Underwriter Biotechnology CompanyDate pricedOffering price per share**9/14/07 Share PriceOffering Gross (M)**After-Market Performance (%)

AG Edwards SecuritiesBioMimetic Therapeutics Inc. (BMTI) 2/9$17.15$13.60$43.2-21%
La Jolla Pharmaceutical Co. (LJPC) 3/30$6$4.59$40.12-24%
Molecular Insight Pharmaceuticals Inc. (MIPI) (IPO)2/2$14$7$70-50%
Allen & Co. LLCJavelin Pharmaceuticals Inc. (AMEX:JAV) 5/11$6$5.29$42.6-12%
Bank of America SecuritiesAcadia Pharmaceuticals Inc. (ACAD) (co-lead)4/5$15.50$15.38$102.3-1%
Acorda Therapeutics Inc. (ACOR) (co-lead)6/8$18.50$17.30$77.48-6%
Allos Therapeutics Inc. (ALTH) 1/30$6$4.49$54-25%
Array BioPharma Inc. (ARRY) (co-lead)5/2$13$12.76$91-2%
Biodel Inc. (BIOD) (co-lead; IPO)5/11$15$18.95$86.25+26%
Eurand International SpA (EURX) (IPO)5/17$16$14.55$112-9%
Onyx Pharmaceuticals Inc. (ONXX) 6/21$28$40.85$185+46%
Pharmasset Inc. (VRUS) (co-lead; IPO)4/27$9$12.08$45+34%
Pharmion Corp. (PHRM) (co-lead)5/11$30$42.26$138+41%
Vanda Pharmaceuticals Inc. (VNDA)1/19$27.29$15.01$120.1-45%
Bear, Stearns & Co. AMAG Pharmaceuticals Inc.(AMAG) (co-lead) (formerly Advanced Magnetics Inc.) 5/23$65.14$55.18 $162.9-15%
Bruker BioSciences Corp. (BRKR) (co-lead)2/13$7.10$8.09$17.96+14%
Cardiome Pharma Corp. (CRME) (co-lead)1/18$10.50$8.74$96.6-17%
Clinical Data Inc. (CLDA) (lead)7/24$22$34.50$75.9+57%
Synta Pharmaceuticals Corp. (SNTA) (co-lead; IPO)2/6$10$7.45$50-26%
Canaccord AdamsCardiome Pharma Corp. (CRME)1/18$10.50$8.74$96.6-17%
Pharmacopeia Inc. (PCOP) 5/2$5$5.68$40+14%
Caris & Co.Response Genetics Inc.(RGDX) (IPO)6/5$7$4.51$21-36%
C.E. Unterberg, TowbinRosetta Genomics Ltd. (ROSG) (lead; IPO)2/27$7$5.65$30.2-19%
Sunesis Pharmaceuticals Inc. (SNSS) 5/24$4.43$2.77$21-37%
CIBC World Markets3SBIO Inc. (SSRX) (IPO)2/7$16$11.12$115.2-31%
CIBC World MarketsArQule Inc. (ARQL) (co-lead)6/14$7.75$7.74$58.19-0.1%
Cardiome Pharma Corp. (CRME) (co-lead)1/18$10.50$8.74$96.6-17%
Cypress Bioscience Inc. (CYPB) (co-lead)5/30$15.50$14.48$72.9-7%
Pharmacopeia Inc. (PCOP) (lead)5/2$5$5.68$40+14%
Poniard Pharmaceuticals Inc. (PARD) (co-lead)4/25$6.33$5.56$74.7-12%
Repros Therapeutics Inc. (RPRX) (co-lead)1/31$13.75$10.28$35.9-25%
Sirtris Pharmaceuticals Inc. (SIRT) (IPO)5/23$10$14.39$69+44%
Sucampo Pharmaceuticals Inc. (SCMP)(IPO)8/3$11.50$13.25$35.94+15%
Cowen & Co.Altus Pharmaceuticals Inc. (ALTU) 4/19$14.75$10.81$88.5-27%
Pharmion Corp. (PHRM) (co-lead)5/11$30$42.26$138+41%
Sucampo Pharmaceuticals Inc. (SCMP) (lead; IPO)8/3$11.50$13.25$35.94+15%
Sunesis Pharmaceuticals Inc. (SNSS) 5/24$4.43$2.77$21-37%
Credit Suisse SecuritiesJazz Pharmaceuticals Inc. (JAZZ) (IPO)6/1$18$13.12$108-27%
