I. COMMENCED TRADING IN MARCH

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

There were no initial public offerings conducted in March.

Total: $0M

Number of IPOs in March: 0

Average value of March IPOs: $0M

Number of IPOs in 2003: 0

Total raised in IPOs in 2003: $0M

Average value of IPOs in 2003: $0M

 

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)%


Bioxel Pharma Inc. (Canada; CDNX:BIP)1

11/11/02

3/7/03

13.6S

C70 cents

N/A

Dundee Securities National Bank Financial Canaccord Capital

C$9.5 (US$6.5)

N/A

 

Inspire Pharmaceuticals Inc. (ISPH)2

1/21/03

3/14/03

5.75S

$13.50

30.9

Deutsch Bank (co-lead) U.S. Bancorp Piper Jaffray (co-lead)

$77.63

$417.15

 

The Medicines Co. (MDCO)3

3/5/03

3/14/03

4.9S

$17.50

45.7

Morgan Stanley (co-lead) Bear, Stearns & Co. (co-lead) CIBC World Markets

$85.75

$799.75

  

Total: $169.88M

Number of follow-on offerings in March: 3

Average value of March follow-ons: $56.63M

Number of follow-on offerings in 2003: 7

Total raised in follow-ons in 2003: $505.935M

Average value of follow-ons in 2003: $72.28M


Notes:

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

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

% Market capitalization calculated is based on the offering price; N/A = Not available; CDNX = Canadian Venture Exchange

1. Bioxel completed a public offering of about 13.6M shares at C70 cents per share. The offering includes an overallotment option of 15%.

2. Inspire raised $77.63M with an offering of 5.75M shares, which includes the underwriters' overallotment option for 750,000 shares.

3. The Medicines Co. raised $85.75M in a public offering of 4.9M shares. Underwriters have an overallotment option for 697,280 shares.

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

Stem Genetics
Inc.
(N/A)1

7/18/02

1.5S

$7

32.3

Self-underwritten

$10.5

 

ViaCell Inc.
(VIAC)2

1/30/02

N/A

N/A

N/A

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

$115

 

FOLLOW-ON OFFERINGS

Aphton Corp. 
(APHT)3

7/8/02

5S

$6.50

25.1

N/A

$32.5

 

Ariad 
Pharmaceuticals
Inc. (ARIA)4

1/9/02

3S

$5.28

35.4

N/A

$15.84

 

Biomira Inc. 
(Canada; BIOM; TSE:BRA)5

5/2/02

N/A

N/A

53.4

N/A

C$150 (US$97.84)

 

BioPure 
Corp.
(BPUR)6

3/6/03

10S

$3.84

N/A

N/A

$38.4

 

Celgene
Corp.
(CELG)7

12/21/01

N/A

N/A

75.6

N/A

$500

 

Cell Genesys
Inc.
(CEGE)8

12/23/02

N/A

N/A

N/A

N/A

$150

 

Cell Pathways
Inc.
(CLPA)9

2/7/01

N/A

N/A

N/A

N/A

$25

 

Centrex Inc. 
(OTC BB:CNEX)10

2/24/03

N/A

N/A

N/A

HD Brous & Co.

$20

 

Cepheid
Inc.
(CPHD)11

12/21/01

N/A

N/A

26.56

N/A

$35

 

Cerus Corp. 
(CERS)12

8/13/01

N/A

N/A

15.7

N/A

$300

 

CollaGenex
Pharmaceuticals
Inc.
(CGPI)13

10/26/01

0.965S

$8.01

N/A

Kingsbridge Capital
Prentice Securities

$7.7

  

Cubist 
Pharmaceuticals
Inc. (CBST)14

3/7/03

N/A

N/A

N/A

N/A

$75

  

Cytogen
Corp.
(CYTO)15

10/26/01

10S

$2.50

79.8

N/A

$25

  

Dendreon Corp. (DNDN)16

1/22/03

N/A

N/A

N/A

N/A

$75

 

EntreMed Inc.
(ENMD)17

5/10/02

N/A

N/A

N/A

N/A

$50

 

Exelixis Inc.
(EXEL)18

7/30/01

N/A

N/A

49.2

N/A

$150

 

Genaera Corp.
(GENR)19

11/21/01

N/A

N/A

38.9

N/A

$50

 

Genaissance Pharmaceuticals Inc. (GNSC)20

10/18/01

N/A

N/A

22.8

N/A

$35

 

GenVec Inc.
(GNVC)21

12/19/02

N/A

N/A

N/A

N/A

$25

 

Geron Corp.
(GERN)22

1/30/02

N/A

N/A

N/A

N/A

$150

 

Hemispherx
Biopharma Inc.
(AMEX:HEB)23

1/15/03

5S

$2.16

37.6

N/A

$10.8

 

