Financial Performance - Total current assets increased to $30,051,522 as of September 30, 2022, compared to $3,073,195 on December 31, 2021, representing a growth of approximately 877%[16] - Operating expenses for the three months ended September 30, 2022, were $3,869,734, a significant increase from $1,095,924 for the same period in 2021, reflecting a rise of about 253%[19] - The net loss for the three months ended September 30, 2022, was $3,866,662, compared to a net loss of $1,095,924 for the same period in 2021, indicating an increase in losses of approximately 253%[19] - Cash reserves rose to $29,136,716 as of September 30, 2022, up from $1,928,474 on December 31, 2021, marking an increase of about 1410%[16] - Total stockholders' equity reached $25,730,024 as of September 30, 2022, compared to $1,446,577 on December 31, 2021, representing a growth of approximately 1680%[16] - The company reported a net loss per share attributable to common stockholders of $0.27 for the three months ended September 30, 2022, compared to $0.40 for the same period in 2021, showing an improvement of 32.5%[19] - The company reported a net loss of $10,201,905 for the nine months ended September 30, 2022, compared to a net loss of $2,213,979 for the same period in 2021, indicating a significant increase in losses[26] - Cash used in operating activities was $5,897,641 for the nine months ended September 30, 2022, compared to $1,369,831 for the same period in 2021, reflecting a worsening cash flow situation[26] Capital Raising and Financing - The company completed its IPO on February 23, 2022, raising $17.1 million in net proceeds after underwriting discounts and costs[29] - The company received approximately $6.9 million in net cash proceeds from a private placement on April 19, 2022, and approximately $8.7 million from another private placement on August 11, 2022[34] - The company anticipates needing to raise additional capital to sustain operations and meet long-term requirements beyond one year from the issuance of the financial statements[35] - The company reported a net cash provided by financing activities of $33,115,222 for the nine months ended September 30, 2022, compared to a net cash used of $196,975 in the same period of the previous year[26] Research and Development - Research and development expenses for the nine months ended September 30, 2022, totaled $2,924,037, compared to $887,704 for the same period in 2021, reflecting an increase of about 229%[19] - The company incurred research and development expenses of approximately $496,000 and $988,000 for the three and nine months ended September 30, 2022, respectively, related to the Ology Bioservices project[176] - The company expanded its BWV-201 candidate to include pneumococcal pneumonia, hypothesizing that it can provide protection against various bacterial subtypes[198] - Research plans were initiated to investigate the applicability of the VLP platform for a novel monkeypox vaccine candidate[199] - A Sponsored Research Agreement was signed with Cincinnati Children's Hospital Medical Center to assess the VLP platform for developing vaccines for various diseases[200] Stock and Equity - The company had 14,689,851 shares outstanding as of September 30, 2022, compared to 3,200,000 shares on December 31, 2021, representing an increase of about 359%[16] - As of September 30, 2022, the total number of options to purchase shares of common stock excluded from diluted shares outstanding was 1,383,801[79] - The Company granted 200,000 stock options to the CEO, 200,000 to the CBO, and 100,000 to the CFO, with a total grant-date fair value of approximately $1.8 million[148] - The Company recognized stock-based compensation expense of approximately $0.2 million and $1.4 million for the CEO, CBO, and CFO during the three and nine months ended September 30, 2022, respectively[148] - The 2019 Equity Incentive Plan reserved 1,400,000 shares for issuance, while the 2022 Plan increased this to 2,600,000 shares[146] Liabilities and Obligations - Total liabilities increased to $4,431,377 as of September 30, 2022, from $1,638,120 on December 31, 2021, indicating a rise of approximately 171%[16] - The company is obligated to pay a 6% royalty on all net sales of licensed products under the Oxford University Innovation Limited agreement, with an annual minimum royalty payment of $250,000 starting post-product launch[165] - The company has milestone payment obligations of up to $51.25 million under the Oxford University Innovation Limited agreement, contingent on achieving specified development and regulatory milestones[165] - The company is required to pay milestone payments of up to $1.9 million under the St. Jude Agreement, contingent on achieving specified development and regulatory milestones[167] - The company has a commitment to pay CHMC milestone payments of up to $59.75 million, contingent on achieving specified development and regulatory milestones[173] Operational Insights - The company has not declared or paid any cash dividends and does not plan to do so in the foreseeable future[60] - The company has not generated any revenue from product sales and will require additional capital to fund operations and product development[205] - The company relies on third parties for conducting preclinical studies, clinical trials, and manufacturing, with no internal manufacturing capabilities[210] - The company does not expect to generate revenue from commercial product sales until successful development and regulatory approval of its vaccine candidates[209] - The company has incurred net losses since inception and expects to continue incurring losses in the foreseeable future[206]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41294 Blue Water Vaccines Inc. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of i ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41294 Blue Water Vaccines Inc. (Exact name of registrant as specified in its charter) | --- | --- | --- | |-------------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Delaware 81-2262816 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41294 Blue W ...