Day traders looking for quick returns will definitely be watching BPAX Thursday. BioSante Pharmaceuticals Inc. (NASDAQ:BPAX) is a specialty pharmaceutical company developing products for female sexual health and oncology.
In premarket trade, shares of BPAX has fell more than -75% after the company said its treatment for female sexual dysfunction failed to meet targets in clinical trials.
This is a historical low for BPAX at $.50 with the previous low being $.81 back around 2009 and within a month it was up to $2.33.
I’ll probably look to buy a dip after the market opens and see if I can time the bounce properly.