The pharmaceutical company Baudax Bio Inc (NASDAQ:BXRX) has come on to the radars of many investors this week and on Wednesday, the stock was on the move as it ended the day with gains of as much as 13%.
While the rally in the stock is substantial, it is also necessary to note that there has been no news about Baudax for some weeks and the last news to have emerged was back on August 5. On that day, the company announced its financial results for the quarter as well as the six month period, both of which ended on June 30, 2021.
The company noted that at the end of the period, it had short term investments, cash equivalents and cash to the tune of as much as $37.6 million.
On the other hand, Baudax generated net revenues to the tune of as much as $0.2 million from the sales of its product ANJESO in the United States. In the prior year period, the sales had stood at $0.3 million. On the other hand, the cost of sales for Baudax in the second quarter stood at $0.6 million and that was lower than the cost of sales of $0.7 million in the prior year period.