I. COMMENCED TRADING IN AUGUST

Company
(Symbol)#

Date
Filed

Date
Comm.

Shares/
Units (M)

Price

Shares
Out
(M)@

Lead, Other Underwriters

Gross
(M)

Post-Offering
Market
Cap (M)%


INITIAL OFFERINGS

Advanced Life
Sciences
Holdings Inc.
(ADLS)1

4/28/05

8/4/05

6.4S

$5

17.83

C.E. Unterberg, Towbin, ThinkEquity Partners (co-lead), Merriman Curhan Ford & Co.

$32

$89.2

Coley
Pharmaceutical
Group Inc.
(COLY)2

4/20/05

8/10/05

6.9S

$16

25.70

Merrill Lynch & Co., JP Morgan Securities (co-lead), Lazard Freres & Co., Leerink Swann & Co.

$110.4

$411.2

Total: $142.4M

Number of IPOs in August: 2

Average value of August IPOs: $71.2M

Number of IPOs in 2005: 22

Total raised in IPOs in 2005: $1,117.81M

Average value of IPOs in 2005: $50.81M

FOLLOW-ON OFFERINGS

Company
(Symbol)#

Date
Filed

Date
Comm.

Shares/
Units (M)

Price

Shares
Out(M)@

Lead, Other Underwriters

Gross
(M)

Post- Offering Market Cap (M)%


Alexion
Pharmaceuticals
Inc.
(ALXN)3

5/14/04

8/12/05

2.5S

$26.75

30.69

Morgan Stanley & Co.

$66.88

$821.0

Amylin
Pharmaceuticals
Inc.
(AMLN)4

2/12/04

8/30/05

5.068S

$31

109.78

Goldman, Sachs & Co.

$157.1

$3,403.2

Anadys
Pharmaceuticals
Inc.
(ANDS)5

4/22/05

8/4/05

5.75S

$12.40

32.31

Credit Suisse First Boston, Needham & Co., SG Cowen & Co. (co-lead), Piper Jaffray & Co.

$71.3

$400.6

Ariad
Pharmaceuticals
Inc.
(ARIA)6

12/19/03

8/5/05

8.625

$7.20

61.60

Lehman Brothers, Lazard Capital Markets, SG Cowen & Co.

$62.1

$443.5

CuraGen
Corp.
(CRGN)7

10/17/00

8/10/05

4S

$5.50

55.17

Bear, Stearns & Co.

$22

$303.4

Exelixis
Inc.
(EXEL)8

10/27/04

8/17/05

6.5S

$7.75

83.01

Goldman, Sachs & Co.

$50.4

$643.3

Nastech
Pharmaceutical
Co. Inc.
(NSTK)9

9/30/04

8/25/05

1.725S

$13.50

20.61

Needham & Co., SunTrust Robinson, Humphrey, Delafield Hambrecht

$23.29

$278.2

ZymoGenetics
Inc.
(ZGEN)10

6/17/05

8/4/05

7.5S

$18

65.43

Merrill Lynch & Co., Pacific Growth Equities, Bear, Stearns & Co., Piper Jaffray & Co.

$135

$1,177.7

Total: $588.07M

Number of follow-on offerings in August: 8

Average value of August follow-ons: $73.51M

Number of follow-on offerings in 2005: 34

Total raised in follow-ons in 2005: $2,506.59M

Average value of follow-ons in 2005: $73.72M


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.

1. Advanced Life Sciences raised $32M in an IPO of 6.4M shares. The totals do not include 600,000 shares offered directly to a stockholder in exchange for a $3M reduction in a milestone payment obligation. Underwriters have an option to purchase up to 960,000 additional shares to cover overallotments.

2. Coley raised $110.4M in an IPO of 6.9M shares. The totals do not include $10M invested concurrently by Pfizer Inc. Totals do include the underwriters' purchase of 900,000 shares per their overallotment option.

3. Alexion raised $66.88M in a follow-on offering of 2.5M shares from a shelf registration.

4. Amylin raised $157.1M in a follow-on offering of 5.068M shares.

5. Anadys raised $71.3M in a follow-on offering of 5.75M shares from a shelf registration. The totals include the underwriters' purchase of 750,000 shares per their overallotment option.

6. Ariad raised $62.1M in a follow-on offering of 8.625M shares from a shelf registration. The totals include the purchase of 1.125M shares per the underwriters' overallotment option.

7. CuraGen raised $22M in a follow-on offering of 4M shares from a registration statement filed in 2000.

8. Exelixis raised about $50.4M in a follow-on offering of 6.5M shares from a shelf registration.

9. Nastech raised $23.29M from a follow-on offering of 1.725M shares from a shelf registration.

10. ZymoGenetics raised $135M in a follow-on offering of 7.5M shares from a shelf registration. Underwriters have an option to purchase up to 1.125M additional shares to cover overallotments.

