Filed Pursuant to Rule 424(b)(3)
Registration No. 333-235408
Warrants to Purchase 10,021 Shares of Common Stock
(and up to 10, 021 Shares of Common Stock Issuable Upon Exercise of Such Warrants)
This prospectus supplement, dated December 2, 2022 (Supplement), filed by Baudax Bio, Inc. (the Company), modifies and
supplements certain information contained in the Companys prospectus supplement, dated May 31, 2021 (as amended and supplemented on August 25, 2022, and as may be further amended and supplemented from time to time, the
Prospectus Supplement), as part of the Companys Form S-3 Registration Statement declared effective by the Securities and Exchange Commission on December 16, 2019. This Supplement is not
complete without, and may not be delivered or used except in connection with, the Prospectus Supplement, including all amendments and supplements thereto. The Prospectus Supplement relates to offering of warrants to purchase up to 10,021 shares of
our common stock and this Supplement relates to 6,013 warrants that were sold in that offering (collectively, the Warrants) (and the shares of common stock issuable from time to time upon exercise of these warrants) pursuant to the terms
of a securities purchase agreement that we entered into on May 31, 2021.
On December 2, 2022, the Company entered into a warrant amendment
agreement a certain warrant holder of the Warrants (the Amendment) whereby the Company agreed to amend the Warrants held by such holder by reducing the exercise price of the Warrants held by such holder to $4.50 per share of common stock
and agreed to extend the original expiration date of the Warrants held by such holder to December 6, 2027.
Accordingly, this Supplement amends and
supplements the Prospectus Supplement to reflect (i) an amendment of the exercise price of the Warrants from $23.92 per share of common stock to $4.50 per share of common stock and (ii) the extension of the expiration date of the Warrants
to December 6, 2027, each in accordance with the terms of the Amendment and all references in the Prospectus Supplement to (a) the exercise price with respect to the Warrants and (b) the expiration date with respect to the Warrants,
are hereby amended and restated to reflect an exercise price of $4.50 per share of common stock and an expiration date of December 6, 2027. Following the Amendment, if all of the amended Warrants are exercised for cash, we would receive gross
proceeds of approximately $27,000.
The information in this Supplement modifies and supersedes, in part, the information contained in the Prospectus
Supplement. Any information that is modified or superseded in the Prospectus Supplement shall not be deemed to constitute a part of the Prospectus Supplement, except as so modified or superseded by this Supplement. We may further amend or supplement
the Prospectus Supplement from time to time by filing additional amendments or supplements. You should read the entire Prospectus Supplement and any amendments or supplements carefully before you make an investment decision.
The Companys common stock is traded on the Nasdaq Capital Market under the symbol BXRX. On December 1, 2022, the closing sale price of
the Companys common stock was $4.50 per share.
Investing in our common stock involves a high degree of risk. You should review carefully the
risks and uncertainties described under the heading Risk Factors contained in the Prospectus Supplement, in our Annual Report on Form 10-K for the year ended December 31, 2021, and in our
subsequently filed periodic and current reports and documents incorporated by reference therein and herein, which we file with the Securities and Exchange Commission, which describe specific risks and other information that should be considered
before you make an investment decision.