Company

Bank

Analyst

Coverage

Opinion

Wk chg

12/16 cls

BioSante Pharmaceuticals Inc. (NASDAQ:BPAX)

Jefferies

Graig Suvannavejh

Downgrade

Hold (from buy)

-82%

$0.45

Leerink

Joseph Schwartz

Downgrade

Market perform (from market outperform)

McNicoll, Lewis & Vlak

Christopher James

Downgrade

Hold (from buy)

Rodman

Elemer Piros

Downgrade

Market perform (from market outperform)

Suvannavejh also lowered his target to $0.70 from $5 after top-line data showed that LibiGel transdermal testosterone gel missed the co-primary endpoints vs. placebo in the Phase III BLOOM-1 and BLOOM-2 trials to treat hypoactive sexual desire disorder in menopausal women (see B20). Suvannavejh said that "given the magnitude of the miss, the LibiGel story seems to be done." BioSante has rights to LibiGel from Antares Pharma Inc. (NYSE-A:AIS) in North America, Australia, China and certain other countries.

Schwartz also lowered his target to $0.11 from $6 on the LibiGel data.