BioSante Pharmaceuticals, Inc. Reports on Recent Events and Third Quarter Financial Results.Business Editors/Health/Medical Writers BIOWIRE2K LINCOLNSHIRE, Ill.--(BUSINESS WIRE)--Nov. 11, 2003 BioSante Pharmaceuticals, Inc. (Amex:BPA BPA British Paediatric Association. ) today reported on recent corporate events and financial results for the three-month and nine-month periods ended September 30, 2003. Recent Corporate Events Recent highlights and important achievements include: -- Moved to the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. , effective October 1, 2003 -- Closed on a $10.3 million private placement in August 2003 -- Reported positive results of long acting injectable in·ject·a·ble adj. Capable of being injected. Used of a drug. n. A drug or medicine that can be injected. insulin -- Received an NIH/SBIR grant for oral insulin development -- Initiated the one FDA-required pivotal Phase III Noun 1. phase III - a large clinical trial of a treatment or drug that in phase I and phase II has been shown to be efficacious with tolerable side effects; after successful conclusion of these clinical trials it will receive formal approval from the FDA trial of Bio-E-Gel(TM) (bio-identical estradiol estradiol /es·tra·di·ol/ (es?trah-di´ol) (es-tra´de-ol) the most potent estrogen in humans; pharmacologically, it is often used in the form of its esters (e.g., e. cypionate, e. gel) in menopausal symptoms after reporting positive Phase II/III results -- Reported positive interim results of the Phase II trial of LibiGel(TM) (bio-identical testosterone testosterone (tĕstŏs`tərōn), principal androgen, or male sex hormone. One of the group of compounds known as anabolic steroids, testosterone is secreted by the testes (see testis) but is also synthesized in small quantities in the gel) in female sexual dysfunction Financial Results The company reported a net loss of approximately $1.4 million or ($0.12) per share for the quarter ended September 30, 2003, compared to a net loss of $0.8 million or ($0.11) for the same period in 2002. For the nine month period ended September 30, the company reported a net loss of $4.3 million or ($0.43) per share compared to a net loss of $3.4 million or ($0.49) per share for the same period the prior year. The company's cash balance as of September 30, 2003 was approximately $10.4 million, compared to $4.9 million on December 31, 2002. About BioSante Pharmaceuticals, Inc. BioSante is an emerging pharmaceutical company developing a pipeline of hormone therapy Hormone therapy Treating cancers by changing the hormone balance of the body, instead of by using cell-killing drugs. Mentioned in: Breast Cancer, Thyroid Cancer hormone therapy products to treat both men and women. BioSante also is developing its nanoparticulate-based platform technology (CAP) for novel vaccines, vaccine adjuvants and drug delivery systems. Additional information is available online at www.biosantepharma.com. |
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