Baudax Bio Inc. (NASDAQ:BXRX)soared 23% after announcing the filing of Form 4 SEC showing that its CFO Richard Casten has purchased a considerable number of its shares. Casten purchased around 50,000 shares at $0.51 per share.The company also announced its Q2 2021 financial results with total ANJESO vials sold during the quarter to end-users matching total vials sold the whole year last year.
CEO Gerri Henwood said they are delighted to witness sting end-user demand for ANJESO in Q2 2021 based on various measures for hospital-based drugs. This includes the substantial increase in the amount of vials sold, sales to hospital accounts, end-user sales, and new ASCs sales.
The company reported that ANJESO had added more than 100 formularies barely a year after hitting the market. In addition, Baudax Bio has been receiving encouraging physicians feedback with an increase in units sold, new accounts, usage patterns in the surgical environment, and reorder rates with a success rate of more than 80% at the Pharmacy and Therapeutic committee meetings. So, in the coming months, BDRX is worth watching.
Market Reaction:
On Tuesday, BXRX stock surged 23% at $0.6439 with more than 45.97 million shares, compared to its average volume of 2.34 million shares. The stock has moved within a range of $0.5850 – 0.7100 after opening the trade at $0.67.
