I. COMMENCED TRADING IN FEBRUARY | ||||||||
Company (Symbol)# | Date Filed | Date Comm. | Shares/Units (M) | Price | SharesOut (M)@ | Lead, OtherUnderwriters | Gross (US$M) | Post-OfferingMarket Cap (M)% |
INITIAL OFFERINGS | ||||||||
Bioheart Inc. (BHRT)1 | 2/13/07 | 2/20/08 | 1.1S | $5.25 | 14.4 | Dawson James Sec. | $5.8 | $75.6 |
Total: $5.8MNumber of IPOs in February: 1. Average value of February IPOs: $5.8Number of IPOs in 2008: 1 Total raised in IPOs in 2008: $5.8MAverage value of IPOs in 2008: $5.8M | ||||||||
FOLLOW-ON OFFERINGS | ||||||||
Acorda Therapeutics Inc. (ACOR)2 | 2/6/08 | 2/13/08 | 3.795S | $21.50 | 32.3 | JP Morgan Securities Deutsche Bank Sec. (co-lead) Lazard Capital Markets Piper Jaffray Cowen & Co. Friedman Billings Ramsey |
$81.6 | $694.45 |
Opexa Therapeutics Inc. (OPXA)3 | 2/14/08 | 2/14/08 | 3.5S and 4W | $2 $0.15 |
10.2 | MDB Capital Group LLC GunnAllen Financial (co-lead) |
$7.6 | $20.4 |
Rigel Pharmaceuticals Inc. (RIGL) |
1/24/08 | 2/1/08 | 5S | $27 | 36 | Credit Suisse Sec. Thomas Weisel Partners Jefferies & Co. Inc. Oppenheimer & Co. |
$135 | $972 |
Vertex Pharmaceuticals Inc. (VRTX)4 |
2/12/08 | 2/13/08 | 6.9S and Notes | $17.14 | 139.8 | Merrill Lynch & Co. Goldman, Sachs & Co. Morgan StanleyJP Morgan |
$405.8 | $2,396.17 |
OVERALLOTMENT OPTIONS | ||||||||
Orexigen Therapeutics Inc. (OREX)5 |
1/7/08 | 2/7/08 | 0.326S | $11 | 34.3 | Merrill Lynch & Co. Leerink Swann (co-lead) JMP Securities LLC Lazard Capital Markets Canaccord Adams Inc. Natixis Bleichroeder |
$3.6 | $377.3 |
Total: $633.6MNumber of follow-on offerings in February: 4 Average value of February follow-ons: $158.4MNumber of follow-on offerings in 2008: 9 Total raised in follow-ons in 2008: $1,047.2MAverage value of follow-ons in 2008: $116.4M | ||||||||
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.1 Bioheart's overallotment option: 165,000 shares. 2 Acorda stockholders also are offering 83,000 shares. Includes overallotment option: 495,000 shares. 3 Opexa sold 3.5M shares at $2 each and 3.5M Series E warrants for 15 cents each, plus 525,000 Series E warrants for an overallotment option. 4 Vertex's financing consists of the sale of 6.9M shares and a separate offering of $287.5M in 4.75% convertible senior subordinated notes due in 2013. 5 Orexigen sold a total of 7.3M shares and raised $80.6M. | ||||||||
II. FILED AND PENDING | ||||||||
Company(Symbol/ Proposed Symbol)#* |
DateFiled |
Shares/Units (M) |
PriceRange |
SharesOut (M)@ |
Lead, OtherUnderwriters | Value(M) |
INITIAL OFFERINGS | ||||||
Aegerion Pharmaceuticals Inc. (AEGR) | 11/21/07 | N/A | N/A | N/A | Piper Jaffray Thomas Weisel Partners (co-lead) Lazard Capital Markets Collins Stewart LLC |
$86 |
Anacor Pharmaceuticals Inc. (ANAC) | 8/31/07 | N/A | N/A | N/A | Morgan Stanley & Co. Inc. Cowen & Co. LLC (co-lead)Pacific Growth Equities LLC Needham & Co. LLC |
$57.5 |
Bayhill Therapeutics Inc. (BHTX) | 1/9/08 | N/A | N/A | N/A | Pacific Growth Equities LLC Lazard Capital MarketsMerriman Curhan Ford & Co. Punk, Ziegel & Co. |
$86 |
Chemocentryx Inc. (CCXI) | 11/12/07 | N/A | N/A | N/A | Credit Suisse Securities LLC Cowen and Co.Leerink Swann Lazard Capital Markets |
$57.5 |
Elixir Pharmaceuticals Inc. (ELXR) | 9/24/07 | 5S | $14-$16 | 143.5 | Credit Suisse Securities LLC Pacific Growth EquitiesLeerink Swann LLC |
$75 |
Insys TherapeuticsInc. (INRX) |
8/20/07 | N/A | N/A | N/A | Banc of America Securities UBS Investment Bank (co-lead)JMP Securities Natixis Bleichroeder |
$86.25 |
MolMed SpA (Italy)1 |
