BioSante Is One of Few Upside Stories (BPAX)

Posted in General, pre-market 
August 17th, 2009

BioSante Pharmaceuticals, Inc. (NASDAQ: BPAX) is up big this morning on a presentation of H1N1 vaccine results at the Immunotherapeutics & Vaccine Summit in Providence, RI. Its BioVant increased the protective effect of vaccines for multiple flu strains, including a potential new vaccine against H1N1 or swine flu.  The company noted that it resulted in 100% protection from symptoms of illness, including weight loss, and death in animal studies.  Be advised that this is on the heels of a direct stock offering last week.  This is one of the few big winners today and shares are up 25% at $2.44.  We have alreadt seen 575,000 shares trade as of 9:00 AM EST and the average volume is only about 175,000 shares per day.  Also, the market cap is only about $66 million after this move, but that may not include the effects of the recent offering. -JON OGG

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