FWBI - First Wave BioPharma more than doubles in value pre-market on reaching enrollment target
2023-06-13 09:15:29 ET
- Shares of micro-cap First Wave BioPharma ( NASDAQ: FWBI ) have more than doubled in value in Tuesday pre-market trade, after the company completed enrollment in an ongoing mid-stage trial.
- FWBI stock soared 136% to $2.69 ahead of the opening bell.
- FWBI said it had achieved its enrollment target in its phase 2 study investigating a microgranule delivery formulation of the enzyme adrulipase for the treatment of patients with cystic fibrosis.
- The trial was designed to enroll an estimated twelve patients.
- "The majority of patients in the study have completed dosing and the remaining patients are currently being dosed. We remain on track to report topline data in July 2023," FWBI CEO James Sapirstein said in a statement .
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First Wave BioPharma more than doubles in value pre-market on reaching enrollment target