Jeff, I see a couple of possibilities but the most likely is tied to Libigel.
So far Biosante shareholders have benefited from the merger to a greater extent then ANI shareholders have. The Biosante pipeline has yet to get original ANI shareholders anything but being listed and $18 million. ANI has now established themselves as a company with good future revenue potential from the ANI side of business Possibly worth in excess of %3 billion in 3 to 4 years. This makes the terms of the Merger easier to swallow for former Biosante shareholders. Now it is time to show the original ANI shareholders why they gave up 43 % of their company (there were cheaper ways to get listed)
July 2014 is the estimated primary completion of The Testosterone trial for Older Men. I suspect the results will be favorable and justify a similar trial for post-menopausal women. ANI already has the safety data, the Phase II efficacy data on Cognitive Function trial plus what ever efficacy they referred to in the safety trial.
The trial for women would most likely involve the following organizations:
National Institute on Aging (NIA)
National Institute of Neurological Disorders and Stroke (NINDS)
Eunice Kennedy Shriver National Institute of Child Health and Human Development (NICHD)
National Heart, Lung, and Blood Institute (NHLBI)
In addition to:
Abbvie(Possibly Teva)
Abbott (for diagnostic testing)
ANI (supply of Libigel)
If efficacy is buried in the safety trial, then the FDA will be looking for post marketing studies. If as Pryzbyl stated to me last August, ANI still intends to seek a partner to co-promote Libigel then the shelf registration may very well be tied to it.
I believe until this deal with ABBVIE is consummated we will see Majority ownership stay tied to insiders and passive institutions.
JMHO