I. COMMENCED TRADING IN SEPTEMBER | ||||||||
Company |
Date |
Date |
Shares/ |
Price |
Shares |
Lead, Other |
Gross |
Post- |
|
| ||||||||
INITIAL OFFERINGS | ||||||||
Avalon |
5/4/05 |
9/29/05 |
2.75S |
$10.50 |
8.40 |
W.R. Hambrecht + Co., Legg Mason Wood Walker,Susquehanna Financial |
$28.88 |
$88.2 |
| ||||||||
Genomic |
7/15/05 |
9/29/05 |
5.017S |
$12 |
24.37 |
JP Morgan Securities, Lehman Brothers (co-lead),Piper Jaffray & Co., Thomas Weisel PartnersJMP Securities |
$60.2 |
$292.4 |
| ||||||||
Sunesis |
12/23/04 |
9/26/05 |
6S |
$7 |
21.46 |
Lehman Brothers, SG Cowen & Co. (co-lead),Needham & Co. |
$42 |
$150.2 |
| ||||||||
Total: $131.08M | ||||||||
Number of IPOs in September: 3 | ||||||||
Average value of September IPOs: $43.69M | ||||||||
Number of IPOs in 2005: 25 | ||||||||
Total raised in IPOs in 2005: $1,248.89M | ||||||||
Average value of IPOs in 2005: $49.96M | ||||||||
| ||||||||
FOLLOW-ON OFFERINGS | ||||||||
Company |
Date |
Date |
Shares/ |
Price |
Shares |
Lead, Other |
Gross |
Post-Offering |
|
| ||||||||
Acusphere |
4/5/05 |
9/23/05 |
3.566S |
$5.25 |
21.40 |
Piper Jaffray & Co. |
$18.72 |
$112.4 |
| ||||||||
BioDelivery |
8/3/05 |
9/30/05 |
4.4S |
$2 |
11.67 |
Ferris, Baker Watts, Maxim Group,GunnAllen Financial |
$8.8 |
$23.3 |
| ||||||||
Geron Corp. |
5/5/04 |
9/16/05 |
6.9S |
$9 |
64.81 |
UBS Investment Bank, SG Cowen & Co.,Needham & Co., Lazard Capital Markets,Rodman & Renshaw, WBB Securities |
$62.1 |
$583.3 |
| ||||||||
Meridian |
10/9/03 |
9/16/05 |
1.8S |
$17.50 |
25.92 |
Robert W. Baird & Co. |
$31.5 |
$453.6 |
| ||||||||
Myogen Inc. |
6/3/05 |
9/16/05 |
5.376S |
$23.25 |
41.16 |
Goldman, Sachs & Co., CIBC World Markets,First Albany Capital, Lazard Capital Markets |
$125 |
$957.0 |
| ||||||||
Progenics |
6/29/04 |
9/14/05 |
2.5S |
$23.90 |
24.15 |
UBS Investment Bank, CIBC World Markets (co-lead) |
$59.75 |
$577.2 |
| ||||||||
Renovis Inc. |
5/23/05 |
9/23/05 |
4S |
$13.50 |
28.86 |
Goldman, Sachs & Co., CIBC World Markets,Piper Jaffray & Co., SG Cowen & Co. |
$54 |
$389.6 |
| ||||||||
Total: $359.87M | ||||||||
Number of follow-on offerings in September: 7 | ||||||||
Average value of September follow-ons: $51.41M | ||||||||
Number of follow-on offerings in 2005: 41 | ||||||||
Total raised in follow-ons in 2005: $2,866.46M | ||||||||
Average value of follow-ons in 2005: $69.91M | ||||||||
|
| ||||||||
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. Avalon raised $28.88M in an IPO of 2.75M shares. Underwriters have an option to purchase up to 412,500 additional shares to cover overallotments. | ||||||||
2. Genomic Health raised $60.2M in an IPO of 5.017M shares. Underwriters have an option to purchase up to 752,508 additional shares to cover overallotments. | ||||||||
3. Sunesis raised $42M in an IPO of 6M shares. Underwriters have an option to purchase up to 900,000 additional shares to cover overallotments. | ||||||||
4. Acusphere raised $18.72M in a follow-on offering of 3.566M shares from a shelf registration. | ||||||||
5. BioDelivery Sciences raised $8.8M in a follow-on offering of 4.4M shares. Underwriters have an option to purchase up to 660,000 additional shares to cover overallotments. | ||||||||
6. Geron raised $62.1M in a follow-on offering of 6.9M shares from a shelf registration. The totals include the underwriters' purchase of 900,000 shares per their overallotment option. The totals do not include $18M raised from the concurrent sale of 2M shares to Merck & Co. Inc. | ||||||||
7. Meridian raised $31.5M in a follow-on offering of 1.8M shares from a shelf registration. The totals do not include $26.25M raised concurrently from the sale of 1.5M shares by The William J. Motto Irrevocable Family Trust. | ||||||||
8. Myogen raised $125M in a follow-on offering of 5.376M shares. The totals include the underwriters' purchase of 701,262 shares per their overallotment option. | ||||||||
