| Underwriter | Biotechnology | Date | Offering price per share** | 8/17/01 | Offering Gross | After-Market Performance |
| | ||||||
ABN Amro | Arena Pharmaceuticals Inc. (ARNA)1 | 6/22 | $27.50 | $18.32 | $130.6 | -33% |
Adams, Harkness & Hill | XOMA Ltd. (XOMA) | 6/26 | $15 | $10.40 | $43.3 | -31% |
Arnold & S. Bleichroeder Inc. | XOMA Ltd. (XOMA) | 6/26 | $15 | $10.40 | $43.3 | -31% |
Banc of America Securities | Atrix Laboratories Inc. (ATRX) (co-lead) | 8/9 | $23 | $24 | $69 | +4% |
InterMune Inc. (ITMN)2 | 6/29 | $32 | $43.95 | $287.1 | +37% |
|
Seattle Genetics Inc. (SGEN) (IPO) | 3/7 | $7 | $5.34 | $49 | -24% |
|
C.E. Unterberg, Towbin | Vion Pharmaceuticals Inc. (VION) | 8/10 | $5 | $5 | $12.5 | 0% |
CIBC World Markets Corp. | Atrix Laboratories Inc. (ATRX) | 8/9 | $23 | $24 | $69 | +4% |
Exact Sciences Corp. (EXAS) (co-lead, IPO)3 | 1/31 | $14 | $9.87 | $56 | -30% |
|
Praecis Pharmaceuticals Inc. (PRCS)4 | 2/15 | $24.56 | $9.10 | $186.7 | -63% |
|
Seattle Genetics Inc. (SGEN) (IPO) | 3/7 | $7 | $5.34 | $49 | -24% |
|
Third Wave Technologies Inc. (TWTI) (IPO) | 2/12 | $11 | $6.96 | $82.5 | -37% |
|
XOMA Ltd. (XOMA) | 6/26 | $15 | $10.40 | $43.3 | -31% |
|
Credit Suisse First Boston | Charles River Laboratories Inc. (NYSE:CRL) (co-lead)5 | 3/16 | $19 | $34.74 | $66.5 | +82% |
Charles River Laboratories Inc. (NYSE:CRL) (co-lead)6 | 7/20 | $29 | $34.74 | $58 | +20% |
|
Praecis Pharmaceuticals Inc. (PRCS) (co-lead)4 | 2/15 | $24.56 | $9.10 | $186.7 | -63% | |
Dain Rauscher Wessels | Arena Pharmaceuticals Inc. (ARNA)1 | 6/22 | $27.50 | $18.32 | $130.6 | -33% |
Hemosol Inc. (HMSL) | 3/1 | $8.78 | $4.57 | $70.7 | -48% |
|
Third Wave Technologies Inc. (TWTI) (IPO) | 2/12 | $11 | $6.96 | $82.5 | -37% |
|
Fidelity Capital Markets | Third Wave Technologies Inc.(TWTI) (IPO) | 2/12 | $11 | $6.96 | $82.5 | -37% |
Gerard Klauer Mattison & Co. | EntreMed Inc. (ENMD) (lead) | 2/27 | $18 | $12.06 | $26.1 | -33% |
Vion Pharmaceuticals Inc. (VION) (lead) | 8/10 | $5 | $5 | $12.5 | 0% | |
Gruntal & Co. LLC | Atrix Laboratories Inc. (ATRX) | 8/9 | $23 | $24 | $69 | +4% |
J.P. Morgan Chase & Co. | Aviron Inc. (AVIR) | 2/2 | $50 | $27.99 | $400 | -44% |
Regeneron Pharmaceuticals Inc. (REGN)7 | 3/20 | $25 | $27.94 | $162.5 | +12% |
|
Scios Inc. (SCIO) (lead) | 6/22 | $21 | $20.03 | $120.75 | -5% |
|
Seattle Genetics Inc. (SGEN) (lead, IPO) | 3/7 | $7 | $5.34 | $49 | -24% |
|
Ladenburg Thalmann & Co. | Guilford Pharmaceuticals (placement agent) Inc. (GLFD) (co-lead) | 1/16 | $17.50 | $12.41 | $46.5 | -3% |
Lazard Freres & Co. LLC | Arena Pharmaceuticals Inc. (ARNA)1 | 6/22 | $27.50 | $18.32 | $130.6 | -33% |
Legg Mason Wood Walker (placement agent) | Guilford Pharmaceuticals Inc. (GLFD) (co-lead) | 1/16 | $17.50 | $12.41 | $46.5 | -3% |
Lehman Brothers Inc. | Charles River Laboratories Inc. (NYSE:CRL) (co-lead)5 | 3/16 | $19 | $34.74 | $66.5 | +82% |
Charles River Laboratories Inc. (NYSE:CRL) (co-lead)6 | 7/20 | $29 | $34.74 | $58 | +20% |
|
InterMune Inc. (ITMN) (lead)2 | 6/29 | $32 | $43.95 | $287.1 | +37% | |
Scios Inc. (SCIO) | 6/22 | $21 | $20.03 | $120.75 | -5% | |
Third Wave Technologies Inc. (TWTI) (lead, IPO) | 2/12 | $11 | $6.96 | $82.5 | -37% | |
Merrill Lynch & Co. | Exact Sciences Corp. (EXAS) (co-lead, IPO)3 | 1/31 | $14 | $9.87 | $56 | -30% |
Regeneron Pharmaceuticals Inc. (REGN) (lead)7 | 3/20 | $25 | $27.94 | $162.5 | +12%
| |
