I. COMMENCED TRADING IN JULY |
||||||||
INITIAL OFFERINGS |
||||||||
Company | Date | Date | Shares/ | Price | Shares | Lead, Other | Gross | Net |
There were no initial public offerings in July. |
||||||||
Total: $0M |
||||||||
Number of IPOs in July: 0 |
||||||||
Average value of July IPOs: $0M |
||||||||
Number of IPOs for 2001: 8 |
||||||||
Total raised in IPOs in 2001: $268.55M |
||||||||
Average value of IPOs in 2001: $33.57M |
||||||||
FOLLOW-ON OFFERINGS |
||||||||
Company | Date | Date | Shares/ | Price | Shares | Lead, Other | Gross | Net |
Alteon Inc. | 3/5 | 7/25 | 4.5S | $2.25 | 22.6 | U.S. Bancorp Piper Jaffray | $10.13 | $9.4 |
Charles River | 6/27 | 7/20 | 2S | $29 | 42.1 | CS First Boston (co-lead); Lehman Brothers Inc. (co-lead); SG Cowen Securities Corp.; U.S. Bancorp Piper Jaffray | $58 | $55.2 |
Inflazyme Pharmaceuticals Ltd. (Canada; TSE:IZP)3 | 6/19 | 7/9 | 3.75S | C$2.70 (US$1.76) | RBC Dominion Securities Inc.; CIBC World Markets Corp.; Yorkton Securities Inc.; Dlouhy Merchang Group Inc. | C$10.125 (US$6.59) | N/A |
|
EXERCISED OVERALLOTMENT OPTIONS |
||||||||
Company | Date | Date | Shares/ | Price | Shares | Lead, Other | Gross | Net |
Arena | 6/5 | 7/3 | 0.75S | $27.50 | 26.7 | Thomas Weisel Partners LLC; Dain Rauscher Wessels; ABN Amro Rothschild LLC; Lazard Freres & Co. LLC | $20.6 | $19.6 |
InterMune | 6/5 | 7/6 | 0.55S | $32 | 27.7 | Lehman Brothers Inc.; Bank of America Securities Inc.; Robertson Stephens Inc.; UBS Warburg LLC | $37 | N/A |
Transkaryotic | 12/13 | 7/2 | 0.42S | $28.50 | 25.8 | SG Cowen Securities Corp. | $12 | N/A |
Notes: |
||||||||
# Unless otherwise indicated, shares are traded on the Nasdaq exchange. |
||||||||
AMEX = American Stock Exchange; NYSE = New York Stock Exchange; TSE = Toronto Stock Exchange |
||||||||
1. Alteon's offering includes an overallotment option for 300,000 shares. |
||||||||
2. Charles River's offering was for 8M shares, 6M of which were sold by selling stockholders. Underwriters have an overallotment option for 1.2M additional shares. |
||||||||
3. Inflazyme's underwriters have an overallotment option for 562,500 shares. |
||||||||
4. Arena completed a public offering in June, followed by the exercise of the overallotment option in July. The exercised option brought in another $20.6M making the total gross proceeds for $130.6M. |
||||||||
5. In June, InterMune raised $250M with the offering of shares and convertible subordinated notes. In July, it raised another $37M with the exercise of the overallotment option for 545,896 shares and $19.5M principal amount of the notes. |
||||||||
6. In June, Transkaryotic Therapies completed its offering. In July the overallotment option was exercised. The total offering involved 3.52M shares, which grossed $100.4M. |
||||||||
Total: $74.72M |
||||||||
Number of follow-on offerings in July: 3 |
||||||||
Average value of July follow-ons: $24.9M |
||||||||
Number of follow-on offerings in 2001: 22 |
||||||||
Total raised in follow-ons in 2001: $1,854.97M |
||||||||
Average value of follow-ons in 2001: $84.3M |
||||||||
II. FILED AND PENDING |
||||||||
INITIAL OFFERINGS | ||||||||
Company | Date | Shares/ | Price | Shares | Lead, Other | Value |
||
Acadia | 12/21 | 5S | $13-15 | 15.8 | Robertson Stephens Inc. (co-lead); U.S. Bancorp Piper Jaffray (co-lead) | $75 |
||