Credit Suisse SecuritiesRigel Pharmaceuticals v5/3$9.75$9.77$48.8+0.2%
Dawson James SecuritiesA.P. Pharma Inc. (APPA) 6/14$1.65$2.35$40.24+42%
Deutsche Bank SecuritiesAcadia Pharmaceuticals Inc. (ACAD) (co-lead)4/5$15.50$15.38$102.3-1%
Acorda Therapeutics Inc. (ACOR) (co-lead)6/8$18.50$17.30$77.48-6%
AMAG Pharmaceuticals Inc. (AMAG) (formerly Advanced Magnetics Inc.)5/23$65.14$55.18$162.9-15%
BioMimetic Therapeutics Inc. (BMTI) (co-lead)2/9$17.15$13.60$43.2-21%
Dyax Corp. (DYAX)7/13$3.67$3.97$44.4+8%
Eurand International SpA (EURX) (co-lead; IPO)5/17$16$14.55$112-9%
First Albany CapitalBioMimetic Therapeutics Inc. (BMTI) 2/9$17.15$13.60$43.2-21%
Fortis SecuritiesAcorda Therapeutics Inc. (ACOR)6/8$18.50$17.30$77.48-6%
ArQule Inc. (ARQL) 6/14$7.75$7.74$58.19-0.1%
Javelin Pharmaceuticals Inc. (AMEX:JAV) 5/11$6$5.29$42.6-12%
Friedman, Billings, RamseyPharmion Corp. (PHRM) 5/11$30$42.26$120+41%
HSBC Securities (USA) Inc.Pharmion Corp. (PHRM) 5/11$30$42.26$120+41%
I-Bankers SecuritiesImaRx Therapeutics Inc. (IMRX) (IPO)7/25$5$4.05$15-19%
Jefferies & Co.AMAG Pharmaceuticals Inc. (AMAG) (formerly Advanced Magnetics Inc.)5/23$65.14$55.18$162.9-15%
Array BioPharma Inc. (ARRY) 5/2$13$12.76$91-2%
Cypress Bioscience Inc. (CYPB) (co-lead)5/30$15.50$14.48$72.9-7%
Molecular Insight Pharmaceuticals Inc. (MIPI) (co-lead; IPO)2/2$14$7$70-50%
Optimer Pharmaceuticals Inc. (OPTR) (co-lead; IPO)2/9$7$8.07$49+15%
JMP Securities LLCAcadia Pharmaceuticals Inc. (ACAD) 4/5$15.50$15.38$102.3-1%
Allos Therapeutics Inc. (ALTH) 1/30$6$4.49$54-25%
Genomic Health Inc. (GHDX) 5/22$15.50$20.14$46.5+30%
Optimer Pharmaceuticals Inc. (OPTR) (IPO)2/9$7$8.07$49+15%
Orexigen Therapeutics Inc. (OREX) (IPO)4/26$12$13.94$97+16%
Pharmasset Inc. (VRUS) (IPO)4/27$9$12.08$45+34%
JMP Securities LLCSirtris Pharmaceuticals Inc. (SIRT) (IPO)5/23$10$14.39$69+44%
JP Morgan SecuritiesAmicus Therapeutics Inc. (FOLD) (IPO)5/31$15$13.20$75-12%
Array BioPharma Inc. (ARRY) (co-lead)5/2$13$12.76$91-2%
Dyax Corp. (DYAX)7/13$3.67$3.97$44.4+8%
Genomic Health Inc. (GHDX) (co-lead)5/22$15.50$20.14$46.5+30%
Helicos BioSciences Corp. (HLCS) (co-lead; IPO)5/24$9$8.47$48.6-6%
Javelin Pharmaceuticals Inc. (AMEX:JAV) (lead)5/11$6$5.29$42.6-12%
Myriad Genetics Inc. (MYGN) (lead)2/8$35.90$47.10$107.7+31%
Onyx Pharmaceuticals Inc. (ONXX) 6/21$28$40.85$185+46%
Orexigen Therapeutics Inc. (OREX) (co-lead; IPO)4/26$12$13.94$97+16%
Sirtris Pharmaceuticals Inc. (SIRT) (lead; IPO)5/23$10$14.39$69+44%
Vanda Pharmaceuticals Inc. (VNDA) (co-lead)1/19$27.29$15.01$120.1-45%
Lazard Capital Markets LLCAcorda

