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UPDATE: Jefferies & Company Terminates Coverage on Biosante Pharmaceuticals

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In a report published Friday, Jefferies & Company terminated its coverage on Biosante Pharmaceuticals (NASDAQ: BPAX).

Jefferies noted, “Due to a reallocation of resources, we are dropping coverage of BioSante Pharmaceuticals (BPAX). Our last rating on BioSante was Hold with a $2 price target...Our $2 PT was based on a DCF taken out to 2026, discounted at 20%. Our most recent published risks included the potential for additional dilutive financings and pipeline setbacks.”

Biosante Pharmaceuticals closed on Friday at $1.30.

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