|  |
September 2004 Stock Report
| Company |
9/30/04 Close |
% of 52wk High |
% change from 9/26/03 |
Market Cap ($M) |
Liquidity, Pro forma ($M) |
ST< Debt ($M) |
Company Valuation ($M) |
Valuation/
Employee ($M) |
Burn Rate, annualized ($M) |
Survival Index (Yrs) |
IPO Date |
Cash/cash from IPO/share |
Price/Share At IPO |
IPO Post-Money Valuation ($M) |
| HUMAN GENOME SCIENCES |
$10.91 |
69% |
-17% |
$1,420 |
$901 |
$504 |
$1,023 |
$0.9 |
-$234 |
3.9 |
Dec-93 |
3.6 |
$3.00 |
$176 |
| INCYTE CORP. |
$9.63 |
94% |
112% |
$707 |
$510 |
$418 |
$614 |
$1.4 |
-$254 |
2.0 |
Nov-93 |
5.1 |
$1.88 |
$47 |
| MILLENNIUM PHARMACEUTICALS |
$13.67 |
69% |
-7% |
$4,171 |
$867 |
$204 |
$3,507 |
$2.3 |
-$216 |
4.0 |
May-96 |
4.6 |
$3.00 |
$273 |
| MYRIAD GENETICS |
$17.10 |
88% |
51% |
$524 |
$130 |
$0 |
$394 |
$0.8 |
-$42 |
3.1 |
Oct-95 |
1.9 |
$9.00 |
$163 |
| OSCIENT PHARMACEUTICALS |
$3.55 |
49% |
17% |
$63 |
$84 |
$24 |
$4 |
$0.1 |
-$69 |
1.2 |
Feb-82 |
0.3 |
$11.00 |
$90 |
| 1st Generation Genomics Average |
|
74% |
31% |
$1,377 |
$498 |
|
$1,108 |
$1.1 |
-$163 |
2.8 |
|
3.1 |
|
|
| 1st Generation Genomics Median |
|
69% |
17% |
$707 |
$510 |
|
$614 |
$0.9 |
-$216 |
3.1 |
|
3.6 |
|
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| Company |
9/30/04 Close |
% of 52wk High |
% change from 9/26/03 |
Market Cap ($M) |
Liquidity, Pro forma ($M) |
ST< Debt ($M) |
Company Valuation ($M) |
Valuation/
Employee ($M) |
Burn Rate, annualized ($M) |
Survival Index (Yrs) |
IPO Date |
Cash/cash from IPO/share |
Price/Share At IPO |
IPO Post-Money Valuation ($M) |
| ACLARA BIOSCIENCES |
$3.94 |
85% |
0% |
$143 |
$86 |
$0 |
$58 |
$0.9 |
-$20 |
4.4 |
Mar-00 |
0.2 |
$21.00 |
$682 |
| AFFYMETRIX |
$30.71 |
80% |
39% |
$1,863 |
$216 |
$120 |
$1,767 |
$2.0 |
na |
na |
Jun-96 |
4.1 |
$7.50 |
$287 |
| CALIPER LIFE SCIENCES |
$7.03 |
71% |
16% |
$208 |
$60 |
$2 |
$149 |
$0.3 |
-$38 |
1.6 |
Dec-99 |
0.4 |
$16.00 |
$333 |
| CEPHEID |
$8.62 |
64% |
87% |
$361 |
$74 |
$10 |
$297 |
$1.7 |
-$15 |
5.0 |
Jun-00 |
1.4 |
$6.00 |
$158 |
| CIPHERGEN BIOSYSTEMS |
$3.90 |
28% |
-67% |
$114 |
$43 |
$32 |
$103 |
$0.3 |
-$53 |
0.8 |
Sep-00 |
0.2 |
$16.00 |
$417 |
| COMBIMATRIX CORP. |
$3.50 |
38% |
-21% |
$108 |
$19 |
$0 |
$89 |
$1.5 |
na |
na |
na |
na |
na |
na |
| COMPUGEN LTD |
$5.06 |
63% |
-4% |
$138 |
$20 |
$0 |
$118 |
$0.7 |
na |
na |
Sep-00 |
0.5 |
$10.00 |
$0 |
| ILLUMINA |
$5.91 |
58% |
15% |
$223 |
$28 |
$25 |
$220 |
$6.1 |
-$14 |
2.0 |
Jul-00 |
0.4 |
$16.00 |
$515 |
| NANOGEN |
$3.83 |
26% |
