I. COMMENCED TRADING IN APRIL

Company (Symbol)^#

Date Filed

Date Comm.

Shares/Units (M)

Price

Shares Out (M)^%

Lead, Other Underwriters

Gross (M)

Post-Offering Market Cap (M)^@

INITIAL OFFERINGS

DOV Pharmaceutical Inc. (DOVP)¹

1/28/02

4/25/02

5S

$13

15

Lehman Brothers (co-lead)
CIBC World Markets (co-lead)
Lazard Freres
Fidelity Capital Markets

$65

$195

Ribapharm Inc. (NYSE:RNA)²

6/15/00

4/12/02

26S

$10

150

UBS Warburg
CIBC World Markets
SG Cowen

$260

$1,500

Total: $325M

Number of IPOs in April: 2

Average value of April IPOs: $162.5M

Number of IPOs in 2002: 3

Total raised in IPOs in 2002: $453.8M*

Average value of IPOs in 2002: $151.3M*

* Figures include an overallotment option exercised in January as part of a 2001 IPO.

Notes:

^@ Market capitalization calculated is based on the offering price.

^% This column reflects the shares outstanding following the offering, when disclosed.

^# Unless otherwise indicated, shares are traded on the Nasdaq exchange; NYSE = New York Stock Exchange.

¹ DOV raised $65M in its IPO. The underwriters have an overallotment option for 750,000 additional shares.

² Ribapharm raised $260M in its IPO. The underwriters have an overallotment option for an additional 3.9M shares.

FOLLOW-ON OFFERINGS

Company (Symbol)

Date Filed

Date Comm.

Shares/Units (M)

Price

Shares Out (M)

Lead, Other Underwriters 

Gross (M)

Post-Offering Market Cap (M)

There were no follow-on offerings that occurred in April.

Total: $0M

Number of follow-on offerings in April: 0

Average value of April follow-ons: $0M

Number of follow-on offerings in 2002: 10

Total raised in follow-ons in 2002: $449.03M

Average value of follow-ons in 2002: $44.9M

II. FILED AND PENDING

Company (Symbol/Proposed Symbol)^#*

Date Filed

Shares/Units (M)

Price Range

Shares Out (M)^%

Lead, Other Underwriters

Value (M)

INITIAL OFFERINGS

Aderis Pharmaceuticals Inc. (ADPX)¹

1/11/02

5.5S

$12-14

N/A

UBS Warburg (co-lead)
CIBC World Markets (co-lead)
RBC Capital Markets

$71.5

Ark Therapeutics Group plc (UK)²

4/10/02

N/A

N/A

N/A

WestLB Panmure Ltd.
Nomura International

£40
(US$57)

Corcept Therapeutics Inc. (CORT)³

12/21/01

4S

$14-16

23.9

U.S. Bancorp Piper Jaffray (co-lead)
CIBC World Markets (co-lead)
Thomas Weisel Partners

$60

DiaDexus Inc. (DDXS)⁴

11/20/00

7S

$12-14

31.1

Lehman Brothers
CIBC World Markets
Robertson Stephens
Fidelity Capital Markets

$91

Innovative Drug Delivery Systems Inc. (IDDS)⁵

1/2/02

5.6S

$8-10

20.65

Thomas Weisel Partners
Wells Fargo Securities
Jefferies & Co.

$50.4

MitoKor Inc. (MITO)⁶

3/8/02

N/A

N/A

N/A

RBC Capital Markets
Lazard Freres
Legg Mason Wood Walker
Gerard Klauer Mattison

$60

Novirio Pharmaceuticals Ltd. (IDIX)⁷

4/12/02

N/A

N/A

N/A

Goldman Sachs (co-lead)
Banc of America Securities (co-lead)
JP Morgan Securities
U.S. Bancorp Piper Jaffray

$115

Protarga Inc. (PRTG)⁸

12/12/01

N/A

N/A

N/A

UBS Warburg (co-lead)
U.S. Bancorp Piper Jaffray (co-lead)

$75

ViaCell Inc. (VIAC)⁹

1/30/02

N/A

N/A

N/A

UBS Warburg
Banc of America Securities
U.S. Bancorp Piper Jaffray

$115

YM BioSciences Inc. (Canada)¹⁰

4/24/02

N/A

N/A

N/A

N/A

C$40
(US$25.4)

FOLLOW-ON OFFERINGS

Ariad Pharmaceuticals Inc. (ARIA)¹¹

1/9/02

3S

$5.28

35.4

N/A

$15.84

Biopure Corp. (BPUR)¹²

3/11/02

N/A

N/A

N/A

N/A

$30

BioTransplant Inc. (BTRN)¹³

12/11/01

5S

$8.10

21.1

N/A

$40.5

Celgene Corp. (CELG)¹⁴

12/21/01

N/A

N/A

75.6

N/A

$500

Cell Pathways Inc. (CLPA)¹⁵

2/7/01

N/A

N/A

N/A

N/A

$25

Cepheid Inc. (CPHD)¹⁶

12/21/01

N/A

N/A

26.56

N/A

$35

Cerus Corp. (CERS)¹⁷

8/13/01

N/A

N/A

15.7

N/A

$300

CollaGenex Pharmaceuticals Inc. (CGPI)¹⁸

10/26/01

0.965S

$8.01

N/A

Kingsbridge Capital Prentice Securities

$7.7

Cytogen Corp. (CYTO)¹⁹

10/26/01

10S

$2.50

79.8

N/A

$25

Dyax Corp. (DYAX)²⁰

4/25/02

5S

$3.66

19.6

N/A

$18.3

Exelixis Inc. (EXEL)²¹

7/30/01

N/A

N/A

49.2

N/A

$150

Genaera Corp. (GENR)²²

11/21/01

N/A

N/A

38.9

N/A

$50

Genaissance Pharmaceuticals Inc. (GNSC)²³

10/18/01

N/A

N/A

22.8

N/A

$35

Geron Corp. (GERN)²⁴

1/30/02

N/A

N/A

N/A

N/A

$150

Hollis-Eden Pharmaceuticals Inc. (HEPH)²⁵

2/26/02

3S

$8.71

N/A

N/A

$26.13

InSite Vision Inc. (AMEX:ISV)²⁶

2/2/01

N/A

N/A

N/A

Ladenburg Thalmann (placement agent)

$40

Myriad Genetics Inc. (MYGN)²⁷

11/9/01

N/A

N/A

N/A

N/A

$250

NeoTherapeutics Inc. (NEOT)²⁸

1/3/01

N/A

N/A

23.5

N/A

$50

NPS Pharmaceuticals Inc. (NPSP)²⁹

1/7/02

N/A

N/A

N/A

N/A

$250

Pharmos Corp. (PARS)³⁰

2/4/02

N/A

N/A

56.6

N/A

$25

SciClone Pharmaceuticals Inc. (SCLN)³¹

11/6/01

N/A

N/A

N/A

N/A

$20

StemCells Inc. (STEM)³²

3/8/02

15S

N/A

N/A

N/A

$37.8

Targeted Genetics Corp. (TGEN)³³

12/13/01

8.84S

$2.57

N/A

N/A

$22.72

The Medicines Company Inc. (MDCO)³⁴

4/23/02

4S

$11.18

N/A

N/A

$44.72

Tularik Inc. (TLRK)³⁵

8/14/01

N/A

N/A

49.2

N/A

$250

III. WITHDRAWN AND POSTPONED

Company (Symbol/Proposed Symbol)^#*

Date Filed/Date Pulled

Shares/Units (M)

Price Range

Shares Out (M)^%

Lead, Other Underwriters

Value (M)

INITIAL OFFERINGS

AgraQuest Inc. (AGRQ)³⁶

8/3/01
4/26/02

3.5S

$11-13

12.8

Merrill Lynch (co-lead)
Stephens (co-lead)

$42

APBiotech (APBI; unit of Nycomed Amersham plc)³⁷

10/3/00
4/23/02

18.2S

$15-17

208.6

Morgan Stanley Dean Witter (co-lead)
Goldman, Sachs (co-lead)
Chase H&Q
Salomon Smith Barney

$291.2

Notes:

^# Unless otherwise indicated, shares would be traded on the Nasdaq exchange.

^* Stock symbols for companies seeking to complete IPOs are proposed.

^% This column reflects the shares outstanding following the offering, when disclosed.

N/A = Not available, applicable or reported.

AMEX = American Stock Exchange

¹ Aderis set in April the number of shares and the price range of its IPO. The value, $71.5M, is based on the sale of 5.5M shares at $13 each, the midpoint of the expected price range. The underwriters have an overallotment option on 825,000 shares.

2 Ark intends to conduct its IPO on the London Stock Exchange, raising as much as US$57M.

³ Corcept's offering is for 4.5M shares, 4M sold by the company and 500,000 sold by a selling stockholder. The value of Corcept's offering, $60M, is based on the sale of 4M shares at $15 each, the midpoint of the expected price range.