Therapeutics Inc. (ACOR)

6/8$18.50$17.30$77.48-6%
Amicus Therapeutics Inc. (FOLD) (IPO)5/31$15$13.20$75-12%
Clinical Data Inc. (CLDA) 7/24$22$34.50$75.9+57%
Dyax Corp. (DYAX)7/13$3.67$3.97$44.4+8%
Eurand International SpA (EURX) (IPO)5/17$16$14.55$112-9%
NeurogesX Inc. (NGSX) (IPO)5/2$11$9.41$44-14%
Poniard Pharmaceuticals Inc. (PARD) (co-lead)4/25$6.33$5.56$74.7-12%
Synta Pharmaceuticals Corp. (SNTA) (IPO)2/6$10$7.45$50-26%
Leerink Swann & Co.Altus Pharmaceuticals Inc. (ALTU) 4/19$14.75$10.81$88.5-27%
ArQule Inc. (ARQL) 6/14$7.75$7.74$58.19-0.1%
Cardiome Pharma Corp. (CRME) 1/18$10.50$8.74$96.6-17%
Biodel Inc. (BIOD) (IPO)5/11$15$18.95$86.25+26%
Helicos BioSciences Corp. (HLCS) (IPO)5/24$9$8.47$48.6-6%
Javelin Pharmaceuticals Inc. (AMEX:JAV) 5/11$6$5.29$42.6-12%
Orexigen Therapeutics Inc. (OREX) (IPO)4/26$12$13.94$97+16%
Leerink Swann & Co.Poniard Pharmaceuticals Inc. (PARD) 4/25$6.33$5.56$74.7-12%
Sucampo Pharmaceuticals Inc. (SCMP (IPO)8/3$11.50$13.25$35.94+15%
Lehman BrothersAcadia Pharmaceuticals Inc. (ACAD) (co-lead)4/5$15.50$15.38$102.3-1%
Eurand International SpA (EURX) (co-lead; IPO)5/17$16$14.55$112-9%
Genomic Health Inc. (GHDX) (co-lead)5/22$15.50$20.14$46.5+30%
Jazz Pharmaceuticals Inc. (JAZZ) (co-lead; IPO)6/1$18$13.12$108-27%
Rigel Pharmaceuticals Inc. (RIGL) (co-lead)5/3$9.75$9.77$48.8+0.2%
Sunesis Pharmaceuticals Inc. (SNSS) (lead)5/24$4.43$2.77$21-37%
Synta Pharmaceuticals Corp. (SNTA) (co-lead; IPO)2/6$10$7.45$50-26%
Maxim Group LLCImaRx Therapeutics Inc. (IMRX) (lead; IPO)7/25$5$4.05$15-19%
Response Genetics Inc. (RGDX) (lead; IPO)6/5$7$4.51$21-36%
MDB Capital Group LLCMediciNova Inc. (MNOV) (lead)1/29$12$6.79$12-43%
Mercer Capital Ltd.NeoStem Inc. (AMEX:NBS) (lead)8/14$4.96$4.82$6.3-3%
Merrill Lynch & Co.Alexza Pharmaceuticals Inc. (ALXA) (co-lead)4/27$10.25$7.88$70.73-23%
Amicus Therapeutics Inc. (FOLD) (co-lead; IPO)5/31$15$13.20$75-12%
Allos Therapeutics Inc. (ALTH) (lead)1/30$6$4.49$54-25%
Altus Pharmaceuticals Inc. (ALTU) (co-lead)4/19$14.75$10.81$88.5-27%
Onyx Pharmaceuticals Inc. (ONXX) (co-lead)6/21$28$40.85$185+46%
Orexigen Therapeutics Inc. (OREX) (co-lead; IPO)4/26$12$13.94$97+16%
Merriman Curhan Ford & Co.A.P. Pharma Inc. (APPA) (lead)6/14$1.65$2.35$40.24+42%
Aradigm Corp. (OTC BB:ARDM)1/25$0.95$1.35$36.1+42%
Pharmacopeia Inc. (PCOP) 5/2$5$5.68$40+14%
Montgomery & Co.Synta Pharmaceuticals Corp. (SNTA) (IPO)2/6$10$7.45$50-26%
Morgan StanleyAMAG Pharmaceuticals Inc. (AMAG) (co-lead) (formerly Advanced Magnetics Inc.)5/23$65.14$55.18$162.9-15%
Alexza Pharmaceuticals Inc. (ALXA) (co-lead)4/27$10.25$7.88$70.73-23%
