I. COMMENCED TRADING IN JUNE | ||||||||
Company |
Date |
Date |
Shares/ |
Price | Shares |
Lead, Other |
Gross |
Post- |
INITIAL OFFERINGS | ||||||||
Devgen NV |
5/20/05 |
6/7/05 |
4.5S |
€7.5 |
13.86 |
KBC Securities, Code Securities, Bank Degroof |
€33.7 |
€104 |
Gentium SpA |
1/24/05 |
6/16/05 |
2.4S |
$9 |
7.70 | Maxim Group, I-Bankers Securities (co-lead) |
$21.6 |
$69.3 |
ProStrakan |
5/19/05 |
6/10/05 |
40S |
£1 |
186.0 |
Morgan Stanley & Co., Credit Suisse First Boston, Code Securities |
£40 |
£186 |
TopoTarget |
5/30/05 |
6/10/05 |
11.5S |
DKK22.5 |
39.93 |
ABN AMRO Rothschild, Danske Markets, Handelsbanken Capital |
DKK259 (US$41.5) |
DKK898 (US$144) |
XenoPort Inc. |
1/19/05 |
6/2/05 |
5S |
$10.5 |
19.23 |
Morgan Stanley & Co., Deutsche Bank Securities (co-lead), Pacific Growth Equities, Lazard Freres & Co. |
$52.5 |
$201.9 |
OVERALLOTMENTS | ||||||||
Galapagos NV |
4/15/05 |
6/3/05 |
0.29S |
€7 |
9.17 |
KBC Securities, Kempen & Co. (co-lead), Fortis Bank |
€2 |
€64.2 |
Total: $231.20M | ||||||||
Number of IPOs in June: 5 | ||||||||
Average value of June IPOs: $45.74M | ||||||||
Number of IPOs in 2005: 19 | ||||||||
Total raised in IPOs in 2005: $965.86M | ||||||||
Average value of IPOs in 2005: $50.83M | ||||||||
FOLLOW-ON OFFERINGS | ||||||||
CV Therapeutics |
6/22/05 |
6/29/05 |
7.3S |
$21.60 |
43.40 |
Lehman Brothers, Merrill Lynch & Co. (co-lead), Piper Jaffray & Co., SG Cowen & Co., First Albany Capital |
$157.7 |
$937.4 |
Progenics |
5/26/04 |
6/10/05 |
1.53S |
$19.25 |
20.81 |
UBS Investment Bank |
$29.5 |
$400.6 |
Vertex |
4/1/05 |
6/7/05 |
13.51S |
$13 |
94.71 |
Merrill Lynch, JP Morgan Securities, UBS Securities |
$175.6 |
$1,231.2 |
OVERALLOTMENTS | ||||||||
SeraCare |
4/18/05 |
6/1/05 |
0.454S |
$12.25 |
13.43 |
CIBC World Markets, Thomas Weisel Partners, William Blair & Co. |
$5.56 |
$164.5 |
Total: $368.36M | ||||||||
Number of follow-on offerings in June: 3 | ||||||||
Average value of June follow-ons: $120.93M | ||||||||
Number of follow-on offerings in 2005: 22 | ||||||||
Total raised in follow-ons in 2005: $1,537.20M | ||||||||
Average value of follow-ons in 2005: $69.87M | ||||||||
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. | ||||||||
AMEX = American Stock Exchange; CSE = Copenhagen Stock Exchange; LSE = London Stock Exchange. | ||||||||
Currency conversions are based on exchange rates at the time of the deal. | ||||||||
1. Devgen raised €33.7M in an IPO of 4.5M shares on the Euronext exchange in Belgium. The totals include an underwriters' purchase of shares and exercise of warrants under an overallotment option. | ||||||||
2. Gentium raised $21.6M in an IPO of 2.4M American depository shares, each of which represents one common share. Underwriters have an option to purchase up to 360,000 additional shares to cover overallotments. | ||||||||
3. ProStrakan raised £40M (US$72.9M) in an IPO of 40M shares on the London Stock Exchange. | ||||||||
4. TopoTarget raised DKK259M (US$41.5M) in an IPO on the Copenhagen Stock Exchange. The totals include the purchase of 1.5M shares per the underwriters' overallotment option. | ||||||||
5. XenoPort raised $52.5M in an IPO of 5M shares. Underwriters have an option to purchase up to 750,000 additional shares to cover overallotments. | ||||||||
