I. COMMENCED TRADING IN SEPTEMBER | ||||||||
Company |
Date Filed | Date Comm. |
Shares/ |
Price | Shares Out (M)@ | Lead, Other Underwriters | Gross (M) |
Post- Offering Market Cap (M)% |
| ||||||||
INITIAL OFFERINGS | ||||||||
CoTherix Inc. (CTRX)1 |
3/11/04 |
10/15/04 |
5S |
$6 |
19.59 |
CIBC World Markets, Piper Jaffray & Co. (co-lead), Needham & Co., Thomas Weisel Partners, |
$30 |
$117.5 |
Theravance Inc. (THRX)2 |
6/10/04 |
10/5/04 |
6.15S |
$16 |
42.61 |
Merrill Lynch & Co., Lehman Brothers (co- lead), Credit Suisse First Boston, Thomas Weisel Partners, |
$98.4 |
$681.7 |
Total: $128.4M | ||||||||
Number of IPOs in October: 2 | ||||||||
Average value of October IPOs: $64.2M | ||||||||
Number of IPOs in 2004: 35 | ||||||||
Total raised in IPOs in 2004: $2,002.02M | ||||||||
Average value of IPOs in 2004: $57.20M | ||||||||
FOLLOW-ON OFFERINGS | ||||||||
Company |
Date Filed | Date Comm. |
Shares/ |
Price | Shares Out (M)@ | Lead, Other Underwriters | Gross (M) |
Post-Offering Market Cap (M)% |
| ||||||||
Pain |
5/11/04 |
10/7/04 |
8S |
$7.25 |
43.61 |
Citigroup Global Markets, UBS Securities (co-lead), CIBC World Markets, Rodman & Renshaw |
$58 |
$316.2 |
Xcyte |
10/7/04 |
10/29/04 |
2.6S |
$10 |
25.88 |
Piper Jaffray & Co., JMP Securities |
$26 |
$60.8 |
Total: $84M | ||||||||
Number of follow-on offerings in October: 2 | ||||||||
Average value of October follow-ons: $42M | ||||||||
Number of follow-on offerings in 2004: 35 | ||||||||
Total raised in follow-ons in 2004: $2,382.31M | ||||||||
Average value of follow-ons in 2004: $68.07M | ||||||||
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. CoTherix sold 5M shares at $6 each, following the postponement of the IPO in June. Underwriters have an option to purchase another 750,000 shares to cover overallotments. | ||||||||
2. Theravance raised $98.4M in an IPO of 6.15M shares. Underwriters have an option to purchase another 922,500 shares to cover overallotments. | ||||||||
3. Pain Therapeutics raised $58M in a follow-on offering of 8M shares. Underwriters have an option to purchase another 1.2M shares to cover overallotments. | ||||||||
4. Xcyte sold 2.6M shares of 6% convertible exchangeable preferred stock, with an initial conversion price of $2.35 per common share. Underwriters have an option to purchase up to 390,000 additional shares to cover overallotments. | ||||||||
II. FILED AND PENDING |
Company |
Date Filed |
Shares/Units (M) |
Price Range |
Shares Out (M)@ |
Lead, Other Underwriters |
Value (M) |
INITIAL OFFERINGS | ||||||
BioNumerik |
6/9/04 |
N/A |
N/A |
N/A |
UBS Investment Bank, Needham & Co., Leerink Swann & Co., Punk, Ziegel & Co. |
$86.25 |
CardioVascular |
9/27/04 |
2S |
$10 |
N/A |
First Dunbar Securities |
$20 |
Celldex |
4/09/04 |
N/A |
N/A |
N/A |
Janney Montgomery Scott |
$50 |
Corus |
8/27/04 |
N/A |
N/A |
N/A |
Merrill Lynch & Co., Pacific Growth Equities, SunTrust Robinson Humphrey, JMP Securities |
$100 |
Favrille Inc. |
4/8/04 |
N/A |
N/A |
N/A |
Piper Jaffray & Co., Needham & Co., William Blair & Co., First Albany Capital |
$86.25 |
Icagen Inc. |
4/8/04 |
N/A |
N/A |
N/A |
UBS Investment Bank (co-lead), JP Morgan Securities (co- lead), CIBC World Markets, |
$86.25 |
MediciNova |
10/1/04 |
N/A |
N/A |
N/A |
Daiwa Securities SMBC |
$100 |
Peninsula |
12/16/03 |
N/A |
N/A |
N/A |
Credit Suisse First Boston, First Albany Capital, Piper Jaffray & Co., Citigroup |
$86.25 |
Salmedix Inc. |
4/23/04 |
N/A |
N/A |
N/A |
SG Cowen & Co. (co-lead), Pacific Growth Equities (co- lead), JMP Securities, ThinkEquity Partners |
$86.25 |
Targacept |
5/14/04 |
N/A |
N/A |
N/A |
Morgan Stanley, Deutsche Bank Securities, CIBC World Markets, Pacific Growth Equities |
$86.25 |
Threshold |
4/9/04 |
N/A |
N/A |
N/A |
Banc of America Securities (co-lead), CIBC World Markets (co-lead), Lazard Freres & Co., William Blair & Co. |
$86.25 |
ViaCell Inc. |
4/5/04 |
N/A |
N/A |
N/A | Credit Suisse First Boston (co-lead), UBS Investment Bank (co- lead), Lazard Freres & Co., Leerink Swann & Co. |
$92 |
FOLLOW-ON OFFERINGS | ||||||
Abgenix Inc. |
3/17/04 |
N/A |
N/A |
N/A |
N/A |
$250 |
Alexion |
11/26/03 |
N/A |
N/A |
N/A |
N/A |
$150 |
Allos |
3/5/04 |
N/A |
N/A |
N/A |
N/A |
$75 |
Alteon Inc. |
6/13/03 |
N/A |
N/A |
N/A |
N/A |
$100 |
Amgen Inc. |
8/5/03 |
N/A |
N/A |
N/A |
N/A |
$1B |
Amylin |
12/11/03 |
N/A |
N/A |
N/A |
N/A |
$300 |
Antigenics |
8/12/04 |
N/A |
N/A |
N/A |
N/A |
$100 |
Arena |
5/20/04 |
N/A |
N/A |
N/A |
N/A |
$50 |
ArQule Inc. |
12/16/03 |
N/A |
N/A |
N/A |
N/A |
$50 |
Array BioPharma |
4/22/04 |
N/A |
N/A |
N/A |
N/A |
$70 |
Atrix |
1/16/04 |
N/A |
N/A |
N/A |
N/A |
$150 |
Avanir |
4/12/04 |
N/A |
N/A |
N/A |
N/A |
$50 |
Avant Immuno- |
10/9/03 |
15S and/or 2.25W |
$2.66 |
N/A |
N/A |
$39.9 |
BioCryst |
12/16/03 |
N/A |
N/A |
N/A |
N/A |
$60 |
Bioenvision |
10/25/04 |
N/A |
N/A |
N/A |
N/A |
$90 |
Biomira Inc. |
7/14/04 |
N/A |
N/A |
N/A |
N/A |
$100 |
Cambridge |
7/30/03 |
N/A |
N/A |
N/A |
N/A |
$175 |
Cel-Sci Corp. |
12/19/03 |
N/A |
N/A |
N/A |
N/A |
$50 |
Cephalon Inc. |
2/6/04 |
N/A |
N/A |
N/A |
N/A |
$1B |
Cubist |
9/29/04 |
N/A |
N/A |
N/A |
N/A |
$100 |
Curis Inc. |
12/23/03 |
N/A |
N/A |
N/A |
N/A |
$40 |
CV Therapeutics |
10/1/03 |
N/A |
N/A |
N/A |
N/A |
$300 |
Discovery |
12/19/03 |
6.5S |
$9.67 |
N/A |
N/A |
$62.9 |
Dyax Corp. |
3/11/04 |
7.5S |
$13.78 |
N/A |
N/A |
$103.4 |
Emisphere |
7/8/04 |
5S |
$3.53 |
N/A |
N/A |
$17.7 |
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 |
Gen-Probe Inc. |
9/2/03 |
N/A |
N/A |
N/A |
N/A |
$150 |
Genta Inc. |
4/2/04 |
15S |
$11.59 |
N/A |
N/A |
$173.9 |
Geron Corp. |
5/5/04 |
N/A |
N/A |
N/A |
N/A |
$150 |
Gilead Sciences |
12/22/03 |
N/A |
N/A |
N/A |
N/A |
$500 |
GTC |
12/23/03 |
N/A |
N/A |
N/A |
N/A |
$40 |
Hollis-Eden |
7/25/03 |
5S |
$14.39 |
N/A |
N/A |
$71.95 |
Incyte Corp. |
10/7/04 |
N/A |
N/A |
N/A |
N/A |
$175 |
ISTA |
4/23/04 |
N/A |
N/A |
N/A |
N/A |
$75 |
Keryx Bio-pharmaceuticals |
9/29/04 |
5S |
$11.45 |
N/A |
N/A |
$57.3 |
Kosan |
9/19/03 |
N/A |
N/A |
N/A |
N/A |
$75 |
Martek |
5/21/04 |
N/A |
N/A |
N/A |
N/A |
$200 |
Maxim |
12/31/03 |
N/A |
N/A |
N/A |
N/A |
$75 |
Meridian |
9/26/03 |
N/A |
N/A |
N/A |
N/A |
$60 |
Nastech |
9/30/04 |
N/A |
N/A |
N/A |
N/A |
$80 |
Nektar |
3/8/04 |
9.5S |
$22.13 |
N/A |
Lehman Brothers |
$210.2 |
Neose |
6/23/03 |
N/A |
N/A |
