Why did Blue Water Vaccines (BWV) stock skyrocket 538% on IPO debut?

February 21, 2022 11:44 AM CET | By Raza Naqvi
 Why did Blue Water Vaccines (BWV) stock skyrocket 538% on IPO debut?
Image source: © Solarseven | Megapixl.com
Highlights:
  • The stock of Blue Water Vaccines debuted on the Nasdaq Capital Market, and BWV is its ticker symbol.
  • During the trading session, the stock price declined to US$ 38 and later surged to close at US$ 57.4 per share.
  • The Ohio-based Blue Water Vaccines is a biopharmaceutical company, and it is involved in making vaccines to address significant health issues.

Stocks of Blue Water Vaccines, Inc. (NASDAQ:BWV) skyrocketed on debut and surged about 538 per cent to close at US$ 57.4 per share on Friday, February 18.

Notably, the Blue Water Vaccines stock was priced at US$ 9 apiece, and it opened at US$ 50 per share. During the trading session, the stock price declined to US$ 38 and later surged to close at US$ 57.4 per share.

On February 17, Blue Water Vaccines announced the pricing of its common stock and said it would sell 2.2 million shares through the initial public offering (IPO).

Also Read: NVIDIA-SoftBank deal collapses. When is Arm IPO happening now?

The stock of Blue Water Vaccines debuted on the Nasdaq Capital Market, and BWV is its ticker symbol.

As per the documents submitted with the Securities and Exchange Commission, Boustead Securities, LLC acted as the sole underwriter for the IPO.

All you need to know about Blue Water Vaccines

The Ohio-based Blue Water Vaccines is a biopharmaceutical company, and it is involved in making vaccines to address significant health issues.

Blue Water Vaccines is developing a universal flu vaccine and is also developing a vaccine to prevent middle ear infections in children. Blue Water Vaccines is believed to develop vaccines for malaria, rotavirus, and norovirus.

Blue Water Vaccines                                                                                     ©2022 Kalkine Media® 

As the healthcare sector gained momentum since the beginning of the COVID-19 pandemic, it appears that the surge in BWV stock price could be due to this reason.

The IPO market is not doing great since the beginning of this year, and a meteoric rise in the price of Blue Water Vaccines' stock could indicate that retail investors must be paying attention to the companies involved in the healthcare sector.

Bottom line

Blue Water Vaccines plans to use 60 per cent of the gross proceeds to fund research and development activities.

Meanwhile, 20 per cent of the money raised would be used for funding the Phase I clinical trials and regulatory process for vaccine candidates.

The remainder money will likely be used for general corporate purposes and working capital.

Also Read: Is Mark Cuban Cost Plus Drug Company IPO happening?


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Limited, Company No. 12643132 (Kalkine Media, we or us) and is available for personal and non-commercial use only. Kalkine Media is an appointed representative of Kalkine Limited, who is authorized and regulated by the FCA (FRN: 579414). The non-personalised advice given by Kalkine Media through its Content does not in any way endorse or recommend individuals, investment products or services suitable for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a qualified financial planner and/or adviser. No liability is accepted by Kalkine Media or Kalkine Limited and/or any of its employees/officers, for any investment loss, or any other loss or detriment experienced by you for any investment decision, whether consequent to, or in any way related to this Content, the provision of which is a regulated activity. Kalkine Media does not intend to exclude any liability which is not permitted to be excluded under applicable law or regulation. Some of the Content on this website may be sponsored/non-sponsored, as applicable. However, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music/video that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music or video used in the Content unless stated otherwise. The images/music/video that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Sponsored Articles