I. COMMENCED TRADING IN JUNE |
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Company | Date | Date | Shares/ | Price | Shares | Lead, Other Underwriters | Gross (M) | Post- |
|
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INITIAL OFFERINGS |
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BioDelivery Sciences Inc. (BDSIU)1 | 11/2002 | 6/27 | 2U | $5.25 | 7 | Kashner Davidson Securities; Roan Meyers Assoc.; Investors Capital; Sterling Financial Investment; Schneider Securities | $10.5 | N/A |
YM BioSciences Inc. (Canada; AIM:YMB; TSE:YM_PB)2 | 4/24/02 | 6/12/02 | 3.75S | C$4 | 16.75 | Canaccord Capital | N/A | C$67 (US$43.8) |
|
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Notes: |
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# Unless otherwise indicated, shares are traded on the Nasdaq exchange. |
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% This column reflects the shares outstanding following the offering, when disclosed. |
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@ Market capitalization calculated is based on the offering price. |
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AIM = Alternative Investment Market on the London Stock Exchange; TSE = Toronto Stock Exchange |
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1. BioDelivery's underwriters have an overallotment option on 300,000 units. Each unit consists of one share and once Class A warrant, exercisable to purchase one share. |
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2. YM BioSciences went public on the London and Toronto stock exchanges, issuing stock to institutional and other investors at C$4 each. The amount raised, C$15M (US$9.74M), is accounted for in the "Other Financings Of Public Biotechnology Companies" chart in this issue. |
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|
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Total: $10.5M |
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Number of IPOs in June: 1 |
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Average value of June IPOs: $10.5M |
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Number of IPOs in 2002: 4 |
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Total raised in IPOs in 2002: $464.3M* |
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Average value of IPOs in 2002: $116.08M* |
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|
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* Figures include an overallotment option exercised in January as part of a 2001 IPO. |
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Figures do not include an IPO conducted in June by YM BioSciences Inc. because the shares were privately placed. |
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|
||||||||
FOLLOW-ON OFFERINGS |
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Company | Date | Date Comm. | Shares/ | Price | Shares | Lead, Other Underwriters | Gross | Post- |
| ||||||||
BioTransplant Inc. (BTRN)3 | 12/11/01 | 6/12 | 4S | $2.50 | 25.3 | N/A | $10 | $63.25 |
|
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ProMetic Life Sciences Inc. (Canada; TSE:PLI)4 | 5/30/02 | 6/17 | 9.34S | C$2.70 | N/A | Dundee Securities Corp.; National Bank Financial; Scotia Capital; Desjardins Securities | C$25.2 (US$16.3) | N/A |
| ||||||||
The Medicines | 4/23/02 | 6/21 | 4S | $8.20 | 39 | Bear, Stearns & Co. | $32.8 | $319.8 |
|
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Notes: |
||||||||
# Unless otherwise indicated, shares are traded on the Nasdaq exchange. |
||||||||
% This column reflects the shares outstanding following the offering, when disclosed. |
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@ Market capitalization calculated is based on the offering price. |
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TSE = Toronto Stock Exchange |
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3. BioTransplant raised $10M in a public offering of 4M shares, pursuant to a shelf registration filed in December. |
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4. ProMetic Life Sciences raised $16.3M in a public offering. It also raised $650,000 in a concurrent private placement. |
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5. The Medicines Company raised $32.8M in a public offering. |
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|
||||||||
Total: $59.1M |
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Number of follow-on offerings in June: 3 |
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Average value of June follow-ons: $19.7M |
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Number of follow-on offerings in 2002: 15 |
||||||||
Total raised in follow-ons in 2002: $529.93M |
||||||||
Average value of follow-ons in 2002: $35.33M |
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|
||||||||
II. FILED AND PENDING |
||||||||
Company (Symbol/ | Date Filed | Shares/ | Price Range | Shares | Lead, | Value (M) | ||
| ||||||||
INITIAL OFFERINGS | ||||||||
Aderis Pharmaceuticals Inc. (ADPX)1 | 1/11/02 | 5.5S | $9-11 | N/A | UBS Warburg (co-lead); CIBC World Markets (co-lead); RBC Capital Markets; Gerard Klauer Mattison | $55 | ||
| ||||||||
Corcept Therapeutics Inc. (CORT)2 | 12/21/01 | 4S | $14-16 | 23.9 | U.S. Bancorp Piper Jaffray (co-lead); CIBC World Markets (co-lead); Thomas Weisel Partners | $60 |
||
| ||||||||
DiaDexus Inc. (DDXS)3 | 11/20/00 | 7S | $12-14 | 31.1 | Lehman Brothers; CIBC World Markets; Robertson Stephens; Fidelity Capital Markets | $91 |
||
| ||||||||
Innovative Drug Delivery Systems Inc. (IDDS)4 | 1/2/02 | 5.6S | $8-10 | 20.65 | Thomas Weisel Partners; Wells Fargo Securities; Jefferies & Co. | $50.4 |
||
| ||||||||
MitoKor Inc. (MITO)5 | 3/8/02 | N/A | N/A | N/A | RBC Capital Markets; Lazard Freres; Legg Mason Wood Walker; Gerard Klauer Mattison | $60 |
||
| ||||||||
Novirio Pharmaceuticals Ltd. (IDIX)6 | 4/12/02 | 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 |
||
| ||||||||
Protarga Inc. (PRTG)7 | 12/12/01 | N/A | N/A | N/A | UBS Warburg (co-lead); U.S. Bancorp Piper Jaffray (co-lead) | $75 |
||
| ||||||||
ViaCell Inc. (VIAC)8 | 1/30/02 | N/A | N/A | N/A | UBS Warburg; Banc of America Securities; U.S. Bancorp Piper Jaffray | $115 |
||
|
||||||||
FOLLOW-ON OFFERINGS |
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Advanced Tissue Sciences Inc. (ATIS)9 | 6/12/02 | 10S | $1.07 | N/A | N/A | $10.7 |
||
|
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Antigenics Inc. | 6/13/02 | N/A | N/A | 33.1 | N/A | $100 |
||
| ||||||||
Ariad Pharmaceuticals Inc. (ARIA)11 | 1/9/02 | 3S | $5.28 | 35.4 | N/A | $15.84 |
||
| ||||||||
Biomira Inc. (Canada; BIOM; TSE:BRA)12 | 5/2/02 | N/A | N/A | N/A | N/A | C$150 |
||
| ||||||||
Biosante Pharmaceuticals Inc. (OTC BB:BTPH)13 | 5/6/02 | N/A | N/A | N/A | Self-underwritten | $10 |
||
| ||||||||
Celgene Corp. | 12/21/01 | N/A | N/A | 75.6 | N/A | $500 |
||
| ||||||||
Cell Pathways Inc. (CLPA)15 | 2/7/01 | N/A | N/A | N/A | N/A | $25 |
||
| ||||||||
Cepheid Inc. | 12/21/01 | N/A | N/A | 26.56 | N/A | $35 |
||
| ||||||||
Cerus Corp. | 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. | 10/26/01 | 10S | $2.50 | 79.8 | N/A | $25 |
||
| ||||||||
Dyax Corp. | 4/25/02 | 5S | $3.66 | 19.6 | N/A | $18.3 |
||
| ||||||||
EntreMed Inc. | 5/10/02 | N/A | N/A | N/A | N/A | $50 |
||
| ||||||||
Exelixis Inc. | 7/30/01 | N/A | N/A | 49.2 | N/A | $150 |
||
| ||||||||
Genaera Corp. | 11/21/01 | N/A | N/A | 38.9 | N/A | $50 |
||
| ||||||||
Genaissance Pharmaceuticals Inc. (GNSC)24 | 10/18/01 | N/A | N/A | 22.8 | N/A | $35 |
||
| ||||||||
Geron Corp. | 1/30/02 | N/A | N/A | N/A | N/A | $150 |
||
| ||||||||
Hollis-Eden Pharmaceuticals Inc. (HEPH)26 | 2/26/02 | 3S | $8.71 | N/A | N/A | $26.13 |
||
| ||||||||
InSite Vision Inc. (AMEX:ISV)27 | 2/2/01 | N/A | N/A | N/A | Ladenburg Thalmann (placement agent) | $40 |
||
| ||||||||
Myriad Genetics Inc. (MYGN)28 | 11/9/01 | N/A | N/A | N/A | N/A | $250 |
||
| ||||||||
NeoTherapeutics Inc. (NEOT)29 | 1/3/01 | N/A | N/A | 26.9 | N/A | $50 |
||
| ||||||||
Northwest Biotherapeutics Inc. (NWBT)30 | 6/4/02 | 11S | $3.77 | 17 | C.E. Unterberg, Towbin | $41.5 |
||
| ||||||||
NPS Pharmaceuticals Inc. (NPSP)31 | 1/7/02 | N/A | N/A | N/A | N/A | $250 |
||
| ||||||||
Pharmos Corp. | 2/4/02 | N/A | N/A | 56.6 | N/A | $25 |
||
| ||||||||
SciClone Pharmaceuticals Inc. (SCLN)33 | 11/6/01 | N/A | N/A | N/A | N/A | $20 |
||
| ||||||||
StemCells Inc. | 3/8/02 | 15S | N/A | N/A | N/A | $37.8 |
||
| ||||||||
Targeted Genetics | 12/13/01 | 8.84S | $2.57 | N/A | N/A | $22.72 |
||
| ||||||||
Telik Inc. (TELK)36 | 6/3/02 | N/A | N/A | 27.8 | N/A | $100 |
||
| ||||||||
Tularik Inc. (TLRK)37 | 8/14/01 | N/A | N/A | 49.2 | N/A | $250 |
||
|
||||||||
III. WITHDRAWN AND POSTPONED |
||||||||
Company (Symbol/ | Date Filed/ Date Pulled | Shares/ | Price Range | Shares | Lead, | Value (M) | ||
| ||||||||
INITIAL OFFERINGS |
||||||||
Royalty Pharma AG (Switzerland)38 | N/A 6/26** | 4.1S | CHF40 (US$26.74) | N/A | UBS Warburg | CHF164 (US$109.63) |
||
|
||||||||
Notes: |
||||||||
# Unless otherwise indicated, shares are traded on the Nasdaq exchange. |
||||||||
* Stock symbols for companies seeking to complete IPOs are proposed. |
||||||||
** Denotes the date the item ran in BioWorld International. |
||||||||
% This column reflects the shares outstanding following the offering, when disclosed. |
||||||||
N/A = Not available, applicable or reported. |
||||||||
AMEX = American Stock Exchange; OTC BB = Over the Counter Bulletin Board; TSE = Toronto Stock Exchange |
||||||||
1. Aderis set in April the number of shares and the price range of its IPO. It amended the price range in May. The value, $55M, is based on the sale of 5.5M shares at $10 each, the midpoint of the expected price range. The underwriters have an overallotment option on 825,000 shares. |
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2. Corcept's offering is for 4.5M shares, 4M sold by the company and 500,000 sold by a selling stockholder. The value of Corcept's offering, $60M, is based on the sale of 4M shares at $15 each, the midpoint of the expected price range. |
||||||||
3. DiaDexus' IPO value, $91M, is based on the sale of 7M shares at $13, the midpoint of the expected price range. The underwriters have an overallotment option on 1.05M shares. |
||||||||
4. Innovative Drug set the number of shares to be sold and the price range in March. The value, $50.4M, is based on the sale of 5.6M shares at $9 each, the midpoint of the expected price range. The underwriters have an overallotment option on 840,000 shares. |
||||||||
5. MitoKor filed for an IPO to raise $60M. |
||||||||
6. Novirio filed for an IPO to raise $115M. |
||||||||
7. Protarga filed for an IPO with hopes of raising $75M. It did not disclose the number of shares to be offered or the expected price range. |
||||||||
8. ViaCell filed for a $115M IPO. No further details were disclosed. |
||||||||
9. Advanced Tissue filed a shelf registration statement with the SEC to issue up to 10M shares of its common stock. The value, $10.7M, is based on the June 12 closing stock price of $1.07. |
||||||||
10. 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. |
||||||||
11. Ariad filed a shelf registration statement to sell up to 3M shares. At the Jan. 8 closing stock price, it would raise $15.84M. |
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12. Biomira filed for a $150M shelf prospectus in Canada. |
||||||||
13. BioSante filed for a proposed self-underwritten offering of up to $10M in shares of common stock. |
||||||||
14. 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. |
||||||||
15. Cell Pathways filed a shelf registration statement for the sale of $25M in common stock. |
||||||||
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 closing stock price of $8.01. CollaGenex privately placed 119,335 shares in May, raising $1M. It placed 32,187 shares in June, raising $266,667. |
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19. Cytogen filed to offer 10M shares at about $2.50 each in a shelf registration statement. It privately placed 3M shares in January, and another 4.17M shares in June. |
||||||||
20. Dyax filed a shelf registration statement to sell up to 5M shares. The value, $18.3M, is based on the April 24 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. Exelixis filed a shelf registration statement to sell up to $150M in common stock. |
||||||||
23. 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. |
||||||||
24. Genaissance filed a shelf registration statement to offer and sell common stock, preferred stock, debt or warrants, up to a value of $35M. |
||||||||
25. Geron filed a prospectus for the sale of up to $150M in debt securities, common or preferred stock and warrants. |
||||||||
26. 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. |
||||||||
27. InSite filed a shelf registration statement in February 2001 to sell $40M in stock. |
||||||||
28. Myriad filed a shelf registration statement for the sale of up to $250M of various types of securities. |
||||||||
29. NeoTherapeutics filed a shelf registration statement covering the sale of debt securities, common stock, preferred stock, depository shares or warrants up to $50M. In May 2001, the company raised $6M in a private placement. In August, the company privately placed 600,000 shares, raising $2.01M. In November, it placed 950,000 shares, raising $3.8M. In December, it placed 0.77M shares, raising $2.95M. In March 2002, it raised $8.05M in a private placement. In June, it raised $1.66M in a private placement. |
||||||||
30. Northwest expects to offer 11M shares as part of a lock-up agreement with the underwriter from the company's December initial public offering. The value, $41.5M, is based on the June 3 closing stock price of $3.77. |
||||||||
31. NPS filed a shelf registration statement to offer and sell up to $250M of common stock, preferred stock and debt securities. |
||||||||
32. Pharmos filed a shelf registration statement to sell up to $25M of common stock, preferred stock, debt securities and/or warrants. |
||||||||
33. 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. |
||||||||
34. StemCells filed with the SEC to sell up to 15M shares to raise a maximum of $37.8M. Further details were not disclosed. |
||||||||
35. 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 closing stock price of $2.57. |
||||||||
36. Telik filed a shelf registration statement to sell $100M in common stock, preferred stock, debt securities and warrants. |
||||||||
37. Tularik filed to sell up to $250M in common stock and debt securities. |
||||||||
38. Royalty Pharma canceled its initial public offering on the Swiss Stock Exchange in Zurich, citing bad market conditions. |