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.
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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.
