Investors sure liked the Dec. 2 news that Bioanalytical Systems Inc. reworked its bank loans to have less debt and more time to pay it off. The share price of the West Lafayette-based company has soared by a whopping 44 percent since then.

Bioanalytical Systems, which makes laboratory equipment and performs analytical services for pharmaceutical companies, has showed increasing financial strength. Its cash flow from operations in the past six months has topped $2.5 million, up from $2 million in all of 2009 and less than $600,000 in all of 2008. In the second quarter of this year, the company recorded its first overall profit since 2007.

But looming over the company was a $1.3 million loan from Alabama-based Regions Bank, which was set to come due in February.

So Bioanalytical agreed to pay off $500,000 of that loan, as well as $500,000 on another $1.1 million loan due in 2018. In exchange, Regions rolled both of them into one new loan, which comes due in November 2012.

The new loan totals $1.4 million and bears a minimum interest rate of 4.5 percent.

Bioanalytical showed its greater confidence by hiring three more salespeople, who will serve the Southeast, Southwest and Northwest regions of the country.

"We are poised to make BASi the scientific connection companies need to bring new drugs to market,” said Alberto Hidalgo, the company’s vice president for business development and marketing.

Bioanalytical’s shares closed Dec. 2 at 90 cents apiece, but by the end of Tuesday they had jumped to $1.30 each. The stock’s value has risen 25 percent this year.