6. Underwriters of Galapagos' IPO in May exercised their option on 289,795 addtional shares, bringing the totals to about 3.15M shares and €22M in gross proceeds. The totals do not include €0.4M raised concurrently through the exercise of warrants. | ||||||||
7. CV Therapeutics raised $157.7M in a follow-on offering of 7.3M shares. Underwriters have an option to purchase up to 1.05M additional shares to cover overallotments. Concurrently, the company raised $130M from the sale of convertible notes. | ||||||||
8. Progenics raised $29.5M in a follow-on offering of 1.532M shares. Progenics completed a $30.5M offering from the same shelf registration in April. | ||||||||
9. Vertex raised about $175.6M in a follow-on offering of 13.51M shares. The totals include the underwriters' purchase of 1,762,500 shares per their overallotment option. | ||||||||
10. Underwriters of SeraCare's follow-on offering in May exercised their option on 525,000 additional shares (453,600 shares from the company) to cover overallotments. The offering totaled about 3.48M shares and $42.6M in proceeds to the company. Totals do not include shares sold in the deal by an existing shareholder. | ||||||||
II. FILED AND PENDING |
Company |
Date |
Shares/ |
Price |
Shares |
Lead, Other |
Value |
INITIAL OFFERINGS | ||||||
Accentia Bio- |
2/11/05 |
N/A |
N/A |
N/A |
Jefferies & Co., |
$86.25 |
Advanced Life |
4/28/05 |
N/A |
N/A |
N/A |
C.E. Unterberg, Towbin, ThinkEquity Partners (co-lead) |
$86.25 |
AlgoRx |
11/29/04 |
6.8S |
$7-$8 |
N/A |
Credit Suisse First Boston, Citigroup (co-lead), Piper Jaffray & Co., Lazard Freres & Co. |
$51 |
Avalon |
5/4/05 |
N/A |
N/A |
N/A |
Legg Mason Wood Walker, Jefferies & Co. |
$57.5 |
BioNumerik |
6/9/04 |
N/A |
N/A |
N/A |
UBS Investment Bank, Needham & Co., Leerink Swann & Co., Punk, Ziegel &Co. |
$86.25 |
Celldex |
4/09/04 |
N/A |
N/A |
N/A |
Janney Montgomery Scott |
$50 |
Coley |
4/20/05 |
N/A |
N/A |
N/A |
Merrill Lynch & Co., JP Morgan Securities (co-lead), Lazard Freres & Co., Leerink Swann & Co. |
$115 |
CombinatoRx |
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 |
8/27/04 |
N/A |
N/A |
N/A |
Merrill Lynch & Co., Pacific Growth Equities, SunTrust Robinson Humphrey, JMP Securities |
$100 |
Intarcia |
2/7/05 |
N/A |
N/A |
N/A |
Credit Suisse First Boston, Pacific Growth Equities, Lazard Freres & Co. |
$86.25 |
Prestwick |
4/22/05 |
N/A |
N/A |
N/A |
UBS Investment Bank, Deutsche Bank Securities, CIBC World Markets |
$74.75 |
Reliant |
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 |
Salmedix Inc. |
4/23/04 |
N/A |
N/A |
N/A |
SG Cowen & Co., Pacific Growth Equities (co-lead), JMP Securities, ThinkEquity Partners |
$86.25 |
Sunesis |
12/23/04 |
N/A |
N/A |
N/A |
Lehman Brothers, SG Cowen & Co. (co-lead), Needham & Co. |
$86.25 |
Synta |
1/18/05 |
6S |
$14-$16 |
N/A |
Morgan Stanley & Co., Lehman Bothers, Lazard Freres & Co. |
$90 |
Valera |
3/14/05 |
N/A |
N/A |
N/A |
UBS Investment Bank, Banc of America (co-lead), First Albany Capital, Fortis Securities |
$74.75 |
FOLLOW-ON OFFERINGS | ||||||
Allos |
3/5/04 |
N/A |
N/A |
N/A |
N/A |
$75 |
Anadys |
4/22/05 |
N/A |
N/A |
N/A |
N/A |
$75 |
Antigenics |
8/12/04 |
N/A |
N/A |
N/A |
N/A |
$100 |
Avanir |
6/20/05 |
N/A |