9. Progenics raised $59.75M in a follow-on offering of 2.5M shares from a shelf registration. Underwriters have an option to purchase up to 375,000 additional shares to cover overallotments. | ||||||||
10. Renovis raised $54M in a follow-on offering of 4M shares from a shelf registration. Underwriters have an option to purchase up to 600,000 additional shares to cover overallotments. | ||||||||
| ||||||||
II. FILED AND PENDING | ||||||||
Company |
Date |
Shares/ |
Price Range |
Shares Out (M)@ |
Lead, Other Underwriters |
Value (M) |
||
|
| ||||||||
INITIAL OFFERINGS | ||||||||
Accentia Bio- |
2/11/05 |
N/A |
N/A |
N/A |
Jefferies & Co., Robert W. Baird & Co., Ferris, Baker Watts, Stifel, Nicolaus & Co. |
$86.25 |
||
| ||||||||
AlgoRx Pharmaceuticals Inc.(AGRX)2 |
11/29/04 |
6.8S |
$7-$8 |
N/A |
Citigroup (co-lead), Piper Jaffray & Co., Lazard Freres & Co. |
$51 |
||
| ||||||||
BioNumerik |
6/9/04 |
N/A |
N/A |
N/A |
UBS Investment Bank, Needham & Co., Leerink Swann & Co., Punk, Ziegel & Co. |
$86.25 |
||
| ||||||||
CombinatoRx |
12/13/04 |
N/A |
N/A |
N/A |
SG Cowen & Co., Pacific Growth Equities (co-lead), SunTrust Robinson Humphrey, A.G. Edwards |
$100 |
||
| ||||||||
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 |
||
| ||||||||
Predix |
8/3/05 |
N/A |
N/A |
N/A |
UBS Investment Bank, Deutsche Bank Securities (co-lead), CIBC World Markets, ThinkEquity Partners |
$70 |
||
| ||||||||
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 |
||
| ||||||||
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 |
N/A |
N/A |
N/A |
WR Hambrecht + Co. |
$128.9 |
||
| ||||||||
FOLLOW-ON OFFERINGS | ||||||||
CoTherix |
9/20/05 |
4S |
$14.04 |
N/A |
CIBC World Markets, UBS Investment Bank (co-lead), Piper Jaffray & Co., Needham & Co. |
$56.2 |
||
| ||||||||
Panacos |
7/7/05 |
8S |
$9.35 |
N/A |
SG Cowen & Co., Bear, Stearns & Co. (co-lead), Needham & Co., Leerink Swann & Co. |
$74.8 |
||
| ||||||||
WITHDRAWN AND POSTPONED | ||||||||
Company |
Date Filed/ Date Pulled |
Shares/ Units |
Price |
Shares Out (M)@ |
Lead, Other Underwriters |
Value |
||
|
| ||||||||
Intarcia |
2/7/05/ |
N/A |
N/A |
N/A |
Credit Suisse First Boston, Pacific Growth Equities, Lazard Freres & Co. |
$86.25 |
||
| ||||||||
GTx Inc. |
8/17/05/ |
5S |
$10.34 |
N/A |
Goldman, Sachs & Co., Lazard Capital Markets, SG Cowen & Co. |
$51.7 |
||
|
| ||||||||
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. | ||||||||
1. Accentia filed to raise up to $86.25M in an IPO. | ||||||||
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. BioNumerik filed to raise up to $86.25M in an IPO. | ||||||||
4. CombinatoRx filed to raise up to $100M in an IPO. | ||||||||
5. Corus filed to raise up to $100M in an IPO. | ||||||||
6. Glycotex, a subsidiary of Novogen Ltd., filed to raise up to $39M in an IPO. | ||||||||
7. Predix filed to raise up to $70M in an IPO. | ||||||||
8. Prestwick filed to raise up to $74.75M in an IPO. | ||||||||
9. Reliant filed to raise up to $300M in an IPO. An undisclosed minority portion of the shares would be sold by an existing shareholder. | ||||||||
10. SGX filed to raise up to $80.5M in an IPO. | ||||||||
11. Valera filed to raise up to $74.75M in an IPO. | ||||||||
12. Voyager filed to raise up to $128.9M in an IPO. | ||||||||
13. CoTherix registered to sell 4M shares in a follow-on offering. The totals do not include 500,000 shares being offered by an existing shareholder. The value is based on the Sept. 20 closing price. | ||||||||
14. Panacos proposed on Sept. 28 selling 8M shares from existing shelf registration statements. The value is based on the Sept. 27 closing price. | ||||||||
15. Intarcia cited market conditions in withdrawing its proposed $86.25M IPO. | ||||||||
16. GTx said on Set. 15 it planned to sell 5M shares from a shelf registration. It said on Sept. 23 it was delaying the offering due to market conditions. | ||||||||