Company (Symbol)

Date Filed

Date Comm.

Shares/Units (M)

Price

Shares Out (M)

Lead, Other Underwriters

Gross (M)

Net (M)

I. COMMENCED TRADING IN JULY

INITIAL OFFERINGS

AppliedMolecular Evolution Inc. (AMEV)1

5/12

7/26

5.35S

$19

22.8

CIBC World Markets Corp. PaineWebber Inc. SG Cowen

$101.6

$94.5 (Estimated)

Arena Pharmaceuticals Inc. (AGNT)2

4/28

7/28

6S

$18

21.0

ING Barings LLC Prudential Vector Healthcare SG Cowen

$108.0

$99.2

Argonaut Technologies Inc. (AGNT)3

3/8

7/24

4.6

$15

17.0

UBS Warburg LLC ING Barings SG Cowen

$69.0

$63.0

Chromos Molecular Systems Inc.4 (Canada;TSE:CHR)

5/30

7/7

3.75

C$8 (US$5.40)

12.1

Yorkton Securities Geopel McDermid Securities BMO Nesbitt Burns

C$30 (US$20.3)

C$27.5 (US$18.6)

Decode Genetics Inc. (Iceland; DCGN)5

3/8

7/21

11S

$18

44.4

Morgan Stanley Dean Witter Lehman Brothers

$198.7

$182.2

Discovery Partners International Inc. (DPII)6

5/9

7/27

5S

$18

22.4

Chase H&Q (co-lead) Lehman Brothers (co-lead) UBS Warburg LLC

$90.0

$82.5

Gemini Genomics plc (UK; GMNI)7

6/23

7/25

6ADS

$14

62.9

SG Cowen Chase H&Q

$84.0

$75.2

Genencor International Inc. (GCOR)8

5/8

7/27

7S

$18

58.9

Merrill Lynch & Co. Chase H&Q Credit Suisse First Boston Salomon Smith Barney

$126.0

$115.7

GeneScanEurope AG (Germany; Neuer Markt:GEP)9

N/A

7/21

2.7S

EUR39.50 (US$36.87)

N/A

Baden-W|rttembergische Bank AG Concord Effekten AG

EUR106.8 (US$99.7)

N/A

Illumina Inc. (ILMN)10

4/23

7/27

6S

$16

31.3

Goldman Sachs & Co. Chase H&Q SG Cowen

$96.0

$88.0

Keryx Biopharma ceuticals Inc. (Israel; KERX)11

5/19

7/28

4.6

$10

18.8

Roth Capital Partners Inc. (U.S. lead) WestLB Panmure Ltd. (European lead) Gruntal & Co. LLC

$46.0

$41.3

Pain Therapeutics Inc. (PTIE)12

3/4

7/13

5S

$12

25.8

Thomas Weisel Partners CIBC World Markets Tucker Anthony Cleary Gull

$60.0

$54.7

Pharmagene plc (LSE:PGN)13

N/A

7/31

17.8

#2.85 (US$4.29)

N/A

N/A

#37.0 (US$55.63)

N/A

Transgenomic Inc. (TBIO)14

3/10

7/19

5.15S

$15

18.5

Chase H&Q Bear, Stearns & Co. Dain Rauscher Wessels

$77.3

$69.9

Variagenics Inc. (VGNX)15

3/29

7/21

5.75S

$14

23.0

Credit Suisse First Boston Chase H&Q SG Cowen

$80.5

$75

Total: $1,312.7M

Number of IPOs in July: 15

Average value of July IPOs: $87.5M

Number of IPOs year-to-date: 47

Total raised in IPOs year-to-date: $4,288.5M

Average value of follow-ons year-to-date: $91.3M

Notes:

1 The figures for Applied Molecular Evolution's offering take into account the underwriters' exercise of an overallotment option for 697,000 shares.

2 Arena's underwriters have an overallotment option for an additional 900,000 shares.

3 Argonaut's underwriters have an overallotment option for an additional 690,000 shares.

4 Chromos' offering was conducted in Canada on the Toronto Stock Exchange. The underwriters have an overallotment option for an additional 562,500 shares.

5 The figures for Decode's offering take into account the underwriters' exercise of an overallotment option for 1.44M shares.

6 Discovery Partners' underwriters have an overallotment option for an additional 750,000 shares.

7 Gemini's offering consisted of 6M American depositary shares, each of which represents two ordinary shares. The underwriters have an overallotment option for an additional 900,000 ADSs.

8 Genencor's underwriters have an overallotment option for 1.05M shares.

9 The figures for GeneScan's offering take into account the underwriters' exercise of an overallotment option for 262,500 shares.

