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Finch Therapeutics Wins $26 Million Legal Judgment, Stock Soars 350%

Aug 11, 2024, 01:45 AM

Finch Therapeutics (FNCH), a microcap company, has been awarded a legal judgment totaling $26 million, including $25 million in damages and approximately $800,000 in royalties from ITD Rebyota sales. This outcome is significant for the company, which had a market cap of $6 million and cash reserves of around $15 million. The legal victory is expected to boost the company's cash position to over $40 million. The stock, which was valued at less than $1 with a market cap of $1.5 million as of June 2, has seen a substantial increase, rising by approximately 350% since the announcement of the legal judgment. This development marks a notable turnaround for Finch Therapeutics, potentially altering market perceptions of its financial stability.