Baudax Bio (NASDAQ:BXRX) stock is rocketing higher on Friday after the pharmaceutical company initiated a Phase 2 clinical trial of BX1000.
BX1000 is the company’s drug candidate for neuromuscular blockade (NMB) in patients undergoing elective surgery. The current clinical trial will include 80 patients undergoing elective surgery in an outpatient setting. These patients will range in age from 18 to 65 years old.
Baudax Bio is hoping to see specific results from the clinical trial concerning the effectiveness of the NMB treatment. The company needs this so that it can move forward with plans for a New Drug Application (NDA) submission to the U.S. Food and Drug Administration (FDA).
When Investors Can Expect Results From The Study
Baudax Bio says it hopes to provide an interim analysis of the clinical trial in early 2023. The company is also expecting full enrollment in the study by the end of March 2023. That means investors will have to wait until sometime after that for results from the Phase 2 study.
Gerri Henwood, President and CEO of Baudax Bio, said the following in a news release:
“We believe that BX1000, in combination with BX3000 (reversal agent), may permit precise control of the time patients are under neuromuscular paralysis. 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.”
With today’s clinical trial news comes heavy trading of BXRX stock. As of this writing, some 6 million shares are on the move. That’s well above the daily average trading volume of about 1 million shares.
BXRX stock is up 45.5% as of Friday morning!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.