Underwriter

Biotechnology
Company (Symbol)

Date
Priced

Offering
Price Per
Share

7/16/04
Share Price

Offering
Gross (M)

After-Market
Performance (%)


Adams, Harkness
& Hill

Acadia
Pharmaceuticals
Inc. (ACAD) (IPO)

5/26/04

$7

$6.30

$35

-10%

Ariad
Pharmaceuticals
Inc. (ARIA)

3/24/04

$8.50

$5.40

$43

-36%

Immunicon Corp.
(IMMC) (IPO)

4/15/04

$8

$8.15

$55.2

+2%

Isolagen
Inc. (AMEX:ILE)

6/10/04

$8.50

$9.14

$61.2

+8%

A.G. Edwards
& Sons

Vasogen Inc.
(VSGN)

2/27/04

$5.90

$4.50

$57.7

-24%

Banc of America
Securities

Acadia
Pharmaceuticals
Inc. (ACAD)
(IPO; co-lead)

5/26/04

$7

$6.30

$35

-10%

Alnylam Pharmaceuticals
Inc. (ALNY) (IPO; lead)

5/27/04

$6

$7

$34.5

+17%

Barrier Therapeutics
Inc. (BTRX) (IPO)

4/29/04

$15

$13.53

$75

-10%

Memory Pharmaceuticals
Inc. (MEMY) (IPO)

4/5/04

$7

$8.01

$40.25

+14%

Momenta
Pharmaceuticals Inc.
(MNTA) (IPO; co-lead)

6/21/04

$6.50

$8.53

$40

+31%

Seattle Genetics
Inc. (SGEN) (co-lead)

2/5/04

$8.25

$5.60

$66.4

-32%

Bear, Stearns
& Co.

Bone Care
International Inc.
(BCII) (co-lead)

5/13/04

$21.75

$25.05

$97.9

+15%

Bruker BioSciences
Corp. (BRKR) (co-lead)

4/23/04

$4.50

$4.15

$15.5

-8%

Dynavax
Technologies Corp.
(DVAX) (IPO; co-lead)

2/18/04

$7.50

$5.50

$51.75

-27%

Eyetech
Pharmaceuticals
Inc. (EYET) (IPO)

1/29/04

$21

$40.10

$156.98

+91%

Pharmion Corp.
(PHRM)

7/1/04

$48

$42.58

$253.9

-11%

Brean Murray
& Co.

Genitope Corp.
(GTOP)

5/27/04

$8.50

$9.91

$59.5

+17%

C.E. Unterberg,
Towbin

Cepheid Inc.
(CEPH)

2/12/04

$11.25

$9.95

$61.88

-12%

CIBC World
Markets

Corgentech Inc.
(CGTK) (IPO)

2/12/04

$16

$15.80

$96

-1%

Critical
Therapeutics Inc.
(CRTX) (IPO)

5/27/04

$7

$6.94

$42

-1%

Cypress Bioscience
Inc. (CYPB)

4/2/04

$11.50

$11.51

$79.35

+0%

Guilford
Pharmaceuticals Inc.
(GLFD)

7/1/04

$4.50

$4.53

$45

+1%

Isolagen Inc.
(AMEX:ILE) (co-lead)

6/10/04

$8.50

$9.14

$61.2

+8%

Momenta
Pharmaceuticals Inc.
(MNTA) (IPO)

6/21/04

$6.50

$8.53

$40

+31%

Nuvelo Inc.
(NUVO)

3/3/04

$13

$8.55

$74.75

-34%

Renovis Inc.
(RNVS) (IPO)

2/5/04

$12

$8.60

$66

-28%

Seattle Genetics
Inc. (SGEN) (co-lead)

2/5/04

$8.25

$5.60

$66.4

-32%

Xenogen Corp.
(XGEN) (IPO)

7/16/04

$7

$7.50

$29.4

+7%

Citigroup Global
Markets

Alnylam
Pharmaceuticals Inc.
(ALNY) (IPO)

5/27/04

$6

$7

$34.5

+17%

Bone Care
International Inc.
(BCII) (co-lead)

5/13/04

$21.75

$25.05

$97.9

+15%

Guilford
Pharmaceuticals Inc.
(GLFD)

7/1/04

$4.50

$4.53

$45

+1%

Martek
Biosciences
Corp. (MATK) (lead)

2/4/03

$65.59

$50.75

$11.6

-23

Senomyx Inc.
(SNMX) (IPO; co-lead)

6/21/04

$6

$6.20

$36

+3%

Credit Suisse
First Boston

Corgentech Inc.
(CGTK) (IPO; co-lead)

2/12/04

$16

$15.80

$96

-1%

Cytokinetics Inc.
(CYTK) (IPO)

4/29/04

$13

$12.94

$103.2

-0%

Eyetech
Pharmaceuticals
Inc. (EYET) (IPO)

1/29/04

$21

$40.10

$156.98

+91%

Rigel
Pharmaceuticals
Inc. (RIGL) (lead)

2/6/04

$20

$11.70

$62.7

-42%

Deutsche Bank
Securities

Cypress Bioscience
Inc. (CYPB) (lead)

4/2/04

$11.50

$11.51

$79.35

+0%

Dynavax
Technologies
Corp. (DVAX)
(IPO; co-lead)

2/18/04

$7.50

$5.50

$51.75

-27%

IntraBiotics
Pharmaceuticals Inc.
(IBPI) (co-lead)

5/5/04

$13

$3.61

$44.9

-72%

Metabasis
Therapeutics Inc.
(MBRX) (IPO; co-lead)

6/16/04

$7

$6.50

$35

-7%

Senomyx Inc.
(SNMX)
(IPO; co-lead)

6/21/04

$6

$6.20

$36

+3%

First Albany
Capital

Bone Care
International Inc.
(BCII)

5/13/04

$21.75

$25.05

$97.9

+15%

NeoPharm Inc.
(NEOL)

1/22/04

$18.25

$7.78

$78.69

-57%

Senomyx Inc.
(SNMX) (IPO)

6/21/04

$6

$6.20

$36

+3%

Fortis Securities

Memory
Pharmaceuticals
Inc. (MEMY) (IPO)

4/5/04

$7

$8.01

$40.25

+14%

Rigel
Pharmaceuticals
Inc. (RIGL)

2/6/04

$20

$11.70

$62.7

-42%

Goldman, Sachs
& Co.

Cytokinetics Inc.
(CYTK) (IPO; lead)

4/29/04

$13

$12.94

$103.2

-0%

GTx Inc.
(GTXI) (IPO; lead)

2/3/04

$14.50

$9.04

$78.3

-38%

Renovis Inc.
(RNVS) (IPO; lead)

2/5/04

$12

$8.60

$66

-28%

Harris Nesbitt
Gerard

Aphton Corp.
(APHT)

2/27/04

$6.50

$3.19

$52.3

-51%

Inhibitex Inc.
(INHX) (IPO)

6/3/04

$7

$6.92

$38.7

-1%

Tercica Inc.
(TRCA) (IPO)

3/16/04

$9

$9.32

$56.93

+4%

Jefferies & Co.

Cypress Bioscience
Inc. (CYPB)

4/2/04

$11.50

$11.51

$79.35

+0%

JMP Securities

Acadia
Pharmaceuticals Inc.
(ACAD) (IPO)

5/26/04

$7

$6.30

$35

-10%

Ariad
Pharmaceuticals
Inc. (ARIA)

3/24/04

$8.50

$5.40

$43

-36%

NeoPharm Inc.
(NEOL)

1/22/04

$18.25

$7.78

$78.69

-57%

Nuvelo Inc.
(NUVO)

3/3/04

$13

$8.55

$74.75

-34%

Xcyte Therapies
Inc. (XCYT) (IPO)

3/16/04

$8

$4.60

$33.6

-43%

Xenogen Corp.
(XGEN) (IPO)

7/16/04

$7

$7.50

$29.4

+7%

JP Morgan
Securities

Barrier Therapeutics
Inc. (BTRX) (IPO)

4/29/04

$15

$13.53

$75

-10%

Cell Genesys
Inc. (CEGE) (co-lead)

3/17/04

$12.50

$8.65

$61.1

-31%

Oscient
Pharmaceuticals
Corp. (GENE) (lead)

2/6/04

$5.25

$4.10

$88.2

-22%

Pharmion Corp.
(PHRM)

7/1/04

$48

$42.58

$253.9

-11%

Lazard Freres
& Co.