Morgan Stanley Dean Witter Inc. | Aviron Inc. (AVIR) | 2/2 | $50 | $27.99 | $400 | -44% |
Robertson Stephens Inc. | InterMune Inc. (ITMN)2 | 6/29 | $32 | $43.95 | $287.1 | +37% |
Regeneron Pharmaceuticals Inc. (REGN)7 | 3/20 | $25 | $27.94 | $162.5 | +12%
|
|
Robert W. Baird & Co. Inc. | Third Wave Technologies Inc. (TWTI) (IPO) | 2/12 | $11 | $6.96 | $82.5 | -37% |
Salomon Smith Barney | Praecis Pharmaceuticals Inc. (PRCS) (co-lead)4 | 2/15 | $24.56 | $9.10 | $186.7 | -63% |
S.G. Cowen Securities Corp. | Aviron Inc. (AVIR) | 2/2 | $50 | $27.99 | $400 | -44% |
Charles River Laboratories Inc. (NYSE:CRL)6 | 7/20 | $29 | $34.74 | $58 | +20% |
|
CV Therapeutics Inc. (CVTX) (lead) | 6/7 | $49.50 | $43 | $100 | -13% |
|
Scios Inc. (SCIO) | 6/22 | $21 | $20.03 | $120.75 | -5% |
|
Transkaryotic Therapies Inc. (TKTX) (lead) | 6/26 | $28.50 | $30.95 | $100.3 | +9% |
|
Thomas Weisel Partners LLC | Arena Pharmaceuticals Inc. (ARNA) (lead)1 | 6/22 | $27.50 | $18.32 | $130.6 | -33% |
Exact Sciences Corp. (EXAS) (co-lead, IPO)3 | 1/31 | $14 | $9.87 | $56 | -30% |
|
UBS Warburg LLC | Hemosol Inc. (HMSL) (lead) | 3/1 | $8.78 | $4.57 | $70.7 | -48% |
InterMune Inc. (ITMN)2 | 6/29 | $32 | $43.95 | $287.1 | +37% |
|
U.S. Bancorp Piper Jaffray | Alteon Inc. (AMEX:ALT) (lead) | 7/25 | $2.25 | $2.50 | $10.13 | +11% |
Atrix Laboratories Inc. (ATRX) (co-lead) | 8/9 | $23 | $24 | $69 |
|
|
Charles River Laboratories Inc. (NYSE:CRL)6 | 7/20 | $29 | $34.74 | $58 | +20% |
|
XOMA Ltd. (XOMA) (lead) | 6/26 | $15 | $10.4 | $43.3 | -31% |
|
Notes: | ||||||
* The financings in this chart are for public offerings in the U.S. only. The data were compiled primarily from BioWorld Financial Watch's monthly financing charts covering the period from Jan. 1 to Aug. 17, 2001. Those charts were published on Feb. 12, March 5, April 9, May 7, June 11, July 9, and Aug. 6, 2001. The gross proceed totals listed reflect only those shares sold by companies. Additional shares sold by selling stockholders are noted below. | ||||||
** All prices in U.S. dollars. Offering price per share is adjusted to reflect any post-offering splits. | ||||||
Unless otherwise noted, shares are traded on the Nasdaq exchange. | ||||||
1. Arena sold 4M shares and selling stockholders sold another 1M shares. | ||||||
2. Intermune's offering consisted of 3.75M shares sold at $32 a share, raising $120M, and the sale of 5.75% convertible subordinated notes for $130M. The offering included an overallotment option for 545,896 shares and $19.5M principal amount of convertible subordinated notes. | ||||||
3. In Exact's IPO, the U.S. portion of the offering consisting of 3.2M shares was led by Merrill Lynch & Co., CIBC World Markets Corp. and Thomas Weisel Partners LLC. The international portion of the offering, about 800,000 shares, was led by Merrill Lynch International, CIBC World Markets plc and Thomas Weisel Partners LLC. | ||||||
4. Praecis' offering included 750,000 shares sold by a selling stockholder. | ||||||
5. Charles River's public offering was for 7M shares, 3.5M sold by the company and another 3.5M sold by selling stockholders. The underwriters exercised their overallotment option for 1.05M shares, sold by stockholders. | ||||||
6. Charles River's offering was for 8M shares, 6M of which were sold by selling stockholders. | ||||||
7. Regeneron's offering was for 7M shares, 500,000 of which were offered by a shareholder. | ||||||
