First Wave BioPharma Inc (FWBI)

First Wave BioPharma Inc (FWBI) stock dropped by 15.19% due to negative sentiment in the biopharmaceutical sector caused by the announcement related to First Wave BioPharma Inc (FWBI). First Wave BioPharma revealed its intention to sell its Niclosamide program for the treatment of inflammatory bowel diseases. In the biopharmaceutical industry, news of program sales or changes in development strategies of one company can often impact the sentiment and stock prices of other companies in the same sector, leading to declines like the one experienced by Cyclo Therapeutics Inc (CYTH).