The announcement of a non-binding term sheet to sell a significant program such as the Niclosamide treatment for inflammatory bowel diseases is a positive development for First Wave BioPharma. It indicates potential future cash inflows and a strategic focus, which can be viewed favorably by investors. This news is directly related to the company's core business and strategic direction, hence the high relevance and importance. The confidence score is high due to the clear positive market reaction to the news, although it is not at the maximum because the term sheet is non-binding and the deal is not yet finalized.