BioSante Pharmaceuticals, Inc. (BPAX)

[justabroker_2000]

Short term I find Nothing that would

Drive BPAX over $1.00 within the next couple of months.
IMHO I think we're stuck in limbo where the stock will move between the mid .60's and mid .80's

The one thing that may drive the stock higher or lower is the reason behind why the company made the move to cut their Debt for shares, Thats a puzzle to me.

There may be a few reasons why

One is a possible buyout and the buyer wanted clean books.

They need more cash and the lender wants no debt on the books.

They may be cleaning their books to do a R/S, Say a 1/5 then do a secondary share offering to raise cash to develope the cancer drugs.

Why they choose to do a share for debt at this time when they just got positive news is very strange.
You would think they would have let the stock move higher, then do it, But no they choose the day after they get approval from the FDA.
Either they know something we dont, Or they just didnt care, Or they knew the price wouldnt hold up so they did the deed then, It was a puzzle to me and I let Mr. Simes know it.

It was Just IMHO a stupid play if there was nothing in the background that they knew.