Why Is First Wave BioPharma (FWBI) Stock Up Today?


  • First Wave BioPharma (FWBI) stock is up after closing a business combination.
  • This saw it acquire ImmunogenX in an all-stock transaction.
  • The combined company will continue the development of celiac disease treatment latiglutenase.
FWBI Stock - Why Is First Wave BioPharma (FWBI) Stock Up Today?

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First Wave BioPharma (NASDAQ:FWBI) stock is heading higher on Thursday after the clinical-stage biopharmaceutical company completed its business combination with ImmunogenX.

First Wave BioPharma used an all-stock transaction to acquire ImmunogenX. Of major interest of the company is latiglutenase. This is an oral biotherapeutic for celiac disease.

First Wave BioPharma is excited about the potential of latiglutenase as it could be a first-in-class treatment. The company also notes that the drug is already close to being ready for a Phase 3 clinical trial.

According to First Wave BioPharma, the goal is to license latiglutenase to a global pharmaceutical company for use in the U.S. and Canada. This will have that company handling the commercialization of the celiac disease treatment.

What’s Next for FWBI Stock?

First Wave BioPharma CEO James Sapirstein said the following in the news release:

“Given this enormous potential, we are working with Dr. Syage and his team to advance the regulatory, manufacturing, and clinical processes that would enable the initiation of the pivotal Phase 3 clinical trials of latiglutenase in 2025.”

Heavy trading follows today’s acquisition news. This has more than 700,000 shares changing hands as of this writing. That closing in fast on the company’s daily average trading volume of about 784,000 shares.

FWBI stock is up 3.7% as of Thursday morning.

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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