UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

 

 

FORM 8-K

 

Current Report

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

 

Date of Report (Date of earliest event reported):

November 12, 2010

 

BIOSANTE PHARMACEUTICALS, INC.

(Exact name of registrant as specified in its charter)

 

 

 

(847) 478-0500

(Registrant’s Telephone Number, Including Area Code)

 

N/A

(Former Name or Former Address, If Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Section 2 — Financial Information

 

Item 2.02. Results of Operations and Financial Condition.

 

On November 12, 2010, BioSante Pharmaceuticals, Inc. publicly announced its financial results for the third quarter ended September 30, 2010.  For further information, please refer to the news release attached hereto as Exhibit 99.1, which is incorporated by reference herein.

 

The information contained in this Item 2.02 and Exhibit 99.1 hereto shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any filings made by BioSante Pharmaceuticals, Inc. under the Securities Act of 1933, as amended, or the Exchange Act, except as may be expressly set forth by specific reference in such filing.

 

Section 9 — Financial Statements and Exhibits

 

Item 9.01. Financial Statements and Exhibits.

 

(d)   Exhibits.

 

Exhibit No.		Description
99.1		News Release issued November 12, 2010

 

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SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	BIOSANTE PHARMACEUTICALS, INC.
	By:	/s/ Phillip B. Donenberg
		Phillip B. Donenberg
		Senior Vice President of Finance, Chief Financial Officer and Secretary
Dated:  November 12, 2010

 

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BIOSANTE PHARMACEUTICALS, INC.

 

FORM 8-K

Exhibit Index

 

Exhibit No.		Description		Method of Filing
99.1		News Release issued November 12, 2010		Furnished herewith

 

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Exhibit 99.1

 

		BioSante Pharmaceuticals, Inc. 111 Barclay Boulevard Lincolnshire, Illinois 60069 www.biosantepharma.com
FOR IMMEDIATE RELEASE		NASDAQ: BPAX

 

BioSante Pharmaceuticals Reports Third Quarter 2010 Financial Results

 

LibiGel® receives maximum Therapeutic Discovery Program grant

 

LINCOLNSHIRE, Illinois - - (November 12, 2010)-BioSante Pharmaceuticals, Inc. (NASDAQ: BPAX) today announced its third quarter 2010 financial results.

 

BioSante incurred a net loss of approximately $11.6 million or ($0.16) per share for the quarter ended September 30, 2010, compared to a net loss of $6.4 million or ($0.21) per share for the same period in 2009.  This increase in net loss was primarily due to increased LibiGel clinical development expenses.

 

The Company’s cash and cash equivalents as of September 30, 2010 were approximately $35.5 million, as compared to cash and cash equivalents of approximately $29.9 million on December 31, 2009.  In October 2010, the Company received $244,479, the maximum per project, after LibiGel® qualified for a grant under the Qualifying Therapeutic Discovery Project Program which was created in March 2010 as part of the Patient Protection and Affordability Care Act.

 

About BioSante Pharmaceuticals, Inc.

BioSante is a specialty pharmaceutical company focused on developing products for female sexual health and oncology.  BioSante’s lead products include LibiGel® (transdermal testosterone gel) for the treatment of female sexual dysfunction (FSD) which is in Phase III clinical development under a U.S. Food and Drug Administration (FDA) Special Protocol Assessment.  BioSante also is developing a portfolio of cancer vaccines (GVAX), three of which have been granted orphan drug designation, and are currently in several Phase II clinical trials.  Other products in development are Bio-T-Gel™, a testosterone gel for male hypogonadism licensed to Teva Pharmaceuticals and an oral contraceptive in Phase II clinical development using BioSante patented technology.  The company also is developing its calcium phosphate technology (CaP) for aesthetic medicine (BioLook™), among other uses, as well as seeking opportunities for its 2A/Furin and other technologies.  Additional information is available online at: www.biosantepharma.com.

 

For more information, please contact:
For Investors:		For Media:
The Trout Group LLC		McKinney/Chicago
Tricia Swanson		Alan Zachary
(646) 378-2953 tswanson@troutgroup.com		(312) 944-6784 ext. 316; azachary@mckinneychicago.com