I. COMMENCED TRADING IN JULY

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

There were no initial public offerings conducted in July.

Total: $0M

Number of IPOs in July: 0

Average value of July IPOs: $0M

Number of IPOs in 2003: 0

Total raised in IPOs in 2003: $0M

Average value of IPOs in 2003: $0M

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)%

ILEX Oncology
Inc. (ILXO)1

7/2/03

7/30/03

5.5S

$17

38.2

UBS Securities; Lehman Brothers; CIBC World Markets; U.S. Bancorp Piper Jaffray

$93.5

$649.4

Lexicon
Genetics Inc. (LEXG)2

11/27/02

7/24/03

10S

$5.25

62.5

UBS Securities (lead); Morgan Stanley (lead); CIBC World Markets; Punk, Ziegel & Co.

$52.5

$328.125

Onyx
Pharmaceuticals Inc. (ONXX)3

6/13/03

7/22/03

5S

$15.25

28.9

Morgan Stanley; Lehman Brothers; SG Cowen Securities

$76.25

$440.725

Vicuron
Pharmaceuticals Inc. (MICU)4

6/9/03

7/18/03

6S

$13.85

53.8

Morgan Stanley (co-lead); Pacific Growth Equities (co-lead); Lazard Freres & Co.; Harris Nesbitt Gerard

$83.1

$745.13

OVERALLOTMENT OPTIONS EXERCISED

Exelixis
Inc. (EXEL)5

7/30/01

7/7/03

1.3S

$7.10

71.2

Goldman, Sachs; SG Cowen Securities

$9.23

$505.52

Total: $314.58M

Number of follow-on offerings in July: 4

Average value of July follow-ons: $78.65M

Number of follow-on offerings in 2003: 17

Total raised in follow-ons in 2003: $1,094.92M

Average value of follow-ons in 2003: $64.4M

Notes:

# Unless otherwise indicated, shares are traded on the Nasdaq exchange.

@ This column reflects the shares outstanding following the offering, when disclosed.

% Market capitalization calculated is based on the offering price; N/A = Not available.

1. ILEX raised $93.5M with the sale of 5.5M shares. Cancer Therapy and Research Center Endowment, a current shareholder, sold another 500,000 shares. The underwriters have an overallotment option for 900,000 shares.

2. Lexicon raised $52.5M with an offering of 10M shares. The underwriters have an overallotment option for 1.5M shares.

3. Onyx raised $76.25M after pricing 5M shares at $15.25 apiece. The underwriters have an overallotment option for up to 750,000 more common shares.

4. Vicuron amended the registration in July saying it would offer 5M shares, which would raise $71M based on the July 10 closing stock price of $14.20. The company ended up selling 6M shares at $13.85 apiece, raising $83.1M. The underwriters have an overallotment option for 900,000 shares.

5. Exelixis raised an additional $9.23M in its public offering with the underwriters' exercise of an overallotment option for 1.3M shares.

II. FILED AND PENDING

Company (Symbol/
Proposed Symbol)#*

Date Filed

Shares/
Units (M)

Price Range

Shares Out (M)@

Lead, Other Underwriters

Value (M)

INITIAL OFFERINGS

Diversified Biotech
Holdings Corp.
 (AMEX:DBH)1

7/25/03

2.5S

$4-$6

12.32

InvestPrivate Inc.; The Shemano Group

$12.5

ViaCell Inc.
(VIAC)2

1/30/02

N/A

N/A

N/A

UBS Warburg; Banc of America Securities; U.S. Bancorp Piper Jaffray

$115

FOLLOW-ON OFFERINGS

Alteon Inc.
(AMEX:ALT)3

6/13/03

N/A

N/A

N/A

N/A

$100

Ariad
Pharmaceuticals
Inc. (ARIA)4

7/3/03

7.5S

$4.275

N/A

N/A

$32.06

Biomira Inc. (Canada;
BIOM; TSE:BRA)5

5/2/02

N/A

N/A

53.4

N/A

C$150 (US$97.84)

