One week after Takeda walked away, Finch faces second round of layoffs, pipeline pruning
Finch may be an inch underground at this point.
Somerville, MA-based Finch Therapeutics has had a rough year, starting with the FDA slapping a clinical hold on its late-stage C. difficile treatment in March. While that hold was lifted at the end of April, it had already taken its toll, with Finch laying off 37 of its workers and cutting its hepatitis B program in the interim.
Then, last week, Takeda ended its five-year alliance with the biotech, giving back global rights to two preclinical programs in ulcerative colitis and Crohn’s disease. In reaction to that, Finch is laying off an additional 50 employees, about another third of its workforce, according to an SEC filing this morning.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.