Blue Water Global Group Inc (OTCMKTS: BLUU) stock gained $0.00060 per share and soared at 50% to close at $0.0018 on Monday. The stock moved in the range of $0.0010 – $0.0020 with a heavy volume of 1.5 million shares throughout the day compared with the average trading volume of 71.43 million shares.
Stock performance
In this week, BLUU stock has remained bullish with 63.64% gains and $0.00070 per share. The uptrend saga continues from June 14, 2021. Since then, Blue Water Global Group Inc has gripped the higher tide by 100%. Its YTD and yearly gains are also recorded at 100%. The investors who have been holding BLUU for a long time, like five years, have also gained from the bullish run of this stock. Established in 2011, the Florida-based company comes with a market capitalization of $1.80 million.
Merger with Clarus Therapeutics
The company has also signed the definitive agreement with Clarus Therapeutics for the merger. The merger is going to establish Blue Water Global Group under Clarus’ name. The latter’s investors will fuse in $25 million for the company’s support. The transaction is aimed at pacing up JATENZO® commercialization for addressing the unmet needs of women and men.
Proceeds of this merger agreement are to be invested in JATENZO’s growth-driven initiatives. These will include DTC advertising and Clarus’ R&D pipeline extension. In context with the transaction, BLUU’s Chairman and CEO, Joseph Hernandez said that the reason of this merger is Clarus’ attractive prospects for growth in the future. In addition, the company has a bench of expertise, a compelling profile of finance, and an excellent innovation angle.
Q3-2021 will complete the merger. Clarus Therapeutics is a pharma company interested in developing metabolic therapies and androgen for women and men. This also includes orphan indications in potential therapies.
