Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe


Enrollment Done for COVID-19 Drug Trial
Research Report

Share on Stocktwits

The Quick Take

  • ROTH has a Buy rating and a $20 per share price target on First Wave BioPharma Inc., representing a significant return from where the stock is trading now.
  • ROTH maintains its Buy on First Wave after news that its Phase 2 RESERVOIR trial finished enrolling patients for Part 2, reported analyst Brian Aschoff in a Jan. 6 research note.
  • The trial's Part 2 is evaluating the use of FW-COV, First Wave's proprietary tablet version of niclosamide, to clear the gastrointestinal tract of the SARS-CoV-2 virus.
  • FW-COV should be able to inhibit SARS-CoV-2 virus replication regardless of variant type.
  • Topline data from RESERVOIR Part 2 are expected in late H1/22.
  • As for RESERVOIR Part 1, it is continuing as planned on recommendation from the Independent Data Monitoring Committee after its safety review of the study.

For the second part of First Wave BioPharma Inc.'s (FWBI:NASDAQ) Phase 2 RESERVOIR trial, 150 patients were enrolled in the United States, India, and Ukraine, reported ROTH Capital Partners analyst Brian Aschoff.

In this Part 2 study, participants will be administered FW-COV for 14 days, Ashoff described. The trial's primary endpoint is the clearance rate of SARS-CoV-2 from participants' stool. To determine this, the presence of SARS-CoV-2 in patients' stool samples will be measured for six weeks following treatment. With Part 2 so far, no serious adverse side effects have been reported.

The analyst noted that about 18% of patients infected with COVID-19 also have virus-related gastrointestinal symptoms. That percentage, though, will likely increase with the expected rise in number of infections resulting from vaccination-resistant variants.

Regarding RESERVOIR Part 1, Aschoff said ROTH expected the recommendation from the Independent Data Monitoring Board to be positive. This primarily is because niclosamide is not a new drug but, rather, one that has been used for decades, initially as an anthelmintic, a destroyer of parasitic worms.


1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. 
6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

Disclosures for ROTH Capital Partners LLC, First Wave BioPharma Inc., Jan. 6, 2022

Within the last twelve months, ROTH Capital Partners, or an affiliate to ROTH Capital Partners, has received compensation for investment banking services from First Wave BioPharma, Inc.
ROTH makes a market in shares of First Wave BioPharma, Inc. and as such, buys and sells from customers on a principal basis.
Shares of First Wave BioPharma, Inc. may be subject to the Securities and Exchange Commission's Penny Stock Rules, which may set forth sales practice requirements for certain low-priced securities.
ROTH Capital Partners, LLC expects to receive or intends to seek compensation for investment banking or other business relationships with the covered companies mentioned in this report in the next three months. The material, information and facts discussed in this report other than the information regarding ROTH Capital Partners, LLC and its affiliates, are from sources believed to be reliable, but are in no way guaranteed to be complete or accurate. This report should not be used as a complete analysis of the company, industry or security discussed in the report. Additional information is available upon request. This is not, however, an offer or solicitation of the securities discussed. Any opinions or estimates in this report are subject to change without notice. An investment in the stock may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Additionally, an investment in the stock may involve a high degree of risk and may not be suitable for all investors. No part of this report may be reproduced in any form without the express written permission of ROTH. Copyright 2022. Member: FINRA/SIPC.

Want to read more about Biotechnology / Pharmaceuticals investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe