Underwriter

Biotechnology
Company
(Symbol)

Date
Priced

Offering
Price Per
Share

12/31/06
Share
Price

Offering
Gross
(M)

After-Market
Performance
(%)

AG Edwards

BioMimetic Therapeutics Inc. (BMTI) (IPO)

5/12/06

$8

$13.19

$36.8

+65%

Ardour Capital
Investments

Metabolix Inc. (MBLX) (IPO)

11/17/06

$14

$18.94

$109.5

+35%

Banc of America
Securities

Acadia Pharmaceuticals Inc. (ACAD) (co-lead)

4/27/06

$12

$8.79

$59.4

-27%

Acorda Therapeutics Inc. (ACOR) (IPO; lead)

2/10/06

$6

$15.84

$36.5

+150%

Adolor Corp. (ADLR)

2/16/06

$25

$7.52

$143.8

-70%

Alnylam Pharmaceuticals Inc. (ALNY)(co-lead)

1/31/06

$13

$21.40

$66.5

+65%

Alnylam Pharmaceuticals Inc. (ALNY) (lead)

12/12/06

$22

$21.40

$103.4

-3%

Exelixis Inc. (EXEL)

10/5/06

$8.40

$9

$96.6

+7%

Labopharm Inc. (Canada; DDSS) (co-lead)

4/28/06

$8

$5.87

$101.2

-27%

Trubion Pharmaceuticals Inc. (TRBN) (IPO; co-lead)

10/18/06

$13

$18.01

$52

+39%

Valera Pharmaceuticals Inc. (VLRX) (IPO; co-lead)

2/2/06

$9

$8.10

$34.8

-10%

Vanda Pharmaceuticals Inc. (VNDA) (IPO; co-lead)

4/12/06

$10

$24.65

$59.6

+147%

Bear, Stearns & Co.

Alexion Pharmaceuticals Inc. (ALXN)

11/15/06

$43

$40.39

$148.4

-6%

Amylin Pharmaceuticals Inc. (AMLN)

3/30/06

$46.50

$36.07

$534.8

-22%

Celgene Corp. (CELG)

11/3/06

$51.60

$57.53

$1,032

+11%

Novacea Inc. (NOVC) (IPO; co-lead)

5/10/06

$6.50

$5.66

$44.9

-13%

Brean Murray,
Carret & Co.

Genitope Corp. (GTOP)

2/7/06

$8.50

$3.52

$62.6

-59%

Sirna Therapeutics Inc. (RNAI)

5/24/06

$5

$13**

$51.8

+160%

Canaccord Adams

Acadia Pharmaceuticals Inc. (ACAD)

4/27/06

$12

$8.79

$59.4

-27%

Labopharm Inc. (Canada; DDSS)

4/28/06

$8

$5.87

$101.2

-27%

C.E. Unterberg,
Towbin

Insmed Inc. (INSM) (co-lead)

3/10/06

$2

$0.88

$46

-56%

CIBC World
Markets

Arena Pharmaceuticals Inc. (ARNA) (co-lead)

1/27/06

$16.90

$12.91

$179.8

-24%

Arena Pharmaceuticals Inc. (ARNA) (co-lead)

12/8/06

$13.21

$12.91

$174.7

-2%

Achillion Pharmaceuticals Inc. (ACHN) (IPO; co-lead)

10/26/06

$11.50

$16.11

$59.5

+40%

Indevus Pharmaceuticals Inc. (IDEV)

6/28/06

$4.65

$7.10

$37.43

+53%

MannKind Corp. (MNKD)

12/7/06

$17.42

$16.49

$400.7

-5%

Omrix Bio-pharmaceuticals Inc. (OMRI) (IPO; co-lead)

4/20/06

$10

$30.26

$39.6

+203%

Omrix Bio-pharmaceuticals Inc. (OMRI)

12/15/06

$32

$30.26

$48

-5%

SGX Pharmaceuticals Inc. (SGXP) (IPO; co-lead)

1/31/06

$6

$3.50

$24.9

-42%

Sirna Therapeutics Inc. (RNAI)

5/24/06

$5

$13**

$51.8

+160%

Targacept Inc. (TRGT) (IPO)

4/12/06

$9

$9.05

$45

+1%

Citigroup

Celgene Corp. (CELG)

11/3/06

$51.60

$57.53

$1,032

+11%

Omrix Bio-pharmaceuticals Inc. (OMRI) (co-lead)

12/15/06

$32

$30.26

$48

-5%

Cowen & Co.

Achillion Pharmaceuticals Inc. (ACHN) (IPO; co-lead)

10/26/06

$11.50

$16.11

$59.5

+40%

Acorda Therapeutics Inc. (ACOR) (IPO)

2/10/06

$6

$15.84

$36.5

+150%

Affymax Inc. (AFFY) (IPO)

12/15/06

$25

$34.04

$106.4

+36%

Alexion Pharmaceuticals Inc. (ALXN)

11/15/06

$43

$40.39

$148.4

-6%

Alnylam Pharmaceuticals Inc. (ALNY)

1/31/06

$13

$21.40

$66.5

+65%

Altus Pharmaceuticals Inc. (ALTU) (IPO)

1/26/06

$15

$18.85

$105

+26%

Arena Pharmaceuticals Inc. (ARNA)

1/27/06

$16.90

$12.91

$179.8

-24%

Arena Pharmaceuticals Inc. (ARNA) (co-lead)

12/8/06

$13.21

$12.91

$174.7

-2%

BioMarin Pharmaceutical Inc. (BMRN)

3/24/06

$13

$16.39

$134.6

+26%

Emergent BioSolutions Inc. (NYSE:EBS) (IPO; co-lead)

11/15/06

$12.50

$11.16

$62.6

-11%

Exelixis Inc. (EXEL) (co-lead)

10/5/06

$8.40

$9

$96.6

+7%

Illumina Inc. (ILMN)

5/19/06

$25.50

$39.31

$102.6

+54%

Iomai Corp. (IOMI) (IPO; co-lead)

2/1/06

$7

$4.98

$35

-29%

Kosan Biosciences Inc. (KOSN) (co-lead)

3/30/06

$5

$5.55

$25.5

+11%

Novacea Inc. (NOVC) (IPO; co-lead)

5/10/06

$6.50

$5.66

$44.9

-13%

Replidyne Inc. (RDYN) (IPO)

6/28/06

$10

$5.74

$50

-43%

Credit Suisse
Securities

Alexion Pharmaceuticals Inc. (ALXN)

11/15/06

$43

$40.39

$148.4

-6%

Cell Genesys Inc. (CEGE) (lead)

9/7/06

$4.40

$3.39

$25.3

-23%

Kosan Biosciences Inc. (KOSN) (co-lead)

3/30/06

$5

$5.55

$25.5

+11%

Dawson James
Securities

Biopure Corp. (BPUR) (lead)

12/8/06

$0.64

$0.48

$18.1

-33%

Viragen Inc. (AMEX:VRA) (lead)

10/31/06

$0.26

$0.15

$18.7

-42%

Deutsche Bank
Securities

BioMimetic Therapeutics Inc. (BMTI) (IPO; co-lead)

5/12/06

$8

$13.19

$36.8

+65%

Cadence Pharmaceuticals Inc. (CADX) (IPO; co-lead)

10/25/06

$9

$12.32

$62.1

+37%

Dyax Corp. (DYAX) (lead)

3/9/06

$5.65

$3.03

$31.1

-46%

Nuvelo Inc. (NUVO) (co-lead)

1/31/06

$16

$4

$119.6

-75%

Targacept Inc. (TRGT) (IPO; co-lead)

4/12/06

$9

$9.05

$45

+1%

XenoPort Inc. (XNPT)

6/21/06

$17

$24.55

$76.5

+44%

Dundee Securities

Labopharm Inc. (Canada; DDSS)

4/28/06

$8

$5.87

$101.2

-27%

Ferris, Baker Watts

Immtech International Inc. (AMEX:IMM) (lead)

2/13/06

$8

$7.60

$16

-5%

First Albany Capital

BioMimetic Therapeutics Inc. (BMTI) (IPO)

5/12/06

$8

$13.19

$36.8

+65%

Catalyst Pharmaceutical Partners Inc. (CPRX) (IPO; co-lead)

11/9/06

$6

$4.83

$20.1

-20%

Iomai Corp. (IOMI) (IPO)

2/1/06

$7

$4.98

$35

-29%

Valera Pharmaceuticals Inc. (VLRX) (IPO)

2/2/06

$9

$8.10

$34.8

-10%

Fortis Securities

Arena Pharmaceuticals Inc. (ARNA)

12/8/06

$13.21

$12.91

$174.7

-2%

Valera Pharmaceuticals Inc. (VLRX) (IPO)

2/2/06

$9

$8.10

$34.8

-10%

Friedman Billings Ramsey

Celgene Corp. (CELG)

11/3/06

$51.60

$57.53

$1,032

+11%

Goldman, Sachs
& Co.