9% |
$130 |
$64 |
$1 |
$67 |
$0.5 |
-$52 |
1.2 |
Apr-98 |
0.3 |
$11.00 |
$197 |
| ORCHID BIOSCIENCES |
$8.03 |
56% |
30% |
$280 |
$34 |
$2 |
$248 |
$0.6 |
-$8 |
4.0 |
May-00 |
1.0 |
$8.00 |
$263 |
| SEQUENOM |
$0.95 |
21% |
-72% |
$38 |
$55 |
$15 |
($2) |
-$0.0 |
-$40 |
1.4 |
Feb-00 |
0.0 |
$26.00 |
$609 |
| TRANSGENOMIC |
$1.16 |
35% |
-29% |
$34 |
$5 |
$6 |
$35 |
$0.1 |
-$16 |
0.3 |
Jul-00 |
0.1 |
$15.00 |
$317 |
| Genomic Supply Average |
|
52% |
0% |
$303 |
$59 |
|
$262 |
$1.2 |
-$28 |
2.3 |
|
0.8 |
|
|
| Genomic Supply Median |
|
57% |
5% |
$140 |
$49 |
|
$111 |
$0.7 |
-$20 |
1.6 |
|
0.4 |
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| Company |
9/30/04 Close |
% of 52wk High |
% change from 9/26/03 |
Market Cap ($M) |
Liquidity, Pro forma ($M) |
ST< Debt ($M) |
Company Valuation ($M) |
Valuation/
Employee ($M) |
Burn Rate, annualized ($M) |
Survival Index (Yrs) |
IPO Date |
Cash/cash from IPO/share |
Price/Share At IPO |
IPO Post-Money Valuation ($M) |
| ARENA PHARMACEUTICALS |
$4.31 |
50% |
-41% |
$110 |
$149 |
$0 |
($39) |
-$0.1 |
-$68 |
2.2 |
Jul-00 |
0.2 |
$18.00 |
$394 |
| CELERA GENOMICS GROUP |
$11.69 |
65% |
6% |
$854 |
$749 |
$6 |
$111 |
$0.1 |
-$88 |
8.6 |
Feb-00 |
0.1 |
$225.00 |
na |
| CURAGEN CORP. |
$5.50 |
58% |
10% |
$275 |
$410 |
$240 |
$105 |
$0.3 |
-$113 |
3.6 |
Mar-98 |
1.0 |
$5.75 |
$143 |
| DECODE GENETICS |
$7.53 |
55% |
77% |
$411 |
$97 |
$62 |
$375 |
$0.9 |
-$53 |
1.8 |
Jul-00 |
0.4 |
$18.00 |
$818 |
| EXELIXIS |
$8.06 |
76% |
15% |
$582 |
$206 |
$108 |
$483 |
$0.8 |
-$117 |
1.8 |
Apr-00 |
0.6 |
$13.00 |
$520 |
| GENAISSANCE PHARMACEUTICALS |
$3.17 |
71% |
69% |
$98 |
$12 |
$11 |
$96 |
$0.9 |
-$31 |
0.4 |
Aug-00 |
0.2 |
$13.00 |
$288 |
| GENE LOGIC |
$3.72 |
58% |
-24% |
$118 |
$114 |
$1 |
$4 |
$0.0 |
-$18 |
6.5 |
Nov-97 |
0.5 |
$8.00 |
$109 |
| GENENCOR INTERNATIONAL |
$16.05 |
96% |
-1% |
$954 |
$177 |
$65 |
$842 |
$0.7 |
na |
na |
Jul-00 |
0.9 |
$18.00 |
$1,045 |
| ICORIA INC. |
$0.48 |
28% |
-64% |
$17 |
$16 |
$7 |
$9 |
$0.0 |
-$15 |
1.1 |
May-00 |
0.1 |
$7.00 |
$177 |
| LARGE SCALE BIOLOGY CORP. |
$0.96 |
33% |
-23% |
$30 |
$12 |
$0 |
$18 |
$0.2 |
-$16 |
0.7 |
Aug-00 |
0.1 |
$17.00 |
$388 |
| LEXICON GENETICS |
$6.59 |
80% |
26% |
$418 |
$149 |
$56 |
$325 |
$0.5 |
-$67 |
2.2 |
Apr-00 |
0.3 |
$22.00 |
$1,037 |
| LYNX THERAPEUTICS |
$2.42 |
32% |
-58% |
$18 |
$6 |
$0 |
$12 |
$0.1 |
-$14 |
0.4 |
na |
na |
na |
na |
| MAXYGEN |
$9.89 |
81% |
-7% |
$348 |
$129 |
$0 |
$220 |
$0.8 |
-$54 |
2.4 |
Dec-99 |
0.6 |
$16.00 |
$465 |
