Baudax Bio sinks on $6.2 million public offering

Baudax Bio

30/08/2022 11:26

** Shares of drug developer Baudax Bio Inc  BXRX.O  slump
33.6% to $0.36 premarket
    ** Co reported late on Monday it plans to raise
approximately $6.2 mln for pipeline development activities and
general corporate purposes  urn:newsml:reuters.com:*:nGNXbsnRcZ
    ** Baudax would offer about 11.8 mln shares of its common
stock and warrants at $0.525 per share 
    ** The offering is expected to close on or about Sept 1
    ** H.C. Wainwright & Co is acting as the exclusive placement
agent for the offering
    ** Baudax has 8.07 mln shares outstanding - Refinitiv data
    ** As of last close, stock down ~93% YTD

 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com;))