First Wave BioPharma Management

Management criteria checks 2/4

We currently do not have sufficient information about the CEO.

Key information

James Sapirstein

Chief executive officer

US$1.3m

Total compensation

CEO salary percentage	37.1%
CEO tenure	3.3yrs
CEO ownership	n/a
Management average tenure	2yrs
Board average tenure	2.8yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has James Sapirstein's remuneration changed compared to First Wave BioPharma's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2022	n/a	n/a	-US$22m
Jun 30 2022	n/a	n/a	-US$57m
Mar 31 2022	n/a	n/a	-US$65m
Dec 31 2021	US$1m	US$480k	-US$85m
Sep 30 2021	n/a	n/a	-US$92m
Jun 30 2021	n/a	n/a	-US$74m
Mar 31 2021	n/a	n/a	-US$66m
Dec 31 2020	US$1m	US$463k	-US$42m
Sep 30 2020	n/a	n/a	-US$25m
Jun 30 2020	n/a	n/a	-US$15m
Mar 31 2020	n/a	n/a	-US$16m
Dec 31 2019	US$677k	US$102k	-US$15m

Compensation vs Market: James's total compensation ($USD1.29M) is above average for companies of similar size in the German market ($USD418.12K).

Compensation vs Earnings: James's compensation has been consistent with company performance over the past year.

CEO

James Sapirstein (61 yo)

3.3yrs

Tenure

US$1,294,380

Compensation

Mr. James R. Sapirstein, R.Ph., M.B.A., serves as Independent Director of ZyVersa Therapeutics, Inc. since January 2023. He served as Interim Chief Executive Officer at Marizyme, Inc. since March 19, 2021...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
James Sapirstein	President	3.3yrs	US$1.29m	no data
Sarah Romano	Chief Financial Officer	less than a year	no data	no data
Amy Chandler-Skerkis	Vice President of Regulatory Affairs	less than a year	no data	no data
Martin Krusin	Senior Vice President of Corporate Development	3yrs	no data	no data

2.0yrs

Average Tenure

53yo

Average Age

Experienced Management: 3660's management team is considered experienced (2 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
James Sapirstein	President	3.3yrs	US$1.29m	no data
Charles Casamento	Independent Director	5.8yrs	US$84.71k	no data
Alastair Riddell	Independent Director	7.3yrs	US$83.46k	no data
Edward Borkowski	Lead Independent Director	7.7yrs	US$98.42k	no data
Brian Gordon Feagan	Member of Scientific Advisory Board	1.1yrs	no data	no data
Anthony Opipari	Member of Scientific Advisory Board	no data	no data	no data
Michael Konstan	Member of Scientific Advisory Board	2.3yrs	no data	no data
Mary Coelho	Independent Director	1.4yrs	US$28.93k	no data
David Hoffman	Director	less than a year	no data	no data
Richard Marlink	Member of Scientific Advisory Board	no data	no data	no data

2.8yrs

Average Tenure

62.5yo

Average Age

Experienced Board: 3660's board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.

First Wave BioPharma Management

Management criteria checks 2/4

Key information

Recent management updates

High number of new and inexperienced directors

First Wave BioPharma, Inc., Annual General Meeting, Aug 25, 2022

First Wave Biopharma, Inc Announces Resignation from the Board of Directors

First Wave BioPharma, Inc. Appoints David Hoffman as Member of the Board

High number of new and inexperienced directors

James Pennington Announces His Intention to Retire as Chief Medical Officer of First Wave BioPharma, Inc

Recent updates

First Wave BioPharma, Inc.(NasdaqGM:ENTO) dropped from NASDAQ Composite Index

First Wave BioPharma, Inc. has filed a Follow-on Equity Offering in the amount of $0.9882 million.

First Wave BioPharma, Inc. (NasdaqCM:FWBI) completed the acquisition of ImmunogenX, LLC for approximately $3 million.

First Wave BioPharma, Inc. (NasdaqCM:FWBI) completed the acquisition of ImmunogenX, LLC for approximator $3 million.