| NUVELO |
$9.88 |
60% |
14% |
$316 |
$103 |
$19 |
$232 |
$3.7 |
-$44 |
2.4 |
Sep-97 |
0.7 |
$14.00 |
$175 |
| RIGEL PHARMACEUTICALS |
$25.30 |
95% |
92% |
$462 |
$96 |
$3 |
$369 |
$2.9 |
-$49 |
2.0 |
Nov-00 |
3.6 |
$7.00 |
$230 |
| SANGAMO BIOSCIENCES |
$4.87 |
58% |
36% |
$123 |
$42 |
$0 |
$81 |
$1.4 |
-$13 |
3.2 |
Apr-00 |
0.3 |
$15.00 |
$312 |
| ZYMOGENETICS |
$17.44 |
90% |
16% |
$937 |
$290 |
$51 |
$698 |
$1.9 |
-$98 |
3.0 |
Feb-01 |
1.5 |
$12.00 |
$547 |
| Genomic Targets Average |
|
64% |
8% |
$357 |
$162 |
|
$232 |
$0.9 |
-$54 |
2.6 |
|
0.7 |
|
|
| Genomic Targets Median |
|
60% |
10% |
$316 |
$114 |
|
$111 |
$0.7 |
-$51 |
2.2 |
|
0.4 |
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| Company |
9/30/04 Close |
% of 52wk High |
% change from 9/26/03 |
Market Cap ($M) |
Liquidity, Pro forma ($M) |
ST< Debt ($M) |
Company Valuation ($M) |
Valuation/
Employee ($M) |
Burn Rate, annualized ($M) |
Survival Index (Yrs) |
IPO Date |
Cash/cash from IPO/share |
Price/Share At IPO |
IPO Post-Money Valuation ($M) |
| ALEXION PHARMACEUTICALS |
$18.00 |
69% |
9% |
$497 |
$227 |
$120 |
$390 |
$2.0 |
-$80 |
2.8 |
Feb-96 |
2.2 |
$8.25 |
$62 |
| ATHEROGENICS |
$32.95 |
79% |
100% |
$1,221 |
$117 |
$100 |
$1,204 |
$12.4 |
-$66 |
1.8 |
Aug-00 |
4.1 |
$8.00 |
$184 |
| CONNETICS CORP. |
$27.02 |
95% |
72% |
$959 |
$50 |
$90 |
$999 |
$4.6 |
na |
na |
Feb-96 |
2.5 |
$11.00 |
$81 |
| CORTECH |
$2.82 |
82% |
1% |
$10 |
$12 |
$0 |
($1) |
-$1.5 |
-$1 |
23.0 |
Nov-92 |
0.1 |
$40.00 |
$116 |
| CYPRESS BIOSCIENCE |
$11.67 |
69% |
40% |
$346 |
$126 |
$0 |
$220 |
$14.6 |
-$29 |
4.3 |
Dec-83 |
0.1 |
$80.00 |
$33 |
| ICOS CORP. |
$24.14 |
50% |
-36% |
$1,532 |
$377 |
$279 |
$1,434 |
$2.1 |
-$208 |
1.8 |
Jun-91 |
3.0 |
$8.00 |
$172 |
| INKINE PHARMACEUTICAL Company |
$5.08 |
76% |
31% |
$247 |
$11 |
$1 |
$238 |
$4.2 |
na |
na |
na |
na |
na |
na |
| LA JOLLA PHARMACEUTICAL Company |
$3.05 |
68% |
-28% |
$187 |
$55 |
$2 |
$134 |
$1.0 |
-$34 |
1.6 |
Jun-94 |
0.6 |
$5.00 |
$43 |
| PROTEIN DESIGN LABS |
$19.58 |
71% |
40% |
$1,862 |
$465 |
$259 |
$1,657 |
$3.0 |
-$50 |
9.3 |
Jan-92 |
2.6 |
$7.50 |
$191 |
| TANOX |
$16.87 |
81% |
-16% |
$742 |
$135 |
$5 |
$612 |
$5.2 |
-$16 |
8.2 |
Apr-00 |
0.6 |
$28.50 |
$1,193 |
| Autoimmune Average |
|
74% |
21% |
$760 |
$157 |
|
$689 |
$4.8 |
-$60 |
6.6 |
|
1.8 |
|
|
| Autoimmune Median |
|
74% |
20% |
$619 |
$122 |
|
$501 |
$3.6 |
-$42 |
3.6 |
|
2.2 |
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| Company |
9/30/04 Close |
% of 52wk High |
