GlobeNewswire Inc | Oct 2, 2020 04:05PM EDT

October 02, 2020

MALVERN, Pa., Oct. 02, 2020 (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 inducement grants of stock options to purchase an aggregate of 24,000 shares of Baudax Bios common stock and restricted stock units covering 6,000 shares of Baudax Bios common stock to 3 newly-hired employees, with a grant date of September 30, 2020. The equity awards were granted pursuant to the Nasdaq Rule 5635(c)(4) inducement grant exception as a component of each individuals employment compensation and were granted as an inducement material to his or her acceptance of employment with Baudax Bio.

The options have an exercise price equal to $2.77 per share, the closing price of Baudax Bios common stock as reported by Nasdaq on September 30, 2020. 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 each individuals continued service with Baudax Bio through the applicable vesting dates.

About Baudax Bio, Inc.

Baudax Bio is a pharmaceutical company focused on therapeutics for acute care settings. The launch of Baudax Bios first commercial product, ANJESO, began in June of 2020. Baudaxs New Drug Application for ANJESO was approved by the U.S. Food and Drug Administration on February 20, 2020 for the management of moderate to severe pain, alone or in combination with other non-NSAID analgesics. 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. As a non-opioid, IV meloxicam has the potential to overcome many of the issues associated with commonly prescribed opioid therapeutics, including respiratory depression, constipation, excessive nausea and vomiting, as well as having no addictive potential while maintaining meaningful analgesic effects for relief of pain. For more information please visit www.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 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 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 its 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 its 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 Baudax Bios business and future results included in its 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 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) 600-1902sam@argotpartners.comclaudia@argotpartners.com

Baudax Bio, Inc.Ryan D. Lake(484) 395-2436rlake@baudaxbio.com

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