One mi­cro­cap biotech is charg­ing head­first in­to treach­er­ous IPO wa­ters, jump­ing to Nas­daq with mod­est raise

It’s a tough mar­ket right now for biotech IPOs, but one small com­pa­ny is tak­ing the pub­lic leap Fri­day with a mod­est ini­tial of­fer­ing.

Blue Wa­ter Vac­cines raised $20 mil­lion in its IPO, pric­ing shares at $9 apiece late Thurs­day af­ter­noon. The Cincin­nati-based com­pa­ny will use the mon­ey pri­mar­i­ly to ad­vance a slate of pre­clin­i­cal pro­grams to­ward IND stud­ies and boost man­u­fac­tur­ing ca­pa­bil­i­ties, it re­port­ed in its S-1 fil­ing.

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