Blue Water Biotech Q1 net loss $2.8M, cash $20.3M, ENTADFI acquisition closed

Onconetix, Inc.

2023-Q1 EPS reported -$0.18 vs consensus -$36414.00 ▲ beat (+100.0%)

Net loss of $2.8M in Q1 2023 vs $2.1M in Q1 2022; cash $20.3M, down from $25.8M at Dec 2022.
Acquired ENTADFI (FDA-approved BPH treatment) for up to $100M; $20M upfront payable in tranches through Sep 2024.
Appointed Frank Jaeger as SVP Marketing & Business Development for ENTADFI launch; Timothy Ramdeen joined board.
Partnered with AbVacc to develop vaccine candidates targeting monkeypox and Marburg using norovirus VLP platform.
Signed research agreement with UT Health San Antonio for non-human primate study of Chlamydia vaccine BWV-401.

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