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:6/23/2016)... -- Bracket , a leading clinical trial technology and ... platform, Bracket eCOA (SM) 6.0, at the 52 nd ... 2016 in Philadelphia , Pennsylvania.  A demonstration ... of its kind to fully integrate with RTSM, will be ... is a flexible platform for electronic clinical outcomes assessments that ...
(Date:6/23/2016)... Revolutionary technology includes multi-speaker listening to conquer ... in advanced audiology and hearing aid technology, has today ... world,s first internet connected hearing aid that opens up ...      (Photo: http://photos.prnewswire.com/prnh/20160622/382240 ) , ... , TwinLink™ - the first dual communication ...
(Date:6/23/2016)... , June 23, 2016  Experian Health, ... and transforming the patient payment and care ... innovative new products and services that will ... revenue cycle offerings. These award-winning solutions will ... workflows, remain compliant in an ever-changing environment ...
Breaking Medicine Technology:
(Date:6/26/2016)... N.J. (PRWEB) , ... June 27, 2016 , ... Quality ... sources, yet in many ways they remain in the eye of the beholder, according ... (EBO), a publication of The American Journal of Managed Care. For the full issue, ...
(Date:6/26/2016)... ... June 26, 2016 , ... Many women ... diagnosed with endometriosis. These women need a treatment plan to not only alleviate ... that can help for preservation of fertility and ultimately achieving a pregnancy. The ...
(Date:6/25/2016)... ... June 25, 2016 , ... First Choice Emergency Room , the largest ... as the Medical Director of its new Mesquite-Samuell Farm facility. , “We are ... Mesquite location,” said Dr. James M. Muzzarelli, Executive Medical Director of First Choice Emergency ...
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... A recent ... that most people are unfamiliar with. The article goes on to state that individuals ... also many of these less common operations such as calf and cheek reduction. The ...
(Date:6/24/2016)... ... June 24, 2016 , ... Global law firm Greenberg Traurig, P.A. ... The attorneys chosen by their peers for this recognition are considered among the top ... Shareholders received special honors as members of this year’s Legal Elite Hall of Fame: ...
Breaking Medicine News(10 mins):