BioSante (BPAX -15.5%) plunged in late trading, and a PR issued after the bell provides the...

|By:, SA News Editor

BioSante (BPAX -15.5%) plunged in late trading, and a PR issued after the bell provides the likely reason. The company says its LibiGel drug failed to achieve its primary endpoints during Phase III trials. The company says it will continue to analyze trial data, so as to determine its next step.