Leading small-cap pharmaceutical company BioSante Pharmaceuticals (OTCBB: BPA) recently told Market News First about three new developments the company is looking at, and how they could affect the company’s future.BioSante’s CEO Stephen Simes discussed the news in a phone interview, particularly on the introduction of two new products in the BioSante product line: Eslestrin, a U.S. Food and Drug Administration (FDA) – approved estrodiol hormonal gel that Simes expects to be a competitive product in the $1.3 million marketplace; and LibiGel, a female sexual dysfunction gel.
Simes said that the LibiGel product is extremely important at this point because it’s entered the crucial third stage of development before reaching FDA approval – if it passes, it will make LibiGel the first product of its kind on the U.S. market.
“We believe we can be the first product approved in the U.S. for female sexual dysfunction,” Simes said.
In addition, Simes said the company has $18 million in cash “in the pipe” that will bring the company’s current cash balance to over $30 million.
“We’re in very good shape to implement our plans,” Simes added. “We want to create value [for our investors] by performing and delivering to our stockholders.”