BioSante Pharmaceuticals, Inc. (BPAX)

[Mo-John]

There are many factors why the stock price is where it is. IMO, us long are the contrarians (eg. I happened to be a contrarian), the market has completely discounted the cash on hand to zero. The 2 dollar SP represents the pipeline value of BPAX. So why is the cash discounted to zero? IMO, the market believes Libigel is a "loser" and BPAX will burn through its all cash with no return. So that my friends is the 25 dollar per share question. What does the market know that management or shareholders doesn't know or vice vs. Understanding why folks believe Libigel will fail is just as important as understanding why it will succeed. Investors/shareholders that understand both sides are rarely surprised at outcomes. I think it is important for us longs to completely understand why we are contrarians - putting the SP blame on Market Manipulation, lazy market analyst, shorts etc.. - small part of the answer.