I. COMMENCED TRADING IN OCTOBER | ||||||||
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 | ||||||||
Genoptix Inc.(GXDX)1 | 8/1/07 | 10/30/07 | 4.3S | $17 | 15.6 | Lehman Brothers Banc of America Sec. Cowen and Co. |
$73.1 | $265.2 |
MAP Pharmaceuticals Inc. (MAPP)2 | 6/18/07 | 10/5/07 | 5.75S | $12 | 20 | Merrill Lynch & Co. Morgan Stanley (co-lead) Deutsche Bank Sec. |
$69 | $240 |
Pronova BioPharma (Norway; OSLO)3 | 10/11/07 | 10/11/07 | 25S | NOK23 ($4.20) | N/A | Carnegie (co-lead UBS (co-lead) |
NOK575 ($105) | N/A |
Targanta Therapeutics Corp. (TARG)4 | 5/14/07 | 10/10/07 | 5.75S | $10 | 21 | Credit Suisse Securities Cowen and Co. Lazard Capital Markets Leerink Swann and Co. |
$57.5 | $210 |
Total: $304.6M Number of IPOs in October: 4 Average value of October IPOs: $76.15 Number of IPOs in 2007: 36 Total raised in IPOs in 2007: $1,647.05M Average value of IPOs in 2007: $45.75M | ||||||||
FOLLOW-ON OFFERINGS | ||||||||
Ambrilia Biopharma Inc. (Canada; TSX:AMB)5 | 9/18/07 | 10/30/07 | 13U | C$1.25 | N/A | Canaccord Capital Dundee Securities Loewen, Ondaatje, McCutcheon |
C$16.3 ($16.9) | N/A |
Bionovo Inc. (BNVI)6 | 9/24/07 | 10/26/07 | 10S and 5W | $2.50 $3.50 | 76 | BMO Capital Markets Canaccord Adams (co-lead) Merriman Curhan Ford & Co. | $25 | $760 |
EpiCept Corp. (EPCT)7 | 10/10/07 | 10/10/07 | 4.26S and W | $1.88 | 42.2 | Rodman & Renshaw BMO Capital Markets |
$8 | $79.34 |
Neurobiological Technologies Inc. (NTII)8 | 8/13/07 | 10/30/07 | 21.8S | $2.75 | 26.5 | Merriman Curhan Ford Dawson James Securities | $60 | $73 |
Protalix Bio-Therapeutics Inc. (AMEX:PLX)9 | 10/5/07 | 10/25/07 | 10S | $5 | 75.7 | UBS Securities LLC CIBC World Markets | $50 | $378.5 |
Total: $159.9M Number of follow-on offerings in October: 5 Average value of October follow-ons: $31.98M Number of follow-on offerings in 2007: 47 Total raised in follow-ons in 2007: $2,729.98M Average value of follow-ons in 2007: $58.08M | ||||||||
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. AMEX = American Stock Exchange; TSX = Toronto Stock Exchange 1 Genoptix's overallotment option: 750,000 shares. 2 Includes MAP's overallotment option: 750,000 shares. 3 Pronova's IPO was conducted on the Oslo stock exchange and included a total of 116.5M shares, 25M of which were offered by the company. The underwriters have an overallotment option for an additional 10.6M shares. 4 Targanta's overallotment option: 862,500 shares. 5 Ambrilia's overallotment option: 1.9M units. 6 The warrants are to purchase shares at 10 cents each. Overallotment option: 15 percent of the offering. 7 EpiCept's offering included the sale of 4.26M shares and five-year warrants to buy about 2.13M shares at $1.88 each. 8 Neurobiological's overallotment option: 3.3M shares. 9 Protalix's overallotment option: 1.5M shares. | ||||||||
II. FILED AND PENDING | ||||||||
INITIAL OFFERINGS | ||||||||
Company (Symbol)# | Date Filed | Date Comm. | Shares/Units (M) | Price | Shares Out (M)@ | Lead, Other Underwriters | Gross (US$M) | Post-Offering Market Cap (M)% |