II. FILED AND PENDING

INITIAL OFFERINGS

Accentia Bio-
pharmaceuticals
Inc.
(ABPI)1

2/11/05

N/A

N/A

N/A

Jefferies & Co., Robert W. Baird & Co., Ferris, Baker Watts, Stifel, Nicolaus & Co.

$86.25

AlgoRx
Pharmaceuticals
Inc.
(AGRX)2

11/29/04

6.8S

$7-$8

N/A

Lazard Freres & Co., Credit Suisse First Boston, Citigroup (co-lead), Piper Jaffray & Co.

$51

Avalon
Pharmaceuticals
Inc.
(AVRX)3

5/4/05

N/A

N/A

N/A

Legg Mason Wood Walker, Jefferies & Co.

$57.5

BioNumerik
Pharmaceuticals
Inc.
(BNPI)4

6/9/04

N/A

N/A

N/A

UBS Investment Bank, Needham & Co., Leerink Swann & Co., Punk, Ziegel & Co.

$86.25

CombinatoRx
Inc.
(CRXX)5

12/13/04

N/A

N/A

N/A

SG Cowen & Co., Pacific Growth Equities (co-lead), SunTrust Robinson Humphrey, A.G. Edwards

$100

Corus
Pharma Inc.
(CSPH)6

8/27/04

N/A

N/A

N/A

Merrill Lynch & Co., Pacific Growth Equities, SunTrust Robinson Humphrey, JMP Securities

$100

Genomic
Health Inc.
(GHDX)7

7/15/05

N/A

N/A

N/A

JP Morgan Securities, Lehman Brothers (co-lead), Piper Jaffray & Co., Thomas Weisel Partners, JMP Securities

$75

Intarcia
Therapeutics
Inc.
(ITCA)8

2/7/05

N/A

N/A

N/A

Credit Suisse First Boston, Pacific Growth Equities, Lazard Freres & Co.

$86.25

Predix
Pharmaceuticals
Inc.
(PRDX)9

8/3/05

N/A

N/A

N/A

UBS Investment Bank, Deutsche Bank Securities (co-lead), CIBC World Markets, ThinkEquity Partners

$70

Prestwick
Pharmaceuticals
Inc.
(PWCK)10

4/22/05

N/A

N/A

N/A

UBS Investment Bank, Deutsche Bank Securities, CIBC World Markets

$74.75

Reliant
Pharmaceuticals
Inc.
(NYSE:RRX)11

5/20/05

N/A

N/A

N/A

Goldman, Sachs & Co., Banc of America Securities, Deutsche Bank Securities, JP Morgan Securities, William Blair & Co., Lazard Capital Markets

$300

Sunesis
Pharmaceuticals
Inc.
(SNNS)12

12/23/04

N/A

N/A

N/A

Lehman Brothers, SG Cowen & Co. (co-lead), Needham & Co.

$86.25

Valera
Pharmaceuticals
Inc.
(VLRX)13

3/14/05

N/A

N/A

N/A

UBS Investment Bank, Banc of America (co-lead), First Albany Capital, Fortis Securities

$74.75

WITHDRAWN AND POSTPONED

Company
(Symbol/
Proposed
Symbol)#*

Date
Filed/
Date
Pulled

Shares/
Units
(M)

Price
Range

Shares Out
(M)
@

Lead, Other Underwriters

Value
(M)


Celldex
Therapeutics
Inc.
(CDEX)14

4/09/04/
8/31/05

4S

$8-$10

N/A

Janney Montgomery Scott, ThinkEquity Partners

$36

Kosan
Biosciences
Inc.
(KOSN)15

9/19/03/
8/10/05

4.5S

$8.75

N/A

Credit Suisse First Boston, SG Cowen & Co., CIBC World Markets

$39.4


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.

NYSE = New York Stock Exchange.

1. Accentia filed to raise up to $86.25M in an IPO.

2. AlgoRx filed to raise up to $75M in an IPO. It reduced the price range in February. The value is based on the midpoint of that price range.

3. Avalon filed to raise up to $57.55M in an IPO.

4. BioNumerik filed to raise up to $86.25M in an IPO.

5. CombinatoRx filed to raise up to $100M in an IPO.

6. Corus filed to raise up to $100M in an IPO.

7. Genomic Health filed to raise up to $75M in an IPO.

8. Intarcia filed to raise up to $86.25M in an IPO.

9. Predix filed to raise up to $70M in an IPO.

10. Prestwick filed to raise up to $74.75M in an IPO.

11. Reliant filed to raise up to $300M in an IPO. An undisclosed minority portion of the shares would be sold by an existing shareholder.

12. Sunesis filed to raise up to $86.25M in an IPO.

13. Valera filed to raise up to $74.75M in an IPO.

14. Celldex cited market conditions in withdrawing its IPO filing.

15. Kosan terminated its follow-on offering, which already had been priced, after its stock price declined following concerns over clinical data.

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