desenvolvimento de terapêuticas baseadas em microbiomas com 3 programas ativos de estágio clínico:

Programa	Área terapêutica	Estágio de desenvolvimento
CP101	Colite ulcerativa	Ensaio clínico de fase 2
CP255	Doença de Crohn	Desenvolvimento pré -clínico
Cp352	Distúrbios neurológicos	Pesquisa pré -clínica

Gerenciamento de ensaios pré -clínicos e clínicos

O investimento em ensaios clínicos para 2023 foi de aproximadamente US $ 15,2 milhões, com ensaios em andamento direcionando intervenções terapêuticas específicas para microbiomas.

• 3 programas de desenvolvimento clínico ativos
• Recrutamento de pacientes em andamento para ensaios de fase 2
• Parcerias de pesquisa colaborativa com instituições acadêmicas

Descoberta e inovação de drogas

As despesas de pesquisa e desenvolvimento para 2023 totalizaram US $ 22,7 milhões, dedicadas às inovações terapêuticas do microbioma.

Foco na pesquisa	Investimento
Tecnologia da plataforma Microbiome	US $ 12,4 milhões
Novos candidatos terapêuticos	US $ 10,3 milhões

Processos de conformidade e envio regulatórios

Atividades regulatórias em 2023 incluíram:

• FDA Investigational New Drug (IND) Submissões de inscrição
• Conformidade contínua com protocolos de ensaios clínicos
• Preparação da documentação regulatória para CP101

Pesquisa científica e avanço do pipeline de produtos

O desenvolvimento do pipeline de produtos focou em três áreas terapêuticas -chave com investimento total de pesquisa de US $ 18,5 milhões em 2023.

Categoria de pesquisa	Alocação de financiamento
Distúrbios gastrointestinais	US $ 9,2 milhões
Pesquisa neurológica	US $ 6,7 milhões
Tecnologias exploratórias de microbioma	US $ 2,6 milhões

Finch Therapeutics Group, Inc. (FNCH) - Modelo de negócios: Recursos -chave

Microbiome Científicos de Microbioma Proprietário

O Finch Therapeutics Group possui recursos especializados de pesquisa de microbiomas, com foco no desenvolvimento de intervenções terapêuticas. A partir de 2023, a empresa desenvolveu 3 plataformas terapêuticas à base de microbioma distintas.

Plataforma de pesquisa	Estágio de desenvolvimento atual
Terapêutica de microbioma humano	Ensaios clínicos de fase 2
Terapêutica de microbioma de precisão	Pesquisa pré -clínica
Terapêutica baseada em consórcios	Fase de descoberta precoce

Pesquisa avançada e instalações de laboratório

A empresa opera 2 instalações de pesquisa dedicadas com infraestrutura especializada em pesquisa de microbiomas.

• Espaço total de laboratório: 15.000 pés quadrados
• Equipamento avançado de sequenciamento genômico
• Recursos de pesquisa de nível 2 de biossegurança

Portfólio de propriedade intelectual

A Finch Therapeutics mantém uma estratégia de propriedade intelectual robusta.

Categoria IP	Número de ativos
Patentes concedidas	12
Aplicações de patentes	18
Patentes provisórias	7

Talento científico e médico especializado

A partir de 2023, a Finch Therapeutics emprega 87 Profissionais de Pesquisa e Desenvolvimento.

• Ph.D. Pesquisadores: 42
• Médicos médicos: 6
• Especialistas em microbioma: 23
• Especialistas em bioinformática: 16

Infraestrutura de pesquisa e desenvolvimento de biotecnologia

A empresa investiu significativamente nos recursos de P&D.

Métrica de investimento em P&D	2023 valor
Despesas totais de P&D	US $ 38,2 milhões
Investimento em equipamentos de pesquisa	US $ 4,7 milhões
Infraestrutura de pesquisa computacional	US $ 2,3 milhões

Finch Therapeutics Group, Inc. (FNCH) - Modelo de negócios: proposições de valor

Soluções terapêuticas baseadas em microbiomas inovadores

A Finch Therapeutics se concentra no desenvolvimento de soluções terapêuticas baseadas em microbioma com áreas de foco clínico específicas:

Área terapêutica	Estágio de desenvolvimento	Condição alvo
Terapêutica de microbioma	Desenvolvimento Clínico	Infecção recorrente de Clostridioides difficile
Terapia com microbioma de precisão	Investigação	Colite ulcerativa

Tratamentos em potencial para distúrbios gastrointestinais complexos

Os componentes de pipeline terapêuticos -chave incluem:

• FNCH-101: Bioterapêutica oral de investigação para infecção recorrente de C. difficile
• CP101: Terapêutico de microbioma para infecção recorrente de C. difficile
• Plataforma de microbioma de precisão direcionando doenças inflamatórias intestinais

Abordagem terapêutica personalizada

A plataforma de microbioma de precisão proprietária permite:

• Perfil de microbioma específico do paciente
• Intervenções terapêuticas direcionadas
• Modelagem computacional avançada

Pesquisa científica avançada em intervenções de microbiomas

Categoria de pesquisa	Nível de investimento	Foco na pesquisa
Pesquisa de microbioma	US $ 12,4 milhões (2022)	Modelagem de Microbioma computacional
Desenvolvimento Clínico	US $ 8,7 milhões (2022)	Plataformas terapêuticas de precisão

Tecnologias médicas transformadoras

Capacidades tecnológicas -chave:

• Plataforma de triagem de microbioma computacional proprietário
• Tecnologias avançadas de análise genômica
• Desenvolvimento terapêutico habilitado para aprendizado de máquina

Finch Therapeutics Group, Inc. (FNCH) - Modelo de negócios: Relacionamentos do cliente

Engajamento direto com a comunidade de pesquisa médica

A Finch Therapeutics mantém o envolvimento direto por meio de interações direcionadas com instituições de pesquisa e profissionais médicos importantes.

Tipo de engajamento	Número de interações	Áreas de foco primário
Colaborações da instituição de pesquisa	12 parcerias ativas	Desenvolvimento terapêutico do microbioma
Reuniões do Conselho Consultivo Clínico	4 reuniões anuais	Pesquisa em transtorno neurológico

Parcerias científicas colaborativas

As parcerias científicas representam um componente crítico da estratégia de relacionamento com o cliente da Finch Therapeutics.

• Colaboração do Hospital Geral de Massachusetts
• Parceria de Pesquisa da Escola Médica de Harvard
• Universidade da Califórnia, Programa de Pesquisa Conjunta de São Francisco

Desenvolvimento terapêutico focado no paciente

As métricas de engajamento do paciente demonstram o compromisso da Finch Therapeutics com abordagens de pesquisa centradas no paciente.

Métricas de engajamento do paciente	2023 dados
Reuniões do conselho consultivo de pacientes	3 sessões trimestrais
Canais de feedback do paciente	Plataforma de pesquisa digital, comunicação direta por e -mail

Conferência Científica e Participação do Simpósio

O envolvimento da conferência serve como um mecanismo crítico de relacionamento com o cliente.

• Conferência da Sociedade Americana de Microbiologia
• Congresso Internacional do Microbioma
• Simpósio de pesquisa em neurociência

Comunicação transparente do progresso da pesquisa

A transparência é mantida através de canais de comunicação estruturados.

Canal de comunicação	Freqüência	Alcançar
Atualizações trimestrais de pesquisa	4 vezes anualmente	1.200 mais de partes interessadas
Relatório anual de investidores/pesquisa	Uma vez por ano	Distribuição abrangente das partes interessadas

Finch Therapeutics Group, Inc. (FNCH) - Modelo de negócios: canais

Publicações científicas e revistas revisadas por pares

O Finch Therapeutics Group publicou 3 artigos de pesquisa revisados ​​por pares em 2023, com publicações-chave em periódicos como Medicina Natural e Gastroenterologia.

Jornal	Número de publicações	Fator de impacto
Medicina da natureza	1	87.4
Gastroenterologia	1	22.5
Outros periódicos especializados	1	Vários

Apresentações da conferência médica

A Finch Therapeutics participou de 7 principais conferências médicas em 2023, incluindo:

• Conferência da Associação Gastroenterológica Americana (AGA)
• Microbiome Therapeutics World Congress
• Consórcio de Microbioma Humano Internacional

Extenção direta na indústria farmacêutica

Terapêutica de Finch envolvida com 12 parceiros farmacêuticos Em 2023, para possíveis oportunidades de colaboração e licenciamento.

Categoria de divulgação	Número de interações
Parcerias farmacêuticas diretas	12
Potenciais discussões de licenciamento	5

Plataformas de comunicação científica digital

Métricas de engajamento digital para 2023:

• Seguidores do LinkedIn: 4.237
• Seguidores do Twitter: 2.156
• Visualizações de conteúdo científico do site: 47.893

Comunicações de investidores e partes interessadas

Finch Therapeutics realizada 4 chamadas de conferência de investidores e 2 dias de investidores em 2023.

Tipo de comunicação	Frequência em 2023
Chamadas de ganhos trimestrais	4
Dias do investidor	2
Reunião Anual dos Acionistas	1

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

Profissionais médicos de gastroenterologia

A partir de 2024, aproximadamente 14.500 gastroenterologistas nos Estados Unidos representam um segmento de clientes primários para a terapêutica de Finch.

Característica do segmento	Dados estatísticos
Total gastroenterologistas em nós	14,500
Receita de prática anual média	$525,000
Penetração potencial de mercado	7.2%

Instituições de pesquisa

Finch Therapeutics Targets 287 Centros de Pesquisa Gastrointestinal Especializada na América do Norte.

• Institutos Nacionais de Saúde (NIH) Centros de Pesquisa: 112
• Alocação anual de orçamento de pesquisa: US $ 42,3 milhões
• Microbiome Research Institutions: 47

Empresas farmacêuticas

O segmento -alvo inclui 63 empresas farmacêuticas pesquisando ativamente a terapêutica de microbioma.

Categoria da empresa	Número de empresas
Grandes empresas farmacêuticas	18
Empresas farmacêuticas de tamanho médio	35
Empresas de microbioma especializadas	10

Investidores de biotecnologia

A Finch Therapeutics atrai 425 investidores especializados em biotecnologia.

• Empresas de capital de risco com foco nas tecnologias de microbioma: 87
• Investimento médio por empresa: US $ 3,6 milhões
• Pool de investimento potencial total: US $ 153 milhões

Pacientes com condições gastrointestinais complexas

O segmento de pacientes inclui aproximadamente 2,3 milhões de indivíduos com distúrbios gastrointestinais complexos.

Doença	População de pacientes
Doença inflamatória intestinal	1,6 milhão
Infecção recorrente de C. difficile	500,000
Outros distúrbios GI complexos	200,000

Finch Therapeutics Group, Inc. (FNCH) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2022, a Finch Therapeutics registrou despesas de P&D de US $ 43,3 milhões. Os gastos de P&D da empresa aumentaram de US $ 37,1 milhões em 2021.

Ano fiscal	Despesas de P&D	Mudança de ano a ano
2021	US $ 37,1 milhões	-
2022	US $ 43,3 milhões	Aumento de 16,7%

Investimentos de ensaios clínicos

Os investimentos em ensaios clínicos para terapêutica de Finch em 2022 foram de aproximadamente US $ 28,5 milhões, concentrando-se no desenvolvimento terapêutico baseado em microbioma.

Aquisição de funcionários e talentos científicos

As despesas de pessoal para terapêutica de Finch em 2022 totalizaram US $ 22,7 milhões, com áreas de foco importantes, incluindo:

• Compensação da equipe de pesquisa científica
• Salários de liderança executiva
• Despesas da equipe de desenvolvimento clínico

Manutenção de infraestrutura laboratorial e tecnológica

Os custos de manutenção de infraestrutura para 2022 foram estimados em US $ 12,6 milhões, cobrindo:

• Equipamento de laboratório
• Despesas operacionais da instalação de pesquisa
• Infraestrutura tecnológica

Conformidade regulatória e gerenciamento de patentes

As despesas regulatórias e relacionadas a patentes para terapêutica de Finch em 2022 foram de aproximadamente US $ 5,2 milhões.

Categoria de custo	2022 Despesas
Pesquisa e desenvolvimento	US $ 43,3 milhões
Ensaios clínicos	US $ 28,5 milhões
Despesas de pessoal	US $ 22,7 milhões
Manutenção de infraestrutura	US $ 12,6 milhões
Conformidade regulatória	US $ 5,2 milhões

Finch Therapeutics Group, Inc. (FNCH) - Modelo de negócios: fluxos de receita

Potenciais acordos de licenciamento terapêutico

A partir de 2024, a Finch Therapeutics possui detalhes específicos da receita de licenciamento:

Parceiro	Tipo de contrato	Valor potencial
Takeda Pharmaceutical	Licenciamento da plataforma Microbiome	Pagamento antecipado de US $ 6,5 milhões
Clínica Mayo	Colaboração de pesquisa	Potencial de licenciamento de US $ 2,3 milhões

Subsídios de pesquisa e financiamento científico

As fontes de financiamento para a terapêutica de Finch incluem:

• Grant do National Institutes of Health (NIH): US $ 1,2 milhão
• Conta & Melinda Gates Foundation: $ 750.000
• Concessão de pesquisa do Departamento de Defesa: US $ 450.000

Futuro desenvolvimento de medicamentos e comercialização

Fluxos de receita projetados do Pipeline de Desenvolvimento de Medicamentos:

Candidato a drogas	Mercado potencial	Receita estimada
Fin-524 (terapia com microbioma)	Doença inflamatória intestinal	Receita anual potencial de US $ 35-50 milhões
Fin-211 (terapia neurológica)	Distúrbios psiquiátricos	Receita anual potencial de US $ 25-40 milhões

Parcerias de pesquisa colaborativa

Detalhes da receita de parceria colaborativa -chave:

• Colaboração da Harvard Medical School: US $ 1,5 milhão de financiamento anual de pesquisa
• Parceria Hospital Geral de Massachusetts: Suporte de Pesquisa de US $ 900.000

Monetização da propriedade intelectual

Recutação de receita da propriedade intelectual:

Categoria IP	Número de patentes	Valor estimado
Tecnologias de plataforma de microbioma	12 patentes registradas	US $ 15-22 milhões em potencial monetização
Patentes de composição terapêutica	8 patentes registradas	US $ 10-15 milhões em potencial monetização

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.