N/A |
N/A |
$75 |
Orchid |
1/13/04 |
N/A |
N/A |
N/A |
N/A |
$30 |
Orphan Medical |
4/14/04 |
4S |
$11.17 |
N/A |
N/A |
$44.7 |
OSI |
9/23/04 |
5.5S |
$66.64 |
N/A |
Merrill Lynch & Co. (co-lead), Morgan Stanley (co-lead), Banc of America Securities, Bear, Stearns & Co., Lazard Freres & Co. |
$366.5 |
OxiGene Inc. |
10/3/03 |
N/A |
N/A |
N/A |
N/A |
$50 |
Peregrine |
10/24/03 |
12S |
$2.15 |
N/A |
N/A |
$25.8 |
Pozen Inc. |
2/3/04 |
8.54S |
$11.91 |
N/A |
N/A |
$101.7 |
Progenics |
5/26/04 |
N/A |
N/A |
N/A |
N/A |
$60 |
Sequenom |
1/30/04 |
N/A |
N/A |
N/A |
N/A |
$50 |
Serologicals |
7/21/04 |
N/A |
N/A |
N/A |
N/A |
$300 |
Tapestry |
8/11/03 |
6.5S/1S |
$1.24/$8.06 |
N/A |
N/A |
$16.12 |
Targeted |
6/17/04 |
16.3S |
$1.51 |
N/A |
N/A |
$24.6 |
Telik Inc. |
4/9/04 |
N/A |
N/A |
N/A |
N/A |
$200 |
Titan |
2/6/04 |
N/A |
N/A |
N/A |
N/A |
$50 |
Vical Inc. (VICL)69 |
8/15/03 |
N/A |
N/A |
N/A |
N/A |
$50 |
Zonagen Inc. |
10/20/04 |
4S |
$3.79 |
N/A |
Punk, Ziegel & Co. |
$15.2 |
|
|
|
|
|
|
|
Notes: | ||||||
# Unless otherwise indicated, shares are traded on the Nasdaq exchange. | ||||||
* 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. | ||||||
1. BioNumerik filed to raise up to $86.25M in an IPO. | ||||||
2. CardioVascular registered to sell 2M shares at $10 each in an IPO. | ||||||
3. Celldex filed to raise $50M in an IPO. After the sale Medarex Inc. would own about 75 percent of the company. | ||||||
4. Corus filed to raise up to $100M in an IPO. | ||||||
5. Favrille filed to raise up to $86.25M in an IPO. | ||||||
6. Icagen filed to raise up to $86.25M in an IPO. | ||||||
7. MediciNova filed to raise up to $100 in an IPO on the Tokyo Stock Exchange. | ||||||
8. Peninsula filed to raise up to $86.25M in an IPO. | ||||||
9. Salmedix filed to raise up to $86.25M in an IPO. | ||||||
10. Targacept filed to raise up to $86.25M in an IPO. | ||||||
11. Threshold filed to raise up to $86.25M in an IPO. | ||||||
12. ViaCell, after pulling its proposed initial offering in December 2003, filed again, aiming to raise up to $92M. | ||||||
13. Abgenix filed a shelf registration statement to sell up to $250M in various securities. | ||||||
14. Alexion filed a shelf registration statement to sell up to $150M in various securities. It raised $77.5M through the sale of 5M shares on July 20. | ||||||
15. Allos filed a shelf registration statement to sell up to $75M of various securities. | ||||||
16. Alteon filed a shelf registration statement to sell up to $100M of securities; it reached agreements in October 2003 to sell up to 6M shares for gross proceeds of up to $10.7M, and in June to sell 8M shares to raise $8M. | ||||||
17. Amgen filed a shelf registration statement to sell up to $1B in various securities. | ||||||
18. Amylin filed a shelf registration statement to sell up to $300M in various securities. | ||||||
19. Antigenics filed a shelf registration statement to sell up to $100M in various securities. | ||||||
20. Arena filed a shelf registration statement to sell up to $50M of stock. | ||||||
21. ArQule filed a shelf registration statement to sell up to $50M in various securities. | ||||||