Ariad
Pharmaceuticals
Inc. (ARIA)

3/24/04

$8.50

$5.40

$43

-36%

Cypress Bioscience
Inc. (CYPB)

4/2/04

$11.50

$11.51

$79.35

+0%

Cytokinetics Inc.
(CYTK) (IPO)

4/29/04

$13

$12.94

$103.2

-0%

Dendreon Corp.
(DNDN)

1/27/04

$12.75

$10.04

$150

-21%

GTx Inc.
(GTXI) (IPO)

2/3/04

$14.50

$9.04

$78.3

-38%

Inhibitex Inc.
(INHX) (IPO; co-lead)

6/3/04

$7

$6.92

$38.7

-1%

IntraBiotics
Pharmaceuticals Inc.
(IBPI)

5/5/04

$13

$3.61

$44.9

-72%

Leerink Swann
& Co.

Critical
Therapeutics Inc.
(CRTX) (IPO)

5/27/04

$7

$6.94

$42

-1%

Exact Sciences
Corp. (EXAS)

2/5/04

$6.75

$5.65

$46.58

-16%

Onyx
Pharmaceuticals
Inc. (ONXX)

2/3/04

$33.75

$37.12

$156.5

+10%

Legg Mason Wood
Walker

Anadys
Pharmaceuticals
Inc. (ANDS) (IPO)

3/25/04

$7

$6.62

$48.96

-5%

Corcept
Therapeutics Inc.
(CORT) (IPO)

4/14/04

$12

$5.95

$54

-50%

Immunicon Corp.
(IMMC) (IPO)

4/15/04

$8

$8.15

$55.2

+2%

Isolagen Inc.
(AMEX:ILE) (co-lead)

6/10/04

$8.50

$9.14

$61.2

+8%

Metabasis
Therapeutics Inc.
(MBRX) (IPO)

6/16/04

$7

$6.50

$35

-7%

Oscient
Pharmaceuticals
Corp. (GENE)

2/6/04

$5.25

$4.10

$88.2

-22%

Lehman Brothers

Ariad
Pharmaceuticals
Inc. (ARIA) (lead)

3/24/04

$8.50

$5.40

$43

-36%

Cell Genesys
Inc. (CEGE)
(co-lead)

3/17/04

$12.50

$8.65

$61.1

-31%

Corgentech Inc.
(CGTK)
(IPO; co-lead)

2/12/04

$16

$15.80

$96

-1%

Tercica Inc.
(TRCA)
(IPO; co-lead)

3/16/04

$9

$9.32

$56.93

+4%

Merrill Lynch
& Co.

Exact Sciences
Corp. (EXAS)
(co-lead)

2/5/04

$6.75

$5.65

$46.58

-16%

Eyetech
Pharmaceuticals
Inc. (EYET)
(IPO; co-lead)

1/29/04

$21

$40.10

$156.98

+91%

Merriman Curhan
Ford & Co.

Discovery Partners
International Inc.
(DPII)

5/6/04

$5

$5.20

$41.53

+4%

Morgan Stanley
& Co.

Barrier Therapeutics
Inc. (BTRX) (IPO; lead)

4/29/04

$15

$13.53

$75

-10%

Eyetech
Pharmaceuticals
Inc. (EYET)
(IPO; co-lead)

1/29/04

$21

$40.10

$156.98

+91%

Onyx
Pharmaceuticals
Inc. (ONXX) (lead)

2/3/04

$33.75

$37.12

$156.5

+10%

Pharmion Corp.
(PHRM) (lead)

7/1/04

$48

$42.58

$253.9

-11%

Needham & Co.

Anadys
Pharmaceuticals
Inc. (ANDS)
(IPO; co-lead)

3/25/04

$7

$6.62

$48.96

-5%

Antigenics Inc.
(AGEN)

2/3/04

$10.50

$7.77

$56.7

-21%

Cell Genesys
Inc. (CEGE)

3/17/04

$12.50

$8.65

$61.1

-31%

Dendreon Corp.
(DNDN)

1/27/04

$12.75

$10.04

$150

-21%

Nuvelo Inc.
(NUVO)

3/3/04

$13

$8.55

$74.75

-34%

Rigel
Pharmaceuticals
Inc. (RIGL)

2/6/04

$20

$11.70

$62.7

-42%

Senomyx Inc.
(SNMX) (IPO)

6/21/04

$6

$6.20

$36

+3%

Vasogen Inc.
(VSGN) (co-lead)

2/27/04

$5.90

$4.50

$57.7

-24%

Pacific Growth
Equities

Cytokinetics Inc.
(CYTK) (IPO)

4/29/04

$13

$12.94

$103.2

-0%

Pharmacyclics
Inc. (PCYC) (lead)

4/2/04

$13

$8.25

$41.6

-37%

Pharmion Corp.
(PHRM)

7/1/04

$48

$42.58

$253.9

-11%

Piper Jaffray
& Co.

