Baudax Bio Regains Compliance with NASDAQ Listing Requirements

Rhea-AI Summary

On March 3, 2022, Baudax Bio (NASDAQ:BXRX) announced it has regained compliance with Nasdaq's minimum bid price requirement of $1.00 per share. This compliance was determined after the company's stock closed above $1.00 for 10 consecutive business days from February 16 to March 2, 2022. The matter is now considered closed by Nasdaq. Baudax Bio focuses on innovative products for acute care, with its lead product, ANJESO, being the first and only 24-hour IV COX-2 preferential NSAID for managing moderate to severe pain.

Positive

• Regained compliance with Nasdaq's minimum bid price requirement of $1.00.
• Bid price remained above $1.00 for 10 consecutive business days.

Negative

• None.

MALVERN, Pa., March 07, 2022 (GLOBE NEWSWIRE) -- Baudax Bio, Inc. (NASDAQ:BXRX), a pharmaceutical company focused on commercializing and developing innovative products for acute care settings, announced that the Company received a letter on March 3, 2022 from The Nasdaq Stock Market noting the Company has regained compliance with the minimum bid price requirement under Listing Rule 5550(a)(2), which requires the Company to maintain a minimum closing bid price of $1.00 per share. Nasdaq staff made this determination of compliance after the Company's bid price closed above $1.00 per share for 10 consecutive business days from February 16, 2022 to March 2, 2022, and has now deemed the matter closed.

About Baudax Bio

Baudax Bio is a pharmaceutical company focused on commercializing and developing innovative products for acute care settings. ANJESO is the first and only 24-hour, intravenous (IV) COX-2 preferential non-steroidal anti-inflammatory (NSAID) for the management of moderate to severe pain. In addition to ANJESO, Baudax Bio has a pipeline of other innovative pharmaceutical assets including two novel neuromuscular blocking agents (NMBs) and a proprietary chemical reversal agent specific to these NMBs. For more information, please visit www.baudaxbio.com.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties. Such forward-looking statements reflect Baudax Bio’s expectations about its future performance and opportunities that involve substantial risks and uncertainties. When used herein, the words “anticipate,” “believe,” “estimate,” “may,” “upcoming,” “plan,” “target,” “goal,” “intend,” and “expect,” and similar expressions, as they relate to Baudax Bio or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information available to Baudax Bio as of the date of publication on this internet site and are subject to a number of risks, uncertainties, and other factors that could cause Baudax Bio’s performance to differ materially from those expressed in, or implied by, these forward-looking statements, including, but not limited to, risks related to the ongoing economic and social consequences of the COVID-19 pandemic, Baudax Bio’s ability to advance its current product candidate pipeline through pre-clinical studies and clinical trials, Baudax Bio’s ability to raise future financing for continued development of its product candidates such as BX-1000, BX-2000 and BX-3000, Baudax Bio’s ability to pay its debt and satisfy conditions necessary to access future tranches of debt, Baudax Bio’s ability to comply with the financial and other covenants under its credit facility, Baudax Bio’s ability to manage costs and execute on its operational and budget plans, Baudax Bio’s ability to achieve its financial goals, and Baudax Bio’s ability to obtain, maintain and successfully enforce adequate patent and other intellectual property protection. These forward-looking statements should be considered together with the risks and uncertainties that may affect Baudax Bio’s business and future results included in Baudax Bio’s filings with the Securities and Exchange Commission at www.sec.gov. These forward-looking statements are based on information currently available to Baudax Bio, and Baudax Bio assumes no obligation to update any forward-looking statements except as required by applicable law.

CONTACT:

Investor Relations Contact:

Argot Partners
Sam Martin / Kaela Ilami
(212) 600-1902
baudaxbio@argotpartners.com

Media Contact:

Argot Partners
David Rosen
(212) 600-1902
david.rosen@argotpartners.com

FAQ

What is the recent compliance news for Baudax Bio (BXRX)?

Baudax Bio recently announced that it has regained compliance with Nasdaq's minimum bid price requirement of $1.00 per share.

When did Baudax Bio (BXRX) regain compliance with Nasdaq?

Baudax Bio regained compliance on March 3, 2022, after its stock closed above $1.00 for 10 consecutive business days.

What does the compliance mean for Baudax Bio (BXRX) shareholders?

The compliance indicates that Baudax Bio's stock will remain listed on Nasdaq, which is positive for shareholder confidence.