SEC Filings
In 2013, BioSante Pharmaceuticals merged with our subsidiary ANI Pharmaceuticals and provided the report to the US Securities and Exchange Commission. Below, you will find the basic terms of the transaction mentioned and the key points from the corresponding presentation filed to the SEC intended for potential investors.
The main aspects of the operation of Biosante Pharmaceuticals:
- researching and developing diversified products for medical purposes;
- licensing products from the portfolio;
- providing contract manufacturing services for other pharma companies;
- producing own brand and generic medicines;
- safe packaging;
- distributing meds created by our company and other reputable brands via our online outlet.
The products our team is currently working on:
- LibiGel (Phase III) ― a topical transdermal gel with testosterone for overcoming hot flashes and sexual dysfunction in menopausal and postmenopausal women;
- Pill-Plus (Phase II) ― oral contraceptive pills for women (this item is licensed to Pantarhei Bioscience);
- GVAX Vaccine ― immunotherapy intended for preventing melanoma, leukemia, prostate tumors, and other types of cancer.
The products that are already presented to the market:
- Bio-T-Gel (marketed by Teva) ― a topical testosterone gel for treating male hypogonadism;
- Elestrin (marketed by Jazz Pharmaceuticals) ― a topical estradiol gel for eliminating hot flashes in female patients in menopausal and postmenopausal periods.
The terms of the merger agreement between Biosante and ANI:
- Biosante reserved 47% of stocks and ANI got 53%.
- Existing Biosante stakeholders reserved the contingent value right to 66% of the overall income from the distribution of LibiGel (the maximum limit is $40 million).
- The new company is controlled by the management from ANI.
- Namely, the board includes 2 managers from Biosante and 4 managers and 1 SEO from ANI.
The basic information about finances and stocks:
- Exchange ― NASDAQ:BPAX
- Outstanding shares:
- Common stock ― 24.3;
- Warrants ― 4.9;
- Options ― 1.2.
- Cash ― $42.4
- Convertible notes ― $8.3
- Forecast about average monthly cash burn rate ― $2.5
The future perspectives:
Happy family pharmacy by Biosante plans to continue developing all aspects of our work: researching, reviewing, improving, producing, and marketing our own brand and generic therapies, as well as distributing brand-name and generic meds from our partners.
Namely, in the nearest future, we will:
- complete Phase III trials for LibiGel and move to the next stage ― approval by authorities and introduction to the market;
- continue accelerating and evaluating the safety and efficacy of our GVAX cancer vaccines within the corresponding clinical studies;
- finish and report the results of Phase II trials for Pill-Plus and advance this product to the next development stage;
- enter valuable research and development projects by other manufacturers intended to solve urgent problems related to therapies;
- continue working on our online store in order to keep it user-friendly and up-to-date and enhance its positions in the online search results;
- extend it with new functions needed by our customers;
- launch mobile shopping software in order to ensure hassle-free and easy access to our assortment from any corner of the globe 24/7.