I. COMMENCED TRADING IN OCTOBER | ||||||||
Company |
Date |
Date |
Shares/ |
Price |
Shares |
Lead, Other |
Gross |
Post- |
INITIAL OFFERINGS | ||||||||
Accentia Bio- |
2/11/05 |
10/28/05 |
2.4S |
$8 |
28.87 |
Jefferies & Co. Ferris, Baker WattsStifel, Nicolaus & Co. GunnAllen Financial |
$19.2 |
$231.0 |
Can-Fite |
9/26/05 |
10/5/05 |
0.133U |
NIS337 |
128.9 |
I.B.I Poalim, Apex Mutavim,D.I.M. |
NIS45 |
NIS160 |
Jerini AG |
10/10/05 |
10/31/05 |
15.5 |
€3.20 |
48.95 |
Credit Suisse First Boston, Deutsche Bank (co- lead),Fortis Bank, West LB |
€49.6 |
€156.6 |
Total: $88.8M | ||||||||
Number of IPOs in October: 3 | ||||||||
Average value of October IPOs: $29.9M | ||||||||
Number of IPOs in 2005: 28 | ||||||||
Total raised in IPOs in 2005: $1,337.69M | ||||||||
Average value of IPOs in 2005: $47.77M | ||||||||
FOLLOW-ON OFFERINGS | ||||||||
Company |
Date |
Date |
Shares/ |
Price |
Shares |
Lead, Other |
Gross |
Post-Offering |
CoTherix |
9/20/05 |
10/6/05 |
4.338S |
$13 |
28.34 |
CIBC World Markets, UBS Investment Bank (co-lead),Piper Jaffray & Co., Needham & Co. |
$56.4 |
$368.4 |
Dynavax |
8/29/05 |
10/11/05 |
5S |
$6.25 |
29.75 |
Bear, Stearns & Co., CIBC World Markets,Pacific Growth Equities |
$31.25 |
$185.9 |
GTx Inc. |
8/17/05 |
10/11/05 |
6.325S |
$7.80 |
30.99 |
Lazard Capital Markets, SG Cowen & Co. (co-lead) |
$49.34 |
$241.7 |
Idenix |
9/14/05 |
10/26/05 |
7.28S |
$20.61 |
$55.63 |
Morgan Stanley & Co., Bear, Stearns & Co. (co-lead) |
$150 |
$1,146.5 |
Panacos |
7/7/05 |
10/6/05 |
8.25S |
$10.50 |
47.76 |
SG Cowen & Co., Bear, Stearns & Co. (co-lead), Needham & Co.,Leerink Swann & Co. |
$86.63 |
$501.5 |
Threshold Pharmaceuticals Inc. (THLD)9 |
9/27/05 |
10/12/05 |
6.25S |
$10.46 |
37.11 |
Morgan Stanley & Co. |
$65.38 |
$388.2 |
Total: $439.0M | ||||||||
Number of follow-on offerings in October: 6 | ||||||||
Average value of October follow-ons: $73.17M | ||||||||
Number of follow-on offerings in 2005: 47 | ||||||||
Total raised in follow-ons in 2005: $3,305.46M | ||||||||
Average value of follow-ons in 2005: $70.33M | ||||||||
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. | ||||||||
FSE = Frankfurt Stock Exchange; TEL = Tel Aviv Stock Exchange. | ||||||||
Currency conversions are based on exchange rates at the time of the deal. | ||||||||
1. Accentia raised $19.2M in an IPO of 2.4M shares. Underwriters have an option to purchase up to 360,000 additional shares to cover overallotments. | ||||||||
2. Can-Fite raised $10M in an IPO on the Tel Aviv Stock Exchange. Each unit consisted of 300 common shares at NIS 1.125 per share and 100 options. | ||||||||
3. Jerini raised €49.6M in an IPO of 15.5M shares on the Frankfurt Stock Exchange. Underwriters have an option to purchase up to 600,000 additional shares to cover overallotments. | ||||||||
4. CoTherix raised $56.4M in a follow-on offering of about 4.338M shares. The totals include the purchase of 337,500 shares by underwriters per their overallotment option. The totals do not include about 0.838M shares sold in the deal by stockholders. | ||||||||