% change from 9/26/03 |
Market Cap ($M) |
Liquidity, Pro forma ($M) |
ST< Debt ($M) |
Company Valuation ($M) |
Valuation/
Employee ($M) |
Burn Rate, annualized ($M) |
Survival Index (Yrs) |
IPO Date |
Cash/cash from IPO/share |
Price/Share At IPO |
IPO Post-Money Valuation ($M) |
| ALLOS THERAPEUTICS |
$2.15 |
36% |
-27% |
$67 |
$42 |
$0 |
$25 |
$0.4 |
-$29 |
1.5 |
Mar-00 |
0.1 |
$18.00 |
$604 |
| ANTIGENICS |
$6.03 |
44% |
-51% |
$272 |
$138 |
$8 |
$142 |
$0.6 |
-$69 |
2.0 |
Feb-00 |
0.3 |
$18.00 |
$429 |
| APHTON CORP. |
$3.58 |
41% |
-34% |
$135 |
$63 |
$11 |
$83 |
$1.6 |
-$27 |
2.3 |
na |
na |
na |
na |
| ARIAD PHARMACEUTICALS |
$6.69 |
49% |
10% |
$351 |
$91 |
$8 |
$268 |
$5.2 |
-$37 |
2.5 |
May-94 |
0.8 |
$8.00 |
$124 |
| AVI BIOPHARMA |
$2.05 |
37% |
-61% |
$74 |
$37 |
$0 |
$37 |
$0.3 |
-$29 |
1.3 |
Jun-97 |
0.2 |
$9.00 |
$103 |
| BIOMIRA |
$1.44 |
59% |
-25% |
$104 |
$27 |
$0 |
$77 |
$0.5 |
-$15 |
1.8 |
Jun-87 |
0.3 |
$4.40 |
$43 |
| BOSTON LIFE SCIENCES |
$0.47 |
24% |
-72% |
$16 |
$10 |
$4 |
$10 |
$0.8 |
-$17 |
0.6 |
na |
na |
na |
na |
| CANCERVAX |
$8.10 |
61% |
na |
$217 |
$93 |
$4 |
$128 |
$0.8 |
-$51 |
1.8 |
Oct-03 |
0.7 |
$12.00 |
$308 |
| CELGENE CORP. |
$58.23 |
96% |
37% |
$4,776 |
$714 |
$400 |
$4,462 |
$6.6 |
na |
na |
Jul-87 |
15.9 |
$3.66 |
$55 |
| CELL THERAPEUTICS |
$6.86 |
55% |
-39% |
$347 |
$182 |
$192 |
$357 |
$1.0 |
-$150 |
1.2 |
Mar-97 |
0.7 |
$10.00 |
$166 |
| CORIXA CORP. |
$4.16 |
47% |
-50% |
$232 |
$133 |
$153 |
$252 |
$0.8 |
-$42 |
3.1 |
Oct-97 |
0.3 |
$13.00 |
$152 |
| CYTOGEN CORP. |
$10.54 |
63% |
-16% |
$163 |
$26 |
$0 |
$137 |
$2.3 |
-$18 |
1.5 |
Jun-86 |
0.8 |
$13.00 |
$148 |
| CYTOKINETICS |
$13.00 |
73% |
na |
$202 |
$28 |
$2 |
$176 |
$1.1 |
-$37 |
0.8 |
Apr-04 |
1.0 |
$13.00 |
$202 |
| DENDREON CORP. |
$8.41 |
50% |
-6% |
$491 |
$205 |
$3 |
$289 |
$2.0 |
-$63 |
3.3 |
Jun-00 |
0.8 |
$10.00 |
$210 |
| DUSA PHARMACEUTICALS |
$11.48 |
77% |
109% |
$194 |
$56 |
$2 |
$139 |
$2.8 |
-$17 |
3.4 |
Jan-92 |
1.9 |
$6.00 |
$30 |
| ENTREMED |
$1.73 |
29% |
-61% |
$64 |
$31 |
$0 |
$33 |
$0.8 |
-$18 |
1.7 |
Jun-96 |
0.1 |
$15.00 |
$182 |
| EXEGENICS |
$0.69 |
52% |
15% |
$11 |
$10 |
$0 |
$1 |
$0.1 |
-$2 |
4.7 |
na |
na |
na |
na |
| GENAERA CORP. |
$3.91 |
60% |
-18% |
$206 |
$30 |
$0 |
$176 |
$7.6 |
-$16 |
1.9 |
Dec-91 |
0.4 |
$9.00 |
$62 |
| GENITOPE |
$9.87 |
68% |
na |
$236 |
$83 |
$0 |
$152 |
$1.7 |
-$27 |
3.1 |
Oct-03 |
1.1 |
$9.00 |
$145 |
| GENTA |
$2.69 |
16% |
-79% |
$216 |
$69 |
$45 |
$193 |
$1.2 |
-$117 |
0.6 |
Dec-91 |
