I. COMMENCED TRADING IN JANUARY | ||||||||
Company |
Date |
Date |
Shares/ |
Price | Shares |
Lead, Other |
Gross |
Post- |
|
|
||||||||
INITIAL OFFERINGS | ||||||||
Altus |
10/17/05 |
1/26/06 |
7S |
$15 |
21.00 |
Merrill Lynch & Co., Morgan Stanley (co-lead), SG Cowen & Co. |
$105 |
$315.0 |
SGX |
9/2/05 |
1/31/06 |
4S |
$6 |
14.20 |
CIBC World Markets, Piper Jaffray & Co. (co-lead), JMP Securities |
$24 |
$85.2 |
Total: $129.0M | ||||||||
Number of IPOs in January: 2 | ||||||||
Average value of January IPOs: $64.5M | ||||||||
Number of IPOs in 2006: 2 | ||||||||
Total raised in IPOs in 2006: $129.0M | ||||||||
Average value of IPOs in 2006: $64.5M | ||||||||
FOLLOW-ON OFFERINGS | ||||||||
Company |
Date |
Date |
Shares/ |
Price | Shares |
Lead, Other |
Gross |
Post- |
|
|
||||||||
Alnylam |
1/23/06 |
1/31/06 |
5.116S |
$13 |
31.76 |
Morgan Stanley & Co., Banc of America (co-lead), Piper Jaffray & Co., SG Cowen & Co., Rodman & Renshaw |
$66.5 |
$412.9 |
Arena |
1/17/06 |
1/27/06 |
9.752S |
$16.90 |
45.24 |
CIBC World Markets, UBS Investment Bank (co-lead), Needham & Co., Piper Jaffray & Co., SG Cowen & Co., Morgan Joseph & Co., Montgomery & Co. |
$164.8 |
$764.6 |
NeoPharm |
12/17/03 |
1/5/06 |
4.025S |
$10.20 |
27.73 |
UBS Investment Bank |
$41.1 |
$282.8 |
Nuvelo Inc. |
1/24/06 |
1/31/06 |
6.5S |
$16 |
48.76 |
JP Morgan Securities, Deutsche Bank Securities (co-lead), Lehman Brothers |
$104 |
$780.2 |
Tercica Inc. |
12/1/05 |
1/24/06 |
5.75S |
$6.40 |
38.33 |
Lehman Brothers |
$36.8 |
$245.3 |
Total: $413.2M | ||||||||
Number of follow-on offerings in January: 5 | ||||||||
Average value of January follow-ons: $82.64M | ||||||||
Number of follow-on offerings in 2005: 5 | ||||||||
Total raised in follow-ons in 2006: $413.2M | ||||||||
Average value of follow-ons in 2006: $82.64M | ||||||||
|
|
||||||||
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. | ||||||||
1. Altus raised $105M in an IPO of 7M shares. Underwriters have an option to purchase up to 1.05M additional shares to cover overallotments. | ||||||||
2. SGX raised $24M in an IPO of 4M shares. Underwriters have an option to purchase up to 600,000 additional shares to cover overallotments. | ||||||||
3. Alnylam raised $66.5M in a follow-on offering. Underwriters have an option to purchase up to 767,394 additional shares to cover overallotments. | ||||||||
4. Arena raised $164.8M in a follow-on offering. Underwriters have an option to purchase up to 1.463M additional shares to cover overallotments. | ||||||||
5. NeoPharm raised $41.1M in a follow-on offering from a shelf registration. Totals include the underwriter's purchase of 525,000 additional shares per its overallotment option. | ||||||||
6. Nuvelo raised $104M in a follow-on offering. Underwriters have an option to purchase up to 975,000 additional shares to cover overallotments. | ||||||||
7. Tercica raised $36.8M in a follow-on offering. Totals include the underwriter's purchase of 750,000 shares per its overallotment option. | ||||||||
II. FILED AND PENDING |
||||||
Company |
Date Filed | Shares/ |
Price Range | Shares Out (M)@ | Lead, Other Underwriters | Value (M) |