10 Illumina's underwriters have an overallotment option for an additional 900,000 shares.

11 Keryx's underwriters have an overallotment option for an additional 690,000 shares.

12 Pain Therapeutics' underwriters have an overallotment option for an additional 750,000 shares.

13 Pharmagene's IPO was conducted on the London Stock Exchange.

14 The figures for Transgenomic take into account the underwriters' exercise of an overallotment option for 672,000 shares.

15 The figures for Variagenics' offering take into account the underwriters' exercise of an overallotment option for 750,000 shares.

FOLLOW-ON OFFERINGS

AVI BioPharma Inc. (AVII)16

6/16

7/27

3S

$7.25

21.4

Paulson Investment Co. I-Bankers Securities Inc. First Colonial Securities

$21.75

$19.8

Zeltia (Spain)17

N/A

7/6

3S

EUR60.50 (US$57.64)

N/A

Hong Kong Shanghai Bank BSCH B&M Caixa Galicia

EUR181.5 (US$172.5)

N/A

Total: $194.3M

Number of follow-on offerings in July: 2

Average value of July follow-ons: $97.1M

Number of follow-on offerings year-to-date: 38

Total raised in follow-ons year-to-date: $7,647.6M

Average value of follow-ons year-to-date: $201.3M

Notes:

16 AVI's underwriters have an overallotment option for an additional 450,000 shares.

17 Zeltia's offering was conducted on the Madrid Stock Exchange. The underwriters have an overallotment option for an additional 650,000 shares.

II. FILED AND PENDING

Company (Symbol)*

Date Filed

Shares/Units (M)

Price Range

Shares Out (M)**

Lead, Other Underwriters

Est. Value (M)

INITIAL OFFERINGS

3-Dimensional Pharmaceuticals Inc. (DDDP)1

5/23

4S

$13-15

18.2

Bear Stearns & Co. Chase H&Q U.S. Bancorp Piper Jaffray

$56.0

AtheroGenics Inc. (AGIX)2

2/25

6S

$11-13

22.8

Chase H&Q. Robertson Stephens Adams, Harkness & Hill A.G. Edwards & Sons Inc.

$72.0

Cellomics Inc. (CLMX)3

3/3

6S

$16-18

19.6

Prudential Vector Healthcare ING Barings LLC Dain Rauscher Wessels

$102.0

Ciphergen Biosystems Inc. (CIPH)4

3/20

N/A

N/A

N/A

SG Cowen Securities Corp. ING Barings LLC Warburg Dillon Read LLC

$86.3

Compugen Ltd. (Israel)5

7/20

5S

$10-12

N/A

Robertson Stephens U.S. Bancorp Piper Jaffray Invemed Associates

$55.0

Deltagen Inc. (DGEN)6

4/13

7S

$13-15

28.8

Salomon Smith Barney Robertson Stephens U.S. Bancorp Piper Jaffray

$98.0

Durect Corp. (DRRX)7

4/20

7S

$10-12

45.8

Morgan Stanley Dean Witter Chase H&Q CIBC World Markets Corp.

$77.0

Dyax Corp. (DYAX)8

5/19

4S

$13-15

18.1

JP Morgan Securities Inc. Lehman Brothers Inc. Pacific Growth Equities Inc.

$56.0

Eden Bioscience Corp. (EDEN)9

7/7

N/A

N/A

N/A

Merrill Lynch Stephens Inc.

$86.25

Esperion Therapeutics (ESPR)10

2/24

6

$8-10

24

Robertson Stephens (co-lead) Chase H&Q (co-lead) U.S. Bancorp Piper Jaffray

$54.0

Genaissance Pharmaceuticals Inc. (GNSC)11

4/20

6S

$11-13

21.6

Deutsche Banc Alex. Brown Inc. Bear Stearns & Co. Inc. Salomon Smith Barney Inc. UBS Warburg LLC

$72.0

Genometrix Inc. (GNMX)12

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

$77.0

Genomica Corp. (GNOM)13

3/15

6S

$15-17

21.7

CIBC World Markets Dain Rauscher Wessels Prudential Vector Healthcare Stadtsparkasse Kvln

$96.0

GroPep Ltd. (Australia)14

N/A

A$1.60 (US$0.94)

9.4

N/A

N/A

A$17.4 (US$10.4)

InforMax Inc. (INMX)15

7/11

N/A

N/A

N/A

Bear, Stearns & Co. U.S. Bancorp Piper Jaffray Adams, Harkness & Hill

$75.0

Inspire Pharmaceuticals Inc. (ISPH)16

2/25

5.5S

$12

24.4

Deutsche Banc Alex. Brown Chase H&Q U.S. Bancorp Piper Jaffray

$60.5

Introgen Therapeutics Inc. (INGN)17

2/17

N/A

N/A

10.3

SG Cowen Securities Corp. Prudential Securities Inc.