APBiotech | 10/3 | 18.2S | $15-17 | 208.6 | Morgan Stanley Dean Witter (co-lead); Goldman, Sachs & Co. (co-lead); Chase H&Q; Salomon Smith Barney | $291.2 |
||
BioNumerik | 3/2 | N/A | N/A | N/A | Morgan Stanley Dean Witter; UBS Warburg LLC; SG Cowen Securities Corp. | $50 |
||
CombiMatrix | 11/22 | N/A | N/A | N/A | Salomon Smith Barney (co-lead); J.P. Morgan & Co. (co-lead) | $100 |
||
diaDexus Inc. | 11/20 | 7S | $12-14 | 31.1 | Lehman Brothers Inc.; CIBC World Markets Corp.; Robertson Stephens Inc.; Fidelity Capital Markets | $91 |
||
NetGenics Inc. | 3/13/00 | 5.5S | $11-13 | 23.5 | Chase H&Q; UBS Warburg LLC | $66 |
||
Ribapharm | 5/15 | 18S | $13-15 | N/A | UBS Warburg LLC; CIBC World Markets Corp. | $252 |
||
Senomyx Inc. (SNMX)8 | 2/21 | N/A | N/A | 17.4 | Deutsche Banc Alex. Brown; Bear, Stearns & Co. Inc.; CIBC World Markets Corp. | $80 |
||
Xcyte Therapies | 12/22 | N/A | N/A | N/A | SG Cowen Securities Corp. (co-lead); U.S. Bancorp Piper Jaffray (co-lead); Dain Rauscher Inc.; First Security Van Kasper Inc. | $86.2 |
||
FOLLOW-ON OFFERINGS |
||||||||
Company | Date | Shares/ | Price | Shares | Lead, Other | Value | ||
Aastrom | 12/7 | 7.7S | $0.96 | 33.84 | N/A | $7.392 |
||
Alexion | 10/6 | N/A | N/A | N/A | N/A | $300 |
||
Ariad | 6/22 | 4.5S | $4.79 | 34.6 | N/A | $21.6 |
||
Atrix | 2/15 | 3S | N/A | 18.2 | Banc of America Securities (co-lead); U.S. Bancorp Piper Jaffray (co-lead); CIBC World Markets Corp.; Gruntal & Co. LLC | $100 |
||
Cell Pathways | 2/7 | N/A | N/A | N/A | N/A | $25 |
||
Chiron Corp. | 6/7 | 5.2S | $6.19 | 190 | N/A | $400 |
||
ConjuChem | 5/30 | N/A | N/A | N/A | Yorkton Securities; BMO Nesbitt Burns Inc.; HSBC Securities Inc. | N/A |
||
Exelixis Inc. | 7/30 | N/A | N/A | 48 | N/A | $150 |
||
ICOS Corp. | 6/26 | N/A | N/A | 53 | N/A | $300 |
||
InSite Vision | 2/2 | N/A | N/A | N/A | Ladenburg Thalmann & Co. (placement agent) | $40 |
||
Matrix | 5/25 | N/A | N/A | 26 | N/A | $30 |
||
Medarex Inc. | 6/19 | N/A | N/A | 72.7 | Goldman Sachs & Co.; Credit Suisse First Boston; JP Morgan; Morgan Stanley Dean Witter; Bear, Stearns & Co. Inc.; Dain Rauscher Wessels | $175 |
||
Microcide | 2/12 | N/A | N/A | N/A | N/A | $35 |
||
NeoTherapeutics | 1/3 | N/A | N/A | 17.26 | N/A | $50 |
||
Vion | 4/3 | 4.7S | $6.75 | 26.2 | N/A | $31.73 |
||
ViroPharma | 7/3 | N/A | N/A | 18.7 | N/A | $300 |
||
III. WITHDRAWN AND POSTPONED |
||||||||
Company | Date | Shares/ | Price | Shares | Lead, Other Underwriters | Value |
||
DNA Sciences | 1/5 | N/A | N/A | N/A | Lehman Brothers Inc.; CIBC World Markets Corp.; Dain Rauscher Wessels Inc. | $125 |
||
Ethypharm | 6/18 | 10.94S | $8.95- | N/A | Schroder Salomon Smith Barney; ABN AMRO Rothschild; Robertson Stephens International; Banque Nomura France | EUR160 |
||
Meristem | 6/27** | 2.275S | EUR22- |
N/A | Credit Lyonnais; WestLB Panmure | EUR54 |
||
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. |
||||||||
N/A = Not available or reported. |
||||||||
AMEX = American Stock Exchange; TSE = Toronto Stock Exchange |
||||||||
1. Acadia's underwriters have an overallotment option for 750,000 shares. |
||||||||
2. 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. |
||||||||
3. BioNumerik filed for a $50M IPO. The number of shares to be offered, the price range, and the number of shares outstanding were not disclosed. |
||||||||
