Having a worthwhile stock in trade is vital for any company. Healthcare stocks like pharmaceutical firms are no different. First Wave Biopharma (NASDAQ:FWBI) shot up in Wednesday’s trading thanks to a move that should give it a lot more opportunity in the field.
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First Wave itself deals in therapies designed to take out gastrointestinal (GI) diseases. Generally, its therapies are targeted rather than systemic, and today it stepped up its product line with a new U.S. Provisional Patent application. The new patent addresses adrulipase, one of First Wave’s treatments. Specifically, it enhances adrulipase’s delayed release properties.
This isn’t the first time that First Wave looked to augment its product line, though. Not long ago, First Wave also filed an Investigational New Drug amendment with the FDA to start Phase 2 clinical trials on adrulipase in connection with a side effect of cystic fibrosis. If First Wave can get its drug approved for more use cases, then that should mean positive outcomes all around.
The last five days for First Wave trading show a stock that needed a win. The stock briefly broke through the $5 mark but couldn’t hold it for long and started trending downward. This morning’s announcement sent share prices blasting up, though it gave back some of those gains as the trading day went on.
