Shares of Baudax Bio Inc. BXRX, +27.76% soared 62.6% in premarket trading on Friday, the day after the company said it started a Phase 2 clinical trial evaluating an experimental treatment for neuromuscular blockade in 80 adult patients having elective surgery.
“This could be significantly impactful for patients, surgeons, and anesthesiologists by enhancing safety, and possibly saving time and reducing costs related to delayed recovery from neuromuscular paralysis following surgical procedures,” Baudax CEO Gerri Henwood said in a news release. The company expects to complete enrollment in the study in March. Baudax’s stock is down 98.6% this year, while the S&P 500 SPX, -0.73% has declined 16.8%.