I. COMMENCED TRADING IN APRIL | ||||||||
Company |
Date |
Date |
Shares/ |
Price | Shares |
Lead, Other |
Gross |
Post-Offering |
INITIAL OFFERINGS | ||||||||
Omrix Bio- |
1/18/06 |
4/20/06 |
3.44S |
$10 |
14.32 |
UBS Investment Bank, CIBC World Markets (co-lead), Leerink Swann & Co., Oppenheimer & Co. |
$34.4 |
$143.2 |
Renovo |
3/27/06 |
4/7/06 |
66.1S |
£0.87 |
185.6 |
Goldman Sachs, Nomura Code, Securities (co-lead) |
£57.5 |
£161.5 |
Targacept |
1/17/06 |
4/12/06 |
5S |
$9 |
19.10 |
Deutsche Bank Securities, Pacific Growth Equities (co-lead), CIBC World Markets, Lazard Capital Markets |
$45 |
$171.9 |
Vanda |
12/29/05 |
4/12/06 |
5.964S |
$10 |
21.81 |
JP Morgan Securities, Banc of America (co-lead), Thomas Weisel Partners |
$59.6 |
$218.1 |
Total: $239.6M | ||||||||
Number of IPOs in April: 4 | ||||||||
Average value of April IPOs: $59.9M | ||||||||
Number of IPOs in 2006: 10 | ||||||||
Total raised in IPOs in 2006: $526.38M | ||||||||
Average value of IPOs in 2006: $52.64M | ||||||||
FOLLOW-ON OFFERINGS | ||||||||
Company |
Date |
Date |
Shares/ |
Price | Shares |
Lead, Other Underwriters | Gross (M) |
Post- |
Acadia |
4/24/06 |
4/27/06 |
4.947S |
$12 |
29.34 |
Banc of America, Lehman Brothers (co- lead), Piper Jaffray & Co., JMP Securities, Canaccord Adams Inc. |
$59.4 |
$352.1 |
Labopharm |
4/18/06 |
4/28/06 |
11S |
$8 |
54.90 |
Merrill Lynch & Co., Banc of America (co-lead), Canaccord Capital, Leerink Swann & Co., Orion Securities, Dundee Securities, Westwind Partners |
$88 |
$439.2 |
Medarex |
4/3/06 |
4/7/06 |
10S |
$11.75 |
121.9 |
Goldman, Sachs & Co., JP Morgan Securities (co-lead), Janney Montgomery Scott |
$117.5 |
$1,432.3 |
OVERALLOTMENT OPTIONS | ||||||||
Amylin |
3/27/06 |
4/4/06 |
1.5S |
$46.50 |
123.3 |
Morgan Stanley & Co. , Goldman, Sachs & Co. (co-lead), Bear, Stearns & Co., Lehman Brothers |
$69.75 |
$5,733.5 |
Total: $334.65M | ||||||||
Number of follow-on offerings in April: 3 | ||||||||
Average value of April follow-ons: $88.3M | ||||||||
Number of follow-on offerings in 2006: 20 | ||||||||
Total raised in follow-ons in 2006: $1,999.17M | ||||||||
Average value of follow-ons in 2006: $99.96M | ||||||||
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. LSE = London Stock Exchange; TSE = Toronto Stock Exchange. | ||||||||
1. Omrix raised about $34.4M in an IPO of about 3.44M shares. Underwriters have an option to purchase up to 515,625 additional shares to cover overallotments. | ||||||||
2. Renovo raised £57.5M in an initial public offering. Totals include the underwriters' purchase of about 8.6M shares per their overallotment option. | ||||||||
3. Targacept raised $45M in an IPO of 5M shares. Underwriters have an option to purchase up to 750,000 additional shares to cover overallotments. | ||||||||
4. Vanda raised about $59.6M in an IPO of about 5.964M shares. Totals include the underwriters' purchase of 214,188 shares per their overallotment option. | ||||||||
5. Acadia raised $59.4M in a follow-on offering. Underwriters have an option to purchase up to 742,084 additional shares to cover overallotments. | ||||||||
6. Labopharm raised $88M in an offering in which it gained a Nasdaq listing. Underwriters have an option to purchase up to 1.65M additional shares to cover overallotments. | ||||||||
7. Medarex raised $117.5M in a follow-on offering from a shelf registration. Underwriters have an option to purchase up to 1.5M additional shares to cover overallotments. | ||||||||
8. Underwriters from Amylin's follow-on offering in March exercised their option to purchase 1.5M shares. The offering totaled 11.5M shares and $534.75M 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 |
BioMimetic |
2/10/06 |
4.5S |
$11-$13 |
N/A |
Deutsche Bank Securities, Pacific Growth Equities (co-lead), First Albany Capital, AG Edwards |
$54 |
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 |
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., Cowen & Co. (co-lead), Oppenheimer & Co., Roth Capital Partners |
$57.5 |
Novacea Inc. |
2/10/06 |
6.25S |
$11-$13 |
N/A |
Bear, Stearns & Co., Credit Suisse Securities (co-lead), Pacific Growth Equities, HSBC Securities |
$75 |
Perlegen |
4/10/06 |
N/A |
N/A |
N/A |
Lehman Brothers, Deutsche Bank Securities (co-lead), Piper Jaffray & Co., Allen & Co. |
$115 |
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, 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 |
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. BioMimetics filed to raise up to $50M in an IPO. Terms were proposed in April. The value is based on the midpoint of that estimate. | ||||||
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. Light Sciences Oncology filed to raise up to $86.25M in an IPO. | ||||||
6. Molecular Insight filed to raise up to $57.5M in an IPO. | ||||||
7. Novacea filed to raise up to $75M in an IPO. Terms were proposed in April. The value is based on the midpoint of that estimate. | ||||||
8. Perlegen filed to raise up to $115M in an IPO. | ||||||
9. PTC Therapeutics filed to raise up to $86.25M in an IPO. | ||||||
10. 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. | ||||||
11. Replidyne filed to raise up to $100M in an IPO. | ||||||