0.0 |
$100.00 |
$123 |
| GERON CORP. |
$5.99 |
36% |
-54% |
$272 |
$104 |
$5 |
$174 |
$3.3 |
-$36 |
2.9 |
Jul-96 |
0.7 |
$8.00 |
$77 |
| GTX |
$11.66 |
73% |
na |
$288 |
$82 |
$0 |
$206 |
$4.9 |
-$18 |
4.5 |
Feb-04 |
0.8 |
$14.50 |
$358 |
| ILEX ONCOLOGY |
$25.17 |
97% |
57% |
$984 |
$145 |
$39 |
$878 |
$4.1 |
-$63 |
2.3 |
Feb-97 |
2.1 |
$12.00 |
$143 |
| IMCLONE SYSTEMS |
$52.85 |
61% |
40% |
$4,357 |
$309 |
$240 |
$4,288 |
$10.1 |
na |
na |
Nov-91 |
7.6 |
$7.00 |
$107 |
| IMMUNOGEN |
$5.05 |
41% |
7% |
$206 |
$103 |
$0 |
$103 |
$0.9 |
na |
na |
Nov-89 |
0.5 |
$10.00 |
$60 |
| IMMUNOMEDICS |
$2.60 |
29% |
-64% |
$141 |
$22 |
$17 |
$135 |
$1.3 |
-$27 |
0.8 |
Oct-83 |
2.1 |
$1.25 |
$25 |
| MAXIM PHARMACEUTICALS |
$2.67 |
25% |
-60% |
$76 |
$73 |
$1 |
$5 |
$0.1 |
-$47 |
1.5 |
Jul-96 |
0.4 |
$7.50 |
$50 |
| MEDAREX |
$7.38 |
66% |
29% |
$585 |
$342 |
$289 |
$532 |
$1.3 |
-$174 |
2.0 |
Jun-91 |
2.5 |
$3.00 |
$31 |
| NEOPHARM |
$8.56 |
38% |
-44% |
$199 |
$103 |
$0 |
$96 |
$0.9 |
-$59 |
1.7 |
Jan-96 |
2.7 |
$3.18 |
$28 |
| NEORX CORP. |
$1.69 |
26% |
-66% |
$51 |
$32 |
$4 |
$23 |
$0.6 |
-$19 |
1.7 |
Aug-88 |
0.1 |
$28.00 |
$102 |
| OSI PHARMACEUTICALS |
$61.46 |
62% |
94% |
$2,664 |
$334 |
$310 |
$2,640 |
$5.5 |
-$199 |
1.7 |
Apr-86 |
10.2 |
$6.00 |
$53 |
| OXIGENE |
$6.11 |
51% |
-45% |
$102 |
$40 |
$0 |
$62 |
$5.7 |
-$11 |
3.5 |
Oct-93 |
1.0 |
$6.00 |
$28 |
| PHARMION |
$51.70 |
88% |
na |
$1,587 |
$301 |
$0 |
$1,285 |
$21.8 |
-$40 |
7.5 |
Nov-03 |
3.7 |
$14.00 |
$358 |
| PRAECIS PHARMACEUTICALS |
$2.20 |
28% |
-66% |
$115 |
$127 |
$32 |
$21 |
$0.1 |
-$59 |
2.1 |
Apr-00 |
0.2 |
$10.00 |
$400 |
| PROGENICS PHARMACEUTICALS |
$14.65 |
62% |
-16% |
$249 |
$47 |
$0 |
$202 |
$1.8 |
-$44 |
1.1 |
Nov-97 |
1.8 |
$8.00 |
$70 |
| QLT |
$16.65 |
54% |
5% |
$1,159 |
$537 |
$173 |
$794 |
$2.4 |
na |
na |
Sep-86 |
15.4 |
$1.08 |
$22 |
| SCICLONE PHARMACEUTICALS |
$3.56 |
40% |
-51% |
$159 |
$60 |
$6 |
$104 |
$1.0 |
-$12 |
5.2 |
Mar-92 |
0.5 |
$7.45 |
$63 |
| SEATTLE GENETICS |
$6.57 |
60% |
11% |
$274 |
$51 |
$0 |
$223 |
$2.1 |
-$144 |
0.4 |
Mar-01 |
0.9 |
$7.00 |
$207 |
| SPECTRUM PHARMACEUTICALS |
$6.24 |
62% |
-22% |
$89 |
$25 |
$0 |
$64 |
$4.0 |
-$9 |
2.8 |
na |
na |
na |
na |
| SUPERGEN |
$6.18 |
44% |
-16% |
$280 |
$47 |
$6 |
$239 |
$2.1 |
-$85 |
0.6 |
Mar-96 |
1.0 |
$6.00 |
$21 |
| TAPESTRY PHARMACEUTICALS |
$1.02 |
31% |
-37% |
$34 |
$48 |
$6 |
($8) |
-$0.1 |
-$26 |
1.9 |
Apr-94 |
0.2 |
$5.00 |
$41 |
| VERNALIS |
$3.08 |
64% |
21% |
$14 |
$67 |
$0 |
($53) |
-$0.6 |
-$52 |
