Company | Type Of Financing | Number Of Shares, Units Or Warrants (M) | Amount Raised (M) | Investors; Placement Agents; |
Aerogen Inc. (AEGN) |
Private sale of convertible stock and warrants |
0.642S and 6.25W |
$17.7 |
Aerogen completed the second closing of a $32.7M sale of Series A convertible preferred stock; it raised $15M in March; the warrants in the first closing were exercisable at $3.25 per share (5/13) |
Alfacell Corp. (OTC BB:ACEL) |
Private placement of stock and warrants |
1.2S and 1.2W |
$10 |
Alfacell sold the shares at $8.26 each, and the five- year warrants are exercisable at $12.39 per share; Alfacell paid a 5% placement fee to an agent as part of the deal (5/12) |
Avanir Pharmaceuticals Inc. (AMEX:AVN) |
Underwritten stock sale |
19.685S |
$25 |
Avanir sold the shares from a shelf registration at $1.27 each to the sole bookrunner, Lazard Freres & Co. LLC, which has an option to purchase another 2.95M shares to cover overallotments (5/26) |
AVAX Technologies Inc. (OTC BB:AVXT) |
Private placement of stock and warrants |
10S and 3W |
$3 |
Avax sold the shares at $0.30 each; half the warrants are exercisable at $0.35 and half at $0.39; investors were Credit Suisse Equity Global Biotech Fund, Matignon Technologies Fund and Fortis Equity Biotechnology Fund; Praveteq Advisors acted as adviser in the deal (5/19) |
Axonyx Inc. (AXYX) |
Private placement of stock and warrants |
3.077S and 0.923W |
$20 |
The shares were sold at $6.50 each and the five- year warrants are convertible at $8.50 per share; UBS Securities LLC was exclusive placement agent; Punk Ziegel & Co. was a financial adviser (5/4) |
Bioenvision Inc. (AMEX:BIV) |
Private placement of stock and warrants |
ND |
$3.5 |
Investors in a $12.8M financing in March exercised their option on another $3.5M of stock and warrants on the same terms; investors included Perseus-Soros Biopharmaceutical Fund, OrbiMed Advisors, DWS Investments and Scudder Global Biotechnology Fund; SCO Securities LLC was placement agent (5/14) |
BioSante Pharmaceuticals Inc. (AMEX:BPA) |
Private placement of stock and warrants |
2.949S and 0.442W |
$17.69 |
BioSante sold the shares at $6 each to institutional and other accredited investors; the warrants are exercisable at $7 per share; Leerink Swann & Co. was placement agent (5/12) |
Cel-Sci Corp. (AMEX:CVM) |
Registered direct offering |
6.4S |
$5.25 |
The shares were sold from a registration statement at $0.82 each to an institutional investor; Wachovia Capital Markets LLC was placement agent (5/4) |
Ceptor Corp. (subsidiary of Xechem International Inc.; XKEM) |
Bridge loan |
N/A |
$1.1 |
Investors in the six-month bridge debt financing are getting 6.4% of the subsidiary that is 52% owned by Xechem (5/18) |
Columbia Laboratories Inc. (CBRX) |
Private placement of stock |
2S |
$6.4 |
SJ Strategic Investments LLC purchased the shares at $3.20 each; SJ Strategic is owned and managed by John Gregory, the founder and former chairman and CEO of King Pharmaceuticals (5/20) |
Commonwealth Biotechnologies Inc. (CBTE) |
Private placement of stock and warrants |
0.4S and 0.1W |
$2.5 |
The shares were sold at $6.25 each and the warrants are exercisable at 110% of the closing price on the date of the deal; Jesup & Lamont Securities Corp. was placement agent (5/28) |
CV Therapeutics Inc. (CVTX) |
Private placement of convertible notes |
N/A |
$125 |
The 2.75% senior subordinated convertible notes due 2012 initially are convertible into common stock at $17.68 per share; purchasers have an option on another $25M of the notes (5/13) |
Genetronics Biomedical Corp. (AMEX:GEB) |
Private placement of convertible stock |
N/A |
$10.9 |
