BioSante Pharmaceuticals Prices Public Offering of 16M Shares Common Stock at $3.00/Share

BioSante Pharmaceuticals, Inc. BPAX today announced the pricing of its previously announced underwritten public offering of 16.0 million shares of its common stock, offered at a price of $3.00 per share to the public. The net proceeds to BioSante from this offering are expected to be approximately $45.0 million, after deducting underwriting discounts and commissions, and other estimated offering expenses payable by BioSante. All of the shares in the offering are to be sold by BioSante. The offering is expected to close on or about August 2, 2011, subject to the satisfaction of customary closing conditions. BioSante has granted the underwriters a 30-day option to purchase up to an aggregate of 2.4 million additional shares of common stock to cover over-allotments, if any. Jefferies & Company, Inc. is acting as the sole book-running manager for the offering. Rodman & Renshaw, LLC, JMP Securities LLC and Roth Capital Partners, LLC are acting as co-managers for the offering.