Penny Stock BioSante Pharmaceuticals Inc. (BPAX) gains in Pre-Market Trading Today
Shares of BioSante Pharmaceuticals Inc. (NASDAQ: BPAX), a specialty pharmaceutical company engaged in the development of products for female sexual health and oncology, are gaining in pre-market trading today.
At last check, BioSante shares were trading 1.74% higher at $0.800.
BioSante last week entered into a privately negotiated securities exchange agreement with a holder of the company’s 3.125% convertible senior notes due May 1, 2013.
Phillip Donenberg, senior vice president of Finance and CFO at BioSante, said that the transaction further extends the company’s cash runway and is important as the company reported FDA approval of Bio-T-Gel™, continues to analyze the best path forward for LibiGel®, to investigate alternative strategies and to explore new product development projects through in-licensing and mergers and acquisitions.
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Posted by Adam Garcia
on Tuesday, February 21st, 2012. Filed under Internet, Technology.
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