Baudax Bio, Inc. Stock Price, News & Analysis

Baudax Bio (NASDAQ:BXRX) has announced a definitive agreement for a registered direct offering with a healthcare-focused institutional investor, totaling approximately 10.3 million shares at $1.165 each. The offering, expected to close on December 21, 2020, is projected to generate gross proceeds of about $12 million. If all warrants are exercised, an additional $12.15 million may be raised. Funds are intended for commercialization of ANJESO®, pipeline development, and general corporate purposes.

MALVERN, Pa., Nov. 30, 2020 - Baudax Bio (NASDAQ:BXRX) announced that CEO Gerri Henwood will participate in the Piper Sandler 32nd Annual Virtual Healthcare Conference from December 1-3, 2020. Institutional investor meetings are scheduled for December 2, 2020, with requests facilitated through Piper Sandler. A pre-recorded fireside chat featuring Henwood is available on the conference site and Baudax Bio's website for 30 days. Baudax Bio focuses on therapeutics for acute care, with its first product, ANJESO, launched in June 2020, following FDA approval in February 2020.

Baudax Bio, Inc. (NASDAQ:BXRX) has announced a definitive agreement with a healthcare-focused investor to sell 10,126,583 shares of common stock and warrants at $1.185 per share, raising approximately $12 million. The offering is a registered direct sale under Nasdaq rules, expected to close around November 25, 2020, pending customary conditions. If warrants are fully exercised, an additional $12.15 million is anticipated. Proceeds will support commercialization of ANJESO®, pipeline development, and general corporate purposes.

ANJESO (meloxicam), launched by Baudax Bio (NASDAQ:BXRX), has been shown to provide superior pain relief compared to other IV non-opioid analgesics. A recent Network Meta-Analysis published in BMC Anesthesiology evaluated over 2,300 studies, concluding that ANJESO significantly reduces pain in post-operative settings within 15 minutes and lasts up to 24 hours. The analysis highlights ANJESO's effectiveness in reducing morphine consumption and its favorable safety profile, making it a viable option for managing moderate to severe pain. ANJESO is FDA-approved and was launched in the U.S. in June 2020.

Baudax Bio, Inc. (NASDAQ:BXRX) announced the issuance of United States Patent No. 10,709,713, covering the use of ANJESO^® for treating moderate to severe pain. This patent, which expires in May 2030, strengthens Baudax's position against generic competition. ANJESO, launched in June 2020, is a non-opioid analgesic that addresses significant issues related to opioid use. The patent is part of a broader portfolio aimed at maintaining exclusivity and supporting the commercialization of ANJESO and additional pipeline products.

Baudax Bio (NASDAQ:BXRX) reported significant achievements following the launch of ANJESO®. Over 50 institutions have adopted it into their formularies, and average monthly orders have surged by over 125% since launch. A permanent J-code for ANJESO was secured from CMS effective October 1, enhancing reimbursement processes. Despite positive feedback, the launch revenue ramp is anticipated to take longer due to COVID-19 impacts, which have reduced elective surgeries. The company anticipates maintaining growth in hospital formulary adoption and further integration into pain management protocols.

Baudax Bio (NASDAQ:BXRX) will announce its third quarter 2020 financial results on November 9, 2020, followed by a conference call at 9:00 a.m. ET. The company focuses on therapeutics for acute care, having launched its first product, ANJESO®, in June 2020 after FDA approval in February. ANJESO is an IV NSAID shown effective in managing moderate to severe pain through multiple completed Phase III trials. The company also has other products in development, including novel neuromuscular blocking agents and intranasal dexmedetomidine.

Baudax Bio (NASDAQ:BXRX) announced a successful launch of ANJESO, a non-opioid IV NSAID for managing moderate to severe pain. Over 50 institutions have added ANJESO to their formularies, with a 75% increase in average order size since launch. Despite robust early adoption, the COVID-19 pandemic continues to affect commercial rollout and access to formularies. The company has also executed a warrant exchange to simplify its capital structure, reducing potential shareholder dilution by over 25%.

On October 2, 2020, Baudax Bio (Nasdaq: BXRX) announced the approval of inducement grants by its Compensation Committee. The equity awards include stock options for 24,000 shares and restricted stock units covering 6,000 shares, granted to three new employees as part of their compensation package. The options have an exercise price of $2.77 and a ten-year term, vesting over four years. Baudax Bio focuses on acute care therapeutics, having launched its first product, ANJESO®, in June 2020, approved for managing moderate to severe pain.