Business
Blue Water Vaccines Reports First Quarter 2022 Financial Results and Recent Business Developments
Closed initial public offering of 2,222,222 shares of common stock at a public offering price of $9.00 per share, with aggregate gross proceeds of
About this update from Onconetix, Inc.
[{"type":"text","content":"Closed initial public offering of 2,222,222 shares of common stock at a public offering price of $9.00 per share, with aggregate gross proceeds of approximately $20 millionMultiple vaccine candidate developments, including additional data for universal influenza candidate, BWV-101, identifying additional epitopes of limited variability for H3N2 and influenza B strains$18.6 million in Cash as of March 31, 2022 CINCINNATI, May 13, 2022 (GLOBE NEWSWIRE) -- Blue Water Vaccines Inc. (“BWV” or “Blue Water Vaccines” or “the Company”), today announced its financial results for the first quarter ended March 31, 2022 and provided an update on recent business developments and progress. Blue Water Vaccines is a pre-clinical stage biotechnology company developing vaccines against multiple infectious diseases, including influenza, norovirus, rotavirus, and acute otitis media (AOM) from Streptococcus pneumoniae colonization. “The first quarter of this year had several exciting updates for Blue Water Vaccines, most notably the successful closing of our initial public offering,” said Joseph Hernandez, Chairman and Chief Executive Officer of Blue Water Vaccines. “We continue to advance our transformational vaccine pipeline to address significant global public health challenges and look forward to sharing additional developments throughout the rest of 2022.” Q1 2022 and Recent Corporate Developments On February 23, 2022, BWV closed its initial public offering of 2,222,222 shares of common stock at a public offering price of $9.00 per share, with aggregate gross proceeds of approximately $20 million. Boustead Securities, LLC acted as the sole book-running manager for the offering.In February 2022, the Company appointed James Sapirstein, R.Ph., M.B.A. to the Blue Water Vaccines Board of Directors. Sapirstein has over 35 years of experience within the biotechnology sector and brings a strong combination of healthcare and business experience to the team.In February 2022, the Company appointed John Rice, Ph.D. to its Scientific Advisory Board. In addition to his work in microbiology and virology early in his career, he brings over 30 years of experience in venture capital and previously served on the BWV board of directors before BWV’s IPO.On April 19, 2022, BWV closed a private placement with gross proceeds of approximately $8.0 million. Q1 2022 and R...