2/20/08 | 26.1S | €2.15- €2.75 |
N/A | N/A | €63.9 ($94.6) |
MonoSol Rx Inc. (MSRX) |
5/14/07 | 4S | $16-$18 | 15 | Cowen and Co. CIBC World MarketsSusquehanna Financial |
$68 |
Omeros Corp. (OMER) |
1/10/08 | N/A | N/A | N/A | Deutsche Bank Securities Pacific Growth EquitiesLeerink Swann LLC Needham & Co. LLC |
$115 |
Peplin Inc. (PLIN) |
8/10/07 | N/A | N/A | N/A | Merrill Lynch & Co. Cowen & Co. LLCThomas Weisel Partners Leerink Swann & Co.Merrill Lynch International Wilson HTM |
$75 |
Phenomix Corp. (PHMX) |
1/28/08 | N/A | N/A | N/A | Morgan Stanley Credit Suisse (co-lead)Oppenheimer & Co. Pacific Growth Equities |
$86 |
Prometheus Laboratories Inc. |
12/19/07 | N/A | N/A | N/A | Goldman Sachs & Co. Credit Suisse (co-lead) |
$100 |
RXi PharmaceuticalsCorp. (RXIP; unit of CytRx Corp.) |
10/30/07 | 10.8S | N/A | N/A | N/A | N/A |
Talecris Biothera-peutics Holdings Corp. (TLCR) | 7/30/07 | N/A | N/A | N/A | Morgan Stanley Goldman Sachs & Co.J.P. Morgan |
$1B |
Xanodyne Pharmaceuticals Inc. (XANO) | 11/9/07 | N/A | N/A | N/A | Morgan Stanley Deutsche Bank (co-lead)RBC Capital Markets Natexis Bleichroeder |
$86.25 |
XDx Inc. (XDXI) | 10/24/07 | N/A | N/A | N/A | J.P. Morgan Securities Inc. Morgan Stanley & Co. (co-lead)Piper Jaffray & Co. JMP Securities LLC |
$86.3 |
FOLLOW-ON OFFERINGS | ||||||
Akela Pharma Inc. (Canada; TSX:AKL) | 2/25/08 | 7.5U | $1.20 | N/A | Jennings Capital Inc. Desjardins Securities Inc. |
$9 |
Biodel Inc. (BIOD)2 | 1/16/08 | 3.26S | $23.68 | 23.5 | Morgan Stanley & Co. Inc. JP Morgan Securities Inc.Leerink Swann LLC Natixis Bleichroeder Inc. |
$77.2 |
Genoptix Inc. (GXDX) | 2/14/08 | 4.2S | $30.50 | N/A | Lehman Brothers Inc. Banc of America SecuritiesUBS Investment Bank Cowen and Co. LLC |
$128.1 |
WITHDRAWN AND POSTPONED | ||||||
Company (Symbol)# | Date Filed/ Date Pulled | Shares/ Units (M) | Price Range | Shares Out (M)@ | Lead, Other Underwriters | Value (M) |
Archemix Corp. (ARCH)3 | 7/25/07 2/8/08 |
N/A | N/A | N/A | Banc of America Securities Bear, Stearns & Co. Inc.Cowen and Co. |
$69 |
Biolex Inc. (BLEX)4 | 8/14/07 2/4/08 |
N/A | N/A | N/A | Lehman Brothers Inc. Deutsche Bank (co-lead)Leerink Swann & Co. Inc. |
$70 |
Light Sciences Oncology Inc. (LSON)5 | 4/21/06 2/11/08 |
5.25S | $14-$16 | 18.5 | Cowen & Co. Wachovia Securities (co-lead)Jefferies & Co. Thomas Weisel Partners |
$78.75 |
Notes: # Unless otherwise indicated, shares are traded on the Nasdaq exchange; general shelf registration statements are not included until action is taken on the filing. * Stock symbols for companies seeking to complete IPOs are proposed. @ This column reflects the shares outstanding following the offering, when disclosed.The value of all offerings is based on either the midpoint of the price range listed in the company's SEC filing or the most recent closing stock price before the offering was announced. In some cases, the company has not disclosed the number of shares to be offered or a price range. Then, the value is the maximum aggregate offering price listed in the SEC filing. | ||||||
N/A = Not available, applicable or reported. TSX = Toronto Stock Exchange. | ||||||
1 MolMed plans to list its shares on the Mercato Telematico Azionario. | ||||||
2 Biodel's overallotment: 550,000 shares. | ||||||
3 Archemix withdrew its proposed IPO, citing unfavorable market conditions. | ||||||
4 Biolex withdrew its proposed IPO, citing unfavorable market conditions. | ||||||
5 Light Sciences withdrew its proposed IPO, citing unfavorable market conditions. |