I. COMMENCED TRADING IN NOVEMBER

Company (Symbol)

Date Filed

Date Comm.

Shares/Units (M)

Price

Shares Out (M)

Lead, Other Underwriters

Gross (M)

Net (M)

INITIAL OFFERINGS

Array Biopharma Inc. (ARRY)1

9/15

11/17

6.5S

$7.50

21.97

Lehman Brothers (co-lead) Deutsche Banc Alex. Brown (co-lead) Legg Mason Wood Walker

$48.75

$44.44

Adolor Corp. (ADLR)2

2/8

11/14

6.9S

$15

27.9

Merrill Lynch & Co. (co-lead) Lehman Brothers (co-lead) Pacific Growth Equities Inc.

$103.5

$95.6

AeroGen Inc. (AEGN)3

8/25

11/10

3.6S

$12

19.4

Chase H&Q CIBC World Markets Corp. SG Cowen Securities Corp.

$43.2

$38.7

ConjuChem Inc. (Canada; TSE:CJC)4

10/6

11/30

4.55S

C$5.50

N/A

Yorkton Securities Inc. BMO Nesbitt Burns Inc. HSBC Securities Inc. National Bank Financial Inc.

C$25.02 US$16.32

N/A

Genetix Group plc (UK)5

10/18**

11/29**

21.4S

150 pence

N/A

West LB Panmure

#17 US$24.6

N/A

GlycoDesign Inc. (Canada; TSE:GD)6

10/2

11/30

2.128S

C$11.75

N/A

Loewen, Ondaatje, McCutcheon Ltd.

C$25.004 US$16.26

N/A

ReNeuron Ltd. (UK)7

N/A

11/10

N/A

N/A

N/A

N/A

#19.5 US$28

N/A

Rigel Pharmaceuticals Inc. (RIGL)8

9/18

11/28

5S

$7

35.9

Morgan Stanley Dean Witter Lehman Brothers Robertson Stephens Inc.

$35

$33.9

Total: $315.63M

Number of IPOs in November: 8

Average value of November IPOs: $39.45M

Number of IPOs year-to-date: 87

Total raised in IPOs year-to-date: $7,006.73M

Average value of IPOs year-to-date: $80.54M

Notes:

** Denotes the date item ran in BioWorld International.

1 Array's underwriters have an overallotment option for 800,000 shares.

2 Adolor's IPO includes the exercise of the underwriters' overallotment option for 900,000 shares.

3 AeroGen's underwriters have an overallotment option for 540,000 shares.

4 ConjuChem's underwriters have an overallotment option for 682,500 shares.

5 Genetix Group's IPO was conducted in the UK. The underwriters have an overallotment option for 3M shares.

6 GlycoDesign's IPO was conducted in Canada.

7 ReNeuron floated on London's Alternative Investment Market.

8 Rigel's underwriters have an overallotment option for 750,000 shares.

FOLLOW-ON OFFERINGS

Company (Symbol)

Date Filed

Date Comm.

Shares/Units (M)

Price

Shares Out (M)

Lead, Other Underwriters

Gross (M)

Net (M)

ArQule Inc. (ARQL)9

10/20

11/21

3.36S

$22.50

17

UBS Warburg LLC CIBC World Markets Corp. Gerard Klauer Mattison & Co. Legg Mason Wood Walker Inc.

$75.6

$70.87

Avigen Inc. (AVGN)10

10/10

11/2

1.66S

$37.50

19.42

Americal Securities

$62.25

$59

Avigen Inc. (AVGN)11

10/10

11/15

.69S

$45.06

19.42

Granite Financial Group

$31.3

$29.9

Cima Labs Inc. (CIMA)12

10/9

11/2

3.2

$50

14.15

Deutsche Banc Alex. Brown S.G. Cowen Securities Corp. Fahnestock & Co. Inc.

$160

$149.9

Corvas International Inc.

10/2

11/2

5.75S

$20

27

CIBC World Markets Corp. Prudential Vector Healthcare U.S. Bancorp Piper Jaffray

$115

107.5

CuraGen Corp. (CRGN)14

11/6

11/16

4.8S

$41

42.1

Morgan Stanley Dean Witter Lehman Brothers (co-leads) Dain Rauscher Wessels Bear, Stearns & Co. Prudential Vector Healthcare Thomas Weisel Partners LLC

$196.8

$186.5

IDEC Pharmaceuticals (IDPH)15

11/3

11/16

2.6S

$181.81

47.8

Merrill Lynch & Co. Salomon Smith Barney Bank of America Securities

$472.7

$449.5

Immunex Corp. (IMNX)16

10/18

11/10

70S

$39.75

548

Morgan Stanley Dean Witter Merrill Lynch & Co. (co-leads) Credit Suisse First Boston Lehman Brothers Bank of America Securities Bear, Stearns & Co. Inc. Robertson Stephens Inc.

