Recently Completed Follow-On Offerings

%Change

Date Price Per No. Of Date Price Per No. Of In Stock Price

Company Filed Share ($) Shares (M) Completed Share ($) Shares (M) FromFile Date

Interneuron 5/3/96 41.00 2.5 6/4/96 39.00 3.0 -4.8

Anesta (1) 4/29/96 12.50 2.0 6/6/96 15.00 2.0 +20.0

IDEC Pharm. 5/3/96 27.12 1.5 6/7/96 24.00 1.8 -11.5

Targeted Gen. 4/17/96 5.07 3.5 6/20/96 4.00 3.5 -21.1

Oravax 4/1/96 13.62 2.5 6/26/96 7.25 2.0 -46.7

Cholestech(2) 5/9/96 6.25 3.0 6/28/96 5.00 2.5 -20.0

Recently Withdrawn Follow-On Offerings

% Change InStock

Date Price Per No. Of Date Price Per Price From File Date

Company Filed Share ($) Shares (M) Withdrawn Share ($) To Withdrawal Date

Gliatech 5/15/96 13.50 1.7 6/7/96 12.50 -7.4

NeXstar 5/29/96 24.37 2.5 6/25/96 18.75 -23.0

Follow-On Offerings Still Pending

Price Per Price Per %Change In Stock

Date Share On No. Of Share On PriceFrom File Date

Company Filed File Date ($) Shares (M) 6/28/96 ($) To 6/28/96

La Jolla Pharm. 5/31/96 7.13 3.0 5.50 -22.9

Immune Response 6/7/96 12.63 2.5 11.50 -8.9

Creative Bio 6/10/96 9.00 2.0 8.50 -5.5

Agouron Pharm. 6/21/96 39.25 2.5 39.00 -0.6

Recently Completed Initial Public Offerings

%Change

Date Est. Price No. Of Date Price Per No. Of From Midpoint

Company Filed Range ($) Shares (M) Completed Share ($) Shares (M) OfFiling Range

Genset (3) 5/14/96 12-15 4.2 6/5/96 16.00 5.4 +18.5

Virus Res. Inst. 4/12/96 11-13 2.3 6/5/96 12.00 2.3 0

Affymetrix 4/15/96 11-13 5.0 6/6/96 15.00 6.0 +25.0

Entremed 4/15/96 14-16 3.2 6/12/96 15.00 3.2 0

Collagenex 4/17/96 13-15 2.1 6/20/96 10.00 2.0 -28.6

NOTES:

This is not a complete list of all biotechnology public offerings filedwith the Securities and Exchange Commission in recent weeks. For acomprehensive list of offerings both completed and pending, pleaseconsult the July 8, 1996, BioWorld Financial Watch.

(1) Anesta Corp.'s offering included 2M shares sold by the companyand 1M shares sold by selling shareholders.

(2) Cholestech priced its offering $0.75 below the $5.75 closing priceon 6/27/96. Pricing secondaries below the previous-day's closingprice is known as pricing "in the hole."

(3) Genset's offering consisted of 4.2M American Depositary Shares(ADS) representing 1.4M common shares. The Paris-basedcompany's offering was international: ADSs (each of whichrepresents 0.33 common shares) were offered in the U.S. and Canada,common shares were offered in France and a combination of ADSsand common shares were offered elsewhere.

(c) 1997 American Health Consultants. All rights reserved.