5. Dynavax raised $31.25M in a follow-on offering of 5M shares. Underwriters have an option to purchase up to 750,000 additional shares to cover overallotments. | ||||||||
6. GTx raised $49.34M in a follow-on offering of 6.325M shares. The totals include the underwriters' purchase of 825,000 shares per their overallotment option. | ||||||||
7. Idenix raised $150M in a follow-on offering of about 7.28M shares. The totals do not include 942,507 shares sold in the deal by stockholders. Underwriters have an option to purchase up to 1.13M additional shares to cover overallotments. | ||||||||
8. Panacos raised $86.63M in a follow-on offering of 8.25M shares. Underwriters have an option to purchase up to 375,000 additional shares to cover overallotments. | ||||||||
9. Threshold raised $65.38M in a follow-on offering of 6.25M shares. Underwriters have an option to purchase up to 937,500 additional shares, half from stockholders, to cover overallotments. | ||||||||
II. FILED AND PENDING | ||||||||
INITIAL OFFERINGS | ||||||
Company |
Date |
Shares/ |
Price Range |
Shares Out (M)@ |
Lead, Other Underwriters |
Value |
Acorda |
10/5/05 |
N/A |
N/A |
N/A |
Banc of America, Lazard Capital Markets, Piper Jaffray & Co., SG Cowen & Co. |
$86.75 |
AlgoRx |
11/29/04 |
6.8S |
$7-$8 |
N/A |
Credit Suisse First Boston, Lazard Freres & Co., Citigroup (co- ead), Piper Jaffray & Co. |
$51 |
Altus |
10/17/05 |
N/A |
N/A |
N/A |
Merrill Lynch & Co., Morgan Stanley (co-lead), SG Cowen & Co. |
$115 |
BioNumerik |
6/9/04 |
5S |
$14-$16 |
N/A |
UBS Investment Bank, Needham & Co., Leerink Swann & Co., Punk, Ziegel & Co. |
$75 |
CombinatoRx |
12/13/04 |
6S |
$10-$12 |
N/A |
SG Cowen & Co., Pacific Growth Equities (co-lead), SunTrust Robinson Humphrey, A.G. Edwards |
$66 |
Corus |
8/27/04 |
N/A |
N/A |
N/A |
Merrill Lynch & Co., Pacific Growth Equities, SunTrust Robinson Humphrey, JMP Securities |
$100 |
Glycotex Inc. |
9/9/05 |
N/A |
N/A |
N/A |
Janney Montgomery Scott |
$39 |
Iomai Corp. |
10/3/05 |
N/A |
N/A |
N/A |
UBS Investment Bank, SG Cowen & Co., First Albany Capital, Susquehanna Financial |
$86.25 |
Prestwick |
4/22/05 |
N/A |
N/A |
N/A |
UBS Investment Bank, Deutsche Bank Securities, CIBC World Markets |
$74.75 |
Reliant |
5/20/05 |
N/A |
N/A |
N/A |
Goldman, Sachs & Co., Banc of America Securities, Deutsche Bank Securities, JP Morgan Securities, William Blair & Co., Lazard Capital Markets |
$300 |
SGX |
9/2/05 |
N/A |
N/A |
N/A |
CIBC World Markets, Piper Jaffray & Co. (co-lead), JMP Securities |
$80.5 |
Somaxon |
10/7/05 |
N/A |
N/A |
N/A |
Morgan Stanley & Co., JP Morgan Securities (co-lead), Piper Jaffray & Co., Thomas Weisel Partners |
$86.25 |
Valera |
3/14/05 |
N/A |
N/A |
N/A |
UBS Investment Bank, Banc of America (co-lead), First Albany Capital, Fortis Securities |
$74.75 |
Voyager |
9/9/05 |
5.9S |
$15-$19 |
N/A |
WR Hambrecht + Co. |
$100.3 |
FOLLOW-ON OFFERINGS | ||||||
Durect Corp. |
10/27/05 |
7.4S |
$7.18 |
N/A |
Morgan Stanley & Co., JP Morgan Securities (co-lead), CIBC World Markets Corp., WR Hambrecht + Co. |
