Shareholder Rights Law Firm Johnson & Weaver, LLP announces it is investigating whether certain officers and directors of Biosante Pharmaceuticals, Inc. (Nasdaq: BPAX) breached their fiduciary duties and committed violations of United States securities laws.

Biosante is a specialty pharmaceutical company that focuses on developing products for female sexual health and oncology. One of Biosante’s products is an experimental drug called LibiGel, which is designed to improve the female sex drive.

Johnson & Weaver, LLP’s investigation focuses on whether certain officers and directors of Biosante issued improper financial statements that mislead investors about LibiGel’s effectiveness over placebo. Biosante’s stock price plummeted on December 11, 2011, when the company was forced to reveal that women who took LibiGel in clinical trials did not experience a statistically significant increase in either total satisfying encounters or sexual desire. On this news, Biosante’s stock price dropped from $2.12 to $0.48 per share, or 77.3%, instantly wiping out hundreds of millions of dollars of stockholders’ equity in a single day.

Johnson & Weaver, LLP invites Biosante shareholders who are concerned about their legal rights and remedies to contact attorney Brett Weaver at (619) 230-0063 or brettw@johnsonandweaver.com.

Johnson & Weaver, LLP is a nationally recognized shareholders’ rights law firm. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com.