Resignation announced. Chairman of the Board of Directors Alfred Altomari announced March 30, 2022, that he was intending to resign. Mr. Altomari has been a director at Baudax Bio since 2019, and was a prior member of the Recro Pharma Board (Recro spun out Baudax Bio to shareholders in 2019). Mr. Altomari has extensive pharmaceutical experience and is currently Chairman and CEO at Agile Therapeutics, and serves on the board of Insmed, Inc.Resignation effective with shareholder meeting. Mr. Altomari announced that his resignation would be immediately following the Annual Meeting of Shareholders to be held May 4, 2022.No reason given but appears amicable. In the filing making the announcement, it was stated Mr. Altomari's decision was not driven by any disagreement with the company's operations, policies or practices. Baudax Bio intends to appoint a new Chairman prior to the Annual Meeting, but will be reducing the overall size of the Board from seven to six directors. No change in outlook. Although Mr. Altomari's guidance and experience will be missed, we don't believe this suggests a meaningful change in direction for Baudax Bio. Our estimates and rating remain, as does our $10.00 price target. Read More >>