Baudax Bio, Inc. (BXRX) is an innovative biotherapeutics company engaged in the development and commercialization of medicines for acute care settings. One of the injections offered by the company is ANJESO which is an intravenous COX-2 non-steroidal anti-inflammatory injection for relieving moderate to severe pain. The company is also developing a pipeline of neuromuscular blocking agents and chemical reversal agents specific to NMBAs.
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The price of BXRX stock during the early trading on January 19, 2022, was last checked to be $0.75, with a surge of 0.20%.
BXRX: Events and Happenings
A special meeting of the shareholders is in pipeline for BXRX which will be held on February 9, 2022. On January 04, 2022, BXRX reported that the company’s Executives presented at the Virtual H.C. Wainwright BIOCONNECT Conference held on January 10 – 13, 2022.
On December 31, 2021, BXRX reported about the approval of a grant of inducement of stock options by the compensation committee of the Board of Directors for the acquisition of approximately 109,250 shares of the company’s common stock and restricted stock units covering 31,900 shares of its common stock.
On December 28, 2021, BXRX reported about its entry into a definitive collaborative agreement for the issuance and selling of 42,289.3 shares of the company’s convertible preferred stock and warrants for the acquisition of approximately 12,686,790 shares of the company’s common stock thus giving the gross proceeds of $4.2 million in the direct offering.
On November 15, 2021, BXRX reported that the company’s Executives presented at the Virtual 33rd Annual Piper Sandler Healthcare Conference held on November 29–December 2, 2021. On November 11, 2021, BXRX reported about its clinical program update for neuromuscular blocking agents and the completion of dose-escalation trials assessing BX-1000 in healthy people.
BXRX: Key Financials
On November 04, 2021, BXRX announced its financial results for the three months ended September 30, 2021. Some of the updates are as follows.
Net Revenue
Net revenue for the third quarter of 2021 was $281 million compared to the same period of 2020 when it was $68 million.
Net Loss per Share
Basic and diluted net loss for Q3 2021 was $17.0 million, or $0.20 per share compared to the same period of the prior year when net income was $11.6 million or $0.64 per share (basic) and $0.62 per share (diluted).
Conclusion
BXRX stock dipped 68% from the past six months period like all the businesses suffered because of the slow economic growth due to pandemics. The current early trading incline of the stock is associated with the uncertain market circumstances by the analysts. The experts are optimistic that the company will possibly attract potential investors in a short span of time.