$92.0

Ista Pharmaceuticals Inc. (ISTA)18

4/5

4.5

$13-15

15.9

CIBC World Markets Corp. Prudential Vector Healthcare Thomas Weisel

$63.0

Kosan Biosciences Inc. (KOSN)19

3/31

N/A

N/A

N/A

Warburg Dillon Read LLC CIBC World Markets Prudential Vector Healthcare

$80.0

Large Scale Biology Corp. (LSBC)20

4/6

4.5

$12-14

22.4

J.P. Morgan & Co. Chase H&Q William Blair LLC & Co.

$58.5

Lion Bioscience AG (Germany; LEON)21

7/11

4.58ADS

EUR37-44 (US$35.36-42.05)

N/A

Morgan Stanley Dean Witter Deutsche Bank

EUR185.3 (US$177.09)

MediChem Life Sciences Inc. (MCLS)22

6/16

N/A

N/A

N/A

UBS Warburg LLC Chase H&Q William Blair & Co.

$50.0

The Medicines Company (MDCO)23

5/19

5S

$14-16

28.3

J.P. Morgan & Co. Robertson Stephens CIBC World Markets

$75.0

NetGenics Inc. (NTGC)24

3/13

5.5S

$12

23.5

Chase H&Q Warburg Dillon Read LLC

$66.0

Pharsight Corp. (PHST)25

4/17

3.75

$12-14

18.5

Donaldson, Lufkin & Jenrette Chase H&Q Wit Soundview DLJ Direct Inc.

$48.8

Regeneration Technologies Inc. (RTIX)26

4/27

3.8

$12-14

21.3

Banc of America Securities LLC Lehman Brothers Inc. Stephens Inc.

$49.4

Rosetta Inpharmatics Inc. (RSTA)27

3/17

7S

$10-12

29.9

Lehman Brothers Lazard Freres & Co. LLC Prudential Vector Healthcare Fidelity Capital Markets

$77.0

Telik Inc. (TELK)28

4/3

5S

$9-11

21.1

Lehman Brothers Chase H&Q Legg Mason Wood Walker Inc. UBS Warburg LLC Fidelity Capital Markets

$50.0

Third Wave Technologies Inc. (TWTI)29

7/31

N/A

N/A

N/A

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

$100.0

Versicor Inc. (VERS)30

3/22

4.6

$11-13

22.0

Lehman Brothers Chase H&Q Pacific Growth Equities Inc. UBS Warburg LLC

$55.2

FOLLOW-ON OFFERINGS

AltaRex Corp. (Canada; TSE:AXO)31

4/24

9.2S

C$0.85 (US$0.57)

55.7

HSBC Securities Roth Capital Partners Greenwich Global LP

C$7.82 (US$5.27)

The Immune Response Corp. (IMNR)32

7/12

2.4S

$5.85

29.8

First Security Van Kasper Gruntal & Co. LLC

$14

III. WITHDRAWN OR POSTPONED

There were no withdrawn or postponed offerings in July.

Notes:

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

** Shares outstanding include new shares to be issued in the offering.

1 3-D's prospectus was amended 7/13/00, 7/18/00, 7/28/00 and 8/01/00. The estimated value of the IPO, $56M, is based on the sale of 4M shares at $14, the midpoint of the expected price range. The underwriters have an overallotment option for an additional 600,000 shares.

2 AtheroGenics' prospectus was amended 3/6/00, 7/13/00 and 7/14/00. The estimated value of the IPO, $72M, is based on the sale of 6M shares at $12, the midpoint of the expected price range. The underwriters have an overallotment option for an additional 900,000 shares.

3 Cellomics' prospectus was amended 4/14/00. The estimated value of the IPO, $102M, is based on the sale of 6M shares at $17, the midpoint of the expected price range. The underwriters have an overallotment option for 900,000 shares.

4 Ciphergen's prospectus leaves blank the number of shares, share price and number of shares outstanding. The estimated value of the IPO, $86.3M, is the proposed maximum aggregate offering price, which is used to calculate SEC filing fees.

5 The estimated value of Compugen's IPO, $55M, is based on the sale of 5M shares at $11 per share, the midpoint of the expected price range. The underwriters have an overallotment option for an additional 750,000 shares.

6 Deltagen's prospectus was amended 6/15/00, 7/17/00 and 7/27/00. The estimated value of the IPO, $98M, is based on the sale of 7M shares at $14 per share, the midpoint of the expected price range. The underwriters have an overallotment option for an additional 1.05M shares.

7 Durect's prospectus was amended 6/16/00 and 7/28/00. 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.

8 Dyax's prospectus was amended 7/7/00 and 7/27/00. The estimated value of the IPO, $56M, is based on the sale of 4M shares at $14, the midpoint of the expected price range. The underwriters have an overallotment option for an additional 600,000 shares.

9 Eden's prospectus leaves blank the number of shares, share price and number of shares outstanding. The estimated value of the IPO, $86.25M, is the proposed maximum aggregate offering price, which is used to calculate SEC filing fees.

