BioSante, like any small developmental bio company, presents both greater risks and greater potential rewards than is typical. (Look at the chart for stock DNDN for a recent example of rewards or this ilk) If you continue to believe in the BioSante's future, continue to hold the stock.
I would hold for now unless you're really hurting and need the money right away. However, your small gain now could mean losing out on a much bigger gain IF (that's a BIG IF) BPAX gets FDA approval of Libigel, and other products in the pipeline pan out.
Conversely, the stock could just as easily tank without FDA approval and go to zero. If you're going to invest in biotech you need to be able to tolerate risk as it's the ultomate high risk, high reward play.