Wednesday, September 21, 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.
Issuing Series B Preferred Stock. In an 8-K filing dated September 19, 2022, Baudax Bio declared a dividend of one one-thousandth (1/1,000th) of a share of Series B Preferred Stock, par value $0.01 per whole share, for each share of the Company’s Common Stock to shareholders of record at 5pm ET September 29, 2022.
Voting Rights to Cure the Deficiency. Each share of Series B Preferred Stock will entitle the holder to 1,000,000 votes per whole share (or 1,000 votes for each 1/1,000th share). Outstanding shares of Series B Preferred will vote together with the outstanding shares of Common Stock as a single class to exclusively vote on matters related to reclassify shares of Common Stock via a reverse stock split. The Company is intending to cure its Nasdaq minimum closing price deficiency. The preferred shares will not be entitled to vote on any other matter, nor are they convertible or exchangeable for another class of shares.
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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.
