First Wave files patent application for pancreatic disorder drug, shares rise

GridAI Technologies

25/01/2023 16:43

** Shares of drug developer First Wave BioPharma Inc
 FWBI.O  rise ~36% to $6, among top gainers across U.S.
exchanges
    ** Co says it has filed a U.S. Provisional Patent
application involving composition of matter improvements
designed to enhance its pancreatic disorder drug adrulipase's
delayed release profile
    ** Says filing adds to the intellectual property portfolio
governing the drug, including its formulation and methods of use
    ** First Wave expects to initiate a mid-stage trial at the
beginning of 2023 after FDA's approval for human trials
    ** Co is evaluating the drug as a potential treatment for a
type of pancreatic disorder associated with cystic fibrosis and
chronic pancreatitis
    ** Adds in vitro research indicates the enhanced formulation
has the potential to decrease the number of pills a patients
would need to take
    ** Stock lost ~98% last year
 (Reporting by Sriparna Roy)
 ((Sriparna.Roy@thomsonreuters.com;))