TooNiceStocks Starts Coverage of BioSante Ahead of FDA Decision

In a recent report, TooNiceStocks initiated coverage of BioSante Phamrmaceuticals BPAX, the development stage biotech firm, noting some small-cap investors are already betting on the stock ahead of a February 14, 2012 PDUFA regulatory decision. Illinois-based BioSante develops products for female sexual health and oncology and one of its lead products inlcudes LibiGel (transdermal testosterone gel) for the treatment of female sexual dysfunction (FSD). In the note, TooNiceStocks lauds BioSante's deep pipeline. "TooNiceStocks has uncovered multiple catalysts and corporate developments happening with the company. Often, biotech companies in our opinion have “all their eggs in one basket” and a failure of a late-stage drug is often detrimental to the shareholder value and financials as the development costs of running an additional trial or developing a new product from the beginning are lengthy and expensive endeavors. "BioSante, on the other hand, has a fairly deep pipeline with one drug approved and another facing a regulatory decision in the form of a PDUFA on February 14th, 2012. TooNiceStocks also uncovered BioSante financials are also surprisingly strong for a development stage biotech company," according to the report. Bio-T-Gel, a testosterone gel for male hypogonadism, is the treatment that will be updated in the February PDUFA. Male hypogonadism is a condition where affected men don't produce enough testosterone, leading to fatigue and decreased sexual desire. The drug has been licensed to Israel-base Teva Pharmaceuticals TEVA, according to TooNiceStocks. TooNiceStocks in house biotech expert stated that, "With the remainder of their pipeline being so diverse, a current market capitalization at roughly $55 million, the February 14th, 2012 FDA or PDUFA decision date set, BioSante Pharmaceuticals is certainly down but not out. Additional due diligence is still recommended before ever investing in BioSante. Always remember, this is the market and anything can happen, particularly in the biotech sector."