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Tag: BXRX stock

  • Baudax Bio Inc. (BXRX) stock Plummets Premarket Following Pricing of $10M Public Offering

    Baudax Bio Inc. (BXRX) stock Plummets Premarket Following Pricing of $10M Public Offering

    On February 24, Baudax Bio Inc. (BXRX) announced the pricing of a $10.0 million public offering. Following this, the stock plunged deep in the premarket on Friday.

    During the regular session, the stock enjoyed a profit of 12.89% as it added $0.50. At an above-average volume of 306.34K shares, BXRX stock closed the session at $4.38. While the stock did make some good gains, it reported its new 52-week low of $3.6030 during the regular session. Following the public offering, BXRX stock plunged deep in the premarket to reach a value of $2.00 per share. At the time of writing, the stock had subtracted a huge 54.33% in the premarket on Friday. Thus, BXRX had gone down by $2.38, at the last check, in the premarket.

    The pharmaceutical company, Baudax Bio Inc. has a market capitalization of $9.38 million. Currently, the company has 2.42 million shares outstanding in the market. BXRX stock went down by a humungous 90.73% last year and has lost 42.91% year to date.

    BXRX’s Public Offering

    On Thursday, the company announced the pricing of its underwritten public offering of 3,508,772 common stock shares and warrants. The combined public offering price of a common stock share together with a warrant for buying a common stock share is $2.85 per share. Moreover, the exercise price of the warrants is $3.25 per share and has five-year expiry following the issuance date. The expected gross proceeds from the offering are $10.0 million, less commission, and discounts.

    Additionally, BXRX has also granted an option for buying additional 526,315 common stock shares and/or warrants for the same.

    The company intends to use the net proceeds from the offering for general corporate purposes along with pipeline development including ANJESO commercialization.

    Reverse Stock Split

    On February 15, the company announced the approval of a 1-for-35 reverse stock split of common shares by its board. The stock split became effective at 12:01 am EST on February 16, 2022. This reverse stock split was also approved by the shareholders on February 09, 2022, during a special meeting.

    Furthermore, the purpose of the stock split was to bring the company into compliance with Nasdaq’s minimum bid price by increasing the per-share price.

    BXRX’s Financials

    In Q3 2021, the company had net product revenue of $0.3 million against $0.1 million in the year-ago quarter.

    BXRX had a net loss of $17.0 million or $0.20/diluted share in the third quarter of 2021.

    The company ended the quarter with cash, cash equivalents, and short-term investments of $24.9 million.

  • Baudax Bio Inc. (BXRX) stock Rebounds Premarket. Here is what’s happening?

    On January 20, shares of Baudax Bio Inc. (BXRX) skyrocketed in the premarket session to reach $0.27 at the last check. No official news from the company seems to be driving the stock up.

    During regular trading, the stock saw a high of $0.2149 and a low of $0.1900. BXRX closed the session at $0.1964 with 5.84 million shares exchanging. The stock soon saw a reversal as it entered the premarket session. Hence, BXRX had added a huge 39.96% in the premarket at the time of writing.

    The pharmaceutical company, Baudax Bio Inc. was founded in 2015. Currently, its 84.58 million outstanding shares trade at a market capitalization of $17.24 million.

    BXRX’s Recovery and Movement

    BXRX stock had been gloomy for a few days. After losing 7.36% in the past five days, the stock finally recovered in today’s premarket session. There are no recent news or SEC filings from the company that might indicate the reason for the upsurge. Although, the company does have an upcoming event. The company will be holding a special meeting of shareholders on February 09, 2022.

    This depicts that the stock may be moving up due to some external factors like investors’ interest based on social media platforms or the low in the price being a good buying opportunity, etc.

    Overall, BXRX stock has lost 10.40% year to date while it subtracted a huge 88.45% last year.

    Recent Developments

    Recently, the company participated in the H.C. Wainwright BioConnect Virtual Conference which took place from January 10 to 13, 2022. The company’s President and Chief Executive Officer, Gerri Henwood presented at the conference.

    BXRX’s Inducement Grant

    On December 31, the company announced awarding inducements grants to 14 newly-hired employees, with a grant date of December 29, 2021. Moreover, BXRX’s Board’s Compensation Committee approved the grants. Under these grants stock options of buying 109,250 of the company’s common stock hares and restricted stock units covering 31,900 shares, were awarded.

    In addition, as per the closing price on December 29, the exercise price of these options is $0.22 per share.

    Financial Details

    On November 04, 2021, the company declared its financial results for the third quarter of 2021.

    In the third quarter of 2021, BXRX reported net product revenue of $0.3 million against $0.1 million in the year-ago quarter.

    Moreover, the company suffered from a net loss of $17.0 million in Q3 of 2021, against an adjusted net loss of $11.3 million in Q3 of 2020. This also included a $5.7 million non-cash charge. Resultantly, the net loss per diluted share was $0.20 in the third quarter of 2021.