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Baudax Bio announced the publication of data in Pain Medicine regarding the efficacy of preoperative ANJESO (meloxicam) in patients undergoing total knee arthroplasty (TKA). Patients receiving ANJESO exhibited a 32% reduction in opioid consumption and 22% greater pain reduction compared to those on placebo. Hospital charges were 10% lower in the ANJESO group ($56,424 vs $62,864). The study demonstrated that ANJESO not only improved pain management but also minimized opioid-related adverse effects and healthcare resource utilization.
Baudax Bio has adjourned its 2021 Annual Meeting of Shareholders regarding Proposal 3, which seeks to increase the number of authorized shares from 100 million to 190 million. The meeting will resume virtually on May 6, 2021, at 10:00 a.m. Eastern Time to allow shareholders more time to vote. Shareholders eligible as of the record date, March 1, 2021, who have submitted a proxy vote remain valid. They can update their votes as needed. Baudax continues to focus on therapeutics for acute care settings, including its approved product ANJESO.
Baudax Bio (Nasdaq: BXRX) announced an inducement grant of stock options to a newly-hired employee, totaling 7,500 shares and 2,000 restricted stock units, approved by its Board's Compensation Committee. The options have an exercise price of $1.29 per share, vesting over four years. Baudax Bio focuses on acute care therapeutics, including ANJESO, its first commercial product launched in June 2020. The company faces potential challenges, including risks related to regulatory approvals and market acceptance.
Baudax Bio (Nasdaq: BXRX) announced that Gerri Henwood, its President and CEO, will participate in a fireside chat at the Oppenheimer 31st Annual Healthcare Conference on March 18, 2021, at 9:20 a.m. ET. A live webcast can be accessed via the investors section on the Baudax Bio website, with a replay available for 30 days post-event.
Baudax Bio, focusing on therapeutics for acute care, launched its first product, ANJESO, in June 2020. The company has a robust pipeline including two novel neuromuscular blocking agents and an intranasal dexmedetomidine.
Baudax Bio (NASDAQ:BXRX) appointed Richard S. Casten as its new Chief Financial Officer, succeeding Ryan D. Lake. Casten brings 25 years of experience in finance from the pharmaceutical and consumer products sectors. His expertise is expected to support the commercial rollout of ANJESO in the U.S. The company also granted Casten stock options for 270,000 shares and restricted stock units for 100,000 shares as part of his inducement grant. ANJESO, launched in June 2020, is aimed at managing moderate to severe pain.
Baudax Bio (Nasdaq: BXRX) will have its CEO, Gerri Henwood, present at the H.C. Wainwright Global Life Sciences Conference on March 9-10, 2021. The presentation will be available for on-demand listening starting March 9 at 7:00 a.m. ET on Baudax Bio's website for 30 days. Baudax Bio specializes in therapeutics for acute care, having launched its first product, ANJESO, in June 2020, following FDA approval in February 2020. ANJESO is a once-daily IV NSAID effective for moderate to severe pain, backed by successful Phase III trials.
Baudax Bio (Nasdaq: BXRX) reported its financial results for 2020, highlighting a net loss of $76.1 million, or $3.93 per share, significantly impacted by increased commercialization costs for ANJESO. Despite challenges from COVID-19, the reorder rate for ANJESO reached approximately 60%, with a 58% increase in vials sold from the previous quarter. The company secured around $55 million from equity offerings over the past months. Improved clinical data and an active marketing strategy aim to boost awareness of ANJESO, which saw its formulary addition in 65 institutions by year-end.
Baudax Bio, Inc. (NASDAQ: BXRX) will report its full year 2020 financial results on February 16, 2021, with a conference call scheduled for 8:00 a.m. ET. The company focuses on therapeutics for acute care settings, including its commercial product ANJESO®, launched in June 2020 after FDA approval. ANJESO is a once-daily IV NSAID supported by successful Phase III trials. Baudax also has a pipeline of products in development, including neuromuscular blocking agents and intranasal dexmedetomidine.
Baudax Bio (NASDAQ:BXRX) has entered into a definitive agreement for a registered direct offering of 11 million shares at $1.60 each, expected to close around February 10, 2021. The gross proceeds are estimated at $17.6 million, which will support the commercialization of ANJESO®, pipeline developments, and general corporate purposes. The offering is conducted under a 'shelf' registration statement with the SEC. H.C. Wainwright & Co. is the exclusive placement agent for this transaction.
Baudax Bio (Nasdaq: BXRX) announced a deal with an accredited healthcare investor for the cash exercise of warrants to purchase 10,300,430 shares at $1.18. This transaction, generating approximately $13.4 million in gross proceeds, includes a new warrant for the same number of shares at $1.60, with a five-year exercise term. Proceeds will support the commercialization of ANJESO®, a non-opioid pain management product launched in June 2020. The warrants are registered under an effective Form S-3 registration statement with the SEC.
