Why Baudax Bio Shares Are Getting Hammered Today

Baudax Bio Inc BXRX shares are trading lower by 38.5% at $0.34 per share after the company announced late Monday the pricing of a $6.2 million public offering.

What Else?

The closing of the offering is expected to occur on or about September 1st, subject to the satisfaction of customary closing conditions.

Per Baudax Bio, the company intends to use the net proceeds from this offering for pipeline development activities and general corporate purposes.

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According to data from Benzinga Pro, Baudax Bio has a 52-week high of $26.60 and a 52-week low of $0.32.