ANI Pharmaceuticals (ANIP)

[Just the facts maam]

As a result of the merger with Ani Pharmaceuticals and the subsequent revers split. BPAX shareholders ended up with approx. 4,125,800 shares of ANIP (43% of the merged company).

Any company would have easily paid over $1 billion back in 2012 for the rights to the discovery that produced a 70% reduction in cardiovascular events. Even though the patents were still being prosecuted. Patents for HSDD and general TRT were already secured and good to between 2028 and 2031.

This would have given BPAX shareholders approx. $242/today's Anip share back in 2012. A $2 billion offer would have given BPAX shareholders the $484/today's ANIP share.

The fact BPAX did not go public with the information means there was a much better offer or potential offer on the table which made it worth their while to go silent.


Dew Dilligence has compiled a list of Biotech buyouts. You can see how they compare with respect to BPAX and their discovery.

Biotech buyouts