| I. COMMENCED TRADING IN APRIL | |||||||||||||||
| Company | Date | Date | Shares/ | Price | Gross | Net | Shares | Fully | Lead | ||||||
| (Symbol) | Filed | Comm. | Units | Per Share/ | (M) | (M) | Out | Dil. | Underwriters | ||||||
| (M) | Unit | (M) | (M) | ||||||||||||
| INITIAL OFFERINGS | |||||||||||||||
| Nanogen Inc. | 12/19; | 4/13 | 3.9S | $11.00 | $42.9 | $39.0 | 18.2 | 20.2 | MSDW; LB; SBCW | ||||||
| (NGEN)* | 3/20 | ||||||||||||||
| Oxford Glyco- | ND | 4/7 | 11.0S | $4.67 | $51.3 | $47.7E | 36.7 | ND | DKB | ||||||
| Sciences plc | |||||||||||||||
| (LSE:OGS)** | |||||||||||||||
| TOTAL: $94.2M | |||||||||||||||
| NOTES: | |||||||||||||||
| * Nanogen Inc.'s corporate collaborators bought a total of 1.09M shares for $21M in a private placement concurrent with the initial public offering (IPO). The collaborators — Becton Dickinson and Co., Hoechst AG and Elan Corp. plc — bought $6M, $10M and $5M in common stock, respectively, all at the IPO price per share. Those additional proceeds are not included in the total listed above. | |||||||||||||||
| ** Oxford GlycoSciences plc came public on the London Stock Exchange. The company sold 11M shares at $4.667 each (280 pence) for gross proceeds of $51.34M (£30.8M). Company collaborators Incyte Pharmaceuticals Inc. and Pfizer Inc. bought 0.16M and 0.54M shares, respectively, at the IPO price, for additional gross proceeds of $3.26M (£1.96M). Those proceeds are not included in the total listed above. Prices were converted at an exchange rate of £0.6/US$1. | |||||||||||||||
| FOLLOW-ON OFFERINGS | |||||||||||||||
| NeuroSearch | ND | 3/31 | 0.435S | $81.03 | $35.3 | $33.3 | 6.3 | ND | SBCW; UBS; CB | ||||||
| A/S* | |||||||||||||||
| Triangle | 3/10 | 4/9 | 4.03S | $15.00 | $60.4 | $55.8 | 24.0 | 29.3 | SBCW; BS; VSI | ||||||
| Pharmaceuticals | |||||||||||||||
| Inc. (VIRS) | |||||||||||||||
| TOTAL: $60.4M | |||||||||||||||
| NOTE: | |||||||||||||||
| * NeuroSearch A/S' global follow-on offering consisted of a public offering and an institutional offering in Denmark and private placements outside Denmark. This offering occurred in March 1998; the proceeds have been attributed to that month's totals and are not included in the total listed above. NeuroSearch's common shares are listed on the Copenhagen Stock Exchange. The company sold 0.435M shares at $81.025 each (DKr550) for total gross proceeds of $35.25M (DKr239.25M). Prices were converted at an exchange rate of DKr6.788/US$1). | |||||||||||||||
| II. FILED AND PENDING | |||||||||||||||
| Company | Date | Shares/ | Price | Shares | Lead, | Value@ | |||||||||
| (Symbol) | Filed | Units (M) | Range | Out (M) | Other UWs | ($M) | |||||||||
| INITIAL OFFERINGS | |||||||||||||||
| Abgenix Inc. | 4/6 | 3.0S | $10-$12 | 11.1 | BARS, LB | $30 | |||||||||
| Anthra Pharma- | 3/11 | 2.4S | $9.50- | 7.3 | AC; GRU | $22.8 | |||||||||
| ceuticals Inc. | $11.50 | ||||||||||||||
| Cell Pathways Inc. | 10/9 | 2.5S | $11-$13 | 10.2 | SSB; BARS; CC | $27.5 | |||||||||
| Collateral | 4/24 | 3.33S | $11-$13 | 11.6 | BS; RJA; VSI | $36.6 | |||||||||
| Therapeutics Inc. | |||||||||||||||
| CombiChem Inc.* | 10/15 | 2.25S | $8-$10 | 13.2 | BARS; DLJ; SSB | $18 | |||||||||