⁴ DiaDexus' IPO value, $91M, is based on the sale of 7M shares at $13, the midpoint of the expected price range. The underwriters have an overallotment option on 1.05M shares.

⁵ Innovative Drug set the number of shares to be sold and the price range in March. The value, $50.4M, is based on the sale of 5.6M shares at $9 each, the midpoint of the expected price range. The underwriters have an overallotment option on 840,000 shares.

⁶ MitoKor filed for an IPO to raise $60M.

⁷ Novirio filed for an IPO to raise $115M.

⁸ Protarga filed for an IPO with hopes of raising $75M. It did not disclose the number of shares to be offered or the expected price range.

⁹ ViaCell filed for a $115M IPO. No further details were disclosed.

¹⁰ YM plans to go public on the Alternative Investment Market in London and the Toronto Stock Exchange, raising C$20M in Europe and another C$20M in Canada.

¹¹ Ariad filed a shelf registration to sell up to 3M shares. At the Jan. 8 closing stock price, it would raise $15.84M.

¹² Biopure filed to sell $30M of common stock from time to time. It raised $20.7M in a private placement in April

¹³ BioTransplant filed a shelf registration statement to sell up to 5M shares of its common stock. The value of the offering, $40.5M, is based on the Dec. 11 opening stock price of $8.10.

¹⁴ Celgene filed a universal shelf registration to offer and sell common stock, debt securities and convertible debt securities, up to a total value of $500M.

¹⁵ Cell Pathways filed a shelf registration for the sale of $25M in common stock.

¹⁶ Cepheid filed a shelf registration statement to offer and sell up to $35M of its common stock, preferred stock, debt securities and warrants.

¹⁷ Cerus filed to sell up to $300M of common stock and debt in a shelf offering.

¹⁸ The value of CollaGenex's proposed offering, $7.7M, is based on the Oct. 26 closing stock price of $8.01.

¹⁹ Cytogen filed to offer 10M shares at about $2.50 each in a shelf registration. It privately placed 3M shares in January.

²⁰ Dyax filed a shelf registration statement to sell up to 5M shares. The value, $18.3M, is based on the April 24 closing stock price, $3.66.

²¹ Exelixis filed a shelf registration to sell up to $150M in common stock.

²² Genaera filed a universal shelf registration statement for the sale of up to $50M in common stock, preferred stock or warrants to purchase common stock or preferred stock. It privately placed $16.5M in shares in April.

²³ Genaissance filed a shelf registration to offer and sell common stock, preferred stock, debt or warrants, up to a value of $35M.

²⁴ Geron filed a prospectus for the sale of up to $150M in debt securities, common or preferred stock and warrants.

²⁵ Hollis-Eden filed a shelf registration statement to sell up to 3M shares and warrants from time to time. The value is based on the proposed maximum offering price.

²⁶ InSite filed a shelf registration in February 2001 to sell $40M in stock.

²⁷ Myriad filed a shelf registration statement for the sale of up to $250M of various types of securities.

²⁸ NeoTherapeutics filed a shelf registration covering the sale of debt securities, common stock, preferred stock, depository shares or warrants up to $50M. In May 2001, the company raised $6M in a private placement. In August, the company privately placed 600,000 shares, raising $2.01M. In November, it placed 950,000 shares, raising $3.8M. In December, it placed 0.77M shares, raising $2.95M. In March 2002, it raised $8.05M in a private placement.

²⁹ NPS filed a shelf registration statement to offer and sell up to $250M of common stock, preferred stock and debt securities.

³⁰ Pharmos filed a shelf registration to sell up to $25M of common stock, preferred stock, debt securities and/or warrants.

³¹ SciClone filed to sell up to $20M in common and preferred stock, debt securities and warrants from time to time through a shelf offering.

³² StemCells filed with the SEC to sell up to 15M shares to raise a maximum of $37.8M. Further details were not disclosed.

³³ Targeted Genetics filed a shelf registration statement for the sale of up to about 8.84M shares of common stock. The value is based on the Jan. 22 closing stock price of $2.57.

³⁴ The Medicines Company filed to sell up to 4M shares of common stock from time to time in amounts, prices and on terms to be determined. The value, $44.72M, is based on the proposed maximum aggregate offering price of $11.18 per share.

³⁵ Tularik filed to sell up to $250M in common stock and debt securities.

³⁶ AgraQuest withdrew its IPO. The value, $42M, was based on the offering price of $12 per share, the midpoint of the expected price range.

³⁷ APBiotech's withdrew its IPO. The value, $291.2M, was based on the sale of 18.2M shares at $16 each, the midpoint of the expected price range.