Company
(Symbol)#

Date
filed

Date
comm.

Shares/
Units (M)

Price

Shares
out
(M)@

Lead, other
underwriters

Gross
(US$M)

Post-
offering
market
cap (M)%

INITIAL OFFERINGS TOTAL: $35.65M

Tigenix NV (Leuven, Belgium; TIG)1

12/24/15

12/16/16

2.3ADS

$15.50

248.3

Canaccord Genuity; BofA Merrill Lynch; Cowen & Co.; BTIG

$35.65

N/A


Number of IPOs in December: 1

Average value of December IPOs: $35.65M

Number of IPOs in 2016: 38

Total raised in IPOs in 2016: $5,938.92M

Average value of IPOs in 2016: $156.29M

FOLLOW-ON OFFERINGS TOTAL: $902.07M

Achaogen Inc. (South San Francisco; AKAO)2

4/21/15

12/15/16

7.47S

$13.50

34.93

Leerink Partners; Stifel; Guggenheim Securities; Suntrust Robinson Humphrey

$87.75

$471.56

Aurinia Pharmaceuticals Inc. (Victoria, British Columbia; AUPH)3

12/23/16

12/28/16

12.8U

$2.25

N/A

H.C. Wainwright; Cormark Securities

$28.80

N/A

Bluebird Bio Inc. (Cambridge, Mass.; BLUE)4

7/2/14

12/8/16

3.29S

$76.00

40.59

Goldman, Sachs & Co.; BofA Merrill Lynch; Cowen and Co.; Wells Fargo Securities; Wedbush Pacgrow

$249.90

$3,084.84

Blueprint Medicines Corp. (Cambridge, Mass.; BPMC)5

7/25/16

12/8/16

5.75S

$25.00

33.06

Goldman, Sachs & Co.; Morgan Stanley; Cowen & Co.; JMP Securities; Wedbush Pacgrow

$143.75

$826.50

Cellectar Biosciences Inc. (Madison, Wis.; CLRB)6

11/28/16

12/1/16

1.6S and 68 Series A stock and Series C warrants

$1.50

6.17

Ladenburg Thalmann Financial Services; Aegis Capital

$9.20

$9.26

Clearside Biomedical Inc. (Alpharetta, Ga.; CLSD)7

12/9/16

12/9/16

4S

$9.00

24.50

J.P. Morgan Securities; Cowen and Co.; Stifel, Nicolaus & Co.; Wedbush Securities

$36.00

$220.50

Neuroderm Ltd. (Rehovot, Israel; NDRM)8

4/18/16

12/8/16

4.6S

$18.75

26.33

Jefferies; Cowen and Co.; Raymond James & Associates; Roth Capital Partners

$86.25

$493.69

Palatin Technologies Inc. (Cranbury, N.J.; NYSE MKT:PTN)9

8/18/15

12/2/16

25.4S and W for 12.7S

$0.65

133.4

Canaccord Genuity; Roth Capital Partners; Chardan Capital Markets

$16.50

$86.71

Recro Pharma Inc. (Malvern, Pa.; REPH)10

12/9/16

12/14/16

6.5S

$6.00

18.87

Piper Jaffray; Janney Montgomery Scott; Roth Capital Partners

$39.00

$113.22

Redhill Biopharma Ltd. (Tel Aviv, Israel; RDHL)11

3/11/16

12/22/16

2.38ADS and W for 1.125ADS

$10.25

164.9

Roth Capital Partners; Echelon Wealth Partners

$24.40

N/A

Rxi Pharmaceuticals Corp. (Marlborough, Mass.; RXII)12

12/19/16

12/19/16

Class A and B units

$0.90

N/A

Ladenburg Thalmann; Griffin Securities

$11.50

N/A

Solilgenix Inc. (Princeton, N.J.; OTCQB:SNGX)13

2/14/16

12/14/16

1.67S and W for 2.08S

$3.16

5.47

Aegis Capital; Maxim Group

$5.27

$17.29

Tracon Pharmaceuticals Inc. (San Diego; TCON)14

3/31/16

12/1/16

3S

$5.75

16.1

Jefferies; Stifel; BTIG

$17.25

$92.58

Vericel Corp. (Cambridge, Mass.; VCEL)15

7/15/15

12/19/16

7.1S

$2.75

32.83

Piper Jaffray

$20.00

$90.28

Xencor Inc. (Monrovia, Calif.; XNCR)16

10/5/16

12/2/16

5.27S

$24.00

46.4

Leerink Partners; Canaccord Genuity; Wedbush Pacgrow

$126.50

$1,113.60


Number of follow-on offerings in December: 15

Average value of November follow-ons: $60.14M

Number of follow-on offerings in 2016: 140

Total raised in follow-ons in 2016: $15,181.18M

Average value of follow-ons in 2016: $108.4M


Notes

# Unless otherwise indicated, shares are traded on the Nasdaq exchange.

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

% Market capitalization is calculated based on the offering price.

Currency conversions are based on exchange rates at the time of the deal.

This chart includes only biotech companies that develop therapeutics.

1 Tigenix's ADSs represent 46M ordinary shares. Overallotment option: 345,000 ADSs, representing 6.9M ordinary shares.

2 Includes Achaogen's overallotment option: 975,000 shares.

3 Aurinia's units each consist of one common share and one-half of a warrant to purchase one share, with an exercise price of $3 per whole warrant. Includes overallotment option: 1.6M units.

4 Bluebird Bio's overallotment option: 493,420 shares.

5 Includes Blueprint Medicines' overallotment option: 750,000 shares.

6 Cellectar Biosciences closed a public offering of 1.6M shares and 68 preferred shares, including full exercise of the $1.2M overallotment.

7 Clearside's overallotment option: 600,000 shares.

8 Includes Neuroderm's overallotment option: 600,000 shares.

9 Palatin's units each consisted of one common share and a series J warrant to purchase one-half of an additional share, priced at 65 cents per unit.

10 Recro's overallotment option: 975,000 shares.

11 Redhill ADSs each represent 10 ordinary shares, and warrants to purchase 1.125M ADSs. Includes overallotment for 133,104 ADSs.

12 Rxi's units each consist of one share of common stock and a five-year warrant to purchase one share of common stock at an exercise price of 90 cents per share, and class B units, priced at a public offering price of $1,000 per unit, with each unit consisting of one share of series B convertible preferred stock, which is convertible into 1,111.11 shares of common stock, and 1,111.11 warrants. Includes overallotment option: up to about 1.7M additional shares of common stock and/or additional warrants to purchase up to 1.7M shares.

13 Includes Soligenix's overallotment option: 282,505 warrants.

14 Includes Tracon Pharmaceuticals' overallotment option: 393,750 shares.

15 Includes Vericel's overallotment option: 930,000 shares.

16 Includes Xencor's overallotment option: 687,750 shares.