Tuesday, January 03, 2023
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.
Not Wholly Unexpected. The ANJESO discontinuation announced in an 8-k filing dated December 28, 2022, and also in the FDA Orange Book, was not unexpected given the reduction in commercial force earlier in 2022. However, with the concurrent news of no monetization of the ANJESO asset through partnership or sale, the risk profile increases in the near term. The Company continues to evaluate alternatives to ANJESO monetization in both the US and abroad.
Sole Focus On NMBs. We have highlighted the neuromuscular blockers as a tremendous opportunity longer term while previously reducing the growth profile of ANJESO. However, with the discontinuation of ANJESO sales, the NMBs now become the sole focus. BX1000, the intermediate acting NMB currently enrolling patients in Phase II, is expected to have interim analysis in 1Q 2023. BX2000, the ulra-short acting NMB, is in a dose escalation Phase I trial expected to be completed during 2023. The reversal agent, BX3000, is expected to file an IND in mid-2023.
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