BioSante Pharmaceuticals, Inc. (BPAX)

[porgyrusty]

Simes goodbye present for all you longs, another R/S, and ANIP's welcoming present is going to be a stock offering, NO way they let the float stay this low at this price without doing some financing. Its coming, be ready!

[nutsyprofessor]

We are down to only 9.5 million outstanding shares. Trading volume will be low. ANIP now needs to follow up this r/s with some f'ing good news. By the way, I think Simes should be thrown in jail. He is a lying, slimmy, and cheating SOB.

[homeslice10]

Its no different than before the split, if the market sells off, its a buy for me. And with this ratio, I don't have to type in as many 0's.

[catty]

Pete: $60 - that would make me about even

[Dr PeteRose MLB]

Wow. 60 bucks a share, I also feel for all of those with high PPS to get to.
JTFM, tomorrow would be a great day to start the power play and turn loose several PR's that we believe they have been sitting on for several month. I'd love 60 per share.
Time will tell, but I'm not getting my hopes up.
good luck all

[Just the facts maam]

I feel for the CEGE group but even though the orphan GVAX portfolio has been sold to Aduro, they manage to spin off Cold Genesys and Ceregene which appears to be further down the development path and potentially larger revenue generators. So hopefully, these all pan out.

You have every right to be skeptical. But on the surface, the fact that the R/S also applies to outstanding shares is probably intended to send a strong signal to the markets that ANI feels confident they will be using revenues to grow the company, no more dilution to fund research or operations. Let us hope this is the case.


By contrast when Biosante did the last R/S the did not reduce their total outstanding shares according. This sent the message that further dilution will be coming. Which is exactly what happened.

Time for a good PR streak.

GLTA

[lurazh]

Thank you JTFM!

What you are describing is the ideal route, but being in this stock from CEGE times taught me that it rarely works out the way we expect, for this particular company that is.

Przybyl is facing a huge task to turn this company around. I hope he delivers.

[Just the facts maam]

Luzah, since they reduced outstanding shares proportionally the $60 pps would equal a market cap of approx. $573 million.

Akorn, Przybyl's former company has a market cap of $1.29 billion with $256 million in annual revenue. Everything being equal if ANI gets their revenue up to $114 million you could break even.

ANI alone projected revenue of $147.4 million for 2017. This does not include any revenue from Bio-t-gel, Elestrin, Biosante or the Pill plus. Nor does it include any revenue from manufacturing Biosante's pipeline.

ANI's projected Revenue to EBITDA ratio is very similar, however once Biosante's pipeline starts generating revenue this will increase the company's revenue with little expense which should increase the PPS and require less revenue to get to $60. Not to mention that they have $10 million to shop for additional product product.

It should also be noted that management performance bonuses are directly tied to Revenues and EBITDA

The Board furthermore approved the Company’s annual management bonus program for 2013. Under this program, the target bonuses, as a percentage of base compensation, for the Company’s executive officers are as follows: Mr. Przybyl: 50%, Ms. Arnold: 40%, Mr. Marken: 30% and Mr. Jamnick: 30%. Performance targets for all executive officers are based on revenue and EBITDA.

If New Management really wants to make a go of ANI, $60 pps is very doable over the next 2 years, if not sooner.

[lurazh]

Well, it is time to say goodbye to any hope to break even for me: there is almost 0% chance this stock would ever reach $60.

Oh well...

[Just the facts maam]

BioSante Pharmaceuticals, Inc. (BPAX) has announced a 1-for-6 reverse stock split. Additionally, BioSante Pharmaceuticals, Inc. will change its name, trading symbol and CUSIP to ANI Pharmaceuticals, Inc. (ANIP), CUSIP 00182C103. As a result, each BPAX Common Share will be converted into the right to receive .166667 (New) ANI Pharmaceuticals, Inc. (ANIP) Common Shares. These changes will become effective before the market open on July 18, 2013.

[Dr PeteRose MLB]

winalove!!!!!
check out my 1.65pps spine stock that's now 5.33pps. I told you so. I've traded in and out at each run up and pull back and am making bank.
just watch the price sky when they announce the start of human trials here in sept or so.
good luck
anyone else interested NVIV

[homeslice10]

I think the special meeting is today. I'm guessing it would take three days. Sounds about right :p

[Just the facts maam]

Will we be trading as Nasdaq compliant ANI by Monday?

[homeslice10]

Nah I'm completely off the margin right now, but may margin in if they can get us some kind of decent progress report. There's no room short-side here. IMO

[RallyTheMarket]

Adding a bit more to your short?