Altus Pharmaceuticals Inc. (ALTU) (co-lead)4/19$14.75$10.81$88.5-27%
Amicus Therapeutics Inc. (FOLD) (co-lead; IPO)5/31$15$13.20$75-12%
Biodel Inc. (BIOD) (co-lead; IPO)5/11$15$18.95$86.25+26%
Jazz Pharmaceuticals Inc. (JAZZ) (co-lead; IPO)6/1$18$13.12$108-27%
NeurogesX Inc. (NGSX) (lead; IPO)5/2$11$9.41$44-14%
Onyx Pharmaceuticals Inc. (ONXX) (co-lead)6/21$28$40.85$185+46%
Vanda Pharmaceuticals Inc. (VNDA) (co-lead)1/19$27.29$15.01$120.1-45%
Natexis Bleichroeder Inc.Biodel Inc. (BIOD) (IPO)5/11$15$18.95$86.25+26%
Jazz Pharmaceuticals Inc. (JAZZ) (IPO)6/1$18$13.12$108-27%
Vanda Pharmaceuticals Inc. (VNDA)1/19$27.29$15.01$120.1-45%
Needham & Co.La Jolla Pharmaceutical Co. (LJPC) (lead)3/30$6$4.59$40.12-24%
Oppenheimer & Co.Molecular Insight Pharmaceuticals Inc. (MIPI) (IPO)2/2$14$7$70-50%
Rosetta Genomics Ltd. (ROSG) (IPO)2/27$7$5.65$30.2-19%
Pacific Growth Equities3SBIO Inc. (SSRX) (IPO)2/7$16$11.12$115.2-31%
Alexza Pharmaceuticals Inc. (ALXA) 4/27$10.25$7.88$70.73-23%
Amicus Therapeutics Inc. (FOLD) (IPO)5/31$15$13.20$75-12%
Avigen Inc. (AVGN) (co-lead)4/26$6.94$5.36$27.6-23%
BioMimetic Therapeutics Inc. (BMTI) (co-lead)2/9$17.15$13.60$43.2-21%
Helicos BioSciences Corp. (HLCS) (IPO)5/24$9$8.47$48.6-6%
Javelin Pharmaceuticals Inc. (AMEX:JAV) 5/11$6$5.29$42.6-12%
NeurogesX Inc. (NGSX) (IPO)5/2$11$9.41$44-14%
Palatin Technologies Inc. (AMEX:PTN) (lead)2/16$2$0.49$27.5-76%
Pharmion Corp. (PHRM) 5/11$30$42.26$138+41%
Poniard Pharmaceuticals Inc. (PARD) 4/25$6.33$5.56$74.7-12%
Piper Jaffray & Co. Acadia Pharmaceuticals Inc. (ACAD) 4/5$15.50$15.38$102.3-1%
Acorda Therapeutics Inc. (ACOR)6/8$18.50$17.30$77.48-6%
Array BioPharma Inc. (ARRY) 5/2$13$12.76$91-2%
Genomic Health Inc. (GHDX) 5/22$15.50$20.14$46.5+30%
Optimer Pharmaceuticals Inc. (OPTR) (co-lead; IPO)2/9$7$8.07$49+15%
Sirtris Pharmaceuticals Inc. (SIRT) (IPO)5/23$10$14.39$69+44%
Punk Ziegel & Co.Aradigm Corp. (OTC BB:ARDM) (lead)1/25$0.95$1.35$36.1+42%
Genitope Corp. (GTOP) (lead)4/27$3.85$3.57$23.08-7%
Javelin Pharmaceuticals Inc. (AMEX:JAV) 5/11$6$5.29$42.6-12%
Repros Therapeutics Inc. (RPRX) (co-lead)1/31$13.75$10.28$35.9-25%
RBC Capital MarketsAlexza Pharmaceuticals Inc. (ALXA) 4/27$10.25$7.88$70.73-23%
Molecular Insight Pharmaceuticals Inc. (MIPI) (co-lead; IPO)2/2$14$7$70-50%
Rodman & RenshawAcadia Pharmaceuticals Inc. (ACAD) 4/5$15.50$15.38$102.3-1%
Acorda Therapeutics Inc. (ACOR)6/8$18.50$17.30$77.48-6%
ArQule Inc. (ARQL) 6/14$7.75$7.74$58.19-0.1%
Optimer Pharmaceuticals Inc. (OPTR) (IPO)2/9$7$8.07$49+15%
Sirtris Pharmaceuticals Inc. (SIRT) (IPO)5/23$10$14.39$69+44%
Susquehanna FinancialNeurogesX Inc. (NGSX) (IPO)5/2$11$9.41$44-14%
ThinkEquity

