I. COMMENCED TRADING IN MAY | ||||||||
Company |
Date |
Date |
Shares/ |
Price | Shares |
Lead, Other |
Gross |
Post- |
INITIAL OFFERINGS | ||||||||
BioMimetic |
2/10/06 |
5/12/06 |
4.6S |
$8 |
15.57 |
Deutsche Bank Securities, Pacific Growth Equities (co-lead), First Albany Capital, AG Edwards |
$36.8 |
$124.6 |
Novacea Inc. |
2/10/06 |
5/10/06 |
6.25S |
$6.50 |
22.32 |
Bear, Stearns & Co., Cowen & Co. (co-lead), Pacific Growth Equities, HSBC Securities |
$40.6 |
$139.5 |
OVERALLOTMENT OPTIONS | ||||||||
Omrix Bio- |
1/18/06 |
5/8/06 |
0.516S |
$10 |
14.84 |
UBS Investment Bank, CIBC World Markets (co-lead), Leerink Swann & Co., Oppenheimer & Co. |
$5.2 |
$148.4 |
Total: $82.6M | ||||||||
Number of IPOs in May: 2 | ||||||||
Average value of May IPOs: $38.7M | ||||||||
Number of IPOs in 2006: 12 | ||||||||
Total raised in IPOs in 2006: $608.98M | ||||||||
Average value of IPOs in 2006: $50.75M | ||||||||
FOLLOW-ON OFFERINGS | ||||||||
Company |
Date |
Date |
Shares/ |
Price | Shares |
Lead, Other |
Gross |
Post-Offering |
Illumina Inc. |
5/11/06 |
5/19/06 |
4.025S |
$25.50 |
45.20 |
Goldman, Sachs & Co., Merrill Lynch & Co. (co-lead), Cowen and Co., Robert W. Baird & Co. |
$102.6 |
$1,152.6 |
Sirna |
5/15/06 |
5/24/06 |
10.35S |
$5 |
72.63 |
UBS Investment Bank, JP Morgan Securities (co-lead), CIBC World Markets, Leerink Swann & Co., Brean Murray, Carret & Co. |
$51.75 |
$363.2 |
OVERALLOTMENT OPTIONS | ||||||||
Labopharm |
4/18/06 |
5/3/06 |
1.65S |
$8 |
56.55 |
Merrill Lynch & Co., Banc of America (co-lead), Canaccord Capital, Leerink Swann & Co., Orion Securities, Dundee Securities, Westwind Partners |
$13.2 |
$452.4 |
Medarex |
4/3/06 |
5/8/06 |
1.5S |
$11.75 |
123.4 |
Goldman, Sachs & Co., JP Morgan Securities (co-lead), Janney Montgomery Scott |
$17.6 |
$1,450.0 |
Total: $185.15M | ||||||||
Number of follow-on offerings in May: 2 | ||||||||
Average value of May follow-ons: $77.18M | ||||||||
Number of follow-on offerings in 2006: 22 | ||||||||
Total raised in follow-ons in 2006: $2,184.32M | ||||||||
Average value of follow-ons in 2006: $99.29M | ||||||||
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. | ||||||||
TSE = Toronto Stock Exchange. | ||||||||
1. BioMimetic raised $36.8M in an initial public offering. Underwriters have an option to purchase up to 690,000 additional shares to cover overallotments. | ||||||||
2. Novacea raised $40.6M in an initial public offering. Underwriters have an option to purchase up to 937,500 additional shares to cover overallotments. | ||||||||
3. Underwriters of Omrix's IPO that priced in April exercised their option to purchase 515,625 additional shares. The IPO totaled about 3.956M shares and $39.6M in gross proceeds. | ||||||||
4. Illumina raised about $102.6M in a follow-on offering from a shelf registration. Totals include the underwriters' purchase of 525,000 shares per their overallotment option. | ||||||||
5. Sirna raised $51.75M in a follow-on offering from a shelf registration. Totals include the underwriters' purchase of 1.35M shares per their overallotment option. | ||||||||
