BioSante Pharmaceuticals, Inc. (BPAX)

[Just the facts maam]

Then again they could also be purposely undervaluing their sales and projections. The following estimated their revenue in the $37.1 million range for 2011. I actually think Dun and Bradstreet put more effort into estimating the sales, getting info from multiple sources, than Oppenhiemer did in the valuations. If this is accurate then where do they really sit in the next couple of years.

Check out

http://companies.findthecompany.com/l/12100963/Anip-Acquisition-Company-in-Baudette-MN

http://www.hoovers.com/company-information/cs/sales-preparation.ANIP_ACQUISITION_COMPANY.ca401e168e853617.html

Since Przybyl was formerly the CEO of Akorn. If his growth strategy is consistent with Akorn and the revenue to market cap ratio remains remotely similar, by 2017 ANI alone should be looking at a Market cap in the ball park of $774 million. If Dunn & Bradstreet's estimates were correct and the 25% growth ANI reported was actually accurate the ANI's alone could have a market cap alone could be $967 million by the end of 2017.

The problem is the non validated valuations distort everything.