I. COMMENCED TRADING IN DECEMBER

INITIAL OFFERINGS

Company
(Symbol)

Date
Filed

Date
Comm.

Shares/
Units (M)

Price

Shares
Out (M)

Lead, Other
Underwriters

Gross
(M)

Post-
Offering
Market
Cap (M)

There were no initial public offerings conducted in December.

Total: $0M

Number of IPOs in December: 0

Average value of December IPOs: $0M

Number of IPOs in 2002: 4

Total raised in IPOs in 2002: $464.7M*

Average value of IPOs in 2002: $116.19M*

* Figures include an overallotment option exercised in January 2002 as part of a 2001 IPO.

Figures do not include an IPO conducted in June by YM BioSciences Inc. because the shares were privately placed.

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)

There were no follow-on public offerings conducted in December.

Total: $0M

Number of follow-on offerings in December: 0

Average value of December follow-ons: $0M

Number of follow-on offerings in 2002: 21

Total raised in follow-ons in 2002: $924.85M

Average value of follow-ons in 2002: $44.04M

II. FILED AND PENDING

INITIAL OFFERINGS

Company
(Symbol/Proposed
Symbol)#*

Date
Filed

Shares/
Units
(M)

Price
Range

Shares
Out (M)%

Lead, Other
Underwriters

Value
(M)

MitoKor Inc.
 (MITO)1

3/8/02

N/A

N/A

N/A

RBC Capital Markets; Lazard Freres; Legg Mason Wood Walker; Gerard Klauer Mattison

$60

Stem Genetics
Inc. (N/A)2

7/18/02

1.5S

$7

32.3

Self-underwritten

$10.5

ViaCell Inc.
(VIAC)3

1/30/02

N/A

N/A

N/A

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

$115

FOLLOW-ON OFFERINGS

Company
(Symbol/Proposed Symbol)#*

Date
Filed

Shares/
Units
(M)

Price
Range

Shares
Out (M)%

Lead, Other
Underwriters

Value
(M)

Amylin
Pharmaceuticals
Inc. (AMLN)4

11/19/02

N/A

N/A

N/A

N/A

$175

Antex Biologics
Inc. (AMEX:ANX)5

11/22/02

8U

$0.75

20.4

Roan/Meyers & Associates

$6

Antigenics
Inc. (AGEN)6

6/13/02

N/A

N/A

33.1

N/A

$100

Aphton Corp.
(APHT)7

7/8/02

5S

$6.50

25.1

N/A

$32.5

Ariad
Pharmaceuticals
Inc. (ARIA)8

1/9/02

3S

$5.28

35.4

N/A

$15.84

AtheroGenics
Inc. (AGIX)9

11/13/02

N/A

N/A

N/A

N/A

$75

BioMarin Pharmaceutical
Inc. (BMRN)10

12/23/02

N/A

N/A

N/A

N/A

$150

Biomira Inc.
(Canada; BIOM;
TSE:BRA)11

5/2/02

N/A

N/A

53.4

N/A

C$150 (US$97.84)

Bioxel Pharma
Inc. (Canada;
CDNX:BIP)12

11/11/02

N/A

N/A

N/A

Dundee Securities
National Bank Financial;
Canaccord Capital

N/A

Celgene Corp.
(CELG)13

12/21/01

N/A

N/A

75.6

N/A

$500

Cell Genesys
Inc. (CEGE)14

12/23/02

N/A

N/A

N/A

N/A

$150

Cell Pathways
Inc. (CLPA)15

2/7/01

N/A

N/A

N/A

N/A

$25

Cepheid Inc.
(CPHD)16

12/21/01

N/A

N/A

26.56

N/A

$35

Cerus Corp.
(CERS)17

8/13/01

N/A

N/A

15.7

N/A

$300

CollaGenex Pharmaceuticals
Inc. (CGPI)18

10/26/01

0.965S

$8.01

N/A

Kingsbridge Capital;
Prentice Securities

$7.7

Cytogen Corp.
(CYTO)19

10/26/01

10S

$2.50

79.8

N/A

$25

Dyax Corp.
(DYAX)20

4/25/02

5S

$3.66

19.6

N/A

$18.3

EntreMed Inc.
(ENMD)21

5/10/02

N/A

N/A

N/A

N/A

$50

Epimmune Inc.
(EPMN)22

10/25/02

7.25S

$1.32

19.4

Punk Ziegel & Co.
(placement agent)