4. CombiMatrix did not disclose any further details. |
||||||||
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. NetGenics' IPO value, $66M, is based on the sale of 5.5M shares at $12 each, the midpoint of the expected price range. The underwriters have an overallotment option for 825,000 shares. |
||||||||
7. Ribapharm's IPO was originally proposed in June 2000. The company amended its prospectus on May 15. The value, $252M, is based on the offering of 18M shares at $14 each, the midpoint of the expected price range. The underwriters have an overallotment option for 2.7M shares. |
||||||||
8. Senomyx did not disclose any further details. |
||||||||
9. Xcyte did not disclose any further details. |
||||||||
10. Aastrom amended its prospectus 12/29 increasing the offering from 6.35M shares to 7.7M shares. The offering value, $7.4M, is based on the proposed maximum aggregate price of $0.96 per share. The company placed 1.18M shares in a private placement in May, raising $1.1M. The company placed 1.89M shares in private placements in June, raising $2.95M. It also placed 1.05M shares in July, raising $1.5M. |
||||||||
11. Alexion filed a shelf registration to offer common stock, debt or warrants, up to a value of $300M. |
||||||||
12. Ariad's offering value is based on the proposed maximum offering share price of $4.79. |
||||||||
13. Atrix originally filed to offer 4M shares. It filed a preliminary prospectus supplement in July to offer 3M shares. |
||||||||
14. Cell Pathways filed a shelf registration for the sale of $25M in common stock. |
||||||||
15. Chiron Corp. plans to raise $400M through an offering of 30-year liquid yield option notes that could equate to 5.2M shares. |
||||||||
16. ConjuChem filed a preliminary prospectus for a new issue and secondary offering in Canada. No other information was made available. |
||||||||
17. Exelixis filed a shelf registration to sell up to $150M in common stock. |
||||||||
18. ICOS filed a shelf registration statement for up to $300M. |
||||||||
19. InSite filed a shelf registration to sell $40M in stock |
||||||||
20. Matrix filed a shelf registration covering up to $30M in securities. |
||||||||
21. Medarex plans to raise $175M through an offering of convertible notes due 2006. The offering will include an overallotment option for $26.25M principal amount of the notes to cover overallotments. |
||||||||
22. Microcide filed a shelf registration for the sale of up to $35M in securities. |
||||||||
23. NeoTherapeutics filed a shelf registration covering the sale of debt securities, common stock, preferred stock, depository shares or warrants up to $50M. The company amended its prospectus April 19. |
||||||||
24. Vion filed a shelf registration statement to sell up to 5M shares, but later amended it to sell 4.7M shares. The value, $31.73M, is based on the 5/29 closing stock price of $6.75. |
||||||||
25. ViroPharma filed a universal shelf registration for $300M in mixed securities. |
||||||||
26. DNA Sciences withdrew its IPO, citing changes in its business and financing plans, recent market volatility and other considerations. |
||||||||
27. Ethypharm deferred its IPO on the Premier Marche exchange of Euronext Paris. |
||||||||
28. Meristem postponed its planned IPO on the Nouveau Marche of Euronext Paris due to market conditions. |