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BioSante Pharmaceuticals, Inc. Faces Investor Investigations Over LibiGel Efficacy Trial Results

  • If you purchased shares of BioSante Pharmaceuticals, Inc. (NASDAQ: BPAX), you may have certain options and you should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Investigation Overview

Company
BioSante Pharmaceuticals
Security
NASDAQ: BPAX

Summary

San Diego, Jan. 10, 2012 (Shareholders Foundation) -- An investigation on behalf of investors in shares of BioSante Pharmaceuticals, Inc. (NASDAQ:BPAX) over potential securities laws violations by certain officers and directors at Bio Sante Pharmaceuticals in connection with the efficacy trial results for its LibiGel was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of BioSante Pharmaceuticals, Inc. (Public, NASDAQ:BPAX) concerning whether the company, certain of its officers and directors, or others have possibly violated federal securities laws. Specifically, the investigation concerns whether certain statements BioSante Pharmaceuticals business, its prospects and its operations were potentially materially false and misleading at the time they were made.

BioSante Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on developing products for female sexual health and oncology. Its products in human clinical development, include LibiGel, an experimental compound intended to boost womens libido.

BioSante Pharmaceuticals, Inc. reported that is annual revenue rose from $0.49million in 2007 to $2.47million in 2010, while its Net Loss increased from $7.58million in 07 to $46.20millio in 2010. Additionally, while its third quarter Revenue rose from $0.05million in 2010 to $0.198million in 2011, its third quarter Net Loss increased from $11.59million in 2010 to $12.73million in 2011.

Shares of BioSante Pharmaceuticals, Inc. (Public, NASDAQ:BPAX) rose from $1.15 per share in March 09 to as high as $3.64 per share in July 2011.

Then on December 14, 2011, BioSante Pharmaceuticals, Inc announced the results from LibiGel Efficacy Trials.

BioSante Pharmaceuticals, Inc. (NASDAQ: BPAX) said that the initial analysis of the data from these trials shows that the trials did not meet the co-primary or secondary endpoints. BioSante's president & CEO said that they are very disappointed by the Phase III LibiGel efficacy trial results.
Shares of BioSante Pharmaceuticals, Inc. (Public, NASDAQ:BPAX) fell from $2.50 on December 14, 2011, to $0.48 per share on December 15, 2011.

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