First Wave BioPharma, Inc. - FWBI STOCK NEWS

First Wave BioPharma (NASDAQ:FWBI) announced that the FDA is reviewing its IND amendment for a Phase 2 clinical trial of an enhanced microgranule formulation of adrulipase to treat exocrine pancreatic insufficiency (EPI) related to cystic fibrosis and chronic pancreatitis. The amendment was submitted on November 30, 2022, and a response is expected by the end of January 2023. The company is prepared to start the trial immediately upon FDA clearance. Adrulipase is designed to help patients digest fats, addressing a significant health issue for the over 120,000 EPI patients in the U.S. The CEO expressed optimism about the FDA's supportive interactions.

First Wave BioPharma (NASDAQ:FWBI) announced that all proposals were approved during their special stockholder meeting on January 13, 2023. Key approvals included a private placement allowing for the issuance of over 20% of common stock and a reverse stock split ranging from 1-for-3 to 1-for-40. The exact split ratio will be determined by the board of directors. Voting results will be disclosed in a Form 8-K. First Wave BioPharma focuses on developing non-systemic therapies for gastrointestinal diseases, with ongoing clinical programs targeting exocrine pancreatic insufficiency and inflammatory bowel disease.

First Wave BioPharma (NASDAQ: FWBI) announced the adjournment of its Special Meeting of Stockholders due to insufficient shares for a quorum. The meeting will reconvene on January 13, 2023, at 9:00 a.m. EST. The Board of Directors encourages stockholders to vote in favor of all proposals outlined in the proxy statement, believing they are in the best interests of stockholders. The Company specializes in developing targeted therapies for gastrointestinal diseases, with several clinical programs underway, including treatments for cystic fibrosis and ulcerative colitis.

ZyVersa Therapeutics announced the appointment of three independent board members, expanding its board to seven. The new members include Gregory G. Freitag, J.D., CPA; Katrin Rupalla, PhD; and James Sapirstein. This strategic move aims to enhance the company’s leadership as it develops its lead drug candidates, VAR 200 for renal disease and IC 100 for inflammatory diseases. The board members bring extensive experience in the biopharmaceutical sector, with a strong focus on advancing clinical-stage products addressing significant unmet medical needs.

First Wave BioPharma (NASDAQ: FWBI) announced its participation in the BIO Partnering @ JPM conference, scheduled from January 9-12, 2023, in San Francisco. The company will engage in one-on-one meetings with investors and pharmaceutical firms to present its clinical development strategies and recent achievements. First Wave is focused on developing non-systemic therapies for gastrointestinal diseases, including a pipeline featuring adrulipase and niclosamide. For more information, visit www.firstwavebio.com.

First Wave BioPharma (NASDAQ: FWBI) announced the selection of initial clinical trial sites for a Phase 2 trial evaluating adrulipase, targeting exocrine pancreatic insufficiency (EPI) related to cystic fibrosis (CF) and chronic pancreatitis (CP). Topline data is expected by mid-2023. The trial aims to address the limitations of existing pancreatic enzyme replacement therapies, potentially reducing patient pill burden. Cooperation with notable investigators has been established, indicating strong potential for adrulipase as a more efficient treatment option.

First Wave BioPharma (NASDAQ:FWBI) has submitted an IND application to the FDA for adrulipase, aimed at treating exocrine pancreatic insufficiency (EPI) linked to cystic fibrosis and chronic pancreatitis. If approved, a Phase 2 clinical trial is set to start in early 2023, with topline data expected by mid-year. The new formulation could reduce the pill burden for patients, who currently may need up to 40 capsules daily. The company anticipates that this enhanced drug delivery approach will yield significant therapeutic benefits for patients suffering from EPI.

First Wave BioPharma (NASDAQ: FWBI) declared a dividend of 0.001 of a share of Series F Preferred Stock for each common stock share held as of December 5, 2022. This Series F Preferred Stock will provide voting rights primarily concerning a reverse stock split, allowing 1,000,000 votes per share. Uncertificated shares will only be transferable with common stock transfers. Unused shares will be automatically redeemed, and further details will be included in a Form 8-K filed with the SEC.

First Wave BioPharma (NASDAQ:FWBI) has successfully closed a private placement, raising approximately $2.5 million. The deal involves issuing pre-funded warrants for 4,166,667 shares and warrants for an additional 8,333,334 shares at an effective price of $0.60 per share. Additionally, the company plans to seek stockholder approval for shares exceeding 19.99% of outstanding shares. The warrants have an exercise price of $0.7685 and will expire in five and a half years. H.C. Wainwright & Co. served as the exclusive placement agent.