Hollis-Eden
Pharmaceuticals
Inc.
(HEPH)24

2/26/02

3S

$8.71

N/A

N/A

$26.13

 

InSite Vision Inc. (AMEX:ISV)25

2/2/01

N/A

N/A

N/A

Ladenburg Thalmann (placement agent)

$40

  

Lexicon Genetics 
Inc.
(LEXG)26

11/27/02

12S

$3.98

N/A

N/A

$47.76

 

Martek Biosciences
Corp.
(MATK)27

2/4/03

N/A

N/A

N/A

N/A

$100

 

Neurogen Corp. (NRGN)28

8/16/02

N/A

N/A

N/A

N/A

$75

  

Northwest
Biotherapeutics
Inc.
(NWBT)29

6/4/02

11S

$3.77

17

C.E. Unterberg,
Towbin

$41.5

 

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

$2.52

25.8

N/A

$37.8

 

Targeted 
Genetics Corp.
(TGEN)33

12/13/01

8.84S

$2.57

N/A

N/A

$22.72

 

Triangle
Pharmaceuticals Inc.
(VIRS)34

9/25/02

N/A

N/A

N/A

N/A

$80

 

Tularik Inc.
(TLRK)35

8/14/01

N/A

N/A

49.2

N/A

$250

 

VaxGen Inc.
(VXGN)36

11/7/02

N/A

N/A

N/A

N/A

$150

 

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 PUBLIC OFFERINGS

MitoKor Inc. 
(MITO)37

3/8/02

3/25/03

N/A

N/A

N/A

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

$60

 


Notes:

# Unless otherwise indicated, shares are 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; OTC BB = Over-the-Counter Bulletin Board; TSE = Toronto Stock Exchange

1. Stem Genetics filed for an IPO to raise $10.5M. It intends to go public on the Over-the-Counter Bulletin Board, but did not specify a proposed symbol in its SEC filing.

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

3. Aphton filed a shelf registration statement to sell up to 5M shares at a maximum amount of $6.50 per share. The company privately placed $5M in shares in September 2002 and $1.52M in shares in February 2003.

4. Ariad filed a shelf registration statement to sell up to 3M shares. At the Jan. 8, 2002, closing stock price, it would raise $15.84M.

5. Biomira filed a $150M shelf prospectus in Canada.

6. BioPure registered to sell up to 10M shares of common stock through a shelf registration. Based on the March 6, 2003, closing stock price of $3.84, the offering would raise $38.4M.

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

8. Cell Genesys filed a shelf registration statement allowing it to issue, from time to time, up to $150M of securities.

9. Cell Pathways filed a shelf registration statement for the sale of $25M in common stock. The company privately placed $4.4M in shares in September 2002.

10. Centrex plans to raised $20M with HD Brous as its managing underwriter.

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

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

13. The value of CollaGenex's proposed offering, $7.7M, is based on the Oct. 26, 2001, closing stock price of $8.01. CollaGenex privately placed 119,335 shares in May 2002, raising $1M. It placed 32,187 shares in June 2002, raising $266,667.

14. Cubist filed a shelf registration statement to sell up to $75M in stock.

15. Cytogen filed to offer 10M shares at about $2.50 each in a shelf registration statement. It privately placed 3M shares in January 2002, and another 4.17M shares in June 2002.

16. Dendreon filed a shelf registration statement with the SEC to sell $75M in stock from time to time.

17. EntreMed filed a $50M shelf registration statement, allowing it to offer securities from time to time in the form of common stock, preferred stock or warrants to purchase securities.

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

19. 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 2002.

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

21. GenVec filed a $25M shelf registration statement with the SEC.

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

23. Hemispherx filed to register 5M shares of common stock. The value, $10.8M, is based on the proposed maximum offering price.

24. 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.

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

26. Lexicon Genetics filed a shelf registration statement with the SEC to sell up to an aggregate of 12M shares of common stock from time to time. The value, $47.76M, is based on the proposed maximum aggregate offering price per share of $3.98.

27. Martek filed a shelf registration statement to raise up to $100M.

28. Neurogen filed for a $75M universal shelf registration statement.

29. Northwest expects to offer 11M shares as part of a lock-up agreement with the underwriter from the company's December 2001 initial public offering. The value, $41.5M, is based on the June 3, 2002, closing stock price of $3.77.

30. Pharmos filed a shelf registration statement 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. SciClone privately placed $10.62M in shares in June 2002.

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, 2002, closing stock price of $2.57.

34. Triangle filed a shelf registration statement with the SEC to sell up to $80M in common and preferred stock.

35. Tularik filed to sell up to $250M in common stock and debt securities. It raised $27.2M in October 2002 with an offering of 4M shares.

36. VaxGen filed a shelf registration statement for $150M in common stock, preferred stock, debt securities and warrants. Further details were not disclosed.

37. MitoKor withdrew its initial public offering due to unfavorable market conditions.