Alexion Pharmaceuticals Inc. (ALXN) (co-lead)

11/15/06

$43

$40.39

$148.4

-6%

Amylin Pharmaceuticals Inc. (AMLN) (co-lead)

3/30/06

$46.50

$36.07

$534.8

-22%

Celgene Corp. (CELG)

11/3/06

$51.60

$57.53

$1,032

+11%

Exelixis Inc. (EXEL) (co-lead)

10/5/06

$8.40

$9

$96.6

+7%

Illumina Inc. (ILMN) (co-lead)

5/19/06

$25.50

$39.31

$102.6

+54%

Medarex Inc. (MEDX) (co-lead)

4/7/06

$11.75

$14.79

$135.1

+26%

HSBC Securities

Emergent BioSolutions Inc. (NYSE:EBS) (IPO)

11/15/06

$12.50

$11.16

$62.6

-11%

Novacea Inc. (NOVC) (IPO)

5/10/06

$6.50

$5.66

$44.9

-13%

Theravance Inc. (THRX)

2/1/06

$28.50

$30.89

$131.1

+8%

Janney
Montgomery Scott

Medarex Inc. (MEDX)

4/7/06

$11.75

$14.79

$135.1

+26%

Jefferies & Co.

Advanced Magnetics Inc. (AMAG)

12/7/06

$62

$59.72

$130.4

-4%

Metabolix Inc. (MBLX) (IPO)

11/17/06

$14

$18.94

$109.5

+35%

Osiris Therapeutics Inc. (OSIR) (IPO; lead)

8/4/06

$11

$25.32

$38.5

+130%

JMP Securities

Acadia Pharmaceuticals Inc. (ACAD)

4/27/06

$12

$8.79

$59.4

-27%

Achillion Pharmaceuticals Inc. (ACHN) (IPO)

10/26/06

$11.50

$16.11

$59.5

+40%

Alexza Pharmaceuticals Inc. (ALXA) (IPO)

3/8/06

$8

$11.39

$50.6

+42%

Cadence Pharmaceuticals Inc. (CADX) (IPO)

10/25/06

$9

$12.32

$62.1

+37%

Celgene Corp. (CELG)

11/3/06

$51.60

$57.53

$1,032

+11%

Cerus Corp. (CERS) (co-lead)

3/16/06

$8.75

$5.86

$45.3

-33%

Indevus Pharmaceuticals Inc. (IDEV)

6/28/06

$4.65

$7.10

$37.43

+53%

SGX Pharmaceuticals Inc. (SGXP) (IPO)

1/31/06

$6

$3.50

$24.9

-42%

JP Morgan
Securities

Adolor Corp. (ADLR)

2/16/06

$25

$7.52

$143.8

-70%

Celgene Corp. (CELG) (co-lead)

11/3/06

$51.60

$57.53

$1,032

+11%

Emergent BioSolutions Inc. (NYSE:EBS)(IPO; co-lead)

11/15/06

$12.50

$11.16

$62.6

-11%

MannKind Corp. (MNKD) (co-lead)

12/7/06

$17.42

$16.49

$400.7

-5%

Medarex Inc. (MEDX) (co-lead)

4/7/06

$11.75

$14.79

$135.1

+26%

Nuvelo Inc. (NUVO) (co-lead)

1/31/06

$16

$4

$119.6

-75%

Sirna Therapeutics Inc. (RNAI) (co-lead)

5/24/06

$5

$13**

$51.8

+160%

Vanda Pharmaceuticals Inc. (VNDA)(IPO; co-lead)

4/12/06

$10

$24.65

$59.6

+147%

Lazard Capital
Markets

Acorda Therapeutics Inc. (ACOR) (IPO)

2/10/06

$6

$15.84

$36.5

+150%

Celgene Corp. (CELG)

11/3/06

$51.60

$57.53

$1,032

+11%

Insmed Inc. (INSM) (co-lead)

3/10/06

$2

$0.88

$46

-56%

Osiris Therapeutics Inc. (OSIR) (IPO)

8/4/06

$11

$25.32

$38.5

+130%

Targacept Inc. (TRGT) (IPO)

4/12/06

$9

$9.05

$45

+1%

Trubion Pharmaceuticals Inc. (TRBN) (IPO)

10/18/06

$13

$18.01

$52

+39%

Leerink Swann & Co.