1.3 |
May-96 |
0.4 |
$7.20 |
$178 |
| XCYTE THERAPIES |
$3.17 |
65% |
na |
$47 |
$41 |
$2 |
$8 |
$0.1 |
-$24 |
1.7 |
Mar-04 |
0.4 |
$8.00 |
$119 |
| XENOVA PLC |
$1.63 |
58% |
-22% |
$428 |
$26 |
$0 |
$402 |
$2.8 |
na |
na |
Jul-94 |
0.1 |
$16.00 |
$90 |
| Cancer Average |
|
52% |
-18% |
$517 |
$117 |
|
$445 |
$2.6 |
-$49 |
2.2 |
|
2.0 |
|
|
| Cancer Median |
|
53% |
-24% |
$206 |
$65 |
|
$140 |
$1.3 |
-$36 |
1.8 |
|
0.8 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Company |
9/30/04 Close |
% of 52wk High |
% change from 9/26/03 |
Market Cap ($M) |
Liquidity, Pro forma ($M) |
ST< Debt ($M) |
Company Valuation ($M) |
Valuation/
Employee ($M) |
Burn Rate, annualized ($M) |
Survival Index (Yrs) |
IPO Date |
Cash/cash from IPO/share |
Price/Share At IPO |
IPO Post-Money Valuation ($M) |
| CORGENTECH |
$17.07 |
78% |
na |
$473 |
$154 |
$1 |
$320 |
$4.4 |
-$35 |
4.4 |
Feb-04 |
1.1 |
$16.00 |
$444 |
| CV THERAPEUTICS |
$12.50 |
51% |
-43% |
$395 |
$446 |
$297 |
$245 |
$0.9 |
-$149 |
3.0 |
Nov-96 |
1.6 |
$8.00 |
$48 |
| ENCYSIVE PHARMACEUTICALS |
$9.03 |
77% |
52% |
$479 |
$106 |
$2 |
$374 |
$4.1 |
-$49 |
2.2 |
Dec-93 |
1.3 |
$6.75 |
$88 |
| MEDICINES Company |
$24.14 |
67% |
1% |
$1,155 |
$129 |
$0 |
$1,026 |
$5.4 |
na |
na |
Sep-00 |
1.5 |
$16.00 |
$506 |
| MYOGEN |
$8.10 |
42% |
na |
$215 |
$95 |
$3 |
$123 |
$2.2 |
-$53 |
1.8 |
Oct-03 |
0.6 |
$14.00 |
$358 |
| NITROMED |
$23.84 |
92% |
na |
$625 |
$91 |
$0 |
$534 |
$13.0 |
-$18 |
4.9 |
Nov-03 |
2.2 |
$11.00 |
$264 |
| QUESTCOR PHARMACEUTICALS |
$0.45 |
39% |
-50% |
$23 |
$7 |
$4 |
$19 |
$0.4 |
-$2 |
4.3 |
na |
na |
na |
na |
| Cardiovascular Average |
|
64% |
-10% |
$481 |
$147 |
|
$377 |
$4.3 |
-$51 |
3.4 |
|
1.4 |
|
|
| Cardiovascular Median |
|
67% |
-21% |
$473 |
$106 |
|
$320 |
$4.1 |
-$42 |
3.7 |
|
1.4 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Company |
9/30/04 Close |
% of 52wk High |
% change from 9/26/03 |
Market Cap ($M) |
Liquidity, Pro forma ($M) |
ST< Debt ($M) |
Company Valuation ($M) |
Valuation/
Employee ($M) |
Burn Rate, annualized ($M) |
Survival Index (Yrs) |
IPO Date |
Cash/cash from IPO/share |
Price/Share At IPO |
IPO Post-Money Valuation ($M) |
| ACCELRYS |
$6.52 |
28% |
-28% |
$159 |
$147 |
$0 |
$12 |
$0.0 |
-$25 |
5.9 |
Dec-95 |
0.4 |
$16.00 |
$158 |
| ALBANY MOLECULAR RESEARCH |
$9.60 |
55% |
-33% |
$305 |
$133 |
$58 |
$229 |
$0.3 |
-$83 |
1.6 |
Feb-99 |
1.0 |
$10.00 |
$280 |
| ARGONAUT TECHNOLOGIES |
$0.93 |
35% |
-31% |
$19 |
$12 |
$0 |
$8 |
$0.0 |
-$8 |
1.4 |
Jul-00 |
