UPDATE 1-BioSante says lead drug safe in late-stage study

* Female sexual dysfunction drug safe in late-stage study

* Expects to submit NDA to FDA by mid-2011 * Shares soar 69 pct in pre-mkt trade Aug 13 (Reuters) - BioSante Pharmaceuticals Inc (BPAX.O) said its lead candidate LibiGel to treat female sexual dysfunction was safe in the late-stage cardiovascular and breast cancer safety study, sending its shares up 69 percent in pre-market trading.

The specialty pharmaceutical company said in the study, which had more than 1,250 women exposed to its experimental drug, there was only five cardiovascular events and no death.

BioSante said it expects to file a new drug application to the U.S. Food and Drug Administration by mid-2011.

Shares of the company were up 72 cents at $2.50 Thursday in trading before the bell. They touched a high of $3 earlier.

They had closed at $1.78 Wednesday on Nasdaq. (Reporting by Anuradha Ramanathan in Bangalore; Editing by Gopakumar Warrier)