First Wave soars on reaching enrollment target in pancreatic disorder drug trial

GridAI Technologies

13/06/2023 15:00

(Updates)
    ** Shares of drug developer First Wave BioPharma Inc
 FWBI.O  more than double to $2.9 in early trade
        ** Stock among top pct gainers across U.S. exchanges
  
        ** Stock on track to log best day if gains hold
  
        * More than 35 mln shares traded, 415 times their 25-day
moving avg
  
    ** Co says it achieved the enrollment target for its
mid-stage study investigating a treatment candidate for a type
of pancreatic disorder associated with cystic fibrosis
    ** Cystic fibrosis is a genetic disorder that affects the
cells that produce mucus, sweat and digestive juices
    ** Trial studies safety and efficacy of the treatment in 13
cystic fibrosis patients, all 18 years or older
    ** Two-thirds of patients have completed study, final
patients being dosed - FWBI
    ** Top line results on track for July 2023 - FWBI
    ** Stock down 53% YTD

 (Reporting by Aditya Samal)
 ((Aditya.Samal@thomsonreuters.com;))