Blue Water Vaccines stock rockets 538% following $20M IPO (Update)

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• Blue Water Vaccines (BWV) stock soared 538% after holding an initial public offering that raised $20M.
• Shares of the vaccine developer closed at $57.40. The stock was priced at $9 per share and opened at $50, before dipping to $38 and then reaching a high of $57.51.
• Blue Water offered 2.2M shares at $9 per share, raising approximately $20M.
• The biotech company has been developing a universal flu vaccine along with a pneumococcus vaccine to prevent middle ear infections in children. It’s also working on vaccines to protect against norovirus, rotavirus and malaria.
• For a more in-depth look at Blue Water, check out SA contributor Avisol Capital Partners’ “Blue Water Vaccines: Advancing a Durable Universal Flu Vaccine.”