7. BioSante Pharmaceuticals (BPAX) is a specialty pharmaceutical company focused on developing products for female sexual health, menopause, contraception and male hypogonadism.
Total revenue for the 2011 first quarter decreased 98% to $57,000 from $2.3 million in the year-ago quarter, consequent to recognizing $2.2 million in royalty revenue during the quarter ended March 2010, and the receipt of nonrefundable upfront payments from Azur for eliminating future royalty payments. Cash and cash equivalents stood at $51.3 million, a sequential increase of 34.6%. Current ratio declined marginally to 4.15 from 4.96.
BioSante closed a registered direct offering in March 2011, bringing its cash balance to approximately $51.3 million. The company's management believes this cash balance will be sufficient to finance operations and LibiGel clinical development well into 2012, without the need for additional funds.Moreover, the company recently revealed that the FDA has lifted clinical hold on the GVAX Prostate Cancer Vaccine (GVAX Prostate). The manufacture of new GVAX Prostate is complete, and planning for a Phase II clinical trial at the Johns Hopkins Kimmel Cancer Center is under way. Of the five analysts covering the stock, 80% recommend a buy and the rest rate a hold. There are no sell ratings on the stock. On average, analysts estimate 111.5% upside to $5.50 in value from current levels.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV