BioSante Pharmaceuticals, Inc. (BPAX)

[Just the facts maam]

Simes said that institutional investors have bailed and presently there are approximately 30,000 retail investors who have the balance of power in the vote. Many of whom have not voted yet and this is probably what is causing them to actively seek votes. No doubt discussions about waiting for more info before voting has sunk in.

Simes indicated that most of the votes received have been in favor of the merger. What probably worries them is that those holding off may be more inclined to vote against the merger.