Arena Pharmaceuticals Inc. (ARNA)

12/8/06

$13.21

$12.91

$174.7

-2%

BioMarin Pharmaceutical Inc. (BMRN)

3/24/06

$13

$16.39

$134.6

+26%

Celgene Corp. (CELG)

11/3/06

$51.60

$57.53

$1,032

+11%

Indevus Pharmaceuticals Inc. (IDEV)

6/28/06

$4.65

$7.10

$37.43

+53%

Labopharm Inc. (Canada; DDSS)

4/28/06

$8

$5.87

$101.2

-27%

MannKind Corp. (MNKD)

12/7/06

$17.42

$16.49

$400.7

-5%

Omrix Bio-pharmaceuticals Inc. (OMRI) (IPO)

4/20/06

$10

$30.26

$39.6

+203%

Osiris Therapeutics Inc. (OSIR) (IPO)

8/4/06

$11

$25.32

$38.5

+130%

Sirna Therapeutics Inc. (RNAI)

5/24/06

$5

$13**

$51.8

+160%

Lehman Brothers

Acadia Pharmaceuticals Inc. (ACAD) (co-lead)

4/27/06

$12

$8.79

$59.4

-27%

Adolor Corp. (ADLR) (lead)

2/16/06

$25

$7.52

$143.8

-70%

Amylin Pharmaceuticals Inc. (AMLN)

3/30/06

$46.50

$36.07

$534.8

+22%

CV Therapeutics Inc. (CVTX; co-lead)

8/16/06

$9.50

$13.96

$98.3

+47%

Lehman Brothers

Nuvelo Inc. (NUVO)

1/31/06

$16

$4

$119.6

-75%

Tercica Inc. (TRCA) (lead)

1/24/06

$6.40

$5

$36.8

-22%

Merrill Lynch & Co.

Altus Pharmaceuticals Inc. (ALTU) (IPO; co-lead)

1/26/06

$15

$18.85

$105

+26%

BioMarin Pharmaceutical Inc. (BMRN) (lead)

3/24/06

$13

$16.39

$134.6

+26%

Cadence Pharmaceuticals Inc. (CADX) (IPO; co-lead)

10/25/06

$9

$12.32

$62.1

+37%

Celgene Corp. (CELG) (co-lead)

11/3/06

$51.60

$57.53

$1,032

+11%

CV Therapeutics Inc. (CVTX) (co-lead)

8/16/06

$9.50

$13.96

$98.3

+47%

Illumina Inc. (ILMN) (co-lead)

5/19/06

$25.50

$39.31

$102.6

+54%

Labopharm Inc. (Canada; DDSS) (co-lead)

4/28/06

$8

$5.87

$101.2

-27%

MannKind Corp. (MNKD) (co-lead)

12/7/06

$17.42

$16.49

$400.7

-5%

Replidyne Inc. (RDYN) (IPO; co-lead)

6/28/06

$10

$5.74

$50

-43%

Theravance Inc. (THRX) (lead)

2/1/06

$28.50

$30.89

$131.1

+8%

Vertex Pharmaceuticals Inc. (VRTX) (co-lead)

9/14/06

$33

$37.42

$300.3

+13%

Montgomery & Co.

Arena Pharmaceuticals Inc. (ARNA)

1/27/06

$16.90

$12.91

$179.8

-24%

Morgan Joseph
& Co.

Arena Pharmaceuticals Inc. (ARNA)

1/27/06

$16.90

$12.91

$179.8

-24%

Morgan Joseph
& Co.

Arena Pharmaceuticals Inc. (ARNA)

12/8/06

$13.21

$12.91

$174.7

-2%

Morgan Stanley & Co.

Advanced Magnetics Inc. (AMAG) (co-lead)

12/7/06

$62

$59.72

$130.4

-4%

Alexion Pharmaceuticals Inc. (ALXN) (co-lead)

11/15/06

$43

$40.39

$148.4

-6%

Affymax Inc. (AFFY) (IPO; lead)

12/15/06

$25

$34.04

$106.4

+36%

Alnylam Pharmaceuticals Inc. (ALNY) (co-lead)

1/31/06

$13

$21.40

$66.5

+65%

Amylin Pharmaceuticals Inc. (AMLN) (co-lead)

3/30/06

$46.50

$36.07

$534.8

-22%

Altus Pharmaceuticals Inc. (ALTU) (IPO; co-lead)

1/26/06

$15

$18.85

$105

+26%

Celgene Corp. (CELG)

11/3/06

$51.60

$57.53

$1,032

+11%

Replidyne Inc. (RDYN) (IPO; co-lead)

6/28/06

$10

$5.74

$50

-43%

Trubion Pharmaceuticals Inc. (TRBN) (IPO; co-lead)

10/18/06

$13

$18.01

$52

+39%

Vertex Pharmaceuticals Inc. (VRTX) (co-lead)

9/14/06

$33

$37.42

$300.3

+13%

XenoPort Inc. (XNPT) (lead)

6/21/06

$17

$24.55

$76.5

+44%

Needham & Co.

