{"id":401599,"date":"2020-12-17T07:03:20","date_gmt":"2020-12-17T12:03:20","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=401599"},"modified":"2020-12-17T07:03:20","modified_gmt":"2020-12-17T12:03:20","slug":"baudax-bio-announces-12-million-offering-priced-at-a-premium-to-market-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/baudax-bio-announces-12-million-offering-priced-at-a-premium-to-market-2\/","title":{"rendered":"Baudax Bio Announces $12 Million Offering Priced at a Premium to Market"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">MALVERN, Pa., Dec.  17, 2020  (GLOBE NEWSWIRE) &#8212; Baudax Bio, Inc. (NASDAQ:BXRX), a pharmaceutical company focused on therapeutics for acute care settings, (\u201cBaudax Bio\u201d or the \u201cCompany\u201d) today announced that it has entered into a definitive agreement with a healthcare-focused institutional investor for the purchase and sale of an aggregate of 10,300,430 shares of common stock (or prefunded warrants in lieu thereof) and warrants to purchase up to an aggregate of 10,300,430 shares of common stock at a purchase price of $1.165 per share (or $1.155 per prefunded warrant) and accompanying warrant in a registered direct offering priced at-the-market under Nasdaq rules. The warrants have an exercise price of $1.18 per share, are exercisable immediately, and will expire five years following the date of issuance. The closing of the offering is expected to occur on or about December 21, 2020, subject to the satisfaction of customary closing conditions.<\/p>\n<p align=\"start\">H.C. Wainwright &amp; Co. is acting as the exclusive placement agent for the offering.<\/p>\n<p align=\"justify\">The gross proceeds to Baudax Bio from the offering are expected to be approximately $12 million. In addition, in the event the warrants are exercised in full for cash, Baudax Bio expects to receive approximately $12.15 million in additional gross proceeds. However, there is no assurance that all or any portion of the warrants will be exercised prior to their expiration. Baudax Bio currently intends to use the net proceeds from the offering for the commercialization of ANJESO\u00ae, pipeline development activities and general corporate purposes.<\/p>\n<p align=\"justify\">The securities described above are being offered by Baudax Bio pursuant to a \u201cshelf\u201d registration statement on Form S-3 (File No. 333-243488) filed with the Securities and Exchange Commission (SEC) on August 10, 2020 and declared effective on October 2, 2020. The offering of the securities described herein will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the securities being offered will be filed with the SEC.\u00a0 Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC\u2019s website at\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=DXZk29d-jFNMVI87FL9EZ7zWHxnEiMhOOuyFdgI7ons1O-fsshuXIs7wvwSDVbqybOwCHMVIuOOT0NYu_dgVRhRRWaWfXpiVjf38RhhibpxTP1MQe11XOQsfMdgzkggEjM4sN0L2o8YjpaVNtRboO8eM37DsQaEuQDKtW2JPKMrDfLhwRQqNY0-7sDNJp84qrKWR25DuW1CaKBRbq3A7AXQF8jPXtHvtMH78cfi7glU=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">http:\/\/www.sec.gov<\/a> or by contacting H.C. Wainwright &amp; Co., LLC,\u00a0430 Park Avenue, 3rd Floor,\u00a0New York, NY\u00a010022, by telephone at (646) 975-6996, or email at\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=iv6qgyTQr9d93t9zzzkR6MVQbQrzmsdYV1cXGXDT1Sgc7GiI7QqOLhQcKEIdnyAMMzPZ_B6uDilxUH8hL13KptQDNny1LUjtPYIzDfDlaaTZeybKa5OGkN7wA_ej4tQiIqZn_H-jpmNmiRogN6RffDCHhyX8hqrGpqkUzRv8J4cg9G8S-JVG9lEWByhbVlDdnWSYf2eamLJe3vMFTbppPXfPqBb-7pFve-li_zDBMNwWlo1I8BXutlD4TygWddFmleWMOXqQ2PS6rnO6yP8bng==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">placements@hcwco.com<\/a>.<\/p>\n<p align=\"justify\">This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.