I. COMMENCED TRADING IN DECEMBER | ||||||||
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Company (Symbol)# |
Date Filed |
Date Comm. |
Shares/Units (M) |
Price |
Shares Out (M)@ |
Lead, Other Underwriters |
Gross (M) |
Post-Offering Market Cap (M)% |
|
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INITIAL OFFERINGS | ||||||||
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BioAlliance Pharma SA (France; Euronext:BIO)1 |
11/17/05 |
12/7/05 |
2.256S |
€13.30 |
8.27 |
Bryan Garnier & Co. |
€30 |
€110 |
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Somaxon Pharmaceuticals Inc. (SOMX)2 |
10/7/05 |
12/15/05 |
5S |
$11 |
18.03 |
Morgan Stanley & Co. |
$55 |
$198.3 |
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OVERALLOTMENT OPTIONS | ||||||||
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ExonHit Therapeutics SA (France; Euronext:ALEHT)3 |
10/18/05 |
12/10/05 |
0.173S |
€2.89 |
21.97 |
Société Générale |
€0.5 |
€63.5 |
| ||||||||
Total: $91.1M | ||||||||
Number of IPOs in December: 2 | ||||||||
Average value of December IPOs: $45.25M | ||||||||
Number of IPOs in 2005: 33 | ||||||||
Total raised in IPOs in 2005: $1,500.09M | ||||||||
Average value of IPOs in 2005: $45.46M | ||||||||
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FOLLOW-ON OFFERINGS | ||||||||
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Company (Symbol)# |
Date Filed |
Date Comm. |
Shares/Units (M) |
Price |
Shares Out (M)@ |
Lead, Other Underwriters |
Gross (M) |
Post-Offering Market Cap (M)% |
|
| ||||||||
Biopure Corp. (BPUR)4 |
12/1/05 |
12/21/05 |
10.12S |
$0.68 |
34.48 |
Dawson James Securities |
$6.9 |
$23.5 |
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Dendreon Corp. (DNDN)5 |
10/26/05 |
12/7/05 |
11.5S |
$4.50 |
70.86 |
Banc of America Securities |
$51.8 |
$318.9 |
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Medivation Inc. (OTC BB: MDVN)6 |
10/6/05 |
12/15/05 |
5.635S |
$2 |
24.76 |
Adams Harkness |
$11.27 |
$49.5 |
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OxiGene Inc. (OXGN)7 |
12/1/05 |
12/15/05 |
7.475S |
$3.65 |
28.04 |
SG Cowen & Co. |
$27.3 |
$102.3 |
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|
ViroPharma Inc. (VPHM)8 |
10/19/01 |
12/7/05 |
10.35S |
$16.75 |
68.26 |
Goldman, Sachs & Co. |
$173.4 |
$1,143.6 |
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OVERALLOTMENT OPTIONS | ||||||||
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Digene Corp. (DIGE)9 |
12/15/04 |
12/15/05 |
0.3S |
$28 |
22.44 |
JP Morgan Securities |
$8.4 |
$628.3 |
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Point Therapeutics Inc. (POTP)10 |
12/17/04 |
12/2/05 |
1.21S |
$3 |
32.75 |
Pacific Growth Equities |
$3.6 |
$98.3 |
| ||||||||
Total: $282.67M | ||||||||
Number of follow-on offerings in December: 5 | ||||||||
Average value of December follow-ons: $54.13M | ||||||||
Number of follow-on offerings in 2005: 59 | ||||||||
Total raised in follow-ons in 2005: $4,079.48M | ||||||||
Average value of follow-ons in 2005: $69.14M | ||||||||
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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 BioAlliance raised 30M in an IPO on the Euronext market in France. Underwriters have an option to purchase up to 338,400 additional shares to cover overallotments. | ||||||||
2 Somaxon raised $55M in an IPO of 5M shares. Underwriters have an option to purchase up to 750,000 additional shares to cover overallotments. | ||||||||
3 The underwriter of ExonHit s IPO in November exercised its option on 172,500 additional shares. Gross proceeds were about 7.8M, including 1.384M shares sold to BioMerieux at the offer price. | ||||||||
4 Biopure raised about $6.9M from a follow-on offering of 10.12M shares. The deal also included 10.12M warrants exercisable at $0.85 per share. Totals include the underwriters purchase of 1.32M additional shares and warrants to cover overallotments. | ||||||||
5 Dendreon raised $51.8M in a follow-on offering of 1 1.5M shares. The totals include the underwriters purchase of 1.5M shares per their overallotment option. | ||||||||
6 Medivation raised $1 1.27M in a follow-on offering of 5.635M shares. The totals include the underwriter s purchase of 1.5M shares per its overallotment option. | ||||||||
7 OxiGene raised $27.3M in a follow-on offering of 7.475M shares. The totals include the underwriters purchase of 0.975M shares per their overallotment option. | ||||||||
