I. COMMENCED TRADING IN MAY

Company
(Symbol)#

Date Filed

Date Comm.

Shares/ Units (M)

Price

Shares Out (M)

Lead, Other Underwriters

Gross (M)

Net (M)


INITIAL OFFERINGS

Cytomyx Holdings plc (UK; AIM:CYX)1

5/14

5/29

9.375

4 pence (US$0.06)

179.4

N/A

#2 (US$2.8)

N/A

Notes:

N/A = Not available or reported.

1 Cytomyx went public on the Alternative Investment Market of the London Stock Exchange. A total of 9.375M new shares were placed, but 55.4M shares were converted from loan notes at the completion of the float.

Total: $2.8M

Number of IPOs in May: 1

Average value of May IPOs: $2.8M

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
(Symbol)#

Date Filed

Date Comm.

Shares/ Units (M)

Price

Shares Out (M)

Lead, Other Underwriters

Gross (M)

Net (M)


NicOx SA (France; Nouveau Marche:NICOX)2

5/23**

5/23**

0.81S

EUR68.2 (US$58)

N/A

SG Cowen Credit Agricole Indosuez Lazard Cazenove

EUR55.4 (US$48)

N/A

Notes:

** Denotes the date the item ran in BioWorld International.

2 NicOx raised US$48M in a follow-on offering conducted on the Nouveau Marche in Paris. Underwriters have an overallotment option for 153,000 shares. The issue consisted of 870,000 new shares and 150,000 existing shares, but some were sold in a private placement.

Total: $48M

Number of follow-on offerings in May: 1

Average value of May follow-ons: $48M

Number of follow-on offerings in 2001: 12

Total raised in follow-ons in 2001: $1039.1M

Average value of follow-ons in 2001: $86.59M

II. FILED AND PENDING

Company
(Symbol/
Proposed
Symbol)#*

Date Filed

Shares/ Units (M)

Price Range

Shares Out (M)

Lead, Other
Underwriters

Value (M)


INITIAL OFFERINGS

Acadia Pharmaceuticals Inc. (ACAD)1

12/21

5S

$13-15

15.8

Robertson Stephens Inc. (co-lead) U.S. Bancorp Piper Jaffray (co-lead)

$75

APBiotech (APBI; unit of Nycomed Amersham plc)2

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 (BNPI)3

3/2

N/A

N/A

N/A

Morgan Stanley Dean Witter UBS Warburg LLC SG Cowen Securities Corp.

$50

CombiMatrix Corp. (CLMX)4

11/22

N/A

N/A

N/A

Salomon Smith Barney (co-lead) J.P. Morgan & Co. (co-lead)

$100

diaDexus Inc. (DDXS)5

11/20

7S

$12-14

31.1

Lehman Brothers Inc.CIBC World Markets Corp. Robertson Stephens Inc. Fidelity Capital Markets

$91

DNA Sciences Inc. (DNAS)6

1/5

N/A

N/A

N/A

Lehman Brothers Inc. CIBC World Markets Corp. Dain Rauscher Wessels Inc.

$125

Kinetek Pharmaceuticals Inc. (Canada)7

10/20

N/A

N/A

N/A

N/A

N/A

NetGenics Inc. (NTGC)8

3/13/00

5.5S

$11-13

23.5

Chase H&Q UBS Warburg LLC

$66

Ribapharm Inc. (RIBA)9

5/15

18S

$13-$15

N/A

UBS Warburg LLC CIBC World Markets Corp.

$252

Senomyx Inc.

(SNMX)10

2/21

N/A

N/A

17.4

Deutsche Banc Alex. Brown

Bear, Stearns & Co. Inc.

CIBC World Markets Corp.