22. Array filed a shelf registration statement to sell up to $70M in common stock, preferred stock and/or warrants. | ||||||
23. Atrix filed a shelf registration statement to sell up to $150M in various securities. | ||||||
24. Avanir filed a shelf registration statement to sell up to $50M in Class A common stock. It raised $25M in May through the sale of 19.7M Class A shares. | ||||||
25. Avant registered to sell up to 15M shares and/or 2.25M warrants through a shelf registration statement. The value is based on the Oct. 9 closing price. On Feb. 3 it raised about $25M through the private placement of 8.965M shares. | ||||||
26. BioCryst filed a shelf registration statement to sell up to $60M in common stock. It raised $21.4M in a direct offering in February. | ||||||
27. Bioenvision filed a shelf registration statement covering the sale of up to $90M of stock. | ||||||
28. Biomira filed a shelf registration statement in both Canada and the U.S. to sell up to $100M of securities. | ||||||
29. Cambridge Antibody registered to sell up to $175M in common stock or American depository shares. | ||||||
30. Cel-Sci filed a shelf registration statement to sell up to $50M in common stock. It raised $5.25M in a private placement in May. | ||||||
31. Cephalon filed a $1B universal shelf registration statement covering the sale of various securities. | ||||||
32. Cubist filed a shelf registration statement to sell up to $100M of stock. | ||||||
33. Curis filed a shelf registration statement covering the sale of up to $40M of various securities. | ||||||
34. CV Therapeutics filed a shelf registration statement to sell up to $300M in various securities. | ||||||
35. Discovery Laboratories filed a shelf registration statement to sell up to 6.5M shares of common stock. The value is based on the Dec. 18 closing price. | ||||||
36. Dyax filed a shelf registration statement to sell up to 7.5M shares. The value is based on the March 10 closing price. | ||||||
37. Emisphere filed a shelf registration statement covering 5M shares. The value is based on the July 7 closing price. | ||||||
38. 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. | ||||||
39. Exelixis filed a shelf registration statement covering up to $200M in various securities. | ||||||
40. Gen-Probe filed to sell up to $150M of various debt or equity securities. | ||||||
41. Genta filed a shelf registration statement to sell up to 15M shares of stock. The value is based on the April 1 closing price. | ||||||
42. Geron filed a shelf registration statement covering the sale of up to $150M of various securities. | ||||||
43. Gilead filed a shelf registration statement covering the sale of up to $500M of various securities. | ||||||
44. GTC filed a shelf registration statement covering the sale of up to $40M in common stock. It raised $15M from a private placement of 6.4M shares in March. | ||||||
45. Hollis-Eden filed a shelf registration statement to sell up to 5M common shares and warrants. The value is based on the proposed maximum offering price. The company offered 2.5M shares publicly in September 2003, raising $62.5M and leaving 2.5M shares on the shelf. | ||||||
