BioSante Trial Safety Surge (BPAX)

Posted in pre-market 
October 20th, 2009

BioSante Pharmaceuticals, Inc. (NASDAQ: BPAX) is one of this mornings top gainers after it reported positive safety data in its ongoing LibiGel Phase III clinical development program.  The unblinded data have been reviewed by the independent DMC of the LibiGel Cardiovascular and Breast Cancer Safety Study and the DMC unanimously recommended continuation of the study as described in the study protocol without any modifications. At 8:46 AM EST we have seen 205,000 shares trade hands versus a 515,000 share average volume.  The stock is up 12% at $2.21 and the 52-week trading range is $0.81 to $3.48.  The market cap here on this one before the bounce was a mere $65.8 million, so keep the size of the company in mind as trading volume can still be very low oin some non-news days. -JON OGG

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