| Dyax Corp. | 3/23 | 2.5S | ND | 9.8 | SSB; CIBCO; PGE | ND | |||||||||
| Genzyme Molecular | 4/28 | 3.0S | $9-$11 | 13.2 | PW; CC; CSFBC | $27 | |||||||||
| Oncology** | |||||||||||||||
| PRA International Inc. | 10/22 | 2.75S | $10-$12 | 7.8 | SSB; NBMS; WAH | $27.5 | |||||||||
| RiboGene Inc.*** | 10/27 | 2.3S | $10-$12 | 6.8 | ES; GRU; CRI | $23 | |||||||||
| NOTES: | |||||||||||||||
| * CombiChem Inc. amended its initial public offering (IPO) prospectus on 4/7/98. It is still offering 2.25M shares, but has lowered the offering range to $8-$10 per share from $11-$13 per share. As well, Elan Corp. plc (whose subsidiary Athena Neurosciences Inc. is a collaborator of CombiChem) intends to acquire up to $2M worth of shares at the offering price. The amendment also listed Salomon Smith Barney Inc. as one of the underwriters, replacing UBS Securities LLC on the original prospectus. | |||||||||||||||
| ** Genzyme Corp.'s new division, Genzyme Molecular Oncology (GMO), has finally activated its IPO prospectus, exactly 1 year after it first filed the prospectus. | |||||||||||||||
| *** RiboGene Inc.'s corporate collaborator Abbott Laboratories intends to buy $4M of stock in the IPO, at the IPO price. | |||||||||||||||
| FOLLOW-ON OFFERINGS | |||||||||||||||
| Cholestech Corp. | 4/29 | 3.0S | — | 11.3 | PS; VSI; ES | $43.5 | |||||||||
| (CTEC) | |||||||||||||||
| OTHER NOTES: | |||||||||||||||
| E = estimated; LSE = London Stock Exchange; ND = not disclosed, reported and/or available; S = shares; U = units; W = warrants | |||||||||||||||
| "Date filed" indicates the date on which the company announced that it had filed a preliminary prospectus with the Securities and Exchange Commission for its offering. It is not necessarily the same date as that which is printed on the preliminary prospectus itself. | |||||||||||||||
| In completed offerings, the number of shares sold includes the overallotment (in full or in part) if that option has been exercised by the time this publication goes to press. | |||||||||||||||
| Shares outstanding refers to the number of shares outstanding after the public offering. In the case of those offerings which are still pending, it assumes that the number of shares sold in the offering will be equal to the number intended for sale as per the prospectus. | |||||||||||||||
| @ Values are estimated from the low-end range for IPOs or from the 5/6/98 closing price for follow-on offerings. | |||||||||||||||
Underwriters' Key:
AC (Allen & Co. Inc.); BARS (BancAmerica Robertson Stephens); BS (Bear, Stearns & Co. Inc.); CB (Carnegie Bank A/S); CC (Cowen & Co.); CIBCO (CIBC Oppenheimer Corp.); CRI (Cruttenden Roth Inc.); CSFBC (Credit Suisse First Boston Corp.); DKB (Dresdner Kleinwort Benson Ltd.); DLJ (Donaldson, Lufkin & Jenrette Securities Corp.); ES (Everen Securities Inc.); GRU (Gruntal & Co. LLC); LB (Lehman Brothers); MSDW (Morgan Stanley, Dean Witter & Co.); NBMS (NationsBanc Montgomery Securities Inc.); PGE (Pacific Growth Equities Inc.); PS (Prudential Securities Inc.); PW (PaineWebber Inc.); RJA (Raymond James & Associates Inc.); SSB (Salomon Smith Barney Inc.); SBCW (SBC Warburg Dillon Read Inc.); UBS (UBS Securities LLC); VSI (Vector Securities International Inc.); WAH (Wessels, Arnold & Henderson)