Partners LLC

AMAG Pharmaceuticals Inc. (AMAG) (formerly Advanced Magnetics Inc.)5/23$65.14$55.18$162.9-15%
Repros Therapeutics Inc. (RPRX)1/31$13.75$10.28$35.9-25%
Thomas Weisel PartnersEurand International SpA (EURX) (IPO)5/17$16$14.55$112-9%
Rigel Pharmaceuticals Inc. (RIGL) 5/3$9.75$9.77$48.8+0.2%
UBS Investment Bank3SBIO Inc. (SSRX) (lead; IPO)2/7$16$11.12$115.2-31%
ArQule Inc. (ARQL) (co-lead)6/14$7.75$7.74$58.19-0.1%
Avigen Inc. (AVGN) (co-lead)4/26$6.94$5.36$27.6-23%
Bruker BioSciences Corp. (BRKR) (co-lead)2/13$7.10$8.09$17.96+14%
Cypress Bioscience Inc. (CYPB) (co-lead)5/30$15.50$14.48$72.9-7%
Dyax Corp. (DYAX) (lead)7/13$3.67$3.97$44.4+8%
Helicos BioSciences Corp. (HLCS) (co-lead; IPO)5/24$9$8.47$48.6-6%
UBS Investment Bank
Nastech Pharmaceutical Co. Inc. (NSTK) (lead)1/18$13.20$13.74$42.9+4%
Pharmasset Inc. (VRUS) (co-lead; IPO)4/27$9$12.08$45+34%

Notes:
* The financings in this chart are for public offerings in the U.S. only. The data were compiled primarily from BioWorld Financial Watch's monthly financing charts covering the period from Jan. 1 to Aug. 31, 2007. Those charts were published on Feb. 12, March 5, April 9, May 7, June 11, July 9, Aug. 6 and Sept. 10, 2007. The gross proceed totals listed reflect only those shares sold by companies. They include money raised through overallotment options, when disclosed.

** All prices in U.S. dollars. Offering price per share is adjusted to reflect any post-offering splits. Unless otherwise noted, shares are traded on the Nasdaq exchange.

IPO = Initial Public Offering

AMEX = American Stock Exchange

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