The Series C cumulative convertible preferred stock is convertible into common stock at $1.70 per share, and pays a 6% dividend, in shares or cash; holders get warrants to buy shares equal to 35% of the initial shares at $2.20 per share; investors were SDS Capital Partners, Baystar Capital, Xmark Funds and QFinance Inc.; SCO Securities LLC led the deal, which included Rodman & Renshaw LLC (5/21) |
Helix BioMedix Inc. (OTC BB: HXBM) |
Private placement of stock and warrants |
0.634S and 0.221W |
$1.27 |
The shares were sold at $2 each in the deal, which was the second tranche in a financing that totaled $2.37M in gross procceds; $1.1M was raised in the first tranche in March (5/4) |
Illumina Inc. (ILMN) |
Direct registered offering |
4.56S |
$30.7 |
Illumina sold the shares from a shelf registration at $6.75 per share to institutional investors; SG Cowen & Co. LLC was exclusive placement agent (5/11) |
ImClone Systems Inc. (IMCL) |
Private placement of convertible notes |
N/A |
$500 |
The 1.3755 convertible senior notes due 2024 are convertible into common shares under certain circumstances at an initial price of $94.69 per share, a 42% premium to the price at the time of the deal; purchasers have an option on another $100M of the notes on the same terms (5/4) |
Integrated BioPharma Inc. (AMEX:INB) |
Private placement of stock and warrants |
0.5S and 0.05W |
$5 |
The investment was made by Damon DeSantis, the former CEO of Rexall Sundown; the deal included a warrant exercisable into 50,000 shares at $14 per share; the financing is in addition to $8.5M the company raised April 21 (5/3) |
Neose Technologies Inc. (NTEC) |
Direct registered offering |
4.7S |
$31.8 |
The shares were sold from a shelf registration at the closing bid price the prior day; existing and new shareholders were joined by company executives in the round; JP Morgan Securities Inc. and UBS Securities LLC were lead and co-placement agents, respectively (5/21) |
Northfield Laboratories Inc. (NFLD) |
Direct registered offering |
1.95S |
$23.4 |
The shares were sold at $12 each to a group of institutional investors; SG Cowen & Co. LLC was placement agent (5/13) |
Nova BioGenetics Inc. (OTC BB:NVBG) |
Escrow funding |
N/A |
$1.5 |
Nova set up a biopharmaceuticals division subsidiary, which raised $1.5M in escrow for its work in antibiotics (5/3) |
Oscient Pharmaceuticals Corp. (GENE) |
Private placement of convertible notes |
N/A |
$143.75 |
The 3.5% senior convertible notes due April 15, 2011, initially will be convertible into common stock at $6.64 per share, a premium of 35% to the previous day's close; the totals include the purchase of $18.75M as per the investors' option; Oscient previously was named Genome Therapeutics Corp. (5/5) |
Pharmexa A/S (Denmark; CSE:PHARMX) |
Rights issue |
16.4S |
DKK164 (US$26.7) |
ING Investment Bank and Gudme Raaschou were joint lead managers in the rights issue, in which shares were sold at DKK10 each (5/18) |
Sonus Pharmaceuticals Inc. (SNUS) |
Private placement of stock |
2.9S |
$15.23 |
Sonus sold the shares at $5.25 each to institutional investors; Granite Financial Group Inc. was the placement agent (5/11) |
Synthetic Blood International Inc. (OTC BB:SYBD) |
Private placement of units |
10U |
$3 |
Each A Unit consists of one common share and one five- year Series A warrant to purchase a common share at $0.47; the company also raised $30,000 from the sale of B Units; the deal was made with international investors (5/26) |
Notes: | ||||
This chart does not include real estate or manufacturing plant financings. | ||||
# Unless otherwise indicated, shares are traded on the Nasdaq exchange. | ||||
@ Dates refer to the date of the press release. | ||||
Currency conversions are based on exchange rates at the time of the deal. | ||||
N/A = Not applicable; ND = Not disclosed. | ||||
AMEX = American Stock Exchange; CSE = Copenhagen Stock Exchange; OTC BB = Over-the-Counter Bulletin Board. |