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Baudax Bio (BXRX) – Priced Common Offering; Reducing Price Target

Health
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Wednesday, August 31, 2022

Baudax Bio (BXRX)
Priced Common Offering; Reducing Price Target

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.

Priced $6.2 million offering. Late Monday, Baudax announced the pricing of its public offering. The offering of 11.819 million shares of common or pre-funded warrants at a public offering price of $0.525 per share were sold as a unit. Each share or warrant unit included a Series A-1 warrant to purchase one share at $0.525, and a Series A-2 warrant to purchase one share at $0.525.  The Series A-1 warrant is exercisable immediately with a 5 year expiration, while the Series A-2 warrant expires 13 months from date of issuance. The gross proceeds of the offering, expected to close on or about September 1st, are around $6.2 million. Baudax intends to use the net proceeds from the offering for pipeline development activities and general corporate purposes.

Pricing is at depressed levels.  While funding needs were anticipated, the Baudax offering of common shares and warrants are coming near all-time lows.  The common stock price, at the $0.525 offering level, has declined 31% since the Q2 financials were released August 11th. 

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. 

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