$2.78B

$2.71B

ImmunoGen Inc. (IMGN)17

10/17

11/16

4S

$33

38.36

SG Cowen Securities Corp. Robertson Stephens Inc. Adams, Harkness & Hill Inc.

$132

$125.1

NPS Pharmaceuticals Inc. (NPSP)18

10/13

11/10

4.6S

$42

29.64

CIBC World Markets Corp. Prudential Vector Healthcare Robertson Stephens Inc.

$193.2

$180.7

OSI Pharmaceuticals Inc. (OSIP)19

9/29

11/1

6.15S

$70

33.8

Robertson Stephens (co-lead) Lehman Brothers Inc. (co-lead) Prudential Vector Healthcare Lazard Freres & Co. LLC Adams, Harkness & Hill Inc.

$430.7

$404

Notes:

9 ArQule's offering includes the exercise of the underwriters' overallotment option for 438,000 shares.

10 Avigen's offering was part of its shelf registration filed in October. Americal is the placement agent.

11 Avigen's offering was part of its shelf registration filed in October. Granite is the placement agent.

12 Cima's offering includes the underwriters' exercise of an overallotment option for 247,500 shares. It does not include another 195,000 shares offered by selling stockholders.

13 Corvas' offering includes the underwriters' exercise of an overallotment option for 750,000 shares.

14 CuraGen's offering is part of its shelf registration filed in October. The underwriters have an overallotment option for 720,000 shares.

15 Idec's underwriters have an overallotment option for 390,000 shares. The company is offering 2.08M shares in the U.S. and 520,000 shares abroad.

16 Immunex's offering is for 70M shares, 20M offered by the company and 50M offered by American Home Products Corp. AHP also granted the underwriters an overallotment option for 10.5M shares, which was exercised 11/14. Total gross proceeds to Immunex were $795M.

17 ImmunoGen's underwriters have an overallotment option for 600,000 shares.

18 NPS' underwriters exercised their overallotment option for 600,000 shares, which is included in the figures.

19 OSI's underwriters exercised in full their overallotment option for 802,500 shares.

Total: $4,649.55M

Number of follow-on offerings in November: 11

Average value of November follow-ons: $422.7M

Number of follow-on offerings year-to-date: 62

Total raised in follow-ons year-to-date: $15,802.25M

Average value of follow-ons year-to-date: $254.88M

II. FILED AND PENDING

INITIAL OFFERINGS

Company (Symbol/Proposed Symbol)*

Date Filed

Shares/Units (M)

Price Range

Shares Out (M)

Lead, Other Underwriters

Value (M)

Athersys Inc.1 (ATHX)

10/13

N/A

N/A

N/A

Credit Suisse First Boston Dain Rauscher Wessels ING Barings LLC

$115

BioMedicines Inc.2 (BIOS)

11/3

N/A

N/A

15

UBS Warburg LLC U.S. Bancorp Piper Jaffray Pacific Growth Equities

$57.5

BioTissue Technologies AG3 (Germany)

11/29**

1S

EUR27-34

N/A

Landesbank Baden-Wuerttemberg Equinet Securities AG Direkt Anlage Bank AG

EUR27 US$23

Cellomics Inc.4 (CLMX)

3/3

6S

$11-13

24.18

Prudential Vector Healthcare ING Barings LLC Dain Rauscher Wessels

$72

CombiMatrix Corp. (CLMX)5

11/22

N/A

N/A

N/A

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

$100

diaDexus Inc.6 (DDXS)

11/21

N/A

N/A

22.2

Lehman Brothers Inc. CIBC World Markets Corp. Prudential Vector Healthcare Fidelity Capital Markets

$100

DoubleTwist Inc.7 (DBLT)

9/1

5S

$13-15

24.2

Lehman Brothers Inc. Dain Rauscher Wessels Thomas Weisel Partners LLC Fidelity Capital Markets

$70

Genometrix Inc.8 (GNMX)

3/15

7S

$10-12

30.1

Lehman Brothers (co-lead) Chase H&Q (co-lead) Dain Rauscher Wessels Thomas Weisel Partners LLC Fidelity Capital Markets

$77

GenVec Inc.9 (GNVC)

10/5

4

$14-16

17.75

J.P. Morgan & Co. UBS Warburg LLC A.G. Edwards & Sons Inc.