$80

Xcyte Therapies Inc. (XCYT)11

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

Zentaris AG (Germany)12

5/23**

9.5S

EUR11-14 (US$9.30- $11.9)

N/A

Dresdner Kleinwort Wasserstein HSBC Trinkaus und Burkhardt Landesbank Baden-W|rttemberg

EUR118.8 (US$100.7)

FOLLOW-ON OFFERINGS

Aastrom Biosciences Inc. (ASTM)13

12/7

7.7S

$0.96

33.84

N/A

$7.392

Alexion Pharmaceuticals Inc. (ALXN)14

10/6

N/A

N/A

N/A

N/A

$300

Alteon Inc. (AMEX:ALT)15

3/5

N/A

N/A

22.5

N/A

$50

Atrix Laboratories Inc. (ATRX)16

2/15

4S

$25

14.9

N/A

$100

Cell Pathways Inc. (CLPA)17

2/7

N/A

N/A

N/A

N/A

$25

ConjuChem Inc. (Canada; TSE:CJC) 18

5/30

N/A

N/A

N/A

Yorkton Securities BMO Nesbitt Burns Inc. HSBC Securities Inc.

N/A

CV Therapeutics Inc. (CVTX)19

1/4

N/A

N/A

19.7

N/A

$190

InSite Vision Inc. (AMEX:ISV)20

2/2

N/A

N/A

N/A

Ladenburg Thalmann & Co.

(placement agent)

$40

Matrix Pharmaceuticals Inc. (MATX)21

5/25

N/A

N/A

26

N/A

$30

Medarex Inc. (MEDX)22

12/22

N/A

N/A

N/A

N/A

$500

Microcide Pharmaceuticals Inc. (MCDE)23

2/12

N/A

N/A

N/A

N/A

$35

NeoTherapeutics Inc. (NEOT)24

1/3

N/A

N/A

17.26

N/A

$50

Orchid BioSciences Inc. (ORCH)25

5/10

N/A

N/A

33.5

N/A

$75

Scios Inc. (SCIO)26

1/19

5S

$24.56

44.62

JP Morgan Securities Inc. Lehman Brothers Inc. SG Cowen Securities Corp.

$115.8

Transkaryotic Therapies Inc. (TKTX)27

12/13

N/A

N/A

N/A

N/A

$500

Vion Pharmaceuticals Inc. (VION)28

4/3

4.7S

$6.75

26.2

N/A

$31.73

XOMA Ltd. (XOMA)29

11/17

10S

$11.25

N/A

N/A

$112.5

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 DNA Sciences did not disclose any further details.

7 Kinetek's proposed IPO was filed in Canada. No further details were disclosed.

8 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.

9 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.

10 Senomyx did not disclose any further details.

11 Xcyte did not disclose any further details.

12 Zentaris is planning its IPO for Frankfurt's Neuer Markt on June 18. Up to 9.5M shares will be offered with an additional greenshoe of 1.425M shares. The value of the offering, US$100.7M, is based on the offering price of US$10.60, the midpoint of the expected price range.

13 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.

14 Alexion filed a shelf registration to offer common stock, debt or warrants, up to a value of $300M.

15 Alteon filed a shelf registration statement to sell $50M in shares.

16 Atrix filed to put 4M shares on the shelf. The value of the proposed offering, $100M, is based on the Feb. 15 closing stock price of $25.

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

18 ConjuChem filed a preliminary prospectus for a new issue and secondary offering in Canada. No other information was made available.

19 CV Therapeutics refiled its shelf registrations totaling $190M on April 23.

20 InSite filed a shelf registration to sell $40M in stock

21 Matrix filed a shelf registration covering up to $30M in securities.

22 Medarex filed a shelf registration statement to offer up to $500M of common stock, preferred stock, warrants and debt securities.

23 Microcide filed a shelf registration for the sale of up to $35M in securities.

24 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. The company plans to offer 0.59M shares to Montrose Investments Ltd. and 0.59M shares to Srong River Investments for $6M.

25 Orchid filed a shelf registration to sell $75M worth of stock. No further details were disclosed.

26 Scios amended its shelf registration for 6.4M shares on 5/30 to issue 5M shares at an assumed offering price of $24.56 each. The underwriters have an overallotment option for 750,000 shares.

27 Trankaryotic Therapies filed a shelf registration statement for the sale of up to $500M in securities.

28 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.

29 Xoma filed a shelf registration statement for the sale of up to 10M shares. The value, $112.5M, is based on the Nov. 16 closing price.

No Comments