I. COMMENCED TRADING IN JULY
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
ImaRx Therapeutics Inc. (IMRX)1 5/4 7/25 3S $5 10 Maxim Group LLC
I-Bankers Securities
$15 $50
Vivalis (France; Euronext:VLS) 6/27 7/11** 4.37S E10.63 N/A Natixis E46.4
($63.96)
N/A
Total: $78.96M
Number of IPOs in July: 2
Average value of July IPOs: $39.48
Number of IPOs in 2007: 30
Total raised in IPOs in 2007: $1,527.26M
Average value of IPOs in 2007: $50.9M
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)%

Clinical Data Inc. (CLDA)2 7/10/07 7/24/07 3.45S $22 13.95 Bear, Stearns & Co. Inc.
Lazard Capital Markets
$75.9 $306.9
Dyax Corp. (DYAX)3 7/9/07 7/13/07 12.1S $3.67 60.3 UBS Investment Bank
Deutsche Bank Sec.
J.P. Morgan Securities
Lazard Capital Markets
$44.4 $221.3
OVERALLOTMENTS
Acorda Therapeutics Inc. (ACOR) 6/5/07 7/6/07 0.56S $18.50 28.3 Bank of America Sec.
Deutsche Bank (co-lead)
Lazard Capital
Piper Jaffray
Fortis Securities
Rodman & Renshaw
$10.36 $523.55
ArQule Inc. (ARQL)4 6/6/07 7/19/07 0.502S $7.75 43.3 UBS Investment Bank
CIBC World Markets (co-lead)
Leerink Swann & Co.
Fortis Securities LLC
Rodman & Renshaw LLC
$3.89 $335.58
Total: $134.55M
Number of follow-on offerings in July: 2
Average value of July follow-ons: $67.275M
Number of follow-on offerings in 2007: 38
Total raised in follow-ons in 2007: $2,474.40M
Average value of follow-ons in 2007: $65.12M

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.
TASE = Tel Aviv Stock Exchange.
1 ImaRx's overallotment option: 450,000 shares.
2 Includes Clinical Data's overallotment option: 450,000 shares.
3 Includes Dyax's overallotment option: 1.6M shares.
4 The exercise of ArQule's overallotment brings the total funds raised to $58.1M with the sale of 7.5M shares.
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
Archemix Corp. (ARCH) 7/25/07 N/A N/A N/A Banc of America Securities
Bear, Stearns & Co. Inc.
Cowen and Co.
$69
Bioheart Inc. (BHRT) 2/13/07 N/A N/A 21.5 BMO Capital Markets Corp.
Janney Montgomery Scott (co-lead)
Merriman Curhan Ford & Co.
$35
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
MAP Pharmaceuticals Inc. (MAPP) 6/18/07 N/A N/A N/A Merrill Lynch & Co.
Morgan Stanley (co-lead)
Deutsche Bank Sec.
$86.25
Merrion Pharmaceuticals Ltd. (MERR)1 4/3/07 N/A N/A N/A Punk, Ziegel & Co.
Goodbody Stockbrokers
Stanford Group Co.
$46
MonoSol Rx Inc. (MSRX) 5/14/07 N/A N/A N/A Cowen and Co.
CIBC World Markets
Susquehanna Financial
$86.25
NovaBay Pharmaceuticals Inc. (AMEX:NBY; TSX:NBY)2 2/15/07 N/A N/A 31.8 N/A $23
Sucampo Pharmaceuticals Inc. (SCMP) 6/19/06 3.8S $14-$16 N/A Cowen & Co.
CIBC World Markets
Leerink Swann & Co.
$57
Talecris Biotherapeutics Holdings Corp. (TLCR) 7/30/07 N/A N/A N/A Morgan Stanley
Goldman Sachs & Co.
J.P. Morgan
$1B
Targanta Therapeutics Corp. (TARG) 5/14/07 N/A N/A N/A Credit Suisse Securities
Cowen and Co.
Lazard Capital Markets
Leerink Swann and Co.
$86.25
FOLLOW-ON OFFERINGS
Bioxel Pharma Inc. (Canada; CDNX:BIP)3 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
Neurochem Inc. (NRMX) 1/18/07 N/A N/A N/A N/A $102
WITHDRAWN OR POSTPONED
Company (Symbol/Proposed Symbol)#* Date Filed/Date Pulled Shares/Units (M) Price Range Shares Out (M)@ Lead, Other Underwriters Value (M)

NovaCardia Inc. (NCAR)4 3/30/07
7/25/07
N/A N/A 88.1 J.P. Morgan Securities Inc.
Credit Suisse Securities (co-lead)
Pacific Growth Equities LLC
Albany Capital Inc.
$86.3


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.
AMEX = American Stock Exchange; OTC BB = Over-the-Counter Bulletin Board; TSX = Toronto Stock Exchange.
1 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."
2 NovaBay is seeking a dual listing on the American and Toronto stock exchanges.
3 Bioxel filed for a Canadian offering of units consisting of one common share and one-half of a common share purchase warrant.
4 NovaCardia's investors are gaining their exit through a $350M acquisition by Merck & Co. Inc., instead of the IPO.