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I. COMMENCED TRADING IN FEBRUARY
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
Cerep SA* 11/27 2/18 0.3S $36.95 $11.1 10.3E 2.0 ND BARS; HQ; PF
Quadrant ND 2/19 15.4 $2.14 $32.9 ND ND ND NI
Healthcare plc**
(LSE:QTH)
Vysis Inc. 10/20 2/4 3.0S $12.00 $36.0 $32.3 9.7 10.6 FS; DMG; ES
(VYSI)***
TOTAL: $80.0M
NOTES:
* Cerep SA came public on the Nouveau Marche. There is no trading symbol. The company's corporate collaborator Sanofi SA bought US$3.71M in equity (0.1M shares at the initial public offering [IPO] price) in a private transaction concurrent with the IPO. Prices have been converted at an exchange rate of FFr6.09/US$1.
** Quadrant Healthcare plc came public on the London Stock Exchange. It sold 15.4M shares at $2.14 each, primarily to institutional investors. Prices have been converted at an exchange rate of £0.608/US$1.
*** Vysis Inc. had registered 3.5M shares for sale in its IPO, at a range of $13-$15. The offering came up short, however. The company sold 3M shares at $12. It also issued 0.675M shares to its parent company, Amoco Corp. (which owns 68.9% of the company post-IPO), in exchange for $8.1M of debt.
FOLLOW-ON OFFERINGS
There were no follow-on public offerings in February.
II. FILED AND PENDING
Company Date Shares/ Price Shares Lead, Value@
(Symbol) Filed Units (M) Range Out (M) Other UWs ($M)
INITIAL OFFERINGS
Cell Pathways Inc. 10/9 2.5S $11-$13 10.2 SOL; BARS; CC $27.5
CombiChem Inc. 10/15 2.25S $11-$13 13.2 BARS; DLJ; UBS $24.8
CuraGen Corp.* 10/16 ND ND ND MSDW; LB; BS ND
Genzyme Molecular 4/28 ND ND ND PW; CSFBC; CC $35
Oncology Division**
LJL Biosystems Inc. 12/31 2.5S $11-$13 10.6 NBMS; HQ; VBW $27.5
Nanogen Inc.*** 12/19 ND ND ND MSDW; LB; SBCW $40
PRA International Inc. 10/22 2.75S $10-$12 7.8 SBA; NBMS; WAH $27.5
RiboGene Inc.+ 10/27 2.3S $10-$12 6.8 ES; GRU; CRI $23
NOTES:
* The exact terms of CuraGen Corp.'s IPO have not been disclosed; however, corporate collaborators and existing shareholders Biogen Inc. and Genentech Inc. will buy an aggregate $10M of CuraGen's stock (at the public offering price) in private placements concurrent with the IPO.
** Genzyme Corp. (NASDAQ:GENZ) is creating a new division, Genzyme Molecular Oncology (GMO). The stock being offered in the IPO, which Genzyme Corp. is still contemplating, is Genzyme common stock and is intended to track the performance of the new division.
*** The exact terms of Nanogen Inc.'s IPO have not been disclosed, with the exception of the fact that the company hopes to raise $40M in the process. Concurrently with the IPO, Nanogen is undertaking a private placement of its stock (at the public offering price) with Becton, Dickinson & Co., Hoechst AG and Elan Corp. plc for $21M total.
+ RiboGene Inc.'s corporate collaborator, Abbott Laboratories, intends to buy $4M of stock in the IPO, at the IPO price.
FOLLOW-ON OFFERINGS
Company Date Shares/ Price Shares Lead, Value@
(Symbol) Filed Units (M) Range Out (M) Other UWs ($M)
GelTex Pharma- 1/29 2.5S — 16.1 CC, CIBCO, HQ $69.4
ceuticals Inc. (GELX)
III. WITHDRAWN OR POSTPONED
Idec Pharma- 2/24 2.0S — 21.6 MSDW; NBMS $78.5
ceuticals Corp.
(IDPH)*
Ophidian Pharma- 8/8 2.5S; $6 9.8 NS $15
ceuticals Inc.** 2.5W
Scriptgen Pharma- 11/20 3.0S $11-$13 11.7 SBCW; VBW $33
ceuticals Inc.#
Sibia Neurosciences 11/4 2.25S — 11.5 UBS; PJI; VSI $13.5
Inc. (SIBI)##
NOTES:
* Idec Pharmaceuticals Corp. announced 3/4 that it had withdrawn its follow-on stock offering, citing market conditions.
** Ophidian Pharmaceuticals Inc. announced 2/25 that it had withdrawn its initial public offering (IPO), citing market conditions.
# Scriptgen Pharmaceuticals Inc. announced 2/13 that it was postponing its IPO due to unattractive market conditions; on 2/27, the company formally withdrew the offering.
## Sibia Neurosciences Inc. announced 2/12 that it had withdrawn its follow-on stock offering, citing market conditions.
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 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 3/4/98 closing price for follow-on offerings.

Underwriters' Key:

BARS (BancAmerica Robertson Stephens); BS (Bear, Stearns & Co. Inc.); CC (Cowen & Co.); CIBCO (CIBC Oppenheimer Corp.); CRI (Cruttenden Roth Inc.); CSFBC (Credit Suisse First Boston Corp.); DLJ (Donaldson, Lufkin & Jenrette Securities Corp.); DMG (Deutsche Morgan Grenfell Inc.); ES (Everen Securities Inc.); FS (Furman Selz LLC); GRU (Gruntal & Co. LLC); HQ (Hambrecht & Quist LLC); LB (Lehman Brothers); MSDW (Morgan Stanley, Dean Witter & Co.); NBMS (NationsBanc Montgomery Securities Inc.); NI (Nomura International plc); NS (National Securities Corp.); PF (Pinatton Finance); PJI (Piper Jaffray Inc.); PW (PaineWebber Inc.); SBA (Smith Barney Inc.); SBCW (SBC Warburg Dillon Read Inc.); SOL (Salomon Brothers Inc.); UBS (UBS Securities LLC); VBW (Volpe Brown Whelan & Co.); VSI (Vector Securities International Inc.); WAH (Wessels, Arnold & Henderson)