SHAREHOLDER'S EQUITY

12 Months Ended

Dec. 31, 2013

Stockholders Equity Note [Abstract]

Stockholders Equity Note Disclosure

10. SHAREHOLDER’S EQUITY

Authorized shares

The Company is authorized to issue up to 33.3 million shares of common stock with a par value of $0.0001 per share, 0.8 million shares of class C special stock with a par value of $0.0001 per share, and 1.7 million shares of undesignated preferred stock with a par value of $0.0001 per share at December 31, 2013.

There were 9.6 million and 4.1 million shares of common stock issued and outstanding as of December 31, 2013 and 2012, respectively.

There were  11 thousand shares of class C special stock issued and outstanding as of both December 31, 2013 and 2012. Each share of class C special stock entitles its holder to one vote per share. Each share of class C special stock is exchangeable, at the option of the holder, for one share of the Company's common stock, at an exchange price of $90.00 per share, subject to adjustment upon certain capitalization events. Holders of class C special stock are not entitled to receive dividends or to participate in the distribution of the Company's assets upon any liquidation, dissolution or winding-up of the Company. The holders of class C special stock have no cumulative voting, preemptive, subscription, redemption or sinking fund rights.

There were no shares of undesignated preferred stock outstanding as of December 31, 2013 or 2012.

Equity Offerings

        In the years leading up to the Merger, BioSante completed several equity offerings. While BioSante’s capital structure remains in place, ANIP’s historical results of operations replace BioSante’s (Note 2). All historical information is provided using share and per shares amounts adjusted for the July 17, 2013 one-for-six reverse split.

In August 2012, the Company completed a registered direct offering of 393 thousand shares of its common stock and warrants to purchase an aggregate of 197 thousand shares of its common stock at a purchase price of $8.835 per share to one institutional investor for gross proceeds of $3.5 million. The offering resulted in net proceeds to the Company of $3.3 million after deducting placement agent fees and offering expenses. The warrants were exercisable immediately and continue for a period of five years, at an exercise price of $9.00 per share. The number of shares issuable upon exercise of the warrants and the exercise price of the warrants are adjustable in the event of stock splits, combinations and reclassifications, but not in the event of the issuance of additional securities.

Warrants issued prior to the Merger

Warrants to purchase an aggregate of 686 thousand shares (as adjusted for the July 17, 2013 one-for-six reverse split) of the Company's common stock were outstanding and exercisable as of December 31, 2013:

(in thousands, except per share price)

	Number of
	Underlying Shares		Per Share
Issue Date	Of Common Stock		Exercise Price		Expiration Date
August 13, 2009		67	$	90.00		August 12, 2014
August 13, 2009		7	$	90.00		June 9, 2014
March 8, 2010		145	$	74.88		September 8, 2015
March 8, 2010		6	$	77.76		June 9, 2014
June 23, 2010		99	$	88.20		June 23, 2015
June 23, 2010		6	$	94.68		June 9, 2015
December 30, 2010		147	$	72.00		December 30, 2015
December 30, 2010		9	$	76.50		June 9, 2015
March 8, 2011		112	$	81.00		March 8, 2014
March 8, 2011		7	$	92.88		June 9, 2014
August 20, 2012		83	$	9.00		August 16, 2017

 During 2013, the Company issued no warrants. In December 2013, warrants to purchase an aggregate of 90 thousand shares of common stock were exercised. During 2013, warrants to purchase an aggregate of 13 thousand shares of common stock expired unexercised. All warrants are classified as equity.

During 2012, the Company issued warrants to purchase an aggregate of 197 thousand shares of the Company's common stock in connection with the August 2012 registered direct offering as described above. During 2012, warrants to purchase an aggregate of 23 thousand shares of common stock were exercised and warrants to purchase an aggregate of 16 thousand shares of the Company's common stock expired unexercised.