BWV - Blue Water Biotech stock rallies on acquiring six FDA-approved drugs for $8.5M
2023-06-14 11:37:19 ET
- Blue Water Biotech ( NASDAQ: BWV ) has announced the signing of an Asset Purchase Agreement with WraSer and Xspire Pharma for the purchase of six FDA-approved assets across multiple indications, including cardiology, otic infections, and pain management.
- Under the terms, Blue Water Biotech will purchase the WraSer Assets for a total of $8.5M cash consideration payable in three tranches.
- In addition, WraSer shall receive 1M restricted shares of Blue Water’s common stock on the closing date.
- This Agreement also includes the purchase of licenses to market and distribute two antibiotic otic products, OTOVEL ® and CETRAXAL ® , and their authorized generics currently marketed and distributed by WraSer.
- The closing of the transaction is subject to certain customary closing conditions, as well as WraSer’s delivery of 2022 audited financial statements for WraSer’s parent company, Legacy-Xspire Holdings to Blue Water.
- BWV is +61.75% to $1.28.
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Blue Water Biotech stock rallies on acquiring six FDA-approved drugs for $8.5M