| Total: $1,945.05M | ||||
Company |
Type Of |
Number Of |
Amount Raised (M) | Investors; Placement Agents; |
Aastrom |
Registered direct offering |
15.9S |
$25.5 |
The registered shares were placed at $1.60 each; Merriman Curhan Ford & Co. was lead placement agent; Dawson James Securities Inc. was co-agent (4/6) |
Acusphere |
Private placement of stock and warrants |
5.772S and 1.717W |
$40.2 |
Units were sold in a registered direct offering at $6.9675 each; the five-year warrants are exercisable at $7.97 per share; Cowen & Co. LLC was placement agent (4/7) |
AMDL Inc. |
Private placement of stock and warrants |
5S and 5.5W |
$1.81 |
The stock was sold at $0.362 per share; the three- year warrants are exercisable at $0.555 per share (4/12) |
Akesis |
Private placement of stock and warrants |
0.075S and |
$0.15 |
Shares were sold at $2 each in the initial closing of a financing that could total $0.5M; the three-year warrants are exercisable at $3 per share; most of the shares were bought by Akesis board members (4/4) |
Allergy |
Private placement of stock |
19S |
£19 ($33.3) |
The shares were sold at 100 pence each (4/10) |
Alteon Inc. |
Private placement of stock and warrants |
10.3S and 10.3W |
$2.6 |
Units consisting of one share and one warrant were sold at $0.25 each; the five-year warrants are exercisable at $0.30 per share; Rodman & Renshaw LLC was placement agent (4/19) |
Ark |
Private placement and open offer |
31.87S |
£$27.1 ($49.8) |
The placement and offer to existing shareholders was fully underwritten by Piper Jaffray Ltd. and Credit Suisse Securities Ltd., at 85 pence per share (4/27) |
AspenBio |
Private placement of stock |
1.02S |
$1.43 |
Shares were sold to accredited investors; no commission was paid in the deal (4/13) |
BioSyntech |
Private placement of stock and warrants |
27.86S and 13.93W |
C$11.7 ($10.3) |
The deal marked the second closing of a total C$21.7M financing, the first part of which closed in March; the three-year warrants are exercisable at C$0.65 per share; Desjardins Securities Inc. and Dundee Securities Corp. were placement agents (4/16) |
CV |
Equity |
N/A |
N/A |
Azimuth Opportunity Ltd. committed to purchase up to $200M in CV stock over three years at a small discount to market price; sales would be made at CV's discretion (4/18) |
Cyclacel |
Private placement of stock and warrants |
6.43S and 2.57W |
$45.3 |
Units consisting of one share and 0.40 of a warrant were sold at $7.05 each; investors paid an extra $0.05 for each full warrant; the seven-year warrants are exercisable at $7 per share; investors included Deerfield Management, Federated Kaufman Fund and Red Abbey Ventures; Cowen & Co. LLC was lead placement agent; Needham & Co. LLC was co-placement agent (4/27) |
Discovery |
Equity commitment |
N/A |
N/A |
Kingsbridge Capital Ltd. committed to buy up to $50M in Discovery stock over three years, at times to be decided by Discovery (4/19) |
DOR |
Private placement of stock and warrants |
13.2S and 13.2W |
$3.65 |
The shares were sold at about $0.276 each; the warrants are exercisable at $0.45 per share (4/6) |
Dynavax |
Program- specific funding |
N/A |
$50 |
Symphony Capital Partners LP and co-investors are providing $50 to advance Dynavax's ISS-based cancer, hepatitis B and hepatitis C programs through development; Dynavax has rights to re-acquire the drugs (4/19) |
Evotec AG |
Private placement of stock |
5.229S |
€18.5 ($23.3) |
The stock was sold to institutional investors in Europe and the U.S. at €3.55 per share; DZ Bank AG was placement agent (4/27) |
Gilead |
Private placement of convertible notes |
N/A |
$1.3B |
Gilead sold $650M of notes due in 2011, and $650M due in 2013; the 0.5% 2011 notes are convertible into stock at $77.50 per share; the 0.625% 2013 notes are convertible at $76.21 per share; totals include investors' purchase of $100M in notes per their overallotment option (4/20) |
Halozyme |
Warrants exercise |
1.476S |
$1.9 |
Holders of various outstanding warrants exercised rights to purchase 1.476M shares of stock (4/20) |
Isis |
Product- specific funding |
N/A |
$75 |
Symphony Capital Partners LP and co-investors are providing $75M to fund Isis' cholesterol-lowering drug ISIS 301012 and two diabetes agents; Isis retained rights to re-acquire the drugs (4/7) |
MethylGene |
Private placement of stock and warrants |
7.39S and 2.217W |
C$22.9 ($20.4) |
Units consisting of one share and 0.30 of a warrant were sold at C$3.10 each; the three-year warrants are exercisable at C$3.90 to C$4.25 per share; the financing was led by ProQuest Investments III LP and included other new investors Domain Public Equity Partners LP, CIBC Capital Partners and Pappas Ventures (4/26) |