8 ViroPharma raised $173.4M in a follow-on offering of 10.35M shares. The totals include the underwriters purchase of 1.35M shares per their overallotment option. | ||||||||
9 Underwriters of Digene s follow-on offering in November exercised their option to purchase another 300,000 shares from the company. The offering totaled 9.275M shares and about $27.8M in gross proceeds. | ||||||||
10 Underwriters of Point Therapeutics follow-on offering in November exercised their option to purchase another 1.21M shares. Proceeds to Digene were $64.4M through the sale of 2.3M shares. Totals do not include 1.2M shares sold in the deal by Armonk Partners. | ||||||||
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II. FILED AND PENDING | ||||||
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Company (Symbol/Proposed Symbol)#* | Date Filed |
Shares/Units (M) | Price Range |
Shares Out (M)@ | Lead, Other Underwriters | Value (M) |
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INITIAL OFFERINGS | ||||||
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Acorda Therapeutics Inc. (ACOR)1 |
10/5/05 |
N/A |
N/A |
N/A | Banc of America | $86.75 |
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Alexza Pharmaceuticals Inc. (ALXA)2 | 12/22/05 | N/A | N/A | N/A | Piper Jaffray & Co. | $86.25 |
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Altus Pharmaceuticals Inc. (ALTU)3 |
10/17/05 | N/A |
N/A | N/A |
Merrill Lynch & Co. | $115 |
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BioNumerik Pharmaceuticals Inc. (BNPI)4 | 6/9/04 |
5S | $14-$16 |
N/A | UBS Investment Bank |
$75 |
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Corus Pharma Inc. (CSPH)5 |
8/27/04 | N/A |
N/A | N/A |
Merrill Lynch & Co. | $100 |
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Glycotex Inc. (GLTX)6 | 9/9/05 |
N/A | N/A |
N/A | Janney Montgomery Scott |
$39 |
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Iomai Corp. (IOMI)7 | 10/3/05 |
N/A | N/A |
N/A | UBS Investment Bank |
$86.25 |
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Molecular Insight Pharmaceuticals Inc. (MIPI)8 | 11/8/05 |
N/A | N/A |
N/A | Piper Jaffray & Co. |
$57.5 |
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SGX Pharmaceuticals Inc. (SGXP)9 |
9/2/05 | N/A |
N/A | N/A |
CIBC World Markets | $80.5 |
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Valera Pharmaceuticals Inc. (VLRX)10 | 3/14/05 |
N/A | N/A |
N/A | UBS Investment Bank |
$74.75 |
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Vanda Pharmaceuticals Inc. (VNDA)11 |
12/29/05 | N/A |
N/A | N/A |
JP Morgan Securities | $75 |
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WITHDRAWN AND POSTPONED | ||||||
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Company (Symbol/Proposed Symbol)#* | Date Filed/Date Pulled | Shares/Units (M) | Price Range | Shares Out (M)@ | Lead, Other Underwriters | Value (M) |
|
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AlgoRx Pharmaceuticals Inc. (AGRX)12 | 11/29/04 | 6.8S | $7-$8 | N/A | Credit Suisse First Boston | $51 |
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Prestwick Pharmaceuticals Inc. (PWCK)13 | 4/22/05 | N/A | N/A | N/A | UBS Investment Bank | $74.75 |
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Voyager Pharmaceutical Corp. (VYGR)14 | 9/9/05 | 4.5S |
$11-$15 | N/A |
WR Hambrecht + Co. | $58.5 |
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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. | ||||||
2 Alexza filed to raise up to $86.25M in an IPO. | ||||||
3 Altus filed to raise up to $1 15M in an IPO. | ||||||
4 BioNumerik filed to raise up to $86.25M in an IPO. It later proposed selling 5M shares at $1 4 to $1 6 per share. The value is based on the midpoint of that price range. | ||||||
5 Corus filed to raise up to $100M in an IPO. | ||||||
6 Glycotex, a subsidiary of Novogen Ltd., filed to raise up to $39M in an IPO. | ||||||
7 Iomai filed to raise up to $86.25M in an IPO. | ||||||
8 Molecular Insight filed to raise up to $57.5M in an IPO. | ||||||
9 SGX filed to raise up to $80.5M in an IPO. | ||||||
10 Valera filed to raise up to $74.75M in an IPO. | ||||||
11 Vanda filed to raise up to $75M in an IPO. | ||||||
12 AlgoRx filed to raise up to $75M in an IPO. The filing was withdrawn following its merger with the public company Corgentech Inc. | ||||||
13 Prestwick cited market conditions in withdrawing its IPO filing. | ||||||
14 Voyager withdrew its IPO filing, after previously lowering the price range and shares offered. | ||||||
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