6. Underwriters of Labopharm's follow-on offering that priced in April exercised their option to purchase 1.65M additional shares. The offering totaled about 12.65M shares and $101.2M in gross proceeds. | ||||||||
7. Underwriters of Medarex's follow-on offering that priced in April exercised their option to purchase 1.5M additional shares. The offering totaled 11.5M shares and $135.1M in gross proceeds. | ||||||||
II. FILED AND PENDING | ||||||||
Company |
Date |
Shares/ |
Price |
Shares |
Lead, Other |
Value |
INITIAL OFFERINGS | ||||||
Achillion |
4/3/06 |
N/A |
N/A |
N/A |
Cowen & Co., CIBC World Markets (co-lead), JMP Securities |
$75 |
Amicus |
5/17/06 |
N/A |
N/A |
N/A |
Morgan Stanley, Goldman, Sachs & Co. (co-lead), Pacific Growth Equities |
$86.25 |
BioNumerik |
6/9/04 |
5S |
$14-$16 |
N/A |
UBS Investment Bank, Needham & Co., Leerink Swann & Co., Punk, Ziegel & Co. |
$75 |
Cleveland |
2/17/06 |
N/A |
N/A |
N/A |
Sunrise Securities |
$13.8 |
ImaRx |
5/19/06 |
N/A |
N/A |
N/A |
CIBC World Markets, Jefferies & Co., First Albany Capital |
$75 |
Light Sciences |
4/21/06 |
N/A |
N/A |
N/A |
Cowen & Co., Wachovia Securities (co-lead), Jefferies & Co., Thomas Weisel Partners |
$86.25 |
Molecular |
11/8/05 |
N/A |
N/A |
N/A |
Piper Jaffray & Co., SG Cowen & Co. (co-lead), Oppenheimer & Co., Roth Capital Partners |
$57.5 |
Osiris |
5/12/06 |
N/A |
N/A |
N/A |
Deutsche Bank Securities |
$80 |
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 |
QuatRx |
2/3/06 |
6S |
$11-$13 |
N/A |
Banc of America Securities, Pacific Growth Equities Cowen & Co. (co-lead) Lazard Capital Markets |
$72 |
Replidyne Inc. |
4/6/06 |
N/A |
N/A |
N/A |
Merrill Lynch & Co., Morgan Stanley & Co. (co-lead), Cowen & Co. Pacific Growth Equities |
$100 |
WITHDRAWN AND POSTPONED | ||||||
Company |
Date |
Shares/ |
Price |
Shares |
Lead, Other Underwriters | Value |
Adventrx |
5/16/06/ 5/22/06 |
15.5S |
$4.64 |
N/A |
UBS Investment Bank, CIBC World Markets, RBC Capital Markets, Fortis Securities |
$69.6 |
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. | ||||||
1. Achillion filed to raise up to $75M in an IPO. | ||||||
2. Amicus filed to raise up to $86.25M in an IPO. | ||||||
3. BioNumerik filed to raise up to $86.25M in an IPO. It later proposed selling 5M shares at $14 to $16 per share. The value is based on the midpoint of that price range. | ||||||
4. Cleveland BioLabs filed to raise up to $13.8M in an IPO. | ||||||
5. ImaRx filed to raise up to $75M in an IPO. | ||||||
6. Light Sciences Oncology filed to raise up to $86.25M in an IPO. | ||||||
7. Molecular Insight filed to raise up to $57.5M in an IPO. | ||||||
8. Osiris filed to raise up to $80M in an IPO. | ||||||
9. Perlegen filed to raise up to $115M in an IPO. | ||||||
10. Pharmasset filed to raise up to $75M in an IPO. | ||||||
11. PTC Therapeutics filed to raise up to $86.25M in an IPO. | ||||||
12. QuatRx filed to raise up to $86.25M in an IPO. Terms were proposed in April. The value is based on the midpoint of that estimate. | ||||||
13. Replidyne filed to raise up to $100M in an IPO. | ||||||
14. Adventrx cited market conditions in withdrawing its proposed follow-on offering. | ||||||