10 Esperion's prospectus was amended 7/10/00. the estimated value of the IPO, $54M, is based on the sale of 6M shares at $11, the midpoint of the expected price range. The underwriters have an overallotment option for an additional 900,000 shares.

11 Genaissance's prospectus was amended 7/3/00, 7/10/00, 7/28/00 and 7/31/00. The estimated value of the IPO, $72M, is based on the sale of 6M shares at $12, the midpoint of the expected price range. The underwriters have an overallotment option for an additional 900,000 shares.

12 Genometrix's prospectus was amended 4/19/00, 5/2/00, 5/22/00 and 5/23/00. The estimated value of the IPO, $77M, is based on the sale of 7M shares at $11 per share, the midpoint of the expected price range. The underwriters have an overallotment option for an additional 1.05M shares.

13 Genomica's prospectus was amended 3/16/00, 4/19/00 and 4/20/00. The estimated value of the IPO, $96M, is based on the sale of 6M shares at an assumed price of $16 per share. The underwriters have an overallotment option for an additional 900,000 shares.

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

15 InforMax's prospectus leaves blank the number of shares, share price and number of shares outstanding. The estimated value of the IPO, $75M, is the proposed maximum aggregate offering price, which is used to calculate SEC filing fees.

16 Inspire's prospectus was amended 2/25/00, 6/29/00, 7/11/00, 7/24/00 and 8/2/00. The value of the IPO, $60.5M, is based on the sale of 5.5M shares at $11, the midpoint of the expected price range. The underwriters have an overallotment option for an additional 825,000 shares.

17 Introgen's prospectus leaves blank the number of shares, share price and number of shares outstanding. The estimated value of the IPO, $92M, is the proposed maximum aggregate offering price, which is used to calculate SEC filing fees.

18 Ista's prospectus was amended 7/14/00. The estimated value of the IPO, $63M, is based on the sale of 4.5M shares at $14, the midpoint of the expected price range.

19 Kosan's prospectus leaves blank the number of shares, share price and number of shares outstanding. The estimated value of the IPO, $80M, is the proposed maximum aggregate offering price, which is used to calculate SEC filing fees.

20 Large Scale's prospectus was amended 6/29/00 and 7/24/00. The estimated value of the IPO, $58.5M, is based on the sale of 4.5M shares at $13, the midpoint of the expected price range. The underwriters have an overallotment option for an additional 675,000 shares.

21 Lion Biosciences is seeking listings on Nasdaq exchange and on the Neuer Market in Germany. The offering consists of 4.58M American depositary shares.

22 MediChem's prospectus leaves blank the number of shares, share price and number of shares outstanding. The estimated value of the IPO, $50M, is the proposed maximum aggregate offering price, which is used to calculate SEC filing fees.

23 The Medicines Company's prospectus was amended 7/3/00 and 7/21/00. The estimated value of the IPO, $75M, is based on the sale of 5M shares at $15, the midpoint of the expected price range. The underwriters have an overallotment option for an additional 750,000 shares.

24 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.

25 Pharsight's prospectus was amended 6/12/00, 7/13/00 and 7/28/00. The estimated value of the IPO, $48.8M, is based on the sale of 3.75M shares at $13, the midpoint of the expected price range. The underwriters have an overallotment option for an additional 562,500 shares.

26 Regeneration's prospectus was amended 5/15/00, 5/24/00, 6/23/00, 7/19/00 and 8/02/00. The estimated value of the IPO, $49.5M, is based on the sale of 3.8M shares at $13, the midpoint of the expected price range. The underwriters have an overallotment option for an additional 855,000 shares. Selling stockholders are also selling 1.9M shares as part of the offering.

27 Rosetta's prospectus was amended 4/15/00, 5/9/00, 6/14/00, 6/21/00, 7/26/00 and 8/2/00. 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.

28 Telik's prospectus was amended 7/3/00 and 7/28/00. The estimated value of the IPO, $50M, is based on the sale of 5M shares at $10, the midpoint of the expected price range. The underwriters have an overallotment option for an additional 750,000 shares.

29 Third Wave's prospectus was amended 8/2/00. The filing leaves blank the number of shares, share price and number of shares outstanding. The estimated value of the IPO, $100M, is the proposed maximum aggregate offering price, which is used to calculate SEC filing fees.

30 Versicor's prospectus was amended 6/9/00, 7/5/00 and 7/25/00. The estimated value of the IPO, $55.2M, is based on the sale of 4.6M shares at $12, midpoint of the expected price range. The underwriters have an overallotment option for an additional 690,000 shares.

31 AltaRex's prospectus leaves blank the number of shares to be offered, the price per share and the total amount the company is seeking in the offering.

32 Immune Response Corp.'s offering is being made under a previously filed shelf registration. The underwriters have an overallotment option for 360,000 shares.

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