Baudax Bio Regains Compliance with NASDAQ Listing Requirements
08 March 2022 - 12:00AM
Baudax Bio, Inc. (NASDAQ:BXRX), a pharmaceutical company focused on
commercializing and developing innovative products for acute care
settings, announced that the Company received a letter on March 3,
2022 from The Nasdaq Stock Market noting the Company has regained
compliance with the minimum bid price requirement under Listing
Rule 5550(a)(2), which requires the Company to maintain a minimum
closing bid price of $1.00 per share. Nasdaq staff made
this determination of compliance after the Company's bid price
closed above $1.00 per share for 10 consecutive business
days from February 16, 2022 to March 2, 2022, and has now deemed
the matter closed.
About Baudax Bio
Baudax Bio is a pharmaceutical company focused
on commercializing and developing 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.
Forward-Looking Statements
This press release contains forward-looking
statements that involve risks and uncertainties. Such
forward-looking statements reflect Baudax Bio’s expectations about
its future performance and opportunities that involve substantial
risks and uncertainties. When used herein, the words “anticipate,”
“believe,” “estimate,” “may,” “upcoming,” “plan,” “target,” “goal,”
“intend,” and “expect,” 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’s performance to differ materially from those expressed in, or
implied by, these forward-looking statements, including, but not
limited to, risks related to the ongoing economic and social
consequences of the COVID-19 pandemic, Baudax Bio’s ability to
advance its current product candidate pipeline through pre-clinical
studies and clinical trials, Baudax Bio’s ability to raise future
financing for continued development of its product candidates such
as BX-1000, BX-2000 and BX-3000, Baudax Bio’s ability to pay its
debt and satisfy conditions necessary to access future tranches of
debt, Baudax Bio’s ability to comply with the financial and other
covenants under its credit facility, Baudax Bio’s ability to manage
costs and execute on its operational and budget plans, Baudax Bio’s
ability to achieve its financial goals, and Baudax Bio’s 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 Baudax Bio’s business and future results included in
Baudax Bio’s filings with the Securities and Exchange Commission at
www.sec.gov. These forward-looking statements are based on
information currently available to Baudax Bio, and Baudax Bio
assumes no obligation to update any forward-looking statements
except as required by applicable law.
CONTACT:
Investor Relations Contact:
Argot PartnersSam Martin / Kaela Ilami(212)
600-1902baudaxbio@argotpartners.com
Media Contact:
Argot PartnersDavid Rosen(212)
600-1902david.rosen@argotpartners.com
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