Arena Pharmaceuticals Inc. (ARNA)

1/27/06

$16.90

$12.91

$179.8

-24%

Arena Pharmaceuticals Inc. (ARNA)

12/8/06

$13.21

$12.91

$174.7

-2%

Oppenheimer & Co.

Arena Pharmaceuticals Inc. (ARNA)

12/8/06

$13.21

$12.91

$174.7

-2%

Omrix Biopharmaceuticals Inc. (OMRI) (IPO)

4/20/06

$10

$30.26

$39.6

+203%

Orion Securities

Labopharm Inc. (Canada; DDSS)

4/28/06

$8

$5.87

$101.2

-27%

Pacific Growth
Equities

Adolor Corp. (ADLR)

2/16/06

$25

$7.52

$143.8

-70%

Alexza Pharmaceuticals Inc. (ALXA) (IPO; co-lead)

3/8/06

$8

$11.39

$50.6

+42%

BioMarin Pharmaceutical Inc. (BMRN)

3/24/06

$13

$16.39

$134.6

+26%

BioMimetic Therapeutics Inc. (BMTI) (IPO; co-lead)

5/12/06

$8

$13.19

$36.8

+65%

Cadence Pharmaceuticals Inc. (CADX) (IPO)

10/25/06

$9

$12.32

$62.1

+37%

Dynavax Technologies Corp. (DVAX) (lead)

10/4/06

$4.40

$9.18

$31.4

+109%

Novacea Inc. (NOVC) (IPO)

5/10/06

$6.50

$5.66

$44.9

-13%

Replidyne Inc. (RDYN) (IPO)

6/28/06

$10

$5.74

$50

-43%

Targacept Inc. (TRGT) (IPO; co-lead)

4/12/06

$9

$9.05

$45

+1%

Trubion Pharmaceuticals Inc. (TRBN) (IPO)

10/18/06

$13

$18.01

$52

+39%

XenoPort Inc. (XNPT)

6/21/06

$17

$24.55

$76.5

+44%

Piper Jaffray & Co.

Acadia Pharmaceuticals Inc. (ACAD)

4/27/06

$12

$8.79

$59.4

-27%

Piper Jaffray & Co.

Acorda Therapeutics Inc. (ACOR) (IPO)

2/10/06

$6

$15.84

$36.5

+150%

Alexion Pharmaceuticals Inc. (ALXN)

11/15/06

$43

$40.39

$148.4

-6%

Alexza Pharmaceuticals Inc. (ALXA) (IPO; co-lead)

3/8/06

$8

$11.39

$50.6

+42%

Alnylam Pharmaceuticals Inc. (ALNY)

1/31/06

$13

$21.40

$66.5

+65%

Arena Pharmaceuticals Inc. (ARNA)

1/27/06

$16.90

$12.91

$179.8

-24%

Arena Pharmaceuticals Inc. (ARNA) (co-lead)

12/8/06

$13.21

$12.91

$174.7

-2%

Celgene Corp. (CELG)

11/3/06

$51.60

$57.53

$1,032

+11%

Exelixis Inc. (EXEL)

10/5/06

$8.40

$9

$96.6

+7%

Metabolix Inc. (MBLX) (IPO; lead)

11/17/06

$14

$18.94

$109.5

+35%

Sangamo BioSciences Inc. (SGMO) (lead)

6/15/06

$6.50

$6.60

$20.2

+2%

SGX Pharmaceuticals Inc. (SGXP) (IPO; co-lead)

1/31/06

$6

$3.50

$24.9

-42%

Punk, Ziegel & Co.

Genitope Corp. (GTOP)

2/7/06

$8.50

$3.52

$62.6

-59%

RBC Capital Markets

Affymax Inc. (AFFY) (IPO)

12/15/06

$25

$34.04

$106.4

+36%

Alexza Pharmaceuticals Inc. (ALXA) (IPO)

3/8/06

$8

$11.39

$50.6

+42%

RBC Capital Markets

Genitope Corp. (GTOP) (co-lead)

2/7/06

$8.50

$3.52

$62.6

-59%

Pharmacyclics Inc. (PCYC) (co-lead)

11/7/06

$4.75

$5.07

$22.9

+7%

Robert W. Baird & Co.