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 | ||
ARYx Therapeutics Inc. (ARYX)1 |
8/31/07 | 5S | $14-$16 | 17.5 | Morgan Stanley & Co. Inc. CIBC World Markets Corp. Jefferies & Co. Inc. Leerink Swann & Co. Inc. |
$75 | ||
Bioheart Inc. (BHRT)2 | 2/13/07 | 3.575S | $14-$16 | 16.9 | BMO Capital Markets Corp. Janney Montgomery Scott (co-lead) Merriman Curhan Ford & Co. | $53.6 | ||
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 | ||
Elixir Pharmaceuticals Inc. (ELXR) | 9/24/07 | N/A | N/A | 143.5 | Credit Suisse Securities LLC Pacific Growth Equities Leerink Swann LLC | $86 | ||
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 | ||
Merrion Pharmaceuticals Ltd. (MERR)3 |
4/3/07 | 4S | $6-$7 | 15 | Punk, Ziegel & Co. Goodbody Stockbrokers Stanford Group Co. |
$26 | ||
MonoSol Rx Inc. (MSRX) | 5/14/07 | 4S | $16-$18 | N/A | Cowen and Co. CIBC World Markets Susquehanna Financial |
$68 | ||
Nanoshere Inc. (NSPH) | 8/13/07 | N/A | N/A | N/A | Credit Suisse Piper Jaffray Leerink Swann & Co. Allen & Co. LLC |
$100 | ||
NovaBay Pharmaceuticals Inc. (AMEX:NBY; TSX:NBY)4 |
2/15/07 | 5S | $4-$6 | 21.1 | Dundee Securities Desjardins Sec. International Blackmont Capital Dawson James Sec. |
$25 | ||
Peplin Inc. (PLIN)5 | 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 | ||
Precision Therapeutics Inc. (PRCN) | 8/24/07 | N/A | N/A | N/A | JP Morgan Piper Jaffray (co-lead) JMP Securities |
$80.5 | ||
Reliant Pharmaceuticals Inc. (NYSE:RRX) | 8/10/07 | 11.7S | $25-$27 | N/A | Goldman, Sachs & Co. Merrill Lynch & Co. (co-lead) Bank of America Securities Lazard Capital Markets |
$304.2 | ||
RXi Pharmaceuticals Corp. (RXIP; unit of CytRx Corp.)6 | 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 | ||
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 | ||||||||
Arena Pharmaceuticals Inc. (ARNA)7 | 10/22/07 | 10S | $10.54 | 71.2 | CIBC World Markets UBS Investment Bank (co-lead) | $105.4 | ||
Bioxel Pharma Inc. (Canada; CDNX:BIP)8 | 7/9/07 | N/A | N/A | N/A | Paradigm Capital Laurentian Bank Sec. | N/A | ||
Chemokine Therapeutics Corp. (Canada; TSX:CTI; OTC BB: CHKT) | 5/30/07 | N/A | N/A | N/A | GMP Securities | $25 | ||
MediciNova Inc. (MNOV)9 | 10/25/07 | 6S | $6.10 | N/A | Pacific Growth Equities HSBC Punk Ziegel & Co. Rodman & Renshaw |
$36.6 | ||
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 ARYx's overallotment option: 750,000 shares. 2 Bioheart's overallotment option: 536,250 shares. 3 Merrion plans to list American depositary shares on Nasdaq and ordinary shares in a secondary listing on the Irish Enterprise Exchange, both under the ticker "MERR." 4 NovaBay is seeking a dual listing on the American and Toronto stock exchanges. 5 Peplin Ltd., of Australia, established the U.S. subsidiary to facilitate an IPO. 6 RXi filed to become an independent entity with a public listing. 7 Arena's overallotment option: 1.5M shares. 8 Bioxel filed for a Canadian offering of units consisting of one common share and one-half of a common share purchase warrant. 9 MediciNova's overallotment option: 900,000 shares. |