Finch Therapeutics Added to Russell 2000 and Russell 3000 Indexes
June 28 2021 - 7:00AM
Finch Therapeutics Group, Inc. (“Finch” or “Finch Therapeutics”)
(Nasdaq: FNCH), a clinical-stage microbiome therapeutics company
leveraging its Human-First Discovery® platform to develop a novel
class of orally administered biological drugs, today announced that
it was added to the Russell 2000 and Russell 3000 Indexes as part
of the 2021 Russell indexes annual reconstitution that took effect
after the market close on June 25, 2021.
The annual Russell indexes reconstitution
captures the 4,000 largest US stocks as of May 7, ranking them by
total market capitalization. Membership in the US all-cap Russell
3000 Index, which remains in place for one year, means automatic
inclusion in the large-cap Russell 1000 Index or small-cap Russell
2000 Index as well as the appropriate growth and value style
indexes. FTSE Russell determines membership for its indexes
primarily by objective, market-capitalization rankings and style
attributes. Approximately $10.6 trillion in assets are benchmarked
against Russell’s US indexes.
“We are pleased to be added to the Russell
indexes,” said Greg Perry, Chief Financial Officer of Finch
Therapeutics. “Finch’s inclusion will help broaden our exposure to
the investment community as we continue to advance the development
of several novel microbiome therapeutics, with our lead product
candidate positioned to enter a Phase 3 clinical trial and two
other innovative development programs slated to enter the clinic
this year.”
About Finch Therapeutics
Finch Therapeutics is a clinical-stage
microbiome therapeutics company leveraging its Human-First
Discovery® platform to develop a novel class of orally administered
biological drugs. With the capabilities to develop both complete
and targeted microbiome therapeutics, Finch is advancing a rich
pipeline of candidates designed to address a wide range of unmet
medical needs. Finch’s lead candidate, CP101, is in late-stage
clinical development for the prevention of recurrent C. difficile
infection (CDI), and has received Breakthrough Therapy and Fast
Track designations from the U.S. Food and Drug Administration. In
June 2020, Finch announced that CP101 met its primary efficacy
endpoint in PRISM3, the first of two pivotal trials to support the
development of CP101 for the prevention of recurrent CDI. Finch
plans to initiate a Phase 3 trial, referred to as PRISM4, as its
second pivotal trial of CP101 for recurrent CDI. Finch is also
developing CP101 for the treatment of chronic hepatitis B virus,
and FIN-211 for the treatment of the gastrointestinal and
behavioral symptoms of autism spectrum disorder. In partnership
with Takeda, Finch is advancing FIN-524 and FIN-525 for the
treatment of ulcerative colitis and Crohn’s disease,
respectively.
Forward-Looking Statements
Statements contained in this press release
regarding matters that are not historical facts are
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995, as amended. Words such as
"anticipates," "believes," "expects," "intends," “plans,”
“potential,” "projects,” “would” and "future" or similar
expressions are intended to identify forward-looking statements.
These forward-looking statements include, but are not limited to,
statements regarding: the initiation and timing of Finch’s clinical
trials, and Finch’s ability to advance the development of several
novel microbiome therapeutics. Because such statements are subject
to risks and uncertainties, actual results may differ materially
from those expressed or implied by such forward-looking statements.
These risks and uncertainties include, among others: Finch’s
limited operating history and historical losses; Finch’s ability to
raise additional funding to complete the development and any
commercialization of its product candidates; Finch’s dependence on
the success of its lead product candidate, CP101; the possibility
that Finch may be delayed in initiating, enrolling or completing
any clinical trials; results of clinical trials may not be
sufficient to satisfy regulatory authorities to approve Finch’s
product candidates in their targeted or other indications (or such
authorities may request additional trials or additional
information); results of clinical trials may not be indicative of
final or future results from later stage or larger clinical trials
(or in broader patient populations once the product is approved for
use by regulatory agencies) or may not be favorable or may not
support further development; Finch’s product candidates, including
CP101, may not generate the benefits to patients that are
anticipated; anticipated regulatory approvals may be delayed or
refused; competition from third parties that are developing
products for similar uses; Finch’s ability to maintain patent and
other intellectual property protection and the possibility that
Finch’s intellectual property rights may be infringed, invalid or
unenforceable or will be threatened by third parties; Finch’s
ability to qualify and scale its manufacturing capabilities in
anticipation of commencement of multiple global clinical trials;
Finch’s lack of experience in selling, marketing and distributing
its product candidates; Finch’s dependence on third parties in
connection with manufacturing, clinical trials and preclinical
studies; and risks relating to the impact and duration of the
COVID-19 pandemic on Finch’s business. These and other risks are
described more fully in Finch’s filings with the Securities and
Exchange Commission (“SEC”), including the section titled “Risk
Factors” in Finch’s Quarterly Report on Form 10-Q filed with the
SEC on May 13, 2021, as well as discussions of potential risks,
uncertainties, and other important factors in Finch’s other filings
with the SEC. All forward-looking statements contained in this
press release speak only as of the date on which they were made.
Except to the extent required by law, Finch undertakes no
obligation to update such statements to reflect events that occur
or circumstances that exist after the date on which they were
made.
Human-First Discovery® is a registered trademark
of Finch Therapeutics Group, Inc. Russell 3000®,
Russell 2000®, and Russell 1000® are registered trademarks of FTSE
Russell.
Media Contact:Jenna UrbanBerry
& Company Public Relationsjurban@berrypr.com212-253-8881
Investor Contact:Greg
Perryir@finchtherapeutics.com
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