[homeslice10]

I will add a bit more on the potential of a little sell-off on this personel news.

[Just the facts maam]

According to the Wall Street Journal - Sandra J. Croak-Brossman is back with BPAX (Probably ANI right after the R/S) VP-Regulatory Affairs & Quality Assurance.

Look under all BPAX executives. You will notice that many others are gone but she is still here.

BPAX

Snabes gone to Abbvie, Croak-Brossman comes over from Abbott around the time the CV patent applications are filed. Nothing ever divulged about the CV findings. According to Simes he tried to keep her but to no avail and he stated he had the utmost respect for her.

They would have a very hard time convincing a jury that this was not part of a plan orchestrated by Abbott and Abbvie. Especially when you look at the timing of Linda Andrews being hired by Abbott shortly after they hired Croak-Brossman (both were long time employees at Pfizer). Then the timing of Linda Andrews coming over from Abbott in relation and to the changes to the safety and clinical trials in Libigel.

The fact Linda Andrews changed her work experience to mislead people into thinking that is very incriminating evidence. Especially when we know full well that according to her work experience (posted June 23, 2012)that August 2009 she is hired by Abbott. Then between November 2009 and March 2010 (5 months) she apparently worked for both Abbott and Biosante and not as a contractor. Then from March 2010 onward she has remained with Abbott and moved upward in the company.

More on Linda Andrews

November 12, 2009, not only recorded changes to the Libigel trials. It also recorded significant changes to the Androgel Testosterone trial for older men.

Testosterone trial for older men changes

I will have to research but Abbott appears to have started funding the CDC for improved Testosterone testing (low dose T testing)around this time.

One question which remains to be answered "Is Pfizer involved?"

Much speculation has revolved around Abbvie and Pfizer merging, however from what I have read it appears for taxation purposes this can not happen until January 1, 2015, at the earliest.

[Just the facts maam]

Glad to hear you and your wife are having a great time, you have both earned it this year.

[Dr PeteRose MLB]

thanks for clearing that up JTFM. I just googled oxycyte and that's what I was reading. I was going to copy and paste when I saw your post.
we are having a great time as usual, got to be at the beach at 1pm for a booze cruise and late night dinner cruise.
Aloha.

[Just the facts maam]

Tim Brugger may have mispoke as Oxygen Biotherapeutics, Inc, another company in the write up is actually conducting the trial.

Oxycyte trial

[Just the facts maam]

Finally, PR that promotes the company.

Biosante Pharmaceuticals Inc (NASDAQ:BPAX), declared enrollment of the first subject in the second legion of its worldwide Phase IIb clinical test to examine the safety and tolerability of Oxycyte® in patients with an acute, non-penetrating traumatic brain damage.

PR

[Zeppo]

Wow......I am looking at a week's worth of posts that used to be compiled in one day on this site. I wonder how the reverse-split vote tabulation is coming along.

[RallyTheMarket]

Hope? You MUST know by now this is BPAX. OF COURSE IT IS LOL.

[Textbook_Hippie_Man]

Only $6.27 to go....yippie.

[Just the facts maam]

I hear you, Catty.

[catty]

hope this isn't a head fake.

[RallyTheMarket]

Who cares about shorting. Management is diluting shareholders out of existence. The enemy lies within.

Just Mom: The only punching that will be going on is Przybyl punching shareholders below the belt.

[nutsyprofessor]

More importantly, it didn't represent additional shorting :)

[Just the facts maam]

It looks like the heavier volume of June 21st of 1,723,498 shares where pps dropped from $1.23 to $1.00 and subsequently to as low as $0.80 was an effort to accumulate and not to cover.

Short interest only dropped 27,923 shares and remains at 2,749,640 shares as of June 28, 2013.

I certainly hope Przybyl does not give them the opportunity, and comes out punching when we become ANI Pharma.

[RallyTheMarket]

Who cares about short interest anymore. This company does bad all on its own. Company screwed shareholders plain and simple. Doesn't matter if it goes to $10. Doesn't negate screwing shareholders for YEARS.

[Just the facts maam]

Professor you have a point, but many shareholders were here because of GVAX and they have been shut out from following what they believed in. It is now in private hands. It would be interesting to see if Tang was able to get in on Aduro, since he came over as many did from the Cell Genesys merger.

