Thursday, March 17, 2022
Baudax Bio (BXRX)
Fourth Quarter 2021 Reported; Major Expense Reductions Announced
Baudax Bio is a biopharmaceutical company focused on developing therapies for post-operative pain, peri-operative pain, and anesthesia. The company currently has one approved therapy in ANJESO for post-operative pain. Proprietary ANJESO (meloxicam) injection is the first and only once-daily IV analgesic. The company also has a pipeline of early-stage candidates with two novel neuromuscular blocking agents (NMBAs), a proprietary related reversal agent to their NMBAs, and Dex-IN, an intranasal formulation of dexmedetomidine (Dex) that has sedative, analgesic, and anti-anxiety properties.
Gregory Aurand, Senior Research Analyst, Healthcare Services & Medical Devices, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
4Q 2021 revenues reported. Yesterday, Baudax Bio released 4Q and FY 2021 results. Despite better-than-expected formulary wins, Covid related elective procedures remained muted in regions of the U.S. While solid, 4Q revenues of $.4 million, up 426%, missed our $0.55 million estimate. FY 2021 reported revenues of $1.08 million, up 119%, missed our $1.23 million estimate.
Company is reducing headcount and expenses. The company is implementing a workplace reduction plan to curtail expenses and reduce need for capital. The plan is expected to reduce headcount 80%. The company expects approximately $4.0 million in severance and related costs to be taken by end of 2Q 2022. Cash burn will be substantially reduced in 2H 2022 and beyond …
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