Acadia
Pharmaceuticals Inc.
(ACAD) (IPO; co-lead)

5/26/04

$7

$6.30

$35

-10%

Alnylam
Pharmaceuticals Inc.
(ALNY) (IPO)

5/27/04

$6

$7

$34.5

+17%

Anadys
Pharmaceuticals
Inc. (ANDS)
(IPO; co-lead)

3/25/04

$7

$6.62

$48.96

-5%

Corcept
Therapeutics Inc.
(CORT) (IPO; co-lead)

4/14/04

$12

$5.95

$54

-50%

Corgentech Inc.
(CGTK) (IPO)

2/12/04

$16

$15.80

$96

-1%

Critical
Therapeutics Inc.
(CRTX) (IPO)

5/27/04

$7

$6.94

$42

-1%

Dendreon Corp.
(DNDN)

1/27/04

$12.75

$10.04

$150

-21%

Dynavax
Technologies Corp.
(DVAX) (IPO)

2/18/04

$7.50

$5.50

$51.75

-27%

IntraBiotics
Pharmaceuticals Inc.
(IBPI) (co-lead)

5/5/04

$13

$3.61

$44.9

-72%

Onyx
Pharmaceuticals
Inc. (ONXX)

2/3/04

$33.75

$37.12

$156.5

+10%

Renovis Inc.
(RNVS) (IPO)

2/5/04

$12

$8.60

$66

-28%

Xcyte Therapies
Inc. (XCYT)
(IPO; co-lead)

3/16/04

$8

$4.60

$33.6

-43%

Punk, Ziegel
& Co.

Genitope Corp.
(GTOP)

5/27/04

$8.50

$9.91

$59.5

+17%

RBC Capital
Markets

Santarus Inc.
(SNTS) (IPO)

4/1/04

$9

$12.57

$62.1

+40%

Vasogen Inc.
(VSGN) (co-lead)

2/27/04

$5.90

$4.50

$57.7

-24%

Xcyte Therapies
Inc. (XCYT)
(IPO; co-lead)

3/16/04

$8

$4.60

$33.6

-43%

Robert W. Baird
& Co.

Bone Care
International Inc.
(BCII)

5/13/04

$21.75

$25.05

$97.9

+15%

NeoPharm Inc.
(NEOL)

1/22/04

$18.25

$7.78

$78.69

-57%

Tercica Inc.
(TRCA) (IPO)

3/16/04

$9

$9.32

$56.93

+4%

Rodman &
Renshaw

Ariad
Pharmaceuticals
Inc. (ARIA)

3/24/04

$8.50

$5.40

$43

-36%

Cepheid Inc.
(CEPH)

2/12/04

$11.25

$9.95

$61.88

-12%

Roth Capital
Partners

Bone Care
International Inc.
(BCII)

5/13/04

$21.75

$25.05

$97.9

+15%

Discovery Partners
International Inc.
(DPII)

5/6/04

$5

$5.20

$41.53

+4%

Targeted Genetics
Corp. (TGEN) (co-lead)

2/2/04

$2.35

$1.31

$25.5

-44%

Ryan Beck & Co.

Antigenics Inc.
(AGEN) (lead)

2/3/04

$10.50

$7.77

$56.7

-21%

SG Cowen
Securities

Anadys
Pharmaceuticals
Inc. (ANDS)
(IPO; co-lead)

3/25/04

$7

$6.62

$48.96

-5%

Bruker BioSciences
Corp. (BRKR)

4/23/04

$4.50

$4.15

$15.5

-8%

Cell Genesys
Inc. (CEGE)

3/17/04

$12.50

$8.65

$61.1

-31%

Critical
Therapeutics Inc.
(CRTX) (IPO; lead)

5/27/04

$7

$6.94

$42

-1%

Discovery Partners
International Inc.
(DPII) (lead)

5/6/04

$5

$5.20

$41.53

+4%

GTx Inc.
(GTXI) (IPO)

2/3/04

$14.50

$9.04

$78.3

-38%

Immunicon Corp.
(IMMC) (IPO)

4/15/04

$8

$8.15

$55.2

+2%

Metabasis
Therapeutics Inc.
(MBRX)
(IPO; co-lead)

6/16/04

$7

$6.50

$35

-7%

Memory
Pharmaceuticals
Inc. (MEMY)
(IPO; co-lead)

