I. COMMENCED TRADING IN JANUARY | ||||||||
Company |
Date |
Date |
Shares/ |
Price | Shares |
Lead, Other |
Gross |
Post- |
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: $0M | ||||||||
Number of IPOs in 2007: 0 | ||||||||
Total raised in IPOs in 2007: $0M | ||||||||
Average value of IPOs in 2007: $0M | ||||||||
FOLLOW-ON OFFERINGS | ||||||||
Company |
Date |
Date |
Shares/ |
Price | Shares |
Lead, Other |
Gross |
Post-Offering |
Allos |
1/30 |
1/30 |
9S |
$6 |
65.7 |
Merrill Lynch & Co., Banc of America (Co-lead), JMP Securities LLC |
$54 |
$394.2 |
Aradigm Corp. |
10/24/06 |
1/25 |
38S |
$0.95 |
49.5 |
Punk, Ziegel & Co., Merriman Curhan Ford & Co. |
$36.1 |
$47 |
Cardiome |
1/18 |
1/18 |
9.2S |
$10.50 |
62.8 |
Bear, Stearns & Co., CIBC World Markets (co-lead), Canaccord Adams Leerink Swann & Co. |
$96.6 |
$659.4 |
MediciNova Inc. |
1/29 |
1/29 |
1S |
$12 |
11.3 |
MDB Capital Group LLC |
$12 |
$135.6 |
Nastech |
1/18 |
1/18 |
3.25S |
$13.20 |
25.25 |
UBS Investment Bank |
$42.9 |
$333.3 |
NicOx SA |
1/24** |
1/24** |
N/A |
N/A |
N/A |
Merrill Lynch Internat, UBS Investment Bank, Lazard Natixis, Piper Jaffray |
€130 (US$168.4) |
N/A |
Repros Therapeutics Inc. (RPRX)7 |
1/31/07 |
1/31/07 |
2.6S |
$13.75 |
12.8 |
CIBC World Markets, Punk, Ziegel & Co. (Co-lead), ThinkEquity Partners LLC |
$35.9 |
$176 |
Vanda |
1/19 |
1/19 |
4.4S |
$27.29 |
26.53 |
JPMorgan Securities, Morgan Stanely (co- lead), Banc of America Securities, Natexis Bleichroeder Inc. |
$120.1 |
$724 |
OVERALLOTMENT OPTIONS | ||||||||
Omrix Bio- |
12/4/06 |
1/12/07 |
0.24S |
$32 |
16.6 |
UBS Investment Bank, Citigroup (co-lead), CIBC World Markets, Rodman & Renshaw |
$7.5 |
$531.2 |
Total: $573.5M | ||||||||
Number of follow-on offerings in January: 8 | ||||||||
Average value of January follow-ons: $71.69M | ||||||||
Number of follow-on offerings in 2007: 8 | ||||||||
Total raised in follow-ons in 2007: $573.5M | ||||||||
Average value of follow-ons in 2007: $71.69M | ||||||||
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. | ||||||||
** Denotes the date the item ran in BioWorld International. | ||||||||
Currency conversions are based on exchange rates at the time of the deal. | ||||||||
1. Allos' offering was expected to include a 3.3-million share purchase from Baker Brothers Life Sciences LP and affiliated Funds. | ||||||||
2. Aradigm's offering includes the exercise of an overallotment option. | ||||||||
3. Cardiome's offering includes the exercise of an underwriters option to purchase an additional 1.2M common shares. | ||||||||
4. MediciNova's sole underwriter has a 150,000-share overallotment option. | ||||||||
5. Nastech has granted the underwriter an option to purchase up to an additional 487,500 shares to cover over-allotments in the offering, if any. | ||||||||
6. NicOx is raising $168.4M through the sale of stock that is open to the public in France only and is a transaction that gives existing shareholders preferential rights. | ||||||||
7. Repros' underwriters have an overallotment option for 390,000 shares. | ||||||||
8. Vanda's offering includes the underwriters' option to purchase up to 570,000 additional shares to cover overallotments. | ||||||||
9. Omrix raised an additional $7.5M through the exercise of the full overallotment option to purchase 235,109 shares. This brings the total number of shares offered to 1.7 million and the gross proceeds to about $55.5 million. | ||||||||
II. FILED AND PENDING |
Company |
Date Filed | Shares/ |
Price Range | Shares Out (M)@ | Lead, Other Underwriters | Value (M) |
INITIAL OFFERINGS | ||||||
3SBIO Inc. (SSRX)1 |
