Monday, May 22, 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 Vice President, Equity Research Analyst, Healthcare Services & Medical Devices, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Out of compliance with minimum stockholders’ equity requirement. Baudax Bio received notice on November 18, 2022 that the minimum $2.5 million requirement, under Listing Rule 5550(b), was not met for continued Nasdaq listing. The Company was granted an extension until May 15, 2023 to comply.
Delist determination letter. On May 17, 2023, the Company received a delist determination letter from Nasdaq that the extension terms were not met. Specifically, proposed transactions were not completed, and evidence of compliance was not received by the May 15, 2023 deadline. From the letter, Nasdaq indicated the Company’s securities would be suspended from Nasdaq trading at the open of business May 26, 2023.
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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.