Baudax Bio, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Fair Value of Options Estimated on Date of Grant Using Black-Scholes Option Pricing Model

Under the 2019 Plan, the fair value of the Baudax Bio options was estimated on the date of grant using a Black-Scholes option pricing model with the following weighted average assumptions:

	September 30,
	2020
Range of expected option life	6 years
Expected volatility	73.77%
Risk-free interest rate	.41%
Expected dividend yield		—

Under the Recro Equity Plan for the nine months ended September 30, 2019, the fair value of the options granted to employees of the Company was estimated on the date of grant using a Black-Scholes option pricing model with the following weighted average assumptions:

	September 30,
	2019
Range of expected option life	6 years
Expected volatility	79.96%
Risk-free interest rate	2.60%
Expected dividend yield		—

Summary of Stock Option Activity

The following table summarizes Baudax Bio stock option activity during the nine months ended September 30, 2020:

	Number of shares			Weighted average exercise price		Weighted average remaining contractual life
Balance, December 31, 2019		643,879		$	6.33	9.9 years
Granted		840,299		$	3.48
Expired/forfeited/cancelled		(22,500	)	$	4.15
Balance, September 30, 2020		1,461,678		$	4.72	9.5 years
Vested		120,720		$	6.33	9.2 years
Vested and expected to vest		1,461,678		$	4.72	9.5 years

Summary of RSUs Activity

The following table summarizes the Baudax Bio RSUs activity during the nine months ended September 30, 2020:

	Number of shares
Balance, December 31, 2019		1,380,030
Granted		377,351
Vested and settled		(50,240	)
Expired/forfeited/cancelled		(6,000	)
Balance, September 30, 2020		1,701,141
Expected to vest		1,701,141