I. COMMENCED TRADING IN MARCH

Company (Symbol)

Date Filed

Date Comm.

Shares/Units (M)

Price Per Share/Unit

Gross (M)

Net (M)

Shares Out M)

Fully Diluted

Lead Underwriters

INITIAL OFFERINGS

MorphoSys AG (Neuer Mkt:MORG)

9/98

3/9

1.03

$27.21 (25 Euro)

$28

26E

3.6

­

DBAG


FOLLOW-ON OFFERINGS

Abgenix Inc.

1/27

3/4

3.0S

$15

$45

$42.8E

14.6

19.1

BRS, LB, PGE

Cerus Corp.

2/11

3/31

2.2S

$21

$46.2

$43.9E

11.4

43.7E

MSC, BTAB, SGC

ChiRex Inc.* (CHRX)

2/24

3/19

2.5S

$19

$47.5

$45.1

11.9

14.4

CSFBC, DRW HQ, LM


TOTAL: 166.7

NOTE:

* ChiRex Inc. filed a shelf registration in 1998, whichbecame effective on 12/28/98, covering the future sale of up to $100M indebt securities, preferred stock, depositary shares, warrants and commonstock. The shares were offered as part of that shelf registration.


II. FILED AND PENDING

Company (Symbol)

Date Filed

Shares/Units
(M)

Price Range

Shares Out (M)

Lead,
Other UWs

Value@ ($M)


INITIAL OFFERINGS

There are currently no pending IPOs.


FOLLOW-ON OFFERINGS

Ribozyme Pharmaceuticals Inc.

3/26

1.8S

$5

11

­

$9

QLT Phototherapeutics Inc.

3/30

2.25S

$42.75

27.26

CIBC, BTAB, INGB, NB, WDR

$96.2

Synsorb Biotech Inc.

3/23

6S (approx.)

$1.94

20.1

TDS, HSBC, CAN, DSC, LOM

$10


III. WITHDRAWN OR POSTPONED

There were no withdrawn or postponed offerings in March.


OTHER NOTES:

E = estimated; ND = not disclosed, reported and/or available;S = shares; U = units; W = warrants

"Date filed" indicates the date on which the company announcedthat it had filed a preliminary prospectus with the Securities and ExchangeCommission for its offering. It is not necessarily the same date as thatwhich is printed on the preliminary prospectus itself.

In completed offerings, the number of shares sold includesthe overallotment (in full or in part) if that option has been exercisedby the time this publication goes to press.

Shares outstanding refers to the number of shares outstandingafter the public offering. In the case of those offerings which are stillpending, it assumes that the number of shares sold in the offering willbe equal to the number intended for sale as per the prospectus.


Underwriters' Key:

BRS (BancBoston Robertson Stephens Inc.); BTAB (BT Alex. Brown Inc.);CI (Carnegie Inc.); CSFBC (Credit Suisse First Boston Corp.); DBAG (DeutscheBank AG); DLJ (Donaldson, Lufkin & Jenrette Securities Corp.); DRW(Dain Rauscher Wessels); HQ (Hambrecht & Quist LLC); INGB (ING BaringFurman Selz LLC); LB (Lehman Brothers); LM (Legg Mason Wood Walker Inc.);MSC (Morgan Stanley & Co. Inc.); NB (Nesbitt Burns Inc.); PAR (ParibsCapital); PGE (Pacific Growth Equities Inc.); PJI (Piper Jaffray Inc.);RF (Robert Fleming & Co. Ltd.); SGC (SG Cowen Securities Corp.); TDSecurities Inc. (TDS); HSBC James Capel Canada Inc. (HSBC); Canaccord CapitalCorp. (CAN); Dundee Securities Corp. (DSD); Loewen, Ondaatje, McCuthceonLtd. (LOM); WDR (Warburg Dillon Read LLC)