$60

GroPep Ltd.10

8/2**

9.4S

A$1.60

N/A

N/A

A$17.4 US$10.4

Kinetek Pharmaceuticals Inc. (Canada)11

10/20

N/A

N/A

N/A

N/A

N/A

NetGenics Inc. (NTGC)12

3/13

5.5S

$11-13

23.5

Chase H&Q Warburg Dillon Read LLC

$66

Nexia Biotechnologies Inc. (Canada)13

10/20

N/A

N/A

N/A

National Bank Financial Inc. RBC Dominion Securities Inc. BMO Nesbitt Burns Inc. HSBC Securities Inc.

N/A

Novuspharma Inc. (Italy)14

10/30

2.5S

N/A

N/A

N/A

EUR216 US$181.6

Peplin Biotech Ltd.15 (Australia)

8/24

17.5S

A$0.40

N/A

Morgan Corporate Ltd.

A$7 US$3.66

Seattle Genetics Inc. (SGEN)16

11/20

N/A

N/A

21.7

J.P. Morgan Securities Inc. CIBC World Markets Corp. Bank of America Securities LLC

$75

Specialty Laboratories Inc. (NYSE:SP)17

9/12

5S

$14-16

20.2

Merrill Lynch & Co. UBS Warburg LLC U.S. Bancorp Piper Jaffray

$75

Third Wave Technologies (TWTI)18

7/31

8.5S

$12-14

42.5

Lehman Brothers CIBC World Markets Robert W. Baird & Co. Fidelity Capital Markets

$110.5

Starpharma19 (Australia; ASX:SPL)

8/18

24S

A$0.85

86.5

UBS Warburg Australia Ltd.

A$20.4 (US$10.9)

VRI Biomedical Ltd. (Australia)20

11/22**

N/A

N/A

N/A

N/A

A$7.5 US$3.8

FOLLOW-ON OFFERINGS

Alexion Pharmaceuticals Inc. (ALXN)21

10/6

N/A

N/A

N/A

N/A

$300

AltaRex Corp. (Canada; TSE:AXO; OTC BB:ALRXF)22

11/16

N/A

N/A

N/A

N/A

C$15 US$9.6

Aradigm Corp.23 (ARDM)

10/23

N/A

N/A

N/A

N/A

$50

Bone Care International Inc.(BCII)24

9/12

3S

$19.13

14.5

Prudential Vector Healthcare Group U.S. Bancorp Piper Jaffray (co-leads)

$57.4

Guilford Pharmaceuticals Inc. (GLFD)25

11/20

3.5S

N/A

27.4

N/A

$77

ICOS Corp. (ICOS)26

10/11

5S

$47.125

51.9

SG Cowen Securities Corp. Bank of America Securities LLC Prudential Vector Healthcare Group Robertson Stephens Inc. Ragen MacKenzie Inc.

$235.63

ImClone Systems Inc. (IMCL)27

11/9

6S

$57.81

N/A

N/A

$346.86

Neurocrine Biosciences Inc. (NBIX)28

10/4

3S

$33.13

25.1

Robertson Stephens Inc. (co-lead) Salomon Smith Barney (co-lead)

$99.39

Oxford Glyco-Sciences plc (UK; LSE:OGS)29

11/13

N/A

N/A

N/A

Lehman Brothers Credit Suisse First Boston Cazenove & Co.

#150 US$215

Ribozyme Pharmaceuticals Inc. (RZYM)30

11/6

3S

$18.125

N/A

N/A

$54.4

Triangle Pharmaceuticals Inc. (VIRS)31

10/23

N/A

N/A

N/A

N/A

$100

Xoma Ltd. (XOMA)32

11/17

10S

$11.25

N/A

N/A

$112.5

III. WITHDRAWN OR POSTPONED

INITIAL OFFERINGS

Company (Symbol/Proposed Symbol)*

Date Filed/Date Pulled

Shares/Units (M)

Price Range

Shares Out (M)

Lead, Other Underwriters

Value (M)

Elitra Pharmaceuticals Inc. (ELIT)34

9/5

N/A

N/A

N/A

Chase H&Q U.S. Bancorp Piper Jaffray

$86.3

Notes:

* Stock symbols for companies seeking to complete IPOs are proposed. **Denotes the date the item ran in BioWorld International.

1 Athersys' prospectus did not disclose the number of shares to be offered, the price at which they would be offered, or the number of shares outstanding following the offering.

2 BioMedicines' propectus did not disclose the number of shares to be offered or the price at which they would be offered.