1/22/07 |
7.2S |
$12-$14 |
N/A |
UBS Investment Bank, CIBC World Markets, Pacific Growth Equities |
$93.6 |
Cellectis SA |
12/26/06 |
2.38S |
€8.90 to €10.25 |
N/A |
N/A |
$25 |
Light Sciences |
4/21/06 |
5.25S |
$14-$16 |
N/A |
Cowen & Co., Wachovia Securities (co-lead), Jefferies & Co. Thomas Weisel Partners |
$78.75 |
Molecular |
11/8/05 |
N/A |
N/A |
N/A |
Piper Jaffray & Co., Cowen & Co. (co-lead), Oppenheimer & Co., Roth Capital Partners |
$57.5 |
OncoGenex |
12/13/06 |
N/A |
N/A |
N/A |
RBC Capital Markets, Needham & Co., Lazard Capital Markets, Canaccord Adams, Susquehanna Financial Group |
$48 |
Optimer |
11/9/06 |
N/A |
N/A |
N/A |
Piper Jaffray & Co., Jefferies & Co. (co-lead), JMP Securities, Rodman & Renshaw |
$86.25 |
Orexigen |
12/16/06 |
N/A |
N/A |
N/A |
Merrill Lynch & Co., JP Morgan Securities (co-lead), JMP Securities, Leerink Swann & Co. |
$86.25 |
Perlegen |
4/10/06 |
N/A |
N/A |
N/A |
Lehman Brothers, Deutsche Bank Securities (co-lead), Piper Jaffray & Co., Allen & Co. |
$115 |
Pharmasset |
5/9/06 |
N/A |
N/A |
N/A |
Banc of America Securities, UBS Investment Bank (co-lead), JMP Securities |
$75 |
PTC |
3/31/06 |
N/A |
N/A |
N/A |
Morgan Stanley & Co., JP Morgan Securities (co-lead), Pacific Growth Equities |
$86.25 |
Rosetta |
9/7/06 |
3S |
$11-$13 |
N.A |
C.E. Unterberg, Towbin, Oppenheimer & Co., Maxim Group |
$36 |
Sucampo |
6/19/06 |
N/A |
N/A |
N/A |
Banc of America Securities, Deutsche Bank Securities (co- ead), Leerink Swann & Co. |
$86.25 |
Synta |
11/22/06 |
N/A |
N/A |
N/A |
Bear, Stearns & Co., Lehman Brothers (co-lead), Lazard Capital Markets, Montgomery & Co. |
$115 |
FOLLOW-ON OFFERINGS | ||||||
Neurochem Inc. |
1/18/07 |
NA |
NA |
N/A |
N/A |
$102 |
SemBioSys |
1/16/07 |
N/A |
N/A |
N/A |
Raymond James Ltd. |
C$20 |
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. | ||||||
N/A = Not available, applicable or reported. | ||||||
TSX = Toronto Stock Exchange. | ||||||
1. 3SBIO filed for its IPO of 7.2M American Depositary shares, representing 50.3M ordinary shares. If priced at $13, the midpoint of the price range, the company would raise $93.6M gross. | ||||||
2. Cellectis launched its IPO on the Alternext market of the Paris Euronext stock exchange. It was expected to close Feb. 5. | ||||||
3. Light Sciences Oncology filed to raise up to $86.25M in an IPO. The shares and price range were estimated in September. The value is based on the midpoint of those estimates. | ||||||
4. Molecular Insight filed to raise up to $57.5M in an IPO. | ||||||
5. OncoGenex filed to raise up to $48M in an IPO in both the U.S. and Canada. | ||||||
6. Optimer filed to raise up to $86.25M in an IPO. | ||||||
7. Orexigen filed to raise up to $86.25M in an IPO. | ||||||
8. Perlegen filed to raise up to $115M in an IPO. | ||||||
9. Pharmasset filed to raise up to $75M in an IPO. | ||||||
10. PTC Therapeutics filed to raise up to $86.25M in an IPO. | ||||||
11. Rosetta filed to raise $36M in an IPO on Nasdaq, based on the midpoint of the estimated price range. | ||||||
12. Sucampo filed to raise up to $86.25M in an IPO. | ||||||
13. Synta filed to raise up to $115M in an IPO. A previous IPO attempt was postponed in 2005. | ||||||
14. Neurochem filed registration statements for $102M in Canada and the U.S. including the resale of up to $60M of its common shares and the re4sale of 6% senior convertible notes. | ||||||
15. SemBioSys Genetics filed a preliminary prospectus in Canada to offer common stock; if gross porceeds exceed C$20M then certain existing shareholders would be able to sell shares in a secondary offering. |