First Wave BioPharma, Inc. has filed a Follow-on Equity Offering in the amount of $4.000006 million.

First Wave BioPharma, Inc. has withdrawn its Follow-on Equity Offering.

First Wave BioPharma, Inc. (NasdaqCM:FWBI) signed a non-binding term sheet to acquire ImmunogenX, LLC.

First Wave BioPharma, Inc. has filed a Follow-on Equity Offering.

First Wave Biopharma, Inc. Receives Written Notice from the Listing Qualifications Department of the Nasdaq Stock Market

First Wave BioPharma Receives Notice from Nasdaq Regarding Non-Compliance with Minimum Bid Price Requirement for Continued Listing on The Nasdaq Capital Market

First Wave BioPharma Receives Non-Compliance Notice from Nasdaq Regarding Non-Compliance with the Minimum Stockholders’ Equity Requirement Under Listing Rule 5550(b)(1)

First Wave BioPharma, Inc. Announces Initial Topline Results from Phase 2 Span Clinical Trial Investigating Enhanced Adrulipase Formulation

First Wave Biopharma Completes Patient Screening for Phase 2 Span Adrulipase Clinical Trial in Cystic Fibrosis

First Wave BioPharma Regains Compliance with Nasdaq’s Minimum Bid Price Requirement

First Wave BioPharma Announces First Patient Screened for Phase 2 SPAN Adrulipase Trial in Cystic Fibrosis

First Wave BioPharma Announces Initiation of Phase 2 Trial Investigating Enhanced Adrulipase Formulation in Exocrine Pancreatic Insufficiency in Patients with Cystic Fibrosis

First Wave BioPharma, Inc. Announces Expansion of Adrulipase Intellectual Property Portfolio

First Wave BioPharma, Inc. Provides Update on IND Filing for Phase 2 Trial of Enhanced Microgranule Formulation of Adrulipase for Exocrine Pancreatic Insufficiency

First Wave BioPharma Receives A Deficiency Notice from the Listing Qualifications Staff of Nasdaq Regarding Minimum Bid Price

First Wave BioPharma, Inc. Announces Initial Clinical Sites for its Phase 2 Trial of Enhanced Microgranule Delivery Formulation of Adrulipase

First Wave BioPharma Files Investigational New Drug Application for Enhanced Microgranule Delivery Formulation of Adrulipase

First Wave BioPharma, Inc. Presents Research Demonstrating Benefits of Improved Adrulipase Drug Delivery Formulation at AAPS 2022 PharmSci 360

First Wave BioPharma, Inc. has completed a Follow-on Equity Offering in the amount of $6.000001 million.

First Wave BioPharma, Inc. Provides Update on Clinical Programs

First Wave BioPharma, Inc. Finalizes Selection of Adrulipase Microgranule Drug Delivery Formulation

First Wave BioPharma Announces Reverse Stock Split

High number of new and inexperienced directors

First Wave BioPharma, Inc., Annual General Meeting, Aug 25, 2022

First Wave Biopharma, Inc Announces Resignation from the Board of Directors

First Wave BioPharma, Inc. announced delayed 10-Q filing

First Wave BioPharma, Inc. Appoints David Hoffman as Member of the Board

High number of new and inexperienced directors

James Pennington Announces His Intention to Retire as Chief Medical Officer of First Wave BioPharma, Inc

First Wave BioPharma, Inc. Files U.S. and PCT Patent Applications for Niclosamide in Long-Haul COVID-19

First Wave Biopharma, Inc. Announce Chief Financial Officer Changes

First Wave BioPharma, Inc. Provides Update on Adrulipase (FW-EPI) Clinical Program

First Wave BioPharma, Inc. Completes Enrollment for Part 2 of RESERVOIR Phase 2 Trial Evaluating FW-COV in COVID-19-Related GI Infections

High number of new directors

Forecast to breakeven in 2023

First Wave BioPharma Receives A Letter from the Listing Qualifications Department of the Nasdaq Stock Market LLC

First Wave BioPharma Begins Patient Screening for Phase 2b Clinical Trial Evaluating Niclosamide in Patients with Ulcerative Proctitis and Ulcerative Proctosigmoiditis

AzurRx BioPharma, Inc. (NasdaqCM:AZRX) agreed to acquire First Wave Bio, Inc. for $230 million.

