San Diego, CA -- (SBWIRE) -- 02/01/2012 -- The Shareholders Foundation announces that an investigation on behalf of investors in shares of BioSante Pharmaceuticals, Inc. (NASDAQ:BPAX) was initiated over potential securities laws violations by certain officers and directors at Bio Sante Pharmaceuticals in connection with the efficacy trial results for its LibiGel.
Investors who purchased shares of BioSante Pharmaceuticals, Inc. (NASDAQ:BPAX), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of BioSante Pharmaceuticals, Inc. (Public, NASDAQ:BPAX) concerning whether the company, certain of its officers and directors, or others have possibly violated federal securities laws. Specifically, the investigation concerns whether certain statements BioSante Pharmaceuticals’ business, its prospects and its operations were potentially materially false and misleading at the time they were made.
BioSante Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on developing products for female sexual health and oncology. Its products in human clinical development, include LibiGel, an experimental compound intended to boost women’s libido.
On December 14, 2011, BioSante Pharmaceuticals, Inc announced the results from LibiGel Efficacy Trials.
BioSante Pharmaceuticals, Inc. (NASDAQ: BPAX) said that the initial analysis of the data from these trials shows that the trials did not meet the co-primary or secondary endpoints. BioSante's president & CEO said that they are “very disappointed by the Phase III LibiGel efficacy trial results.”
Shares of BioSante Pharmaceuticals, Inc. (Public, NASDAQ:BPAX) fell from $2.50 on December 14, 2011, to $0.48 per share on December 15, 2011.
Those who purchased shares of BioSante Pharmaceuticals, Inc. (Public, NASDAQ:BPAX) and currently hold those NASDAQ BPAX shares, may have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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