Drug Discovery and Development

  • Home Drug Discovery and Development
  • Drug Discovery
  • Women in Pharma and Biotech
  • Oncology
  • Neurological Disease
  • Infectious Disease
  • Resources
    • Video features
    • Podcast
    • Webinars
  • Pharma 50
    • 2025 Pharma 50
    • 2024 Pharma 50
    • 2023 Pharma 50
    • 2022 Pharma 50
    • 2021 Pharma 50
  • Advertise
  • SUBSCRIBE

First Wave BioPharma stock tanks after announcing COVID-19 therapy trial data

By Brian Buntz | April 29, 2022

First Wave BioPharmaThe clinical-stage company First Wave BioPharma (Nasdaq:FWBI) saw its share price fall by more than 40% to $0.37 in after-hours trading today after releasing new clinical trial data.

To save money, the company will initiate austerity measures, cutting headcount by about 20% and closing clinical operations site in Hayward, California and a facility in Langlade, France. “We also intend to defer certain obligations, including payment obligations related to our acquisition of First Wave Bio, Inc. (“FWB”), in order to conserve capital,” said James Sapirstein, CEO of First Wave BioPharma, in a letter to shareholders.

The study in question relates to FW-COV (niclosamide), a potential treatment for COVID-19-related gastrointestinal infections, which failed on efficacy in a Phase 2 RESERVOIR study.

First discovered in 1958, the intestinal anthelminthic niclosamide was FDA approved in 1982 as a tapeworm treatment, but has been discontinued in the U.S.

WHO cites niclosamide as an essential medicine.

The efficacy endpoint of the RESERVOIR study was to remove the SARS-CoV-2 virus from the digestive tract as confirmed in patients’ stool.

The drug, however, appeared to be safe, with no serious adverse events reported in the 150 patients in the study. “While the top-line efficacy measure from the RESERVOIR trial did not show any antiviral activity, the drug was well-tolerated without any serious adverse events,” Sapirstein said.

First Wave BioPharma said the complete data set from the study is forthcoming.

It expects full data to be available in late May.

The company has a variety of programs related to niclosamide, whose anti-inflammatory mechanism of action could prove helpful in treating diseases such as ulcerative colitis and Crohn’s disease.

In November 2021, First Wave BioPharma James Sapirstein said the company believed niclosamide targets the entire virus. The company believed then the drug would potentially be effective against “multiple strains of COVID-19” and “may provide an effective therapeutic to help millions of COVID-19 patients overcome the debilitating and often overlooked effect the virus can have on the GI system.”


Filed Under: Gastroenterology, Infectious Disease
Tagged With: covid-19, First Wave BioPharma, FW-COV, niclosamide
 

About The Author

Brian Buntz

As the pharma and biotech editor at WTWH Media, Brian has almost two decades of experience in B2B media, with a focus on healthcare and technology. While he has long maintained a keen interest in AI, more recently Brian has made making data analysis a central focus, and is exploring tools ranging from NLP and clustering to predictive analytics.

Throughout his 18-year tenure, Brian has covered an array of life science topics, including clinical trials, medical devices, and drug discovery and development. Prior to WTWH, he held the title of content director at Informa, where he focused on topics such as connected devices, cybersecurity, AI and Industry 4.0. A dedicated decade at UBM saw Brian providing in-depth coverage of the medical device sector. Engage with Brian on LinkedIn or drop him an email at bbuntz@wtwhmedia.com.

Related Articles Read More >

Austrian researchers find IgA-tagged vesicles turn gut’s own antibodies against it, worsening ulcerative colitis
One of C. difficile’s metabolic powers might be turning a toxin into a fuel
Eli Lilly in the Drug Discovery & Development Pharma 50
Lilly’s FDA approval for Omvoh close up: Nearly 90% of one-year responders maintained remission through two years
Lumen Bioscience
How an engineered algae-based biologic aims to break the annual $5B cycle of c. diff reinfection
“ddd
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest news and trends happening now in the drug discovery and development industry.

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
Drug Discovery and Development
  • MassDevice
  • DeviceTalks
  • Medtech100 Index
  • Medical Design Sourcing
  • Medical Design & Outsourcing
  • Medical Tubing + Extrusion
  • Subscribe to our E-Newsletter
  • Contact Us
  • About Us
  • R&D World
  • Drug Delivery Business News
  • Pharmaceutical Processing World

Copyright © 2025 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising | About Us

Search Drug Discovery & Development

  • Home Drug Discovery and Development
  • Drug Discovery
  • Women in Pharma and Biotech
  • Oncology
  • Neurological Disease
  • Infectious Disease
  • Resources
    • Video features
    • Podcast
    • Webinars
  • Pharma 50
    • 2025 Pharma 50
    • 2024 Pharma 50
    • 2023 Pharma 50
    • 2022 Pharma 50
    • 2021 Pharma 50
  • Advertise
  • SUBSCRIBE