BioSante Pharmaceuticals, Inc. (BPAX)

[Just the facts maam]

The attached link explains the Advanced Transdermal Delivery used in Elestrin. Once this is truly understood the market will expand, Jazz has elevated the profile of Elestrin to make it the lead Women's Health product in their portfolio. They obviously see the revenue potential of this product. True Biosante did give up some royalty revenue in exchange for cash, but they still have milestone payments. If Jazz continues on this path should create a revenue stream in the future.

Elestrin aside, it is my belief that the same Transdermal Advanced Delivery system enticed Teva into partnering for Bio-t-Gel. Over time, Teva will market Bio-t-Gel and they will gain a larger market share than most have projected.

The technology allows for lower doses to be used to gain the benefits. This lowers the cost of production which will allow for greater profits.


One must remember that Biosante still owns the global rights to both Elestrin and Bio-t-Gel. Long term the US market is small potatoes. Many have chastised Stephen Simes(Biosante CEO), but I see him as visionary. Global wealth is growing at a much faster rate then US. However,the US FDA approval process is the gold standard. He looks to getting products approved by the FDA. But eyes the global revenue stream as the greatest benefit to the company. This is why you see the geographical division of rights for each product.

Libigel

Libigel also uses a similar Transdermal Advanced Delivery system and will be Big revenue generator if it meets safety approval which we will find out by the end of May. Presently there is a greater than a 90% chance of exceeding the safety end points.

Even though Libigel failed to significantly surpass the placebo results, the efficacy trials have proven superior to Intrinsa, which is presently the global standard for treating HSDD outside the US. Even without subset data proving superior efficacy or another efficacy trial which only includes the targeted HSDD patients, Libigel an compete with Intrinsa outside the US and be very profitable

The efficacy trials proved excellent testosterone replenishment to pre-menopausal levels. This is a medical treatment in itself and goes beyond HSDD. Very profitable marketing opportunity

The safety trials proved the added benefit of reduction of Cardiovascular Events by 70%. Very profitable marketing opportunity

The Pill Plus

Pantarhei Bioscience is conducting the clinical trials on pill form. Biosante realizing that Advanced Transdermal Delivery is actually a superior method of delivering drugs kept the non pill form of delivery.


Finally the Cancer portfolio

Biosante has developed strategic partnerships to move the portfolio forward. By partnering with the Hussman Foundation though the John Hopkins University. They have been able to diversify and advance their portfolio of cancer treatments and a much quicker rate then if they went it alone. Their agreement is for approximately 30% of royalties John Hopkins receives. Assuming the University would pick up a 30% royalty for a cancer treatment that is a 9% royalty at of all cancer treatment sales moving forward on all successful partnerships that John Hopkins forges.This equals an unknown potential revenue stream but the potential is huge Best of all Biosante's costs going forward are minimal. They are now just waiting for a return on this investment. In the meantime Biosante is also moving forward on other cancer research outside of the licencing agreement.


Objective investors will agree that Biosante is grossly undervalued. I leave it to you to determine how undervalued the stock truly is.