BioPure Corp. (BPUR)6

3/6/03

10S

$3.84

N/A

N/A

$38.4

Cambridge Antibody
Technology Group plc
(UK; Group plc (UK;
CATG; LSE:CAT)7

7/30/03

N/A

N/A

N/A

N/A

$175

Celgene Corp.
(CELG)8

12/21/01

N/A

N/A

75.6

N/A

N/A

Cell Genesys Inc.
(CEGE)9

12/23/02

N/A

N/A

N/A

N/A

$150

Cell Pathways Inc.
(CLPA)10

2/7/01

N/A

N/A

N/A

N/A

$25

Centrex Inc.
(OTC BB:CNEX)11

2/24/03

N/A

N/A

N/A

HD Brous & Co. Inc.

$20

Cepheid Inc.
(CPHD)12

12/21/01

N/A

N/A

26.56

N/A

$35

Cubist
Pharmaceuticals
Inc. (CBST)13

3/7/03

N/A

N/A

N/A

N/A

$75

Dendreon Corp.
(DNDN)14

1/22/03

N/A

N/A

N/A

N/A

$75

Dyax Corp.
(DYAX)15

7/15/03

N/A

N/A

N/A

N/A

$40

EPIX Medical
Inc. (EPIX)16

7/28/03

4.3S

$17.28

21.6

SG Cowen Securities; Wells Fargo Securities; Needham & Co.; WR Hambrecht + Co.

$74.3

Esperion
Therapeutics
Inc. (ESPR)17

7/14/03

4S

$20.08

33.5

Lehman Brothers; Citigroup Global Markets; Needham & Co.; U.S. Bancorp Piper Jaffray; SG Cowen

$80

GenVec Inc.
(GNVC)18

12/19/02

N/A

N/A

N/A

N/A

$25

Geron Corp.
(GERN)19

1/30/02

N/A

N/A

N/A

N/A

$150

Hollis-Eden
Pharmaceuticals
Inc. (HEPH)20

7/25/03

5S

$14.39

N/A

N/A

$71.95

MGI Pharma
Inc. (MOGN)21

6/17/03

4S

$31.97

29.6

Merrill Lynch (co-lead); U.S. Bancorp Piper Jaffray (co-lead); Lazard Freres; C.E. Unterberg, Towbin

$128

Neose Technologies
Inc. (NTEC)22

6/23/03

N/A

N/A

N/A

N/A

$75

Neurocrine
Biosciences Inc.
(NBIX)23

6/9/03

N/A

N/A

N/A

N/A

$200

Neurogen Corp.
(NRGN)24

8/16/02

N/A

N/A

N/A

N/A

$75

Northfield
Laboratories
Inc. (NFLD)25

6/30/03

N/A

N/A

N/A

N/A

$50

Nuvelo Inc.
(NUVO)26

7/8/03

N/A

N/A

N/A

N/A

$50

Pharmos Corp.
(PARS)27

2/4/02

N/A

N/A

56.6

N/A

$25

Progenics
Pharmaceuticals
Inc. (PGNX)28

7/15/03

2.75S

$16.44

N/A

N/A

$45.21

StemCells Inc.
(STEM)29

3/8/02

15S

$2.52

25.8

N/A

$37.8

Tularik Inc.
(TLRK)30

8/14/01

N/A

N/A

49.2

N/A

$250

VaxGen Inc.
(VXGN)31

11/7/02

N/A

N/A

N/A

N/A

$150

ZymoGenetics
Inc. (ZGEN)32

7/28/03

N/A

N/A

N/A

N/A

$150

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; LSE = London Stock Exchange; OTC BB = Over-the-Counter Bulletin Board; TSE = Toronto Stock Exchange.

1. Diversified filed for a proposed IPO. The value, $12.5M, is based on the sale of 2.5M at $5 a share, the midpoint of the expected price range. The underwriters have an overallotment option for 375,000 shares.

2. ViaCell filed for a $115M IPO. No further details were disclosed.

3. Alteon filed a shelf registration statement to offer and sell, from time to time, up to $100M of securities.

4. Ariad filed a shelf registration statement for up to 7.5M shares of common stock, which would raise $32.06M based on the proposed maximum aggregate offering price.