3 BioTissue's IPO filing is for Frankfurt's Neuer Markt. In addition to the 1M share certificates offered, there will be a greenshoe of 117,000 shares.

4 Cellomics' prospectus was amended 4/14, 9/5 and 11/16. The estimated value of the IPO, $72, is based on the sale of 6M shares at $12, the midpoint of the expected price range. On 11/16, the company lowered its expected price range to $11-13 from $16-18. The underwriters have an overallotment option for 900,000 shares.

5 CombiMatrix did not disclose the number of shares to be offered or the price at which they would be offered, as well as the number of shares outstanding following the offering.

6 diaDexus' prospectus did not disclose the number of shares to be offered or the price at which they would be offered.

7 The value of DoubleTwist's IPO, $70M, is based on the sale of 5M shares at $14 each, the midpoint of the expected price range. The underwriters have an overallotment option for 750,000 shares.

8 Genometrix's prospectus was amended 4/19, 5/2, 5/22 and 5/23. The estimated value of the IPO, $77M, is based on the sale of 7M shares at $11, the midpoint of the expected price range. The underwriters have an overallotment option for an additional 1.05M shares.

9 GenVec amended its prospectus on 11/14 and 11/28. The underwriters have an overallotment option for 600,000 shares. The value of the IPO, $60M, is based on the offer of 4M shares at $15, the midpoint of the expected price range.

10 GroPep is seeking to complete an IPO in Australia by issuing 9.4M shares at A$1.60, plus additional shares to meet demand.

11 Kinetek's proposed IPO is filed in Canada. It is expected to be completed before mid-December. No other details were disclosed.

12 The estimated value of NetGenics' IPO, $66M, is based on the sale of 5.5M shares at an assumed price of $12 per share. The underwriters have an overallotment option for an additional 825,000 shares.

13 Nexia's proposed IPO is filed in Canada. No other details were disclosed.

14 Novuspharma was expected to price its IPO on Nov. 2. Shares were expected to debut on the Nuovo Mercato. There is an extra greenshoe overallocation option of 375,000 shares.

15 Peplin plans to raise A$7M in its Australian IPO.

16 Seattle Genetics did not disclose the number of shares it would offer or at what price they would be offered.

17 The value of Specialty Laboratories' IPO, $75M, is based on the sale of 5M shares at $15 each, the midpoint of the expected price range. The underwriters have an overallotment option for 750,000 shares.

18 Third Wave's prospectus was amended 9/12. The underwriters have an overallotment option for 1.275 shares.

19 Starpharma's Australian IPO was planned in May but held back due to unfavorable markets at that time. The company will accept oversubscriptions from existing shareholders for up to 2.4M shares.

20 VRI Biomedical is conducting its IPO in Australia.

21 Alexion filed a shelf registration statement with the SEC to permit the company to offer and sell common stock, debt, or warrants to purchase common stock or debt, up to a value of $300M. No other details were disclosed.

22 AltaRex did not disclose the number of shares to be offered, the price at which they would be offered, or the number of shares to be outstanding following the offering.

23 Aradigm did not disclose the number of shares it is offering, at what price they will be offered, or the number of shares to be outstanding following the offering. It also did not disclose a list of underwriters.

24 The value of Bone Care's offering is based on an assumed price of $19.13. The underwriters have an overallotment option for 450,000 shares.

25 Guilford filed a shelf registration statement with the SEC for 3.5M shares.

26 The value of ICOS' offering, $235.63M, is based on the sale of 5M shares at the assumed offering price of $47.125. ICOS'sunderwriters have an overallotment option for 750,000 shares.

27 ImClone filed a shelf registration statement with the SEC for the sale of up to 6M shares. The value, $346.86M, is based on the proposed maximum aggregate offering price of $57.81.

28 Neurocrine's underwriters have an overallotment option for 450,000 shares. The value of the offering, $99.39M, is based on an assumed offering price of $33.13.

29 Oxford filed a registration statment with the SEC for a US$215M offering of its ordinary shares. Shares will be offered in the U.S. as American Depository Shares under the Nasdaq symbol OGSI, as well as in Europe.

30 Ribozyme filed a shelf registration statement with the SEC covering an aggregate of 3M shares of its common stock. The value is based on the assumed price of $18.125, the closing price on 11/13. The company amended its prospectus on 11/15.

31 Triangle filed a shelf registration statement for the sale of up to $100M worth of common stock. No other details were disclosed.

32 Xoma filed a shelf registration statement with the SEC for 10M shares. The value, $112.5M, is based on the closing price on 11/16.

33 Elitra withdrew its IPO on 11/20 due to poor market conditions.