NovaDel |
Private placement of stock and warrants |
8.09S and 2.43W |
$11.8 |
Shares were sold at $1.45 each to investors including Caisse de Depot et Placement du Quebec, Clearwater Funds, Henderson Global Management and ProQuest Investments; company insiders purchased shares at $1.58 each; the 5.5-year warrants are exercisable at $1.60 per share (4/20) |
Oscient |
Private placement of stock and warrants |
18S and 9W |
$35.9 |
The shares were sold at of $1.93 each; the five-year warrants are exercisable at $2.22 per share; they were sold at $0.1 25 per underlying share (4/6) |
Ortec |
Private placement of convertible notes and warrants |
N/A and 30.85W |
$6.17 |
The company sold 6% Series E shares at $1,000 per share; each is convertible into 5,000 common shares, at $0.20 per share; the five- ear warrants are exercisable at $0.50 per share; Rodman and Renshaw LLC was lead placement agent; Riverbank Capital Securities Inc. was co-agent (4/4) |
Palatin |
Private placement of stock and warrants |
11S and 3.67W |
$26.8 |
Stock as part of units was sold at $2.44 per share; the five-year warrants are exercisable at $2.88 per share; Vivo Ventures was lead investor; others included Palo Alto Investors, ProMed Management, Efficacy Biotech, Greenway Capital, RA Capital Associates and Great Point Partners; MDB Capital Group LLC was placement agent (4/12) |
Peregrine |
Private placement of stock |
4S |
$4.92 |
The shares are being sold from a shelf registration to one institutional investor (4/6) |
Pharma- |
Private placement of stock and warrants |
46S and 23W |
$23 |
23M units consisting of two shares and one warrant were sold at $1 each; the five-year warrants are exercisable at $0.65 per share; MDB Capital Group LLC was exclusive placement agent (4/17) |
Pluristem Life |
Private placement of convertible notes and warrants |
N/A and 47.39W |
$3 |
The 7% notes due in April 2008 are convertible at the lower of 75% of a 20-day average or the price of securities in a new financing; the three-year warrants are exercisable at $0.075 per share; another 9.5M warrants were issued as part of a finder's fee (4/4) |
Scolr Pharma |
Registered direct offering |
2.37S |
$11.85 |
The shares were sold from a shelf registration at $5 each; Taglich Brothers Inc. and Roth Capital Partners LLC were placement agents (4/18) |
Sonus |
Registered direct offering |
6.1S |
$30.6 |
Sonus sold the registered shares at $5 each; Federated Kaufmann Funds was the lead investor; Needham & Co. LLC was the lead placement agent, while Punk, Ziegel & Co. and ThinkEquity Partners LLC were co-agents (4/28) |
StemCells |
Registered |
11.75S |
$35.8 |
The shares were sold at $3.05 each from a shelf registration; UBS Investment Bank was placement agent (4/3) |
Tapestry |
Private placement of stock and warrants |
12.75S and 12.75W |
$25.5 |
Shares were sold at $2 each; warrants are exercisable at $2.40 per share; the investment was led by Special Situations Funds, Tang Capital Partners LP and Baker Brothers Investments, and included Biotechnology Value Fund LP, Fort Mason Partners LP, Heights Capital Management, Merlin BioMed Long Term Appreciation LP, Versant Capital Management LLC and Xmark Funds (4/6) |
Theratech- |
Bought-deal financing |
11.2S |
C$21.8 ($19.2) |
The shares were sold at C$1.95 each to a syndicate of underwriters led by BMO Nesbitt Burns; totals include shares purchased per the underwriters' overallotment option (4/20) |
Trinity |
Private placement of American depository shares |
2.9S |
$25 |
The ADSs were sold at $8.60 each in a registered offering (223,460 of the shares were sold at $8.95 each to the company's CEO); the price represented a 4.5% discount to the April 5 close; Roth Capital Partners LLC was lead placement agent; J&E Davy was co-agent (4/6) |
ViRexx |
Private placement of stock and warrants |
0.8S and 0.8W |
C$1 ($0.87) |
The two-year warrants issued in the deal are exercisable at $1.75 per share; Montex Exploration Ltd. was broker for the deal (4/7) |
Notes: | ||||
This chart does not include real estate or manufacturing plant financings or debt deals done to replace existing debt. | ||||
# Unless otherwise indicated, shares are traded on the Nasdaq exchange. | ||||
Currency conversions are based on exchange rates at the time of the deal. | ||||
N/A = Not applicable; ND = Not disclosed. | ||||
AIM = Alternative Investment Market; AMEX = American Stock Exchange; CDNX = Canadian Venture Exchange; FSE = Frankfurt Stock Exchange; LSE = London Stock Exchange; OTC BB = Over-the-Counter Bulletin Board; TSE = Toronto Stock Exchange. | ||||
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