Baudax Bio, Inc. (BXRX) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18
	10-K	10-K	10-K	10-K	10-K
Revenues	1.3	1.1	0.5	47.1	0.0
Revenue growth	17.5%	119.1%	-99.0%
Cost of goods sold	58.1	20.1	75.3	32.5	0.0
Gross profit	-56.8	-19.0	-74.8	14.6	0.0
Gross margin	-4477.0%	-1759.8%	-15169.6%	30.9%
Selling, general and administrative [+]				27.0	29.5
General and administrative	0.0	0.0	0.0		29.5
Research and development				20.1	35.6
Other operating expenses	4.0	1.6	-15.5		8.5
EBITDA [+]				-32.0	-73.1
EBITDA growth	195.2%	-65.3%	85.2%	-56.2%
EBITDA margin	-4789.9%	-1906.5%	-12032.7%	-68.1%
Depreciation	-2.0	-2.6	-2.1	0.5	0.4
EBITA	-58.8	-18.0	-57.2	-32.5	-73.5
EBITA margin	-4632.5%	-1668.0%	-11597.4%	-69.1%
Amortization of intangibles	2.0	2.6	2.1
EBIT [+]	-60.8	-20.6	-59.3	-32.5	-73.5
EBIT growth	195.2%	-65.3%	82.4%	-55.8%
EBIT margin	-4789.9%	-1906.5%	-12032.7%	-69.1%
Interest expense			1.4
Other income (expense), net [+]	2.0	0.8	-15.4	0.0	-0.1
Change in fair value of warrants	0.0	-0.1	16.7
Change in value of contingent liability				-14.6	8.5
Pre-tax income	-58.8	-19.8	-76.1	-32.6	-73.7
Income taxes	0.0	0.0	0.0	0.0	0.0
Tax rate	0.0%	0.0%	0.0%	0.0%	0.0%
Net income	-58.8	-19.8	-76.1	-32.6	-73.7
Net margin	-4633.2%	-1830.5%	-15436.1%	-69.2%

Basic EPS [+]	($177.30)	($361.16)	($142.87)	($3.48)	($7.88)
Growth	-50.9%	152.8%	4003.5%	-55.8%
Diluted EPS [+]	($177.30)	($361.16)	($142.87)	($3.48)	($7.88)
Growth	-50.9%	152.8%	4003.5%	-55.8%

Shares outstanding (basic) [+]	0.3	0.1	0.5	9.4	9.4
Growth	505.8%	-89.7%	-94.3%	0.0%
Shares outstanding (diluted) [+]	0.3	0.1	0.5	9.4	9.4
Growth	505.8%	-89.7%	-94.3%	0.0%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.