<\/p>\n<p align=\"justify\">\n        <strong>About\u00a0ANJESO<\/strong>\u00ae<\/p>\n<p align=\"justify\">ANJESO (meloxicam) injection is a proprietary, long-acting, preferential COX-2 inhibitor that possesses analgesic, anti-inflammatory and antipyretic activities, which are believed to be related to the inhibition of cyclooxygenase type 2 pathway (COX-2) and subsequent reduction in prostaglandin biosynthesis. ANJESO was launched in the U.S. in June 2020 following its approval by the Food and Drug Administration in February 2020. ANJESO is indicated for the management of moderate to severe pain, alone or in combination with other non-NSAID analgesics. Because of the delayed onset of analgesia, ANJESO alone is not recommended for use when rapid onset of analgesia is required. ANJESO is supported by two pivotal Phase III clinical efficacy trials, a large double-blind, placebo-controlled Phase III safety trial and four Phase II clinical efficacy trials, as well as other safety studies. As a non-opioid, Baudax Bio believes ANJESO has the potential to overcome many of the issues associated with commonly prescribed opioid therapeutics, including respiratory depression, constipation, excessive nausea and vomiting, as well as having no addictive potential, while maintaining meaningful analgesic effects for relief of pain. ANJESO was designed using the NanoCrystal\u00ae platform, a technology that enables enhanced bioavailability of poorly water-soluble drug compounds. NanoCrystal\u00ae is a registered trademark of Alkermes Pharma Ireland Limited (APIL).<\/p>\n<p align=\"justify\">\n        <strong>About Baudax Bio<\/strong>\n      <\/p>\n<p align=\"justify\">Baudax Bio is a pharmaceutical company focused on therapeutics for acute care settings. The launch of Baudax Bio\u2019s first commercial product ANJESO\u00ae began in June 2020 following its approval by the U.S. Food and Drug Administration in February\u00a02020. ANJESO is a once daily IV NSAID with preferential Cox-2 activity, which has successfully completed three Phase III clinical trials, including two pivotal efficacy trials, a large double-blind Phase III safety trial and other studies for the management of moderate to severe pain. In addition to ANJESO, Baudax Bio has a pipeline of other pharmaceutical assets including two novel neuromuscular blocking agents (NMBAs) and a proprietary chemical reversal agent specific to these NMBAs which is currently in preclinical studies, and intranasal dexmedetomidine which is being developed for possible uses in pain or sedation. For more information please visit\u00a0<u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=b6F0HlTbb_GFnWUtnlE7MYvUbMf4HFPiMEm16NQYpH5SMlihRK9sgox6tNlw31nXyWxBG5zuk8sk1YxwGw68ig==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.baudaxbio.com<\/a><\/u>.<\/p>\n<p align=\"justify\">\n        <strong>Cautionary Statement Regarding Forward Looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">This press release contains forward-looking statements that involve risks and uncertainties. Such forward-looking statements reflect Baudax Bio\u2019s expectations about its future performance and opportunities that involve substantial risks and uncertainties. When used herein, the words \u201canticipate,\u201d \u201cbelieve,\u201d \u201cestimate,\u201d \u201cmay,\u201d \u201cupcoming,\u201d \u201cplan,\u201d \u201ctarget,\u201d \u201cgoal,\u201d \u201cintend,\u201d and \u201cexpect,\u201d and similar expressions, as they relate to Baudax Bio or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information available to Baudax Bio as of the date of publication on this internet site and are subject to a number of risks, uncertainties, and other factors that could cause Baudax Bio\u2019s performance to differ materially from those expressed in, or implied by, these forward-looking statements. These forward-looking statements are subject to risks and uncertainties including, among other things, the completion of the registered direct offering, the satisfaction of customary closing conditions related to the registered direct offering and the intended use of proceeds from the registered direct offering, the ongoing economic and social consequences of the COVID-19 pandemic, including any adverse impact on the commercial launch of ANJESO\u00ae or disruption in supply chain, Baudax Bio\u2019s ability to maintain regulatory approval for ANJESO, Baudax Bio\u2019s ability to successfully commercialize ANJESO; the acceptance of ANJESO by the medical community, including physicians, patients, health care providers and hospital formularies; Baudax Bio\u2019s ability and that of Baudax Bio\u2019s third party manufacturers to successfully scale-up our commercial manufacturing process for ANJESO, Baudax Bio\u2019s ability to produce commercial supply in quantities and quality