First Wave BioPharma reports mixed Phase 2 trial for COVID-19 GI; cuts 20% of staff

GridAI Technologies Corp.

Phase 2 RESERVOIR trial: FW-COV (niclosamide) safe but missed efficacy endpoint vs placebo on SARS-CoV-2 stool viral clearance.
Austerity measures: 20% headcount reduction, closure of West Coast office and Langlade, France facility.
Deferred certain payment obligations related to First Wave Bio, Inc. acquisition to conserve capital.
Awaiting full RESERVOIR data in late May; advancing IBD programs (FW-UP, FW-UC, FW-CD) and adrulipase for EPI.
David Hoffman appointed to Board, filling newly created seventh seat under merger agreement.

item 5.02 item 8.01 item 9.01

Executive movements

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Appointed

David Hoffman

Member of the Board

GRDX · GridAI Technologies Corp.

Effective: 2022-04-27
Filed: April 29, 2022, 7:59 PM ET

approved, effective immediately, an increase in the size of the Board from six directors to seven directors and appointed David Hoffman, age 61, to serve as a member of the Board to fill the newly-created vacancy.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

David Hoffman was appointed as Member of the Board at GridAI Technologies Corp..

Action: appointed
Role: Member of the Board

Exact text from the filing

approved, effective immediately, an increase in the size of the Board from six directors to seven directors and appointed David Hoffman, age 61, to serve as a member of the Board to fill the newly-created vacancy.

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GridAI Technologies Corp. filing history →

Source: SEC EDGAR

accession 0001140361-22-017051

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