I. COMMENCED TRADING IN MARCH

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 March.

Total: $0M

Number of IPOs in March: 0

Average value of March IPOs: $0M

Number of IPOs in 2002: 1

Total raised in IPOs in 2002: $128.8M*

Average value of IPOs in 2002: $128.8M*

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

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)@

Aphton Corp. (APHT)¹

3/19/02

3/21/02

1.2S

$10.50

19.9

Morgan Keegan & Co.

$12.6

$208.95

Cardiome Pharma Corp. (Canada; TSE:COM)²

1/24/02

3/8/02

37.24U

C$0.83

N/A

Sprott Securities; Raymond James Paramount Capital

C$30.9 (US$19.5)

N/A

Hemosol Inc. (Canada; HMSL; TSE: HML)³

3/28/02

3/28/02

4.9U

C$4.50

41

Sprott Securities; Yorkton Securities

C$22 (US
$13.8)

C$184.5 (US$116)

InterMune Inc. Inc. (ITMN)⁴

12/21/01

3/8/02

3S

$37

31.5

Lehman Brothers (co-lead); Morgan Stanley & Co. (co-lead); JP Morgan Securities; Robertson Stephens; UBS Warburg; Adams Harkness & Hill

$111

$1,165.5

Notes:

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

@ Market capitalization calculated is based on the offering price.

N/A = Not available, applicable or reported.

NYSE = New York Stock Exchange; TSE = Toronto Stock Exchange

¹ Aphton raised $12.6M by selling 1.2M shares at $10.50 each.

² Cardiome raised US$19.5M in the public offering, which includes 8.17M units issued under an overallotment option.

³ Hemosol raised US$13.8M in a public offering of 4.9M units. Each unit includes one common share plus a purchase warrant for one-half of one share, in which each purchase warrant is exercisable into one common share at a price of C$5.50 for a period of one year.

⁴ InterMune's underwriters have an overallotment option on 375,000 shares.

Total: $156.9M

Number of follow-on offerings in March: 4

Average value of March follow-ons: $39.225M

Number of follow-on offerings in 2002: 10

Total raised in follow-ons in 2002: $449.03M

Average value of follow-ons in 2002: $44.9M

II. FILED AND PENDING

Company (Symbol/ Proposed Symbol)#*

Date
Filed

Shares/ Units (M)

Price Range (M)

Shares Out (M)

Lead, Other
Underwriters

Value

INITIAL OFFERINGS

Aderis Pharmaceuticals Inc. (ADPX)¹

1/11/02

N/A

N/A

N/A

UBS Warburg (co-lead); CIBC World Markets (co-lead); RBC Capital Markets

$100

AgraQuest Inc. (AGRQ)²

8/3/01

3.5S

$11-13

12.8

Merrill Lynch (co-lead); Stephens (co-lead)

$42

APBiotech (APBI;
unit of Nycomed Amersham plc)³

10/3/00

18.2S

$15-17

208.6

Morgan Stanley Dean Witter (co-lead); Goldman, Sachs (co-lead); Chase H&Q; Salomon Smith Barney

$291.2

Corcept Therapeutics Inc. (CORT)⁴

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)⁵

11/20/00

7S

$12-14

31.1

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

$91

DOV Pharmaceutical Inc. (DOVP)⁶

1/28/02

5S

$14-16

14.99

Lehman Brothers (co-lead); CIBC World Markets (co-lead); Lazard Freres; Fidelity Capital Markets

$75

Innovative Drug Delivery Systems Inc. (IDDS)⁷

1/2/02

5.6S

$8-10

20.65

Thomas Weisel Partners; Wells Fargo Securities; Jefferies & Co.

$50.4

MitoKor Inc.
(MITO)⁸

3/8/02

N/A

N/A

N/A

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

$60

Protarga Inc.
(PRTG)⁹

12/12/01

N/A

N/A

N/A

UBS Warburg (co-lead); U.S. Bancorp Piper Jaffray (co-lead)

$75

Ribapharm Inc. (NYSE:RNA)¹⁰

6/15/00

26S

$13-15

150

UBS Warburg; CIBC World Markets; SG Cowen

$364

ViaCell Inc.
(VIAC)¹¹

1/30/02

N/A

N/A

N/A

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

$115

FOLLOW-ON OFFERINGS

Ariad Pharmaceuticals Inc. (ARIA)¹²

1/9/02

3S

$5.28

35.4

N/A

$15.84

Biopure Corp.
(BPUR)¹³

3/11/02

N/A

N/A

N/A

N/A

$30

BioTransplant Inc.
(BTRN)¹⁴

12/11/01

5S

$8.10

21.1

N/A

$40.5

Celgene Corp.
(CELG)¹⁵

12/21/01

N/A

N/A

75.6

N/A

$500

Cell Pathways Inc.
(CLPA)¹⁶

2/7/01

N/A

N/A

N/A

N/A

$25

Cepheid Inc.
(CPHD)¹⁷

12/21/01

N/A

N/A

26.56

N/A

$35

Cerus Corp.
(CERS)¹⁸

8/13/01

N/A

N/A

15.7

N/A

$300

CollaGenex Pharmaceuticals Inc. (CGPI)¹⁹

10/26/01

0.965S

$8.01

N/A

N/A

$7.7

Cytogen Corp. (CYTO)²⁰

10/26/01

10S

$2.50

79.8

N/A

$25

Exelixis Inc.
(EXEL)²¹

7/30/01

N/A

N/A

49.2

N/A

$150

Genaera Corp.
(GENR)²²

11/21/01

N/A

N/A

N/A

N/A

$50

Genaissance Pharmaceuticals Inc. (GNSC)²³

10/18/01

N/A

N/A

22.8

N/A

$35

Geron Corp.
(GERN)²⁴

1/30/02

N/A

N/A

N/A

N/A

$150

Hollis-Eden Pharmaceuticals Inc. (HEPH)²⁵

2/26/02

3S

$8.71

N/A

N/A

$26.13

InSite Vision Inc. (AMEX:ISV)²⁶

2/2/01

N/A

N/A

N/A

Ladenburg Thalmann (placement agent)

