Oppenheimer Adjusts BPAX Estimates

Oppenheimer is making some adjustments to its estimates on BioSante Pharmaceuticals, Inc. BPAX “We note BPAX's cash balance of ~$51M, which we believe is sufficient to fund operations into 2012,” Oppenheimer writes. “We adjust our 2011 EPS estimate to ($0.69) from ($0.43) and our 2012 EPS estimate to ($0.33) from $0.29, which reflects our current estimate of a 2012 LibiGel launch.” BioSante closed Tuesday at $2.35.