|
|
||||||
INITIAL OFFERINGS | ||||||
Acorda |
10/5/05 |
5.5S |
$11-$13 |
N/A |
Banc of America, Lazard Capital Markets, Piper Jaffray & Co., SG Cowen & Co. |
$66 |
Alexza |
12/22/05 |
N/A |
N/A |
N/A |
Piper Jaffray & Co., Pacific Growth Equities (co- lead), RBC Capital Markets, JMP Securities |
$86.25 |
BioNumerik |
6/9/04 |
5S |
$14-$16 |
N/A |
UBS Investment Bank, Needham & Co., Leerink Swann & Co., Punk, Ziegel & Co. |
$75 |
Corus |
8/27/04 |
N/A |
N/A |
N/A |
Merrill Lynch & Co., Pacific Growth Equities, SunTrust Robinson Humphrey, JMP Securities |
$100 |
Iomai Corp. |
10/3/05 |
6.3S |
$11-$13 |
N/A |
UBS Investment Bank, AG Cowen & Co., First Albany Capital, Susquehanna Financial |
$75.6 |
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 |
Omrix Bio- |
1/18/06 |
N/A |
N/A |
N/A |
UBS Investment Bank, CIBC World Markets (co-lead), Leerink Swann & Co., Oppenheimer & Co. |
$80.5 |
Targacept |
1/17/06 |
N/A |
N/A |
N/A |
Deutsche Bank Securities, Pacific Growth Equities (co-lead), CIBC World Markets, Lazard Capital Markets |
$59.8 |
Valera |
3/14/05 |
3.75S |
$10-$12 |
N/A |
UBS Investment Bank, Banc of America (co-lead), First Albany Capital, Fortis Securities |
$41.25 |
Vanda |
12/29/05 |
N/A |
N/A |
N/A |
JP Morgan Securities, Banc of America (co-lead), Thomas Weisel Partners |
$75 |
FOLLOW-ON OFFERINGS |
||||||
Genitope |
1/23/06 |
4.5S |
$9.19 |
N/A |
WR Hambrecht + Co., RBC Capital Markets (co- ead), Brean Murray, Carret, Punk, Ziegel & Co. |
$41.4 |
Theravance |
1/30/06 |
4.6S |
$27.40 |
N/A |
Merrill Lynch & Co., HSBC, Thomas Weisel Partners |
$126.0 |
WITHDRAWN AND POSTPONED |
||||||
Company |
Date |
Shares/ |
Price |
Shares |
Lead, Other |
Value |
|
|
||||||
Glycotex Inc.\ |
9/9/05/ |
N/A |
N/A |
N/A |
Janney Montgomery Scott |
$39 |
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. Acorda filed to raise up to $86.75M in an IPO. It withdrew a previous IPO filing in January 2004. The shares and price range were set in January. The value is based on the midpoint of that price range. | ||||||
2. Alexza 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. Corus filed to raise up to $100M in an IPO. | ||||||
5. Iomai filed to raise up to $86.25M in an IPO. It set the terms in January. The value is based on the midpoint of that price range. | ||||||
6. Molecular Insight filed to raise up to $57.5M in an IPO. | ||||||
7. Omrix filed to raise up to $80.5M in an IPO. | ||||||
8. Targacept filed to raise up to $59.8M in an IPO. A previous IPO filing was withdrawn in March 2005. | ||||||
9. Valera filed to raise up to $74.75M in an IPO. It set the price range and shares in January. The value is based on the midpoint of that price range. | ||||||
10. Vanda filed to raise up to $75M in an IPO. | ||||||
11. Genitope said Jan. 23 it would sell 4.5M shares from an existing registration. The value is based on the Jan. 20 closing price. | ||||||
12. Theravance registered to sell 4.6M shares. The value is based on the Jan. 27 closing price. | ||||||
13. Glycotex, a subsidiary of Novogen Ltd., withdrew its IPO filing. It said it planned to file again later in 2006. | ||||||