5. Biomira filed for a C$150M shelf prospectus in Canada. The company raised US$3.7M in a private placement in May.

6. BioPure registered to sell up to 10M shares of common stock through a shelf registration. Based on the March 6, 2003, closing stock price of $3.84, the offering would raise $38.4M. Biopure raised $7.3M in private placements conducted in May, and $17.2M in one conducted in July.

7. Cambridge Antibody registered to sell up to $175M in common stock or American depository shares from time to time.

8. Celgene filed a universal shelf registration statement to offer and sell common stock, debt securities and convertible debt securities, up to a total value of $500M. In May, Celgene privately placed $400M in convertible notes.

9. Cell Genesys filed a shelf registration statement allowing it to issue, from time to time, up to $150M of securities.

10. Cell Pathways filed a shelf registration statement for the sale of $25M in common stock. The company privately placed $4.4M in shares in September 2002. Cell Pathways was acquired by OSI Pharmaceuticals Inc.

11. Centrex plans to raise $20M with HD Brous as its managing underwriter.

12. Cepheid filed a shelf registration statement to offer and sell up to $35M of its common stock, preferred stock, debt securities and warrants. Company privately placed $5M in stock in February.

13. Cubist filed a shelf registration statement to sell up to $75M in stock.

14. Dendreon filed a shelf registration with the SEC to sell $75M in stock from time to time. Dendreon raised $30.7M in a private placement in June.

15. Dyax filed a shelf registration statement with the SEC to issue up to $40M worth of common stock, debt securities and other types of securities from time to time.

16. EPIX Medical plans to offer 4.3M shares, which would raise $74.3M based on the July 25 closing stock price of $17.28. The underwriters have an overallotment option for another 645,000 shares.

17. Esperion filed a registration statement to offer 4M shares, which could raise the company $80M based on the July 11 closing stock price of $20.08. The underwriters have an overallotment option for 600,000 shares.

18. GenVec filed a $25M shelf registration statement with the SEC.

19. Geron filed a prospectus for the sale of up to $150M in debt securities, common or preferred stock and warrants. Geron raised $18.4M in a private placement in April.

20. Hollis-Eden filed a shelf registration with the SEC to sell up to 5M common shares and warrants, after withdrawing an unallocated shelf registration statement covering 3M shares. The value is based on the proposed maximum offering price.

21. MGI Pharma plans to sell 4M shares, which would raise $128M based on the July 25 closing stock price of $31.97. The underwriters have an overallotment option for another 600,000 shares.

22. Neose filed a shelf registration statement to offer and sell up to $75M of its common stock from time to time.

23. Neurocrine filed a $200M shelf registration statement.

24. Neurogen filed for a $75M universal shelf registration statement.

25. Northfield filed a shelf registration statement with the SEC to offer and sell up to $50M of its securities from time to time. It privately placed $10.6M in shares in July.

26. Nuvelo filed a shelf registration statement to offer up to $50M worth of common or preferred stock, or debt securities, from time to time.

27. Pharmos filed a shelf registration statement to sell up to $25M of common stock, preferred stock, debt securities and/or warrants. The company raised $4.3M in a private placement in March.

28. Progenics filed a shelf registration statement to offer and sell up to 2.75M common shares. The value is based on the proposed maximum aggregate offering price.

29. StemCells filed with the SEC to sell up to 15M shares to raise a maximum of $37.8M. Further details were not disclosed. The company privately placed $6.5M in shares in May.

30. Tularik filed to sell up to $250M in common stock and debt securities. It raised $27.2M in October 2002 with an offering of 4M shares. As of May, $217.8M remained available on the registration statement.

31. VaxGen filed a shelf registration statement for $150M in common stock, preferred stock, debt securities and warrants. Further details were not disclosed. It privately placed $5M in stock in May, and $7M in June.

32. ZymoGenetics filed a shelf registration statement to offer and sell up to $150M of common stock from time to time.