Blue Water Biotech surges on purchase of six FDA-approved drugs

Onconetix

14/06/2023 13:29

** Shares of Blue Water Biotech Inc  BWV.O  more than double
to $1.84 premarket 
    ** Stock biggest gainer across U.S. stock exchanges 
    ** Co signs agreement with WraSer, LLC and Xspire Pharma,
LLC to buy six FDA-approved assets across multiple indications,
including cardiology, otic infections, and pain management
    ** Under the agreement, BWV to pay a total of $8.5 mln in
cash and 1 mln restricted shares of its common stock to WraSer
    ** Up to Tuesday's close, stock was down ~28% YTD

 (Reporting by Khushi Mandowara in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))