4/5/04

$7

$8.01

$40.25

+14%

Momenta
Pharmaceuticals Inc.
(MNTA) (IPO; co-lead)

6/21/04

$6.50

$8.53

$40

+31%

Onyx
Pharmaceuticals
Inc. (ONXX)

2/3/04

$33.75

$37.12

$156.5

+10%

Renovis Inc.
(RNVS) (IPO)

2/5/04

$12

$8.60

$66

-28%

Santarus Inc.
(SNTS) (IPO; co-lead)

4/1/04

$9

$12.57

$62.1

+40%

Targeted Genetics
Corp. (TGEN) (co-lead)

2/2/04

$2.35

$1.31

$25.5

-44%

Tercica Inc.
(TRCA) (IPO; co-lead)

3/16/04

$9

$9.32

$56.93

+4%

Stanford Group
Co.

Genitope Corp.
(GTOP)

5/27/04

$8.50

$9.91

$59.5

+17%

ThinkEquity
Partners

Alnylam
Pharmaceuticals Inc.
(ALNY) (IPO)

5/27/04

$6

$7

$34.5

+17%

Momenta
Pharmaceuticals Inc.
(MNTA) (IPO)

6/21/04

$6.50

$8.53

$40

+31%

Thomas Weisel
Partners

Corcept
Therapeutics Inc.
(CORT)
(IPO; co-lead)

4/14/04

$12

$5.95

$54

-50%

Exact Sciences
Corp. (EXAS)

2/5/04

$6.75

$5.65

$46.58

-16%

Inhibitex Inc.
(INHX) (IPO; co-lead)

6/3/04

$7

$6.92

$38.7

-1%

Metabasis
Therapeutics Inc.
(MBRX) (IPO)

6/16/04

$7

$6.50

$35

-7%

Rigel
Pharmaceuticals
Inc. (RIGL)

2/6/04

$20

$11.70

$62.7

-42%

Santarus Inc.
(SNTS) (IPO)

4/1/04

$9

$12.57

$62.1

+40%

Xenogen Corp.
(XGEN) (IPO; lead)

7/16/04

$7

$7.50

$29.4

+7%

UBS Investment
Bank

Antigenics Inc.
(AGEN) (lead)

2/3/04

$10.50

$7.77

$56.7

-21%

Aphton Corp.
(APHT) (lead)

2/27/04

$6.50

$3.19

$52.3

-51%

Bruker BioSciences
Corp. (BRKR) (co-lead)

4/23/04

$4.50

$4.15

$15.5

-8%

Cepheid Inc.
(CEPH) (lead)

2/12/04

$11.25

$9.95

$61.88

-12%

Dendreon Corp.
(DNDN) (lead)

1/27/04

$12.75

$10.04

$150

-21%

Exact Sciences
Corp. (EXAS) (co-lead)

2/5/04

$6.75

$5.65

$46.58

-16%

Guilford
Pharmaceuticals Inc.
(GLFD) (lead)

7/1/04

$4.50

$4.53

$45

+1%

Immunicon Corp.
(IMMC) (IPO; lead)

4/15/04

$8

$8.15

$55.2

+2%

Memory
Pharmaceuticals
Inc. (MEMY) (IPO; co-lead)

4/5/04

$7

$8.01

$40.25

+14%

NeoPharm Inc.
(NEOL) (lead)

1/22/04

$18.25

$7.78

$78.69

-57%

Nuvelo Inc.
(NUVO) (lead)

3/3/04

$13

$8.55

$74.75

-34%

Santarus Inc.
(SNTS) (IPO; co-lead)

4/1/04

$9

$12.57

$62.1

+40%

Wells Fargo

Securities

Xcyte Therapies
Inc. (XCYT) (IPO)

3/16/04

$8

$4.60

$33.6

-43%

William Blair
& Co.

Cepheid Inc.
(CEPH)

2/12/04

$11.25

$9.95

$61.88

-12%

WR Hambrecht
+ Co.

Genitope Corp.
(GTOP) (lead)

5/27/04

$8.50

$9.91

$59.5

+17%

Seattle Genetics
Inc. (SGEN)

2/5/04

$8.25

$5.60

$66.4

-32%


Notes:

* The financings in this chart include only public offerings in the U.S. The data were compiled primarily from BioWorld Financial Watch's monthly financing charts covering the period from Jan. 1 to July 16, 2004. The gross proceed totals include money raised through overallotment options, when disclosed.

Unless otherwise noted, shares are traded on the Nasdaq exchange.

AMEX = American Stock Exchange.

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