| 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. | ||||||