GlobeNewswire Inc | Oct 1, 2021 04:18PM EDT

October 01, 2021

MALVERN, Pa., Oct. 01, 2021 (GLOBE NEWSWIRE) -- Baudax Bio, Inc. (NASDAQ:BXRX), a pharmaceutical company focused on commercializing and developing innovative products 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 242,688 shares of Baudax Bios common stock and restricted stock units covering 79,385 shares of Baudax Bios common stock to 22 newly-hired employees, with a grant date of September 30, 2021. 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 $0.56 per share, the closing price of Baudax Bios common stock as reported by Nasdaq on September 30, 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 one-year anniversary of the applicable vesting commencement date (based on the quarter in which the applicable employees employment commenced) 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

Baudax Bio is a pharmaceutical company focused on commercializing and developing innovative products for acute care settings. ANJESO is the first and only 24-hour, intravenous (IV) COX-2 preferential non-steroidal anti-inflammatory (NSAID) for the management of moderate to severe pain. In addition to ANJESO, Baudax Bio has a pipeline of other innovative pharmaceutical assets including two novel neuromuscular blocking agents (NMBAs) and a proprietary chemical reversal agent specific to these NMBAs. For more information, please visitwww.baudaxbio.com.

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 risks and uncertainties include, among other things, risks related to 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 the 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 Baudax Bios 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 assumes no obligation to update any forward-looking statements except as required by applicable law.

CONTACTS:

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

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