Cincinnati Company Abandons Vaccine Development Efforts

Blue Water Biotech, Inc. today issued the following shareholder letter from its CEO, Dr. Neil Campbell.

As of October 30, 2023, Blue Water's vaccine development initiatives highlighted separate indications, such as chlamydia, influenza, malaria, and mpox.

The CEO's letter is excerpted below:

As we close out October, the first month of my tenure, I want to take this opportunity to personally communicate with you while providing an update on the direction of Blue Water Biotech.

As part of the shift in business strategy and to enhance shareholder value, the Company will focus on building a foundation of therapeutic, diagnostic, and service products in oncology that will bolster and enrich clinicians' medical practices.

.... the Company has established early-stage preclinical and clinical programs in various vaccine technologies. These vaccine programs were targeting a wide number of diseases and conditions that would have consumed an enormous amount of Company resources.

Considering the evolving market dynamics and post-pandemic challenges, we conducted a strategic and tactical assessment, which led us to conclude that the optimal path for the Company lies in de-prioritizing the vaccine programs to focus our efforts on expanding our oncology offerings.

In summary, our business strategy shift aims to enhance shareholder value by establishing a strong foothold in both therapeutic and diagnostic aspects of oncology. 

The Company's SEC Report of unscheduled material events or corporate events on October 30, 2023, is linked here.