N/A |
N/A |
N/A |
$100 |
Biomira Inc. |
7/14/04 |
N/A |
N/A |
N/A |
N/A |
$100 |
CancerVax |
11/8/04 |
N/A |
N/A |
N/A |
N/A |
$80 |
Cephalon Inc. |
2/6/04 |
N/A |
N/A |
N/A |
N/A |
$1B |
Cytokinetics |
6/14/05 |
N/A |
N/A |
N/A |
N/A |
$100 |
Encysive |
6/7/04 |
N/A |
N/A |
N/A |
N/A |
$150 |
Exelixis |
10/27/04 |
N/A |
N/A |
N/A |
N/A |
$200 |
Geron Corp. |
5/5/04 |
N/A |
N/A |
N/A |
N/A |
$150 |
Immunicon |
5/6/05 |
N/A |
N/A |
N/A |
N/A |
$75 |
Keryx Bio- |
9/29/04 |
5S |
$11.45 |
N/A |
N/A |
$57.3 |
Myogen Inc. |
6/3/05 |
N/A |
N/A |
N/A |
N/A |
$125 |
Nabi Bio- |
12/7/04 |
N/A |
N/A |
N/A |
N/A |
$175 |
Nektar |
3/8/04 |
9.5S |
$22.13 |
N/A |
Lehman Brothers |
$210.2 |
Point |
12/17/04 |
N/A |
N/A |
N/A |
N/A |
$50 |
RegeneRx Bio- |
6/16/05 |
N/A |
N/A |
N/A |
N/A |
$60 |
Santarus |
5/12/05 |
N/A |
N/A |
N/A |
N/A |
$75 |
Seattle Genetics |
11/23/04 |
N/A |
N/A |
N/A |
N/A |
$75 |
Sonus |
4/1/05 |
N/A |
N/A |
N/A |
N/A |
$50 |
Targeted |
6/17/04 |
16.3S |
$1.51 |
N/A |
N/A |
$24.6 |
Titan |
2/6/04 |
N/A |
N/A |
N/A |
N/A |
$50 |
United |
2/10/05 |
5S |
$44.57 |
N/A |
N/A |
$222.9 |
V.I. |
5/13/05 |
N/A |
N/A |
N/A |
N/A |
$50 |
Vion |
12/14/04 |
N/A |
N/A |
N/A |
N/A |
$75 |
ZymoGenetics |
6/17/05 |
N/A |
N/A |
N/A |
N/A |
$200 |
Notes: | ||||||
# Unless otherwise indicated, shares are traded on the Nasdaq exchange; shelf registrations that have been inactive more than 12-14 months may be removed from the listing. | ||||||
* 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. | ||||||
AMEX = American Stock Exchange; NYSE = New York Stock Exchange. | ||||||
1. Accentia filed to raise up to $86.25M in an IPO. | ||||||
2. Advanced Life Sciences filed to raise up to $86.25M in an IPO. | ||||||
3. 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. | ||||||
4. Avalon filed to raise up to $57.55M in an IPO. | ||||||
5. BioNumerik filed to raise up to $86.25M in an IPO. | ||||||
6. Celldex filed to raise $50M in an IPO. After the sale Medarex Inc. would own about 75% of the company. | ||||||
7. Coley filed to raise up to $115M in an IPO. | ||||||
8. CombinatoRx filed to raise up to $100M in an IPO. | ||||||
9. Corus filed to raise up to $100M in an IPO. | ||||||
10. Intarcia filed to raise up to $86.25M in an IPO. | ||||||
11. Prestwick filed to raise up to $74.75M in an IPO. | ||||||
12. Reliant filed to raise up to $300M in an IPO. An undisclosed minority portion of the shares would be sold by an existing shareholder. | ||||||
13. Salmedix filed to raise up to $86.25M in an IPO. The company on May 12 announced an agreement to be acquired by Cephalon Inc. for $160M. | ||||||
14. Sunesis filed to raise up to $86.25M in an IPO. | ||||||
15. Synta filed to raise up to $115M in an IPO. It set the price range and shares on April 22. The value is based on the midpoint of that estimate. The company said on May 3 it was postponing the IPO. | ||||||
16. Valera filed to raise up to $74.75M in an IPO. | ||||||
17. Allos filed a shelf registration statement to sell up to $75M of various securities. It placed $52M in convertible stock in March. | ||||||
18. Anadys filed a shelf registration statement to sell up to $75M of common stock. | ||||||
