Wednesday, December 07, 2022
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.
Gross proceeds of nearly $5 million or net proceeds around $4.2 million. The offering consisted of 1,042,087 shares of common stock (or Series C pre-funded warrants) combined with both a Series A-3 warrant to purchase 1,042,087 common shares and a Series A-4 warrant to purchase 1,042,787 common shares. The combined unit was publicly offered at $4.795 per unit. The pre-funded warrants were offered to purchasers where the offering would result in beneficial ownership greater than 4.99% (or, at the election of the purchaser, 9.99%).
Warrants exercisable at $4.50 per share. The Series C pre-funded warrants are exercisable at $0.01 per share. The Series A-3 warrants are exercisable immediately and will expire 5 years from date of issuance. The Series A-4 warrants are exercisable immediately and expire 13 months from date of issuance.
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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.