Baudax Bio, Inc. - BXRX STOCK NEWS

Baudax Bio (NASDAQ:BXRX) announced a 1-for-40 reverse stock split effective December 1, 2022, to meet Nasdaq's $1.00 minimum bid price requirement. This decision, approved by shareholders on November 3, 2022, will reduce the number of outstanding shares from approximately 20 million to 0.5 million. The reverse split is expected to increase the stock price and maintain compliance with listing requirements. No fractional shares will be issued; instead, shareholders will receive cash for any fractional shares. The company continues to develop innovative pharmaceutical products, including novel neuromuscular blocking agents.

Baudax Bio, Inc. (NASDAQ:BXRX) reported its Q3 2022 financial results revealing a net loss of $29.2 million, compared to $17 million in Q3 2021. The company announced the ongoing Phase II trial of BX 1000 and continued enrollment for BX 2000's dose escalation study. ANJESO sales rose 16% in vials sold to end users, although revenue decreased by 15%. The USPTO issued a Notice of Allowance for an additional ANJESO patent. Cash and cash equivalents stand at $5.6 million, with net product revenue of $1 million for the nine months ended September 30, 2022.

Baudax Bio, a pharmaceutical company, announced a dividend of one one-thousandth of a share of newly designated Series B Preferred Stock for each outstanding share of its common stock, with a record date of September 29, 2022. Holders will receive the shares on October 3, 2022. The Series B Preferred Stock will grant voting rights mainly concerning a proposal for a reverse stock split. Each share will have 1,000,000 votes, but shares not present at the shareholder meeting will be automatically redeemed. Further details will be provided in a Form 8-K filing.

MALVERN, Pa., Sept. 8, 2022 – Baudax Bio (NASDAQ:BXRX) announced that CEO Gerri Henwood will present at the 24th Annual H.C. Wainwright Healthcare Conference on September 14, 2022, at 3:00 p.m. ET in New York. Investors can access a webcast of the presentation on the company's website, which will be archived for 90 days. Baudax Bio focuses on innovative acute care products, notably ANJESO®, a non-opioid IV NSAID for managing severe pain. The company has a pipeline that includes novel neuromuscular blocking agents and a chemical reversal agent.

Baudax Bio (NASDAQ: BXRX) has successfully closed a public offering, securing approximately $6.2 million in gross proceeds by selling 11,819,172 shares of common stock at a price of $0.525 each. The offering included accompanying warrants for investors. Proceeds are earmarked for pipeline development and general corporate purposes. The securities were offered under an SEC-declared effective registration statement. The offering was facilitated by H.C. Wainwright & Co. This financing aims to bolster Baudax Bio’s position in acute care therapeutics.

Baudax Bio, a pharmaceutical firm focused on acute care, has announced a public offering of 11,819,172 shares at $0.525 each, expected to close around September 1, 2022. The offering will generate approximately $6.2 million in gross proceeds for pipeline development and general corporate purposes. Each share comes with Series A-1 and A-2 warrants, both exercisable immediately. H.C. Wainwright & Co. serves as the exclusive placement agent, and the offering is registered under the SEC's effective Form S-1.

Baudax Bio (NASDAQ:BXRX) announced a Notice of Allowance from the USPTO for patent No. 16/297,095, related to administering intravenous meloxicam (ANJESO^®). This patent covers multiple dosing methods for treating moderate to severe pain, potentially reducing rescue analgesia use for up to 48 hours. The patent is expected to be issued soon and will join eight others in the FDA’s Orange Book, providing exclusivity until March 2039. This strengthens Baudax's position against generic competition.

Baudax Bio (NASDAQ:BXRX) reported a 49% increase in ANJESO net product revenue to $0.3 million for Q2 2022, with 67% more vials sold to end-users year-over-year. The ongoing development of its neuromuscular blocking agents, BX2000 and BX1000, remains on track, with a Phase I study enrollment expected to complete by early 2023. The company also secured $2 million in financing. However, Baudax reported a net loss of $7.5 million, or $(1.05) per share, for the quarter, amid challenges from COVID-19 affecting elective surgeries.

Cosette Pharmaceuticals announced the appointment of Rick Casten as Chief Financial Officer, marking a strategic addition to its leadership. Casten brings over 25 years of experience in the pharmaceutical and consumer products sectors. This strategic move comes as the company prepares for significant growth, fueled by its recent acquisition of eight branded products from Daiichi Sankyo and upcoming product launches. Cosette aims to enhance its diversification strategy under Casten's financial leadership.