19. Antigenics filed a shelf registration statement to sell up to $100M in various securities. It sold $50M in notes in January. | ||||||
20. Avanir filed a shelf registration statement covering the sale of up to $100M in various securities. | ||||||
21. Biomira filed a shelf registration statement in both Canada and the U.S. to sell up to $100M of securities. It placed $12.57M in stock in December. | ||||||
22. CancerVax filed a shelf registration statement to sell up to $80M in common stock. | ||||||
23. Cephalon filed a $1B universal shelf registration statement covering the sale of various securities. It sold $800M in convertible notes in June. | ||||||
24. Cytokinetics filed a shelf registration statement covering up to $100M in various securities. | ||||||
25. Encysive filed a shelf registration statement to sell up to $150M in various securities. It raised $36.5M through the sale of 4.6M shares in September. | ||||||
26. Exelixis filed a shelf registration statement covering up to $200M in various securities. | ||||||
27. Geron filed a shelf registration statement covering the sale of up to $150M of various securities. It sold $40M in stock and warrants in November, and $4M more in April. | ||||||
28. Immunicon filed a shelf registration statement covering up to $75M in various securities. It placed $17.9M in stock on June 30. | ||||||
29. Keryx filed to sell up to 5M shares. The value is based on the Sept. 29 closing price. | ||||||
30. Myogen filed a universal shelf registration statement covering the sale of $125M of various securities. | ||||||
31. Nabi filed a shelf registration statement to sell up to $175M in various securities. | ||||||
32. Nektar said on March 8, 2004, it was selling 9.5M shares from an existing shelf registration statement. The value is based on the closing price that day. | ||||||
33. Point Therapeutics filed a shelf registration statement to sell up to $50M of common stock and warrants. It raised $16.43M in March through the sale of 3.65M shares. | ||||||
34. RegeneRx filed a shelf registration statement covering the sale of up to $60M in common stock and warrants. | ||||||
35. Santarus filed a shelf registration statement to sell up to $75M in debt or equity securities. | ||||||
36. Seattle Genetics filed a shelf registration statement to sell up to $75M in stock. | ||||||
37. Sonus filed a shelf registration statement to sell up to $50M in common stock. | ||||||
38. Targeted Genetics filed a shelf registration statement to sell up to 16.3M shares. The value is based on the June 17, 2004, closing price. It raised $6M in a private placement in January. | ||||||
39. Titan filed a shelf registration statement for the sale of up to $50M in common or preferred stock. It privately placed $15M in stock in March 2004. | ||||||
40. United Therapeutics filed a shelf registration statement covering 5M shares. The value is based on the Feb. 10 closing price. | ||||||
41. V.I. Technologies filed a shelf registration statement covering up to $50M of equity securities. | ||||||
42. Vion filed a shelf registration statement covering up to $75M of common stock and warrants. It raised $32.5M through the sale of 10M shares on Jan. 26. | ||||||
43. ZymoGenetics filed a shelf registration statement covering the sale of up to $200M of common stock. |