GlobeNewswire Inc | Apr 1, 2021 07:00AM EDT

April 01, 2021

MALVERN, Pa., April 01, 2021 (GLOBE NEWSWIRE) -- Baudax Bio, Inc. (Nasdaq: BXRX), a pharmaceutical company focused on therapeutics for acute care settings, today announced that the Compensation Committee of Baudax Bios Board of Directors approved an inducement grant of stock options to purchase an aggregate of 7,500 shares of Baudax Bios common stock and restricted stock units covering 2,000 shares of Baudax Bios common stock in connection with one newly-hired employee with a grant date of March 31, 2021. The equity award was granted pursuant to the Nasdaq Rule 5635(c)(4) inducement grant exception as a component of the individuals employment compensation and was granted as an inducement material to his acceptance of employment with Baudax Bio.

The options have an exercise price equal to $1.29 per share, the closing price of Baudax Bios common stock as reported by Nasdaq on March 31, 2021. The options have a ten-year term and vest over four years, with 25% of the number of shares underlying the stock option vesting on the one-year anniversary of the grant date and the remaining shares vesting monthly over 36 months thereafter. The restricted stock units vest annually over four years. The equity awards are subject to the employees continued service with Baudax Bio through the applicable vesting dates.

About Baudax Bio

Baudax Bio is a pharmaceutical company focused on therapeutics for acute care settings. The launch of Baudax Bios first commercial product ANJESObegan in June 2020 following its approval by the U.S. Food and Drug Administration in February 2020. ANJESO is a once daily IV NSAID with preferential Cox-2 activity, which has successfully completed three Phase III clinical trials, including two pivotal efficacy trials, a large double-blind Phase III safety trial and other studies for the management of moderate to severe pain. In addition to ANJESO, Baudax Bio has a pipeline of other pharmaceutical assets including two novel neuromuscular blocking agents (NMBAs) and a proprietary chemical reversal agent specific to these NMBAs which is currently in preclinical studies, and intranasal dexmedetomidine which is being developed for possible uses in pain or sedation. For more information please visitwww.baudaxbio.com.

Cautionary Statement Regarding Forward Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties. Such forward-looking statements reflect Baudax Bios 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 Bios performance to differ materially from those expressed in, or implied by, these forward-looking statements. These forward-looking statements are subject to risks and uncertainties including, among other things, the ongoing economic and social consequences of the COVID-19 pandemic, including any adverse impact on the commercial launch of ANJESO or disruption in supply chain, Baudax Bios ability to maintain regulatory approval for ANJESO, Baudax Bios ability to successfully commercialize ANJESO; the acceptance of ANJESO by the medical community, including physicians, patients, health care providers and hospital formularies; Baudax Bios ability and that of Baudax Bios third party manufacturers to successfully scale-up our commercial manufacturing process for ANJESO, Baudax Bios ability to produce commercial supply in quantities and quality sufficient to satisfy market demand for ANJESO, Baudax Bios ability to raise future financing for continued product development, payment of milestones and ANJESO commercialization, Baudax Bios ability to pay its debt and satisfy conditions necessary to access future tranches of debt, Baudax Bios ability to comply with the financial and other covenants under its credit facility, Baudax Bios ability to manage costs and execute on our operational and budget plans, the accuracy of Baudax Bios estimates of the potential market for ANJESO, Baudax Bios ability to achieve its financial goals; and Baudax Bios 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 our business and future results included in our filings with the Securities and Exchange Commission at www.sec.gov. These forward-looking statements are based on information currently available to us, and we assume no obligation to update any forward-looking statements except as required by applicable law.

CONTACT:

Investor Relations Contact:Argot PartnersSam Martin / Claudia Styslinger(212) 600-1902baudaxbio@argotpartners.com

Media Contact:Argot PartnersDavid Rosen(212) 600-1902david.rosen@argotpartners.com