BioSante Pharmaceuticals, Inc. (BPAX)

[Mo-John]

I have not seen or read the Roth report, I don't know what level of work and more importantly what assumptions they made in valuing the company. I don't even know if Roth has a buy rating on BPAX. However, I can tell you target price in the world of developing biotech companies is meaningless; whether the target price is .75 or 7.50. At the end, it's all about drug performance and approval. At this stage in the game finance guys are really a waste of time; it's the scientist, biotech experts, and FDA consultants that hold the keys on assessing success.

What would be interesting is getting our hands on the report, that would shed light on their thinking and assumptions.