Finch Therapeutics Group, Inc. and three affiliates — Finch Therapeutics, Inc., Finch Therapeutics Holdings, LLC, and Finch Research & Development, LLC — are operating as debtors-in-possession in the District of Delaware, pursuing a Section 363 sale of their intellectual property and patent litigation assets. The publicly traded Boston microbiome-therapeutics company (NASDAQ: FNCH) filed Chapter 11 on March 22, 2026 Voluntary PetitionDkt. 1 after winding down operations.
Founded in 2014, Finch discontinued development of its lead candidate CP101 — an investigational microbiome drug for recurrent Clostridioides difficile infection — in January 2023 and pivoted to intellectual-property licensing and enforcement. The Debtors' remaining value now rests on a portfolio of more than 160 U.S. and foreign patents and a contingent litigation recovery: in August 2024 a jury awarded Finch and the University of Minnesota $25.0 million in damages plus $815,061 in royalties against Ferring Pharmaceuticals and Rebiotix Inc. for infringement of the REBYOTA product, though that verdict remains subject to post-trial motions and no proceeds have been collected Blischak DeclarationDkt. 9. With roughly $3.5 million in cash, no funded debt, and a burdensome Boston lease with landlord Hood Park, LLC, the Debtors concluded they could not outlast the Ferring appeal and filed to monetize those assets through a court-supervised sale. The Debtors declined to seek debtor-in-possession financing and are funding the cases on cash on hand.
Roughly three months into the cases, the Debtors reported an ending consolidated cash balance of approximately $5.59 million for May 2026 against $168,016 in monthly disbursements, driven primarily by professional fees and board compensation . A Section 363 sale hearing previously noticed for June 17, 2026 was cancelled, leaving the sale process to advance on a revised schedule. Interim professional-compensation applications from co-counsel Chipman Brown Cicero & Cole, LLP and tax advisor BDO USA, P.C. are pending, with objections due July 15, 2026 .
