NEW YORK, March 26, 2022 /PRNewswire/ –Pomerantz LLP is investigating claims on behalf of investors of Finch Therapeutics Group, Inc. (“Finch” or the “Company”) (NASDAQ: FNCH). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Finch and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On or around March 19, 2021, Finch conducted its initial public offering (“IPO”), selling 7.5 million shares priced at $17.00. Then, on March 1, 2022, Finch issued a press release “announc[ing] that it has paused enrollment in PRISM4, its Phase 3 clinical trial of CP101 in recurrent C. difficile infection (CDI) following receipt of a clinical hold letter from the U.S. Food and Drug Administration (FDA) on February 24, 2022, requesting additional information about Finch’s SARS-CoV-2 donor screening protocols.” Finch reported that “[f]ollowing communications with FDA in January 2022, on February 24, 2022, the FDA sent a letter stating that it needs additional information about Finch’s SARS-CoV-2 screening protocols and that a clinical hold remains in effect until the FDA’s requests have been satisfactorily addressed.”
On this news, Finch’s stock price fell sharply during intraday trading on March 2, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
SOURCE Pomerantz LLP
This is not a CAPTIS article. Originally, it was published here.