$9.57

Exelixis Inc.
(EXEL)23

7/30/01

N/A

N/A

49.2

N/A

$150

Genaera Corp.
(GENR)24

11/21/01

N/A

N/A

38.9

N/A

$50

Genaissance Pharmaceuticals
Inc. (GNSC)25

10/18/01

N/A

N/A

22.8

N/A

$35

GenVec Inc.
(GNVC)26

12/19/02

N/A

N/A

N/A

N/A

$25

Geron Corp.
(GERN)27

1/30/02

N/A

N/A

N/A

N/A

$150

Hollis-Eden Pharmaceuticals
Inc. (HEPH)28

2/26/02

3S

$8.71

N/A

N/A

$26.13

InSite Vision
Inc. (AMEX:ISV)29

2/2/01

N/A

N/A

N/A

Ladenburg Thalmann

$40

Lexicon Genetics
Inc. (LEXG)30

11/27/02

12S

$3.98

N/A

N/A

$47.76

Neurogen Corp.
(NRGN)31

8/16/02

N/A

N/A

N/A

N/A

$75

Northwest Biotherapeutics
Inc. (NWBT)32

6/4/02

11S

$3.77

17

C.E. Unterberg, Towbin

$41.5

Pharmos Corp.
(PARS)33

2/4/02

N/A

N/A

56.6

N/A

$25

SciClone Pharmaceuticals
Inc. (SCLN)34

11/6/01

N/A

N/A

N/A

N/A

$20

Spectrum Pharmaceuticals
Inc. (SPPI)35

1/3/01

N/A

N/A

26.9

N/A

$50

StemCells Inc.
(STEM)36

3/8/02

15S

$2.52

25.8

N/A

$37.8

Targeted Genetics
Corp. (TGEN)37

12/13/01

8.84S

$2.57

N/A

N/A

$22.72

Triangle Pharmaceuticals
Inc. (VIRS)38

9/25/02

N/A

N/A

N/A

N/A

$80

Tularik Inc.
(TLRK)39

8/14/01

N/A

N/A

49.2

N/A

$250

VaxGen Inc.
(VXGN)40

11/7/02

N/A

N/A

N/A

N/A

$150

III. WITHDRAWN AND POSTPONED

INITIAL OFFERINGS

Company
(Symbol)#

Date
Filed/
Date
Pulled

Shares/
Units
(M)

Price
Range

Shares
Out (M)

Lead, Other
Underwriters

Value
(M)

DiaDexus Inc.
 (DDXS)41

11/20/00 12/12/02

7S

$12-14

31.1

Lehman Brothers; CIBC World Markets; Robertson Stephens; Fidelity Capital Markets

$91

Idenix Pharmaceuticals
Inc. (IDIX)42

4/12/02 12/17/02

N/A

N/A

N/A

Goldman Sachs (co-lead); Banc of America Securities (co-lead); JP Morgan Securities; U.S. Bancorp Piper Jaffray

$115

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; CDNX = Canadian Venture Exchange; TSE = Toronto Stock Exchange

1. MitoKor filed for an IPO to raise $60M.

2. Stem Genetics filed for an IPO to raise $10.5M. It intends to go public on the Over-the-Counter Bulletin Board, but did not specify a proposed symbol in its SEC filing.

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

4. Amylin filed a shelf registration statement with the SEC that would allow it to issue from time to time up to $175M of common stock.

5. Antex filed a registration statement with the SEC for a proposed public offering of units consisting of one share of common stock and one redeemable stock purchase warrant to purchase one share of common stock.

6. Antigenics filed a shelf registration statement covering the issuance of common and preferred stock, as well as secured and unsecured debt securities, up to $60M. It also had a previous registration with $40M in securities remaining.