AzurRx BioPharma, Inc. Announces Positive Results from Independent Data Monitoring Committee Review of Safety Data from Part 1 of RESERVOIR Phase 2 Clinical Trial of Niclosamide for the Treatment of COVID-19 Gastrointestinal Infections

AzurRx BioPharma Submits an Investigational New Drug Application for Niclosamide as Treatment for Grade 1 and Grade 2 Immune Checkpoint Inhibitor-Associated Colitis

No longer forecast to breakeven

AzurRx BioPharma, Inc. Announces Positive Topline Data for Phase 2 MS1819 Combination Therapy Trial in Cystic Fibrosis Patients with Severe Exocrine Pancreatic Insufficiency

AzurRx BioPharma Inc Completes Initial Cohort Enrollment into Part 1 of its RESERVOIR Phase 2 Clinical Trial of Niclosamide for the Treatment of COVID-19 Gastrointestinal Infections

Azurrx Biopharma, Inc. Adds New Clinical Trial Sites in Ukraine for Phase 2 Reservoir Clinical Trial of Niclosamide for the Treatment of Covid-19 Gastrointestinal Infections

AzurRx BioPharma Receives A Letter from the Listing Qualifications Staff of the Nasdaq Stock Market

AzurRx BioPharma, Inc. Doses First Patient in Phase 2 Clinical Trial of Niclosamide for the Treatment of Covid-19 Gastrointestinal Infections

AzurRx BioPharma, Inc. announced delayed 10-Q filing

AzurRx BioPharma, Inc. Announces Positive Interim Data in Phase 2 Clinical Trial of Ms1819 in Combination with Pert in the Treatment of Cystic Fibrosis Patients with Severe Exocrine Pancreatic Insufficiency

AzurRx BioPharma, Inc. Announces Completion of Enrollment in Phase 2B Option 2 Clinical Trial of Ms1819 in Cystic Fibrosis

AzurRx BioPharma, Inc. Announces Chairman Changes

AzurRx Biopharma Engages PPD to Manage Clinical Trial for Niclosamide as Treatment for COVID-19 Gastrointestinal Infections

AzurRx BioPharma, Inc. Announces Completion of Enrollment in First Cohort of Phase 2b OPTION 2 Extension Study of MS1819

AzurRx BioPharma, Inc. Adds Two New Clinical Trial Sites in Europe for Phase 2b OPTION 2 Extension Study of MS1819 Immediate-Release Capsules in Cystic Fibrosis Patients

AzurRx BioPharma Announces First Two Patients Dosed in Phase 2b OPTION 2 Extension Study of MS1819 in Cystic Fibrosis Patients

New 90-day high: €1.10

AzurRx BioPharma Announces Exclusive Worldwide License Agreement with First Wave Bio for Use of Proprietary Niclosamide Formulations to Treat Immune Checkpoint Inhibitor-Associated Colitis and COVID-19 Gastrointestinal Infections

New 90-day high: €0.89

AzurRx BioPharma, Inc. Announces First Patients Dosed in Turkey for Phase 2 Combination Therapy Trial of Ms1819 in Cystic Fibrosis Patients with Severe Exocrine Pancreatic Insufficiency

AzurRx BioPharma, Inc. Requests Protocol Amendment to Phase 2b OPTION 2 Study of MS1819 in Cystic Fibrosis Patients

AzurRx BioPharma Identifies Asymchem as Potential Partner of Choice for MS1819 Phase 3 Clinical Trial Drug Production

AzurRx BioPharma Activates Additional Clinical Trial Sites in Turkey for Phase 2 Combination Therapy Trial of MS1819 in Cystic Fibrosis

New 90-day high - €0.90

AzurRx BioPharma, Inc. announced that it has received $15.211958 million in funding

AzurRx BioPharma, Inc.(NasdaqCM:AZRX) dropped from Russell Microcap Growth Index

CEO Compensation Analysis