sufficient to satisfy market demand for ANJESO, Baudax Bio\u2019s ability to raise future financing for continued product development, payment of milestones and ANJESO commercialization, Baudax Bio\u2019s ability to pay its debt and satisfy conditions necessary to access future tranches of debt, Baudax Bio\u2019s ability to comply with the financial and other covenants under its credit facility, Baudax Bio\u2019s ability to manage costs and execute on our operational and budget plans, the accuracy of Baudax Bio\u2019s estimates of the potential market for ANJESO, Baudax Bio\u2019s ability to achieve its financial goals; and Baudax Bio\u2019s ability to obtain, maintain and successfully enforce adequate patent and other intellectual property protection. These forward-looking statements should be considered together with the risks and uncertainties that may affect our business and future results included in our filings with the Securities and Exchange Commission at <u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=ey9-jA8N8GGqHC9fXIedcRACFyfo4n-rpQxzy3hiBtijpWJuENs6Z-6EutemkLBm3RkWhUa4j6ihmG6DV9k04w==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.sec.gov<\/a><\/u>. These forward-looking statements are based on information currently available to us, and we assume no obligation to update any forward-looking statements except as required by applicable law.<\/p>\n<p align=\"start\">\n        <strong>CONTACT:\u00a0\u00a0\u00a0<\/strong>\n      <\/p>\n<p align=\"start\">Investor Relations Contact: <br \/> Argot Partners <br \/> Sam Martin \/ Claudia Styslinger <br \/> (212) 600-1902 <br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Z3dd-xI5vr3jkb8fTw6EbFF480yNvuHZs49TW0vWYGCOH_Uned36-KyUnOIWqWkw0iwDoMOMMK63uVZs2HBvF5-r8uB9ybZWCqnvL1P5cg3xcVRCErArO1FySyhlES47V9rNIBDNGxvPhtjeVGU1-AeNIIsfx6GldFAIfLBswr62UmWFGPtd6pMnnkO2RAuVlunFei8QNs-halC_B1t0fDCxIRPaFIJVgqawzKx-5WjGmfVdLiqzpZuCWJRqu2JEePVSZq2PZRcCQ482fL35EQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>sam@argotpartners.com<\/u><\/a><br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Mpj2KqstfgtVU1HF81dfwjK5hnYOBHxRfRnokNCvsnbKMTeP0EOn1JDvE1LCyIi4thwy-aoiqiNX0L3DNbW3cyfvJYCpaJlHEYCPBhGHy2okDOnXy3S1QMGJ1flr5xK3vaQJUihfEuwT80HF918Z-P5pwIScE7ePtRsuZgRMXL66KTWTdwtOdcFZoruQ4gqMDpHUhOhTw8DRgRu7LkFFsBxi4ssNhZBRfIJaN9S9XD-W-LgVMamG8vpntbODTTgT8Lg_xns3kXhP0D9t_QzGdw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>claudia@argotpartners.com<\/u><\/a>\u00a0\u00a0\u00a0<\/p>\n<p align=\"start\">Baudax Bio, Inc. <br \/> Ryan D. Lake <br \/> (484) 395-2436 <br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=hDWY6B3XsDrswx8p1miew1Mg6w5gUbk-POTtC4I0xNiaryfsYzKPlIO2wZc1B2c3tRDt1xQxQwRzsW4iY60m8EMcNvezV7iu6ExbmF4R7nSrgH6sJq_E-P7bdo5BXRhAWQHQtBxVD9YlYA8to8HbDb7hZ8su2-yiSyUBNI_j6f4xhml6agMUmaT-LeUIwUj3PP8vRrZsRhJ2qL_TgxSimw6RnSPKh6YQp3XxmCaKJM70hvteVtA46FSTnTHcq-FiwfeVskXx6k-aaGPRDrpv2A==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>rlake@baudaxbio.com<\/u><\/a><\/p>\n<p align=\"start\">Media Contact: <br \/> Argot Partners <br \/> David Rosen <br \/> (212) 600-1902 <br \/><u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=DmDmRXKMctuCT9lGwrXExgJyc4iZLemKHcWIEZ2CjcLOCRYsLL-5VCSPbN0Eskd5rmNgkylYHStFF1hW0Yh_KwtkYZqQR_hVYuODpvWSL12uzslrIngBqCO84f8ubK00KF9XY9SDaTByK2VR2V1Rh0EIMmeF9oevxl9toTGsnVBFKA8dNNDAqLcNEtJa5hqHQZ5XSZBl8jXl0gHLD0plrWSsoqnv38yYuBrJpMdbHOznDNrHAZZheKF8sghV9LDrvfOngRiUocXIwV1yjoQnVx5KmhSQPEDRbh5SnPULlNk=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">david.rosen@argotpartners.com<\/a><\/u>\u00a0<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExMzgyNiMzODg2MDM4IzIxOTM0NDI=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/2fdc502c-4c5c-4f4a-85a1-f11801e1f31a\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>MALVERN, Pa., Dec. 17, 2020 (GLOBE NEWSWIRE) &#8212; Baudax Bio, Inc. (NASDAQ:BXRX), a pharmaceutical company focused on therapeutics for acute care settings, (\u201cBaudax Bio\u201d or the \u201cCompany\u201d) today announced that it has entered into a definitive agreement with a healthcare-focused institutional investor for the purchase and sale of an aggregate of 10,300,430 shares of common stock (or prefunded warrants in lieu thereof) and warrants to purchase up to an aggregate of 10,300,430 shares of common stock at a purchase price of $1.165 per