7. Aphton filed a shelf registration statement to sell up to 5M shares at a maximum amount of $6.50 per share. The company privately placed 2.5M shares worth $5M in September 2002.

8. Ariad filed a shelf registration statement to sell up to 3M shares. At the Jan. 8, 2002, closing stock price, it would raise $15.84M.

9. AtheroGenics filed with the SEC a shelf registration statement to permit the firm to offer and sell up to $75M of common stock.

10. BioMarin filed a shelf registration statement for the offer and sale by BioMarin of up to $150M of its common stock.

11. Biomira filed for a $150M shelf prospectus in Canada.

12. Bioxel filed a preliminary prospectus for a public offering of common shares in Canada. There will be an overallotment option for 15% of the shares offered.

13. 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.

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

15. 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.

16. Cepheid filed a shelf registration statement to offer and sell up to $35M of its common stock, preferred stock, debt securities and warrants.

17. Cerus filed to sell up to $300M of common stock and debt in a shelf offering.

18. The value of CollaGenex's proposed offering, $7.7M, is based on the Oct. 26, 2001, closing stock price of $8.01. CollaGenex privately placed 119,335 shares in May 2002, raising $1M. It placed 32,187 shares in June 2002, raising $266,667.

19. Cytogen filed to offer 10M shares at about $2.50 each in a shelf registration statement. It privately placed 3M shares in January 2002, and another 4.17M shares in June 2002.

20. Dyax filed a shelf registration statement to sell up to 5M shares. The value, $18.3M, is based on the April 24, 2002, closing stock price, $3.66.

21. EntreMed filed a $50M shelf registration statement, allowing it to offer securities from time to time in the form of common stock, preferred stock or warrants to purchase securities.

22. Epimmune filed to sell 7.25M shares at $1.32 per share for $9.57M.

23. Exelixis filed a shelf registration statement to sell up to $150M in common stock.

24. Genaera filed a universal shelf registration statement for the sale of up to $50M in common stock, preferred stock or warrants to purchase common stock or preferred stock. It privately placed $16.5M in shares in April 2002.

25. Genaissance filed a shelf registration statement to offer and sell common stock, preferred stock, debt or warrants, up to a value of $35M.

26. GenVec filed a $25M sheld registration statement with the SEC.

27. Geron filed a prospectus for the sale of up to $150M in debt securities, common or preferred stock and warrants.

28. Hollis-Eden filed a shelf registration statement to sell up to 3M shares and warrants from time to time. The value is based on the proposed maximum offering price.

29. InSite filed a shelf registration statement in February 2001 to sell $40M in stock.

30. Lexicon Genetics filed a shelf registration statement with the SEC to sell up to an aggregate of 12M shares of common stock from time to time.

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

32. Northwest expects to offer 11M shares as part of a lock-up agreement with the underwriter from the company's December 2001 initial public offering. The value, $41.5M, is based on the June 3, 2002, closing stock price of $3.77.

33. Pharmos filed a shelf registration statement to sell up to $25M of common stock, preferred stock, debt securities and/or warrants.

34. SciClone filed to sell up to $20M in common and preferred stock, debt securities and warrants from time to time through a shelf offering. SciClone privately placed $10.62M in shares in June 2002.

35. Spectrum filed a shelf registration statement covering the sale of debt securities, common stock, preferred stock, depository shares or warrants up to $50M. Since May 2001, it has privately placed $27.14M.

36. StemCells filed with the SEC to sell up to 15M shares to raise a maximum of $37.8M. Further details were not disclosed.

37. Targeted Genetics filed a shelf registration statement for the sale of up to about 8.84M shares of common stock. The value is based on the Jan. 22, 2002, closing stock price of $2.57.

38. Triangle filed a shelf registration with the SEC to sell up to $80M in common and preferred stock.

39. 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.

40. VaxGen filed a shelf registration statement for $150M in common stock, preferred stock, debt securities and warrants. Further details were not disclosed.

41. DiaDexus withdrew its registration for an IPO due to market conditions.

42. Idenix withdrew its application for an IPO due to market conditions.