IPOS - Blue Water Vaccines stock plunges 83% still up 13% from IPO price (update)

Blue Water Vaccines (BWV) stock plunged 83% on Thursday, but is still up 13% from its initial public offering price. Shares of the influenza vaccine developer closed at $10.17, down 83%. The stock opened at $57.88. Blue Water held its initial public offering on Feb. 18. The company raised $20M after offering 2.2M shares at $9 per share, with shares soaring 538% to close their debut session at $57.40. The biotech group has been developing a universal flu vaccine along with vaccines for pneumococcus, norovirus, rotavirus and malaria. On Wednesday, an FDA advisory committee met to discuss how and when COVID-19 booster shots should be offered to the general public.

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Blue Water Vaccines stock plunges 83%, still up 13% from IPO price (update)