| I. COMMENCED TRADING IN JANUARY | ||||||||
| 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 | ||||||||
| There were no initial public offerings that commenced in January. | ||||||||
| Total: $0M | ||||||||
| Number of IPOs in January: 0 | ||||||||
| Average value of January IPOs: $0 | ||||||||
| Number of IPOs in 2008: 0 | ||||||||
| Total raised in IPOs in 2008: $0M | ||||||||
| Average value of IPOs in 2008: $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)% |
| Orexigen Therapeutics Inc. (OREX)1 | 1/7/08 | 1/24/08 | 7S | $11 | 34 | Merrill Lynch & Co. Leerink Swann LLC (co-lead) JMP Securities LLC Lazard Capital Markets Canaccord Adams Inc. Natixis Bleichroeder Inc. |
$77 | $374 |
| Seattle Genetics Inc. (SGEN)2 | 12/11 | 1/18 | 11.5S | $9 | 79 | JP Morgan Securities UBS Investments (co-lead) RBC Capital Markets Needham & Co. LLC William Blair & Co. LLC |
$103.5 | $711 |
| Targacept Inc. (TRGT)3 | 7/20 | 1/17 | 4.37S | $7.07 | 24.9 | Deutsche Bank Sec. Lazard Capital Markets Oppenheimer & Co. Inc. Pacific Growth Equities |
$30.9 | $176.0 |
| Theratechnologies Inc. (Canada; TSX:TH)4 | 1/29 | 1/31 | 3.5S | C$8.50 ($8.48) |
N/A | BMO Capital Markets | C$29.8 ($29.7) |
N/A |
| Theravance Inc. (THRX)5 | 1/16 | 1/17 | Notes | $25.87 per share | N/A | Merrill Lynch & Co. Goldman, Sachs & Co. |
$172.5 | N/A |
| Total: $413.6M | ||||||||
| Number of follow-on offerings in January: 5 | ||||||||
| Average value of January follow-ons: $82.72M | ||||||||
| Number of follow-on offerings in 2008: 5 | ||||||||
| Total raised in follow-ons in 2008: $413.6M | ||||||||
| Average value of follow-ons in 2008: $82.72M | ||||||||
| 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. | ||||||||
| TSX = Toronto Stock Exchange. | ||||||||
| 1 Orexigen's overallotment option: 1.05M shares. | ||||||||
| 2 Includes Seattle Genetics' overallotment option: 1.5M shares. | ||||||||
| 3 Includes Targacept's overallotment option: 570,000 shares. | ||||||||
| 4 Theratechnologies' overallotment option: 350,000 common shares. | ||||||||
| 5 Includes Theravance's overallotment option: $22.5M in notes. | ||||||||
| 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 | ||||||
| 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 |
| Archemix Corp. (ARCH) | 7/25/07 | N/A | N/A | N/A | Banc of America Securities Bear, Stearns & Co. Inc. Cowen and Co. |
$69 |
| Bayhill Therapeutics Inc. (BHTX) | 1/9/08 | N/A | N/A | N/A | Pacific Growth Equities LLC Lazard Capital Markets Merriman Curhan Ford & Co. Punk, Ziegel & Co. |
$86 |
| Bioheart Inc. (BHRT)1 | 2/13/07 | 1S | $6-$8 | 14.35 | Merriman, Curhan Ford & Co. Dawson James Securities (co-lead) |
$7 |
| Biolex Inc. (BLEX) | 8/14/07 | N/A | N/A | N/A | Lehman Brothers Inc. Deutsche Bank Securities (co-lead) Leerink Swann & Co. Inc. |
$70 |
| 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 Equities Leerink Swann LLC |
$75 |
| Insys Therapeutics Inc. (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 |
| Light Sciences Oncology Inc. (LSON) | 4/21/06 | 5.25S | $14-$16 | 18.5 | Cowen & Co. Wachovia Securities (co-lead) Jefferies & Co. Thomas Weisel Partners |
$78.75 |
| MonoSol Rx Inc. (MSRX) | 5/14/07 | 4S | $16-$18 | 15 | Cowen and Co. CIBC World Markets Susquehanna Financial |
$68 |
| Omeros Corp. (OMER) | 1/10/08 | N/A | N/A | N/A | Deutsche Bank Securities Pacific Growth Equities Leerink Swann LLC Needham & Co. LLC |
$115 |
| Peplin Inc. (PLIN) | 8/10/07 | N/A | N/A | N/A | Merrill Lynch & Co. Cowen & Co. LLC Thomas 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 Pharmaceuticals Corp. (RXIP; unit of CytRx Corp.) | 10/30/07 | 10.8S | N/A | N/A | N/A | N/A |
| Talecris Biotherapeutics 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 | ||||||
| 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 |
| Rigel Pharmaceuticals Inc. (RIGL)3 | 1/24/08 | 4S | $25.46 | 35 | Credit Suisse Sec. | $101.8 |
| WITHDRAWN AND POSTPONED | ||||||
| Merrion Pharmaceuticals Ltd. (MERR)4 | 4/3/07 1/3/07 |
4S | $6-$7 | 15 | Punk, Ziegel & Co. Goodbody Stockbrokers Stanford Group Co. |
$26 |
| 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. | ||||||
| CDNX = Canadian Venture Exchange; NYSE = New York Stock Exchange; OTC BB = Over-the-Counter Bulletin Board; TSX = Toronto Stock Exchange. | ||||||
| 1 Bioheart's overallotment option: 150,000 shares. | ||||||
| 2 Biodel's overallotment option: 550,000 shares. | ||||||
| 3 Rigel's overallotment option: 600,000 shares. | ||||||
| 4 Merrion withdrew its proposed IPO, citing unfavorable market conditions. | ||||||