Navigation Links
Faruqi & Faruqi, LLP Announces Investigation of BioSante Pharmaceuticals, Inc.
Date:2/9/2012

NEW YORK, Feb. 9, 2012 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at BioSante Pharmaceuticals, Inc. ("BioSante" or the "Company") (Nasdaq: BPAX).   

(Logo: http://photos.prnewswire.com/prnh/20120119/MM38856LOGO )

The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that:  (1) BioSante's LibiGel product was ineffective and failed to deliver desired results; (2) the Company's LibiGel clinical demonstrations were faring poorly; and (3) LibiGel lacked any supposed multi-billion dollar market potential, similar to drugs Viagra, Levitra, and Cialis.

On February 12, 2010, the Company issued positive statements to investors about LibiGel's commercial viability, effectiveness, and market potential that caused shares of BioSante to trade at artificially high prices.  Specifically, officials at BioSante boasted that clinical data demonstrated that LibiGel had a "statistically significant" effect on female patients treated with the product, and that LibiGel was "the most clinically advanced pharmaceutical product in the U.S."  Additionally, BioSante and its Chief Executive Officer routinely analogized LibiGel's market potential to the $2 billion dollar market for male erectile drugs, often comparing LibiGel to products like "Viagra, Levitra, and Cialis."

On December 14, 2011, BioSante issued a press release disclosing for the first time that LibiGel failed to yield positive results in large-scale efficacy tests designed by the Company.  According to study results, women treated with LibiGel did not experience statistically significant increases in either total satisfying sexual encounters or sexual desire.  On this news, shares of BioSante declined by over 75% of their value.  After trading as high as $2.52 on December 13, 2011, shares of BioSante closed on December 19, 2011, at just $0.38 per share.

Request more information now by clicking here:  www.faruqilaw.com/BPAX

Take Action

If you purchased BioSante securities between February 12, 2010 and December 15, 2011 and would like to discuss your legal rights, visit www.faruqilaw.com/BPAX. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com or fmcconville@faruqilaw.com.  Faruqi & Faruqi, LLP also encourages anyone with information regarding BioSante's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorney Advertising.  The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com).  Prior results do not guarantee or predict a similar outcome with respect to any future matter.  We welcome the opportunity to discuss your particular case.  All communications will be treated in a confidential matter.

FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn:  Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Francis McConville, Esq.
fmcconville@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330


'/>"/>
SOURCE Faruqi & Faruqi, LLP
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Faruqi & Faruqi, LLP Announces Investigation of GenVec, Inc.
2. Frost & Sullivan: Western European Markets Confirm Undisputed Convenience and Cost Benefit of Custom Procedure Trays
3. Boston Scientific and Johnson & Johnson Announce Settlement of Patent Disputes
4. Tata Interactive Systems Partners With Bersin & Associates for Exclusive Executive Learning Forum - TLF 2009
5. Sigma-Aldrich (Nasdaq: SIAL) Announces Appointment of George Miller as Sr. Vice President, General Counsel & Secretary
6. Robbins & Myers Announces Regular Quarterly Cash Dividend
7. Delcath Systems, Inc. Appoints Dr. Krishna Kandarpa its Executive Vice President R&D and Chief Medical Officer
8. Frost & Sullivan Lauds Viatronix as European Medical Imaging Emerging Company of the Year
9. Bausch & Lomb Acquires the Commercial Assets of Italian Ophthalmic Pharmaceuticals Company Tubilux
10. Robbins & Myers Announces Fourth Quarter and Full Year 2009 Results
11. Dynatronics Appoints Douglas Sampson as Vice President of Production and Research & Development
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/20/2017)... PLANO, Texas , April 20, 2017  Vivify ... via mobile devices, has been awarded a very significant ... care via EMRs to continual care via digital health. ... of key intellectual property and further secures Vivify,s position ... Vivify, launched in 2009, was the first company to ...
(Date:4/20/2017)... 2017  CVS Pharmacy, the retail division of ... store design to enhance the retail customer experience ... products and expanded beauty selections paired with informational ... new offerings. Together with its innovative digital programs, ... customer experience at CVS Pharmacy.  ...
(Date:4/20/2017)... 20, 2017 NeuroVive Pharmaceutical AB (Nasdaq ... positive preclinical results demonstrating anti-fibrotic effects with ... steatohepatitis (NASH), in an additional well-validated experimental ... has previously shown similar anti-fibrotic effects in ... scientists present novel data demonstrating anti-fibrotic effects ...
Breaking Medicine Technology:
(Date:4/29/2017)... (PRWEB) , ... April 29, 2017 , ... TransDark is ... transition from one video to the next without having to set a single keyframe ... blasting transitions to enhance your video production. , TransDark features dynamic transitions that momentarily ...
(Date:4/29/2017)... Texas (PRWEB) , ... April 29, 2017 , ... ... to celebrate the profession and recognize the positive impact veterinarians have on animal ... (WVA) and the World Organization for Animal Health (OIE) choose a theme each ...
(Date:4/28/2017)... NY (PRWEB) , ... April 28, 2017 , ... It's ... there are a number of illnesses that are unclear as to whether or not ... their heads. Bronchitis is one of these illnesses. So, FindaTopDoc took a look into ...
(Date:4/28/2017)... ... 28, 2017 , ... Getting enough sleep affects much more than energy – it also has ... without sleep can compromise motor reaction time, which can increase the risk of having a ... the following tips from the NSF to help you sleep better and feel better:, ...
(Date:4/28/2017)... (PRWEB) , ... April 28, 2017 , ... The ... board members and officers for 2017-2018. The annual board election process has been in ... a volunteer basis. , Thomas C. Dickerson, Ed.D., FACHE, succeeds Jim Hamilton, MHA, CMM, ...
Breaking Medicine News(10 mins):