share (or $1.155 per prefunded warrant) and accompanying warrant in a registered direct offering priced at-the-market under Nasdaq rules. The warrants have an exercise price of $1.18 per share, are exercisable immediately, and will expire five years &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/baudax-bio-announces-12-million-offering-priced-at-a-premium-to-market-2\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Baudax Bio Announces $12 Million Offering Priced at a Premium to Market&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-401599","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Baudax Bio Announces $12 Million Offering Priced at a Premium to Market - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/baudax-bio-announces-12-million-offering-priced-at-a-premium-to-market-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Baudax Bio Announces $12 Million Offering Priced at a Premium to Market - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"MALVERN, Pa., Dec. 17, 2020 (GLOBE NEWSWIRE) &#8212; Baudax Bio, Inc. (NASDAQ:BXRX), a pharmaceutical company focused on therapeutics for acute care settings, (\u201cBaudax Bio\u201d or the \u201cCompany\u201d) today announced that it has entered into a definitive agreement with a healthcare-focused institutional investor for the purchase and sale of an aggregate of 10,300,430 shares of common stock (or prefunded warrants in lieu thereof) and warrants to purchase up to an aggregate of 10,300,430 shares of common stock at a purchase price of $1.165 per share (or $1.155 per prefunded warrant) and accompanying warrant in a registered direct offering priced at-the-market under Nasdaq rules. 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/baudax-bio-announces-12-million-offering-priced-at-a-premium-to-market-2\/","og_locale":"en_US","og_type":"article","og_title":"Baudax Bio Announces $12 Million Offering Priced at a Premium to Market - Market Newsdesk","og_description":"MALVERN, Pa., Dec. 17, 2020 (GLOBE NEWSWIRE) &#8212; Baudax Bio, Inc. (NASDAQ:BXRX), a pharmaceutical company focused on therapeutics for acute care settings, (\u201cBaudax Bio\u201d or the \u201cCompany\u201d) today announced that it has entered into a definitive agreement with a healthcare-focused institutional investor for the purchase and sale of an aggregate of 10,300,430 shares of common stock (or prefunded warrants in lieu thereof) and warrants to purchase up to an aggregate of 10,300,430 shares of common stock at a purchase price of $1.165 per share (or $1.155 per prefunded warrant) and accompanying warrant in a registered direct offering priced at-the-market under Nasdaq rules. The warrants have an exercise price of $1.18 per share, are exercisable immediately, and will expire five years &hellip; Continue reading \"Baudax Bio Announces $12 Million Offering Priced at a Premium to Market\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/baudax-bio-announces-12-million-offering-priced-at-a-premium-to-market-2\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-17T12:03:20+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExMzgyNiMzODg2MDM4IzIxOTM0NDI=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/baudax-bio-announces-12-million-offering-priced-at-a-premium-to-market-2\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/baudax-bio-announces-12-million-offering-priced-at-a-premium-to-market-2\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Baudax Bio Announces $12 Million Offering Priced at a Premium to Market","datePublished":"2020-12-17T12:03:20+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/baudax-bio-announces-12-million-offering-priced-at-a-premium-to-market-2\/"},"wordCount":1274,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/baudax-bio-announces-12-million-offering-priced-at-a-premium-to-market-2\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExMzgyNiMzODg2MDM4IzIxOTM0NDI=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/baudax-bio-announces-12-million-offering-priced-at-a-premium-to-market-2\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/baudax-bio-announces-12-million-offering-priced-at-a-premium-to-market-2\/","name":"Baudax Bio Announces $12 Million Offering Priced at a Premium to Market - 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