0.1 |
$15.00 |
$253 |
| ARQULE |
$4.62 |
58% |
10% |
$133 |
$61 |
$6 |
$78 |
$0.3 |
-$1 |
116.5 |
Oct-96 |
0.4 |
$12.00 |
$114 |
| ARRAY BIOPHARMA |
$6.99 |
59% |
24% |
$202 |
$38 |
$0 |
$164 |
$0.7 |
-$14 |
2.7 |
Nov-01 |
0.9 |
$7.50 |
$168 |
| BIOCRYST PHARMACEUTICALS |
$5.10 |
45% |
-20% |
$111 |
$29 |
$0 |
$81 |
$1.8 |
-$20 |
1.4 |
Mar-94 |
0.8 |
$6.50 |
$47 |
| DISCOVERY PARTNERS INTERNATIONAL |
$4.80 |
71% |
-15% |
$125 |
$74 |
$0 |
$51 |
$0.3 |
na |
na |
Jul-00 |
0.3 |
$18.00 |
$428 |
| KOSAN BIOSCIENCES |
$5.76 |
39% |
-25% |
$167 |
$76 |
$4 |
$96 |
$0.7 |
-$21 |
3.6 |
Oct-00 |
0.4 |
$14.00 |
$341 |
| SYMYX TECHNOLOGIES |
$23.55 |
78% |
10% |
$756 |
$146 |
$0 |
$610 |
$2.6 |
na |
na |
Nov-99 |
1.7 |
$14.00 |
$398 |
| VERTEX PHARMACEUTICALS |
$10.50 |
74% |
-14% |
$840 |
$526 |
$315 |
$629 |
$0.9 |
-$177 |
3.0 |
Jul-91 |
2.3 |
$4.50 |
$85 |
| Chemistry Average |
|
54% |
-12% |
$282 |
$124 |
|
$196 |
$0.8 |
-$44 |
17.0 |
|
0.8 |
|
|
| Chemistry Median |
|
57% |
-18% |
$163 |
$75 |
|
$89 |
$0.5 |
-$21 |
2.8 |
|
0.6 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Company |
9/30/04 Close |
% of 52wk High |
% change from 9/26/03 |
Market Cap ($M) |
Liquidity, Pro forma ($M) |
ST< Debt ($M) |
Company Valuation ($M) |
Valuation/
Employee ($M) |
Burn Rate, annualized ($M) |
Survival Index (Yrs) |
IPO Date |
Cash/cash from IPO/share |
Price/Share At IPO |
IPO Post-Money Valuation ($M) |
| ACADIA PHARMACEUTICALS |
$7.80 |
98% |
na |
$132 |
$57 |
$1 |
$75 |
$0.7 |
-$24 |
2.4 |
May-04 |
1.1 |
$7.00 |
$118 |
| ADOLOR CORP. |
$11.25 |
50% |
-38% |
$437 |
$197 |
$0 |
$241 |
$1.9 |
-$52 |
3.8 |
Nov-00 |
0.8 |
$15.00 |
$407 |
| CEPHALON |
$47.90 |
79% |
5% |
$2,715 |
$1,225 |
$1,412 |
$2,902 |
$1.8 |
-$27 |
45.0 |
Apr-91 |
2.7 |
$18.00 |
$155 |
| CORCEPT THERAPEUTICS |
$7.84 |
62% |
na |
$178 |
$12 |
$0 |
$166 |
$23.8 |
-$14 |
0.8 |
Apr-04 |
0.7 |
$12.00 |
$272 |
| DOV PHARMACEUTICAL |
$17.14 |
85% |
1% |
$365 |
$52 |
$15 |
$328 |
$9.1 |
-$34 |
1.5 |
Apr-02 |
1.3 |
$13.00 |
$188 |
| GUILFORD PHARMACEUTICALS |
$5.00 |
52% |
-17% |
$220 |
$107 |
$92 |
$205 |
$0.8 |
-$85 |
1.3 |
Jun-94 |
0.9 |
$5.33 |
$30 |
| INDEVUS PHARMACEUTICALS |
$7.09 |
69% |
31% |
$331 |
$62 |
$72 |
$341 |
$12.6 |
-$74 |
0.8 |
Mar-90 |
3.5 |
$2.00 |
$31 |
| MEMORY PHARMACEUTICALS |
$7.66 |
70% |
na |
$157 |
$24 |
$0 |
$133 |
$1.7 |
-$24 |
1.0 |
Apr-04 |
1.1 |
$7.00 |
$143 |
| NEUROBIOLOGICAL TECHNOLOGIES |
$3.50 |
50% |
-42% |
$92 |
$21 |
$0 |
$72 |
$6.5 |
-$4 |
5.1 |
Feb-94 |
0.4 |
$8.00 |
$30 |
