BioSante Pharmaceuticals Reports First Quarter 2008 Financial Results.LINCOLNSHIRE, Ill. -- BioSante Pharmaceuticals, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BPAX) today reported its March 31, 2008 financial results and cash balance for the first quarter ended March 31, 2008. BioSante incurred a net loss of approximately $3.6 million or ($0.13) per share for the quarter ended March 31, 2008, compared to a net loss of $1.8 million or ($0.08) per share for the same period in 2007. This planned increase was due primarily to the conduct of the three ongoing LibiGel([R]) (testosterone gel) Phase III clinical studies to support submission of a new drug application (NDA (Non Disclosure Agreement) An agreement signed between two parties that have to disclose confidential information to each other in order to do business. In general, the NDA states why the information is being divulged and stipulates that it cannot be used for any ) and U.S. Food and Drug Administration (FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. ) approval. The LibiGel Phase III safety and efficacy studies are being conducted under an FDA approved SPA (special protocol assessment). The Company's cash, cash equivalents and short-term investments as of March 31, 2008 were approximately $27.6 million, as compared to approximately $30.7 million on December 31, 2007. About BioSante Pharmaceuticals, Inc. BioSante is a specialty pharmaceutical company focused on developing products for female sexual health, menopause, contraception and male hypogonadism. BioSante's lead products include LibiGel([R]) (transdermal testosterone gel) in Phase III clinical development by BioSante under a U.S. Food and Drug Administration (FDA) SPA (Special Protocol Assessment) for the treatment of female sexual dysfunction sexual dysfunction Inability to experience arousal or achieve sexual satisfaction under ordinary circumstances, as a result of psychological or physiological problems. (FSD FSD Female Sexual Dysfunction FSD File System Driver FSD Family Support Division FSD Fire Services Department (Hong Kong) FSD Full Scale Development FSD Full Scale Deflection FSD Federal Systems Division ), and Elestrin[TM] (estradiol gel) developed through FDA approval by BioSante, indicated for the treatment of moderate-to-severe vasomotor vasomotor /vaso·mo·tor/ (-mo´tor) 1. affecting the caliber of blood vessels. 2. a vasomotor agent or nerve. va·so·mo·tor adj. symptoms associated with menopause, currently marketed in the U.S. Also in development are Bio-T-Gel[TM], a testosterone gel for male hypogonadism, and an oral contraceptive oral contraceptive n. A pill, typically containing estrogen or progesterone, that prevents conception or pregnancy. Also called birth control pill. in Phase II clinical development using BioSante patented technology. The current market in the U.S. for estrogen and testosterone products is approximately $2.5 billion and for oral contraceptives approximately $3.0 billion. The company also is developing its calcium phosphate technology (CaP) for novel vaccines, drug delivery and aesthetic medicine (BioLook[TM]). Additional information is available online at: www.biosantepharma.com. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion