Will Third Time Prove A Charm For Baudax Bio?

(RTTNews) - Baudax Bio Inc., a spinoff from Recro Pharma Inc (REPH), began trading on the NASDAQ Capital Market under the ticker symbol "BXRX" on November 22, 2019. The shares have gained more than 50 percent over the last three trading days.

Baudax Bio is a specialty pharmaceutical company developing innovative products for patients in acute care settings. The Company's lead product candidate is a proprietary IV injectable form of Meloxicam, a non-opioid candidate for pain reduction.

The intravenous Meloxicam has been twice rejected by the FDA - in May 2018 and in March 2019.

However, the Company remains steadfast in its belief that IV Meloxicam holds significant potential as a treatment option for moderate to severe pain in multiple clinical settings and remains committed to pursuing a path to regulatory approval.

Baudax recently received a written decision from the FDA granting an appeal for the 2019 Complete Response Letter relating to its IV Meloxicam New Drug Application. The Company is now in the process of preparing a comprehensive response to the FDA that includes proposed labeling and certain other information.

In addition to IV Meloxicam, the Company's pipeline includes two novel neuromuscular blocker agents (NMBs) and a related proprietary chemical reversal agent, and Dex-IN, a proprietary intranasal formulation of dexmedetomidine, a selective alpha-2 adrenergic agonist that has demonstrated sedative, analgesic and anxiolytic properties, all of which are under preclinical or phase I testing.

BXRX closed Tuesday's trading at $6.86, up 50.44%. In after-hours, the stock was up another 54.46% to $6.92.