Cepheid Inc. (CPHD)

3/8/06

$8.60

$8.50

$86

-1%

Cerus Corp. (CERS) (co-lead)

3/16/06

$8.75

$5.86

$45.3

-33%

Illumina Inc. (ILMN)

5/19/06

$25.50

$39.31

$102.6

+54%

Rodman & Renshaw

Alnylam Pharmaceuticals Inc. (ALNY)

1/31/06

$13

$21.40

$66.5

+65%

BioMarin Pharmaceutical Inc. (BMRN)

3/24/06

$13

$16.39

$134.6

+26%

Celgene Corp. (CELG)

11/3/06

$51.60

$57.53

$1,032

+11%

Omrix Bio-pharmaceuticals Inc. (OMRI)

12/15/06

$32

$30.26

$48

-5%

Roth Capital Partners

Cleveland BioLabs Inc. (CBLI) (IPO; co-lead)

7/20/06

$6

$5.04

$10.2

-16%

Stifel Nicolaus

Catalyst Pharmaceutical Partners Inc. (CPRX) (IPO; co-lead)

11/9/06

$6

$4.83

$20.1

-20%

Sunrise Securities

Cleveland BioLabs Inc. (CBLI) (IPO; co-lead)

7/20/06

$6

$5.04

$10.2

-16%

Susquehanna Financial

Iomai Corp. (IOMI) (IPO)

2/1/06

$7

$4.98

$35

-29%

ThinkEquity
Partners

Advanced Magnetics Inc. (AMAG) (lead)

3/6/06

$27.46

$59.72

$33.8

+117%

Advanced Magnetics Inc. (AMAG)

12/7/06

$62

$59.72

$130.4

-4%

Thomas Weisel Partners

Affymax Inc. (AFFY) (IPO)

12/15/06

$25

$34.04

$106.4

+36%

Celgene Corp. (CELG)

11/3/06

$51.60

$57.53

$1,032

+11%

Metabolix Inc. (MBLX) (IPO)

11/17/06

$14

$18.94

$109.5

+35%

Pharmacyclics Inc. (PCYC) (co-lead)

11/7/06

$4.75

$5.07

$22.9

+7%

Theravance Inc. (THRX)

2/1/06

$28.50

$30.89

$131.1

+8%

Vanda Pharmaceuticals Inc. (VNDA) (IPO)

4/12/06

$10

$24.65

$59.6

+147%

UBS Investment Bank

Advanced Magnetics Inc. (AMAG) (co-lead)

12/7/06

$62

$59.72

$130.4

-4%

Arena Pharmaceuticals Inc. (ARNA) (co-lead)

1/27/06

$16.90

$12.91

$179.8

-24%

Cepheid Inc. (CPHD) (lead)

3/8/06

$8.60

$8.50

$86

-1%

Iomai Corp. (IOMI) (IPO; co-lead)

2/1/06

$7

$4.98

$35

-29%

Indevus Pharmaceuticals Inc. (IDEV) (lead)

6/28/06

$4.65

$7.10

$37.43

+53%

NeoPharm Inc. (NEOL) (lead)

1/5/06

$10.20

$1.67

$41.1

-84%

Omrix Bio\pharmaceuticals Inc. (OMRI) (IPO; co-lead)

4/20/06

$10

$30.26

$39.6

+203%

Omrix Biopharmaceuticals Inc. (OMRI) (co-lead)

12/15/06

$32

$30.26

$48

-5%

Sirna Therapeutics Inc. (RNAI) (co-lead)

5/24/06

$5

$13**

$51.8

+160%

UBS Investment
Bank

Valera Pharmaceuticals Inc. (VLRX) (IPO; co-lead)

2/2/06

$9

$8.10

$34.8

-10%

Vertex Pharmaceuticals Inc. (VRTX)

9/14/06

$33

$37.42

$300.3

+13%

Wachovia Capital Markets

MannKind Corp. (MNKD)

12/7/06

$17.42

$16.49

$400.7

-5%

Westwind Partners

Labopharm Inc. (Canada; DDSS)

4/28/06

$8

$5.87

$101.2

-27%

William Blair & Co.

Cepheid Inc. (CPHD)

3/8/06

$8.60

$8.50

$86

-1%

WR Hambrecht + Co.

Genitope Corp. (GTOP) (co-lead)

2/7/06

$8.50

$3.52

$62.6

-59%