Blue Water Biotech Soars after Purchasing Six FDA-Approved Drugs

Blue Water Biotech (NASDAQ:BWV), a biotech firm that straddles several sectors, announced its signing of an Asset Purchase Agreement with WraSer and Xspire Pharma, which sent shares soaring. This game-changing agreement allows Blue Water to scoop up six FDA-sanctioned assets, including treatments for cardiology, otic infections, and pain management. Blue Water will purchase these assets for $8.5 million, payable in three parts, with 1 million restricted shares of Blue Water’s common stock also transferring to WraSer on the closing date. The Agreement includes the patents related to ZONTIVITY®, a medication used to reduce the risk of major adverse cardiovascular events in patients with a history of heart attack or peripheral arterial disease. Also included are additional products for the treatment of hypertension, otitis media, and pain management.

The deal encompasses licenses to market and distribute two antibiotic otic products, OTOVEL® and CETRAXAL®, both currently distributed by WraSer. OTOVEL® treats acute otitis media in children older than 6 months who have a tympanostomy tube in their eardrum. CETRAXAL® is used to treat swimmer’s ear in children with an intact tympanic membrane. Also included in the Agreement is CONJUPRI®, a calcium channel blocker used for treating hypertension, and two pain medications, TREZIX™ and NALFON®.

This acquisition will augment Blue Water’s portfolio, which includes ENTADFI®, acquired earlier. This move not only strengthens Blue Water’s financial position but also furthers its extensive vaccine pipeline, providing better access to critical treatments for millions of patients worldwide.

A look at the past five trading days for BWV stock highlights the level of impact today’s news had on it. Indeed, shares jumped almost 64% at the time of writing. As a result, investors are now up 66.03% during this timeframe.

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