First Wave BioPharma, Inc. - FWBI STOCK NEWS

First Wave BioPharma, Inc. (NASDAQ:FWBI) has announced a 1-for-30 reverse stock split of its common stock, effective August 26, 2022. This action aims to boost the share price to meet NASDAQ's minimum bid requirement. The reverse split will reduce the outstanding shares from approximately 42 million to 1.4 million without changing the total authorized shares. Stockholders will automatically have their shares adjusted, and no fractional shares will be issued, with cash payments provided instead. This decision follows stockholder approval at the annual meeting on August 25, 2022.

First Wave BioPharma (NASDAQ:FWBI) has announced a securities purchase agreement with institutional investors totaling approximately $300,000. This includes Series D and E Convertible Preferred Stock and Series D Warrants, enabling the conversion into 2 million shares of common stock. The rights for voting on a proposed reverse stock split will be available to holders of these preferred stocks. The offering is expected to close on July 15, 2022, with proceeds allocated for working capital and corporate purposes.

First Wave BioPharma (NASDAQ: FWBI) announced that CEO James Sapirstein will participate in a fireside chat on May 24, 2022, at the H.C. Wainwright Global Investment Conference. The event will be held at the Fontainebleau Miami Beach Hotel from 3:00 p.m. to 3:30 p.m. EDT. Sapirstein will discuss the company’s business, clinical programs, and 2022 milestones. The company specializes in targeted therapies for gastrointestinal diseases, advancing several clinical programs using its proprietary technologies, niclosamide and adrulipase.

First Wave BioPharma (FWBI) reported mixed results from its Phase 2 RESERVOIR trial for FW-COV, a treatment targeting COVID-19-related GI infections. While the drug showed excellent safety with no serious adverse events in over 150 patients, it failed to demonstrate statistically significant antiviral efficacy. In response to the trial results and market volatility, the company announced austerity measures, including a 20% workforce reduction and office closures.

Despite these challenges, First Wave is optimistic about its ongoing IBD programs and has formed an IBD Steering Committee to guide further development.

First Wave BioPharma (NASDAQ:FWBI) has established a clinical steering committee to drive its inflammatory bowel disease (IBD) product portfolio, which includes FW-UP (ulcerative proctitis), FW-UC (ulcerative colitis), and FW-CD (Crohn’s disease). This committee consists of four distinguished experts who will guide the ongoing Phase 2 trial of FW-UP. The company emphasizes that this initiative is crucial for its growth strategy, indicating strong potential for advancing its clinical programs.

BALTIMORE, MD / ACCESSWIRE / March 31, 2022 / Goldman Small Cap Research has released a new report on First Wave BioPharma (NASDAQ:FWBI), highlighting its clinical-stage pipeline targeting gastrointestinal diseases. The report suggests FWBI could generate royalties by late 2022, with projected revenue of $50 million in 2023 at a 22% operating margin. The therapeutic pipeline, which includes promising Phase 2 trials for COVID-19 GI infections, offers significant revenue potential. Analyst Rob Goldman expressed optimism about upcoming milestones and licensing partnerships from Big Pharma.

First Wave BioPharma (FWBI) announced the enhancement of its intellectual property for niclosamide to treat COVID-19-related gastrointestinal infections. The company filed U.S. Patent and PCT applications for using niclosamide to treat long haul COVID-19 syndrome. Niclosamide, an established anti-inflammatory and antiviral drug, is being developed as FW-COV, with a Phase 2 trial underway to evaluate its effectiveness against SARS-CoV-2 in patients with acute infections. Top-line results are anticipated in the first half of 2022.

First Wave BioPharma, Inc. (NASDAQ: FWBI) announced that CEO James Sapirstein will present at Maxim's 2022 Virtual Growth Conference from March 28-30, 2022. The presentation will provide insights into the company’s business, clinical programs, and recent achievements. Attendees can access the presentation on-demand and schedule one-on-one virtual meetings with the management team. First Wave BioPharma focuses on developing targeted therapies for gastrointestinal diseases, with key clinical programs in progress, including treatments for COVID-19 gastrointestinal infections and ulcerative proctitis.

First Wave BioPharma will participate in a fireside chat during the 34th Annual Roth Conference on March 15, 2022, at 9:30 a.m. PT. CEO James Sapirstein will discuss the company’s business strategies and clinical development programs, including their pipeline of therapies for GI diseases using niclosamide and adrulipase. The event will be held at The Ritz Carlton in Laguna Niguel, California, with virtual meetings for registered investors. A livestream of the chat will be available on the company’s website.