Wednesday, May 18, 2022

Baudax Bio (BXRX)
Offering Raise Helps Cash Needs Near-Term

Baudax Bio is a pharmaceutical company focused on 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.

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.

Stock and Warrants.  Yesterday Baudax Bio announced a registered direct at-the-market offering to institutional investors for the sale and issuance of 1,646,091 shares of common stock at a price of $1.215 per share, raising close to $2 million. In conjunction, the investors, in a private placement will be issued 1,646,091 private placement warrants at an exercise price of $1.09 per share.

Timing was unexpected.  The Company had previously issued common shares in a public offering in late February 2022, so the cash need was not great at the present time.  We had expected capital raises later in 2022, even with the reduced cash burn outlook….

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.