46. Incyte filed a shelf registration statement covering the sale of up to $175M of common stock. | ||||||
47. ISTA filed a shelf registration statement to sell up to $75M in securities. The registration also includes up to 3.6M shares from existing shareholders. ISTA privately placed $13.3M in stock in August. | ||||||
48. Keryx filed to sell up to 5M shares. The value is based on the Sept. 29 closing price. | ||||||
49. Kosan filed to sell up to $75M in common stock. It sold $28M in shares in a direct offering in December. | ||||||
50. Martek filed a shelf registration statement to sell up to $200M in various securities. | ||||||
51. Maxim filed a shelf registration statement to sell up to $75M in various securities. | ||||||
52. Meridian filed a $60M shelf registration statement covering the sale of various securities. | ||||||
53. Nastech filed a shelf registration statement to sell up to $80M in various securities. | ||||||
54. Nektar said on March 8 it was selling 9.5M shares from an existing shelf registration statement. The value is based on the March 8 closing price. | ||||||
55. Neose filed a shelf registration statement to sell up to $75M of common stock. It raised $31.8M from a direct placement of shares at $6.77 each in May. | ||||||
56. Orchid filed a shelf registration statement to sell up to $30M in common stock. | ||||||
57. Orphan Medical filed a shelf registration statement covering 4M common shares. The value is based on the April 13 closing price. | ||||||
58. OSI registered to sell 5.5M shares. The value is based on the Sept. 23 closing price. | ||||||
59. OxiGene filed a shelf registration statement to sell up to $50M of various securities. OxiGene raised $24.2M through a private placement in January. | ||||||
60. Peregrine filed a shelf registration statement to sell up to 12M shares. The value is based on a price of $2.15 per share, the price at the time of the filing. | ||||||
61. Pozen registered to sell 8.54M shares, including an overallotment option, at a maximum price of $11.91 each. | ||||||
62. Progenics filed a shelf registration statement to sell up to $60M of common stock. | ||||||
63. Sequenom filed a shelf registration statement to sell up to $50M in stock and warrants. | ||||||
64. Serologicals filed a shelf registration statement to sell up to $300M in various securities. | ||||||
65. Tapestry filed a shelf registration statement to sell up to 6.5M shares of common stock at up to $1.24 per share and 1M shares of preferred stock at up to $8.06 per share. It raised $5.2M from a private stock sale in March. | ||||||
66. Targeted Genetics filed a shelf registration statement to sell up to 16.3M shares. The value is based on the June 17 closing stock price. | ||||||
67. Telik filed a shelf registration statement for the sale of up to $200M in common stock. | ||||||
68. 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. | ||||||
69. Vical filed a shelf registration statement covering up to $50M of common and/or preferred stock. It raised $18.6M through a direct sale of 3.4M shares in March. | ||||||
70. Zonagen registered to sell 4M shares. The value is based on the Oct. 20 closing price. |