STOCK-BASED COMPENSATION

6 Months Ended

Jun. 30, 2012

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION

6.STOCK-BASED COMPENSATION

At the annual meeting of the Company’s stockholders held on May 30, 2012, the Company’s stockholders approved a third amended and restated BioSante Pharmaceuticals, Inc. 2008 Stock Incentive Plan (the 2008 Plan), which, among other things, increased the number of shares of the Company’s common stock authorized for issuance under the plan from 1.0 million to approximately 1.8 million plus the number of shares subject to stock options outstanding under the BioSante Pharmaceuticals, Inc. Amended and Restated 1998 Stock Plan as of May 30, 2012 but only to the extent that such outstanding awards are forfeited, expire or otherwise terminate without the issuance of such shares.  As of June 30, 2012, approximately 945,391shares of the Company’s common stock remain available for issuance under the 2008 Plan.

During the six months ended June 30, 2012, the Company granted options under the 2008 Plan to purchase an aggregate of 354,782 shares of the Company’s common stock to certain employees of the Company and the Company’s non-employee directors with a weighted average exercise price of $4.10 per share.  Options to purchase an aggregate of 86,994 shares of the Company’s common stock expired and were cancelled during the six months ended June 30, 2012.  Options are granted at an exercise price equal to the closing price of the Company’s common stock on the date of the grant.  No options were exercised during the six months ended June 30, 2012.

During the six months ended June 30, 2012, no warrants were granted or exercised and warrants to purchase an aggregate of 65,872 shares of the Company’s common stock at an exercise price of $235.62 per share expired on April 11, 2012.