SALE OF GVAX CANCER VACCINE ASSETS

On January 31, 2013, the Company entered into an asset purchase agreement with Aduro pursuant to which the Company sold all of its assets related to its GVAX cancer vaccine portfolio in exchange for a $1.0 million cash payment plus the potential for future royalty, milestone and sublicense payments. The royalty rate payable by Aduro to the Company on net sales of GVAX products is 2% of net sales for the longer of: (1) the remaining life on any applicable GVAX patent; or (2) the seventh anniversary of the first commercial sale of each GVAX product. A $2.0 million milestone payment will be payable by Aduro to the Company upon the achievement of $10.0 million in net sales of GVAX-pancreas products and a $2.0 million milestone payment will be payable by Aduro to the Company upon the achievement of $10.0 million in net sales of GVAX-prostate products, with a maximum amount payable of $50.0 million for each category of products. Additional launch and sales-based milestone payments will be payable by Aduro to the Company upon the achievement of certain specified net sales of other GVAX containing products, other than products to treat pancreas or prostate cancer. The maximum amount payable by Aduro to the Company under the agreement for royalties and milestone payments is $162.0 million. The Company also is entitled to receive 50 percent of all amounts received by Aduro from milestone and royalty payments from The John P. Hussman Foundation related to melanoma, net of related costs borne by Aduro.

[Just the facts maam]

It will be interesting to see what short interest remains. They will be disseminating the results after the close tomorrow.

Heavier volume was recorded from June 21 to 28. Short activity since the 28th has been almost non existent.

[macerimmer]

Couldn't agree more. Especially with #4.

[dbutler]

Against on everything
I would rather see us on the pink sheets the have another R/S.
My money is dead already

[catty]

Lothar: Agreed ... and even, be cautious

[Penny Roger$]

When was that announced? TIA for the warning.

[LOTHAR]

That may be true, but why buy before a reverse split?

[Penny Roger$]

~ $BPAX ~ Daily Par Sar Buy Signal ~ Criteria alert triggered during a recent trading session!

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c

[nutsyprofessor]

Agreed. I'm still waiting for the first, real combined financial statements.

[nutsyprofessor]

Yes but I believe Biosante still has rights to GVAX royalties and milestone based revenue, correct?

[Just the facts maam]

I was looking at the EBITDA to revenue projections ratio for ANI operations without a merger as outlined in the 424B3. According to their projections Przybyl had a long term ratio of approx. 38%. Akorn sits at 37.5% for the last year. Without the merger they projected to reach a 37% ratio by 2016.

If his projections were correct and Bio-T-Gel revenues start rolling in not to mention Libigel related revenue. An EBITDA to revenue ratio of 45% - 50% is very possible.

If this is the case, this may be a stock I will keep in portfolio well beyond the six month lock up.

[Just the facts maam]

A very interesting GVAX trial that appears to have been filed less then a month before GVAX was sold to Aduro.

GVAX vs. Placebo for MDS/AML After Allo HSCT

Many of us were not happy with the deal they made with Aduro for the GVAX portfolio, myself included. But having lost a niece to AML at the age of 14 years. I certainly hope this works for those in the GVAX arm and the results are significant enough to stop the trial and give them all a fighting chance.

[catty]

lurazh: I've always been for a name change - BPAX leaves a bad taste in my mouth.

[lurazh]

1. No
2. No
3. No
4. No

The management will still pull whatever they want. They knew that the min req for the new company would be $4 so they agreed to take the R/S and the name change off the table in the first voting round, so they could get enough votes for the merger, knowing that there would still be a R/S and a possible name change. So, in reality we've gained 0.

That's why I think that at this point this voting is a formality. It's a done deal in my opinion.

Sharing the pain @ $9.50

[RallyTheMarket]

You're nicer to them than I am hah.

Name change COULD help but I'm indifferent anymore.

Long @ $4.68

[Textbook_Hippie_Man]

1. Not in a million years. Are you nuts?
2. Yes. Biosante has been dragged through the mud enough. Might as well be Biojunk. I'll go with the new name.
3. Yes.
4. No way. If we don't pass it the first time, F off and respect our choice. Don't hold another meeting just because you didn't get the answer you wanted in the first meeting.

My opinion of course.

Long at $7.39 pps.

[catty]

Pete: I can't PM - and a Happy Birthday to you too. enjoy your vacation.

[catty]

TF: thankss.

[Just the facts maam]

Catty, they made no mention of the CVR and since they can't be traded, there is no value that I can see in doing an R/S on them. They are tied to the sale,etc... of Libigel and not the market. From what I can tell it would be an added cost with no benefit.

[RallyTheMarket]

1.) Against
2.) Against
3.) Against
4.) Against

I've averaged down and I'm still @ $4.68 average. I'll never see this money again. Another R/S - MUST think I'm CRAZY to throw more paper on this FIRE.