BioSante Pharmaceuticals (BPAX) is a specialty pharmaceutical company. In November it reported a narrower third-quarter loss. It has a strong cash position, up 18.7% to $35.5 million.
During June, the pharma company announced the sale of an aggregate $15 million securities in a registered direct offering. Net proceeds of almost $14.2 million will be primarily used to fund BioSante's LibiGel Phase III clinical study program and for general corporate purposes.
Of the four analysts covering the stock, three recommend buying it, while one recommends holding BioSante. Currently, the stock is trading at $1.48. The target price is $4, indicating an upside of 170%.
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