$53.1 |
Medivation |
10/6/05 |
8.7S |
$2.75 |
N/A |
Adams Harkness |
$23.9 |
Myriad |
4/20/05 |
7S |
$20.46 |
N/A |
JP Morgan Securities, Bear, Stearns & Co. (co-lead), UBS Securities (co-lead), Piper Jaffray & Co., First Albany Capital, JMP Securities |
$143.2 |
WITHDRAWN AND POSTPONED | ||||||
Company |
Date Filed/ Date Pulled |
Shares/ Units (M) |
Price Range |
Shares Out (M)@ |
Lead, Other Underwriters |
Value |
Point |
1/12/05/ 10/28/05 |
6S |
$4.25 |
N/A |
Pacific Growth Equities, CIBC World Markets (co-lead) |
$25.5 |
Predix |
8/3/05/ |
5S |
$10-$12 |
N/A |
UBS Investment Bank, Deutsche Bank Securities (co-lead), CIBC World Markets, ThinkEquity Partners |
$55 |
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. | ||||||
N/A = Not available, applicable or reported. | ||||||
NYSE = New York Stock Exchange; OTC BB = Over-the-Counter Bulletin Board. | ||||||
1. Acorda filed to raise up to $86.75M in an IPO. It withdrew a previous IPO filing in January 2004. | ||||||
2. AlgoRx filed to raise up to $75M in an IPO. It reduced the price range in February. The value is based on the midpoint of that price range. It entered a merger agreement with the public company Corgentech Inc. on Sept. 26. | ||||||
3. Altus filed to raise up to $115M in an IPO. | ||||||
4. BioNumerik filed to raise up to $86.25M in an IPO. It later proposed selling 5M shares at $14 to $16 per share. The value is based on the midpoint of that price range. | ||||||
5. CombinatoRx filed to raise up to $100M in an IPO. It later proposed selling 6M shares at $10 to $12 per share. The value is based on the midpoint of that price range. | ||||||
6. Corus filed to raise up to $100M in an IPO. | ||||||
7. Glycotex, a subsidiary of Novogen Ltd., filed to raise up to $39M in an IPO. | ||||||
8. Iomai filed to raise up to $86.25M in an IPO. | ||||||
9. Prestwick filed to raise up to $74.75M in an IPO. | ||||||
10. Reliant filed to raise up to $300M in an IPO. An undisclosed minority portion of the shares would be sold by an existing shareholder. | ||||||
11. SGX filed to raise up to $80.5M in an IPO. | ||||||
12. Somaxon filed to raise up to $86.25M in an IPO. | ||||||
13. Valera filed to raise up to $74.75M in an IPO. | ||||||
14. Voyager filed to raise up to $128.9M in an IPO. It proposed the price range on Oct. 14. The value is based on the midpoint of that range. | ||||||
15. Durect registered to sell 7.4M shares in a follow-on offering. The value is based on the Oct. 26 closing price. | ||||||
16. Medivation registered to sell 8.7M shares in a follow-on offering. The value is based on the Oct. 14 closing price. | ||||||
17. Myriad said on Oct. 28 it was selling 7M shares from a shelf registration. The value is based on the Oct. 27 closing price. | ||||||
18. Point Therapeutics cited market conditions in deciding not to price a proposed offering of 6M shares from a shelf registration. | ||||||
19. Predix cited unfavorable market conditions in withdrawing its proposed IPO. | ||||||