$40

Myriad Genetics Inc. (MYGN)²⁷

11/9/01

N/A

N/A

N/A

N/A

$250

NeoTherapeutics Inc. (NEOT)²⁸

1/3/01

N/A

N/A

23.5

N/A

$50

NPS Pharmaceuticals Inc. (NPSP)²⁹

1/7/02

N/A

N/A

N/A

N/A

$250

Pharmos Corp.
(PARS)³⁰

2/4/02

N/A

N/A

56.6

N/A

$25

SciClone Pharmaceuticals Inc. (SCLN)³¹

11/6/01

N/A

N/A

N/A

N/A

$20

StemCells Inc.
(STEM)³²

3/8/02

15S

N/A

N/A

N/A

$37.8

Targeted Genetics
Corp. (TGEN)³³

12/13/01

8.84S

$2.57

N/A

N/A

$22.72

Tularik Inc. (TLRK)³⁴

8/14/01

N/A

N/A

49.2

N/A

$250

III. WITHDRAWN AND POSTPONED

Company (Symbol/ Proposed Symbol)#*

Date Filed/Date Pulled

Shares/
Units (M)

Price Range

Shares Out (M)

Lead, Other
Underwriters

Value (M)

INITIAL OFFERINGS

CombiMatrix Corp. (CLMX)³⁵

11/22/00
3/27/02

N/A

N/A

N/A

Salomon Smith Barney (co-lead); JP Morgan (co-lead)

$100

Notes:

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

* Stock symbols for companies seeking to complete IPOs are proposed.

N/A = Not available, applicable or reported.

AMEX = American Stock Exchange; NYSE = New York Stock Exchange

¹ Aderis, formerly Discovery Therapeutics Inc., filed for its IPO to raise $100M. Details were not disclosed.

² AgraQuest amended its prospectus in January to offer 3.5M shares. The value, $42M, is based on the offering price of $12 per share, the midpoint of the expected price range.

³ APBiotech's IPO value, $291.2M, is based on the sale of 18.2M shares at $16 each, the midpoint of the expected price range.

⁴ 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.

⁵ 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 for 1.05M shares.

⁶ DOV set the price per share range and the number of shares to be offered in March. The value, $75M, is based on the sale of 5M shares at $15 each, the midpoint of the expected price range.

⁷ 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 for 840,000 shares.

⁸ MitoKor filed for an IPO to raise $60M.

⁹ Protarga filed for its IPO with hopes of raising $75M. It did not disclose the number of shares to be offered or the expected price range.

¹⁰ Ribapharm amended its prospectus in March to offer 26M shares. The value, $364M, is based on the sale of the shares at $14 each, the midpoint of the expected price range. The underwriters have an overallotment option for 2.7M shares. In February, the company decided to conduct the IPO on the New York Stock Exchange instead of Nasdaq.

¹¹ ViaCell filed for a $115M IPO. No further details were disclosed.

¹² Ariad filed a shelf registration to sell up to 3M shares. At the Jan. 8 closing stock price, it would raise $15.84M.

¹³ Biopure filed to sell $30M of common stock from time to time.

¹⁴ BioTransplant filed a shelf registration statement to sell up to 5M shares of its common stock. The value of the offering, $40.5M, is based on the Dec. 11 opening stock price of $8.10.

¹⁵ Celgene filed a universal shelf registration to offer and sell common stock, debt securities and convertible debt securities, up to a total value of $500M.

¹⁶ Cell Pathways filed a shelf registration for the sale of $25M in common stock.

¹⁷ Cepheid filed a shelf registration statement to offer and sell up to $35M of its common stock, preferred stock, debt securities and warrants.

¹⁸ Cerus filed to sell up to $300M of common stock and debt in a shelf offering.

¹⁹ The value of CollaGenex's proposed offering, $7.7M, is based on the Oct. 26 closing stock price of $8.01.

²⁰ Cytogen filed to offer 10M shares at about $2.50 each in a shelf registration. It privately placed 3M shares in January.

²¹ Exelixis filed a shelf registration to sell up to $150M in common stock.

²² 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.

²³ Genaissance filed a shelf registration to offer and sell common stock, preferred stock, debt or warrants, up to a value of $35M.

²⁴ Geron filed a prospectus for the sale of up to $150M in debt securities, common or preferred stock and warrants.

²⁵ 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.

²⁶ InSite filed a shelf registration in February 2001 to sell $40M in stock.

²⁷ Myriad filed a shelf registration statement for the sale of up to $250M of various types of securities.

²⁸ NeoTherapeutics filed a shelf registration 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.

²⁹ NPS filed a shelf registration statement to offer and sell up to $250M of common stock, preferred stock and debt securities.

³⁰ Pharmos filed a shelf registration to sell up to $25M of common stock, preferred stock, debt securities and/or warrants.

³¹ SciClone filed to sell up to $20M in common and preferred stock, debt securities and warrants from time to time through a shelf offering.

³² StemCells filed with the SEC to sell up to 15M shares to raise a maximum of $37.8M. Further details were not disclosed.

³³ 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.

³⁴ Tularik filed to sell up to $250M in common stock and debt securities.

³⁵ CombiMatrix withdrew its IPO due to market conditions and its intent to merge into a wholly owned subsidiary of Acacia Research Corp.