| NEUROCRINE BIOSCIENCES |
$47.16 |
67% |
-6% |
$1,717 |
$377 |
$47 |
$1,387 |
$4.4 |
-$45 |
8.5 |
May-96 |
4.5 |
$10.50 |
$172 |
| NEW RIVER PHARMACEUTICALS |
$9.90 |
89% |
na |
$176 |
$35 |
$0 |
$141 |
$6.4 |
-$5 |
7.8 |
Aug-04 |
1.2 |
$8.00 |
$142 |
| NYMOX PHARMACEUTICAL CORP. |
$2.05 |
38% |
-16% |
$50 |
$1 |
$1 |
$50 |
$2.4 |
-$4 |
0.2 |
na |
na |
na |
na |
| PAIN THERAPEUTICS |
$7.19 |
73% |
19% |
$256 |
$71 |
$0 |
$185 |
$6.2 |
-$36 |
1.9 |
Jul-00 |
0.6 |
$12.00 |
$319 |
| PHARMOS CORP. |
$2.88 |
57% |
48% |
$254 |
$64 |
$16 |
$207 |
$3.9 |
-$21 |
3.0 |
Jul-83 |
0.1 |
$20.00 |
$16 |
| RENOVIS |
$8.01 |
46% |
na |
$197 |
$113 |
$3 |
$87 |
$1.2 |
-$39 |
2.9 |
Feb-04 |
0.7 |
$12.00 |
$295 |
| STEMCELLS |
$1.54 |
49% |
-18% |
$84 |
$10 |
$2 |
$75 |
$2.7 |
-$13 |
0.8 |
Mar-92 |
0.1 |
$11.00 |
$82 |
| TITAN PHARMACEUTICALS |
$2.38 |
40% |
-4% |
$76 |
$57 |
$0 |
$19 |
$0.3 |
-$22 |
2.6 |
Jan-96 |
0.5 |
$5.00 |
$66 |
| CNS Average |
|
63% |
-3% |
$437 |
$146 |
|
$389 |
$5.1 |
-$31 |
5.3 |
|
1.3 |
|
|
| CNS Median |
|
62% |
-5% |
$197 |
$57 |
|
$166 |
$2.7 |
-$24 |
2.4 |
|
0.8 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Company |
9/30/04 Close |
% of 52wk High |
% change from 9/26/03 |
Market Cap ($M) |
Liquidity, Pro forma ($M) |
ST< Debt ($M) |
Company Valuation ($M) |
Valuation/
Employee ($M) |
Burn Rate, annualized ($M) |
Survival Index (Yrs) |
IPO Date |
Cash/cash from IPO/share |
Price/Share At IPO |
IPO Post-Money Valuation ($M) |
| ABGENIX |
$9.86 |
51% |
-30% |
$876 |
$317 |
$249 |
$808 |
$2.0 |
-$242 |
1.3 |
Jul-98 |
4.9 |
$2.00 |
$86 |
| ACUSPHERE |
$6.26 |
39% |
na |
$108 |
$48 |
$0 |
$60 |
$1.0 |
-$30 |
1.6 |
Oct-03 |
0.4 |
$14.00 |
$200 |
| AEROGEN |
$2.20 |
42% |
-44% |
$11 |
$5 |
$0 |
$6 |
$0.1 |
-$35 |
0.1 |
Nov-00 |
0.2 |
$12.00 |
$233 |
| ALKERMES |
$11.54 |
67% |
-11% |
$1,039 |
$146 |
$127 |
$1,020 |
$2.3 |
-$145 |
1.0 |
Jul-91 |
2.3 |
$5.00 |
$70 |
| ANDRX CORP. |
$22.36 |
72% |
26% |
$1,628 |
$332 |
$12 |
$1,308 |
$0.6 |
na |
na |
Jun-96 |
7.5 |
$3.00 |
$155 |
| ARADIGM CORP. |
$1.28 |
44% |
-32% |
$81 |
$18 |
$0 |
$63 |
$0.3 |
-$30 |
0.6 |
Jun-96 |
0.1 |
$11.00 |
$114 |
| ATRIX LABORATORIES |
$30.69 |
88% |
50% |
$678 |
$106 |
$0 |
$573 |
$3.6 |
na |
na |
na |
na |
na |
na |
| BIODELIVERY SCIENCES INTERNATIONAL |
$2.77 |
60% |
-24% |
$19 |
$2 |
$1 |
$19 |
$1.0 |
-$5 |
0.3 |
na |
na |
na |
na |
| DEPOMED |
$5.22 |
58% |
-14% |
$181 |
$38 |
$10 |
$153 |
$2.1 |
-$30 |
1.3 |
Nov-97 |
0.9 |
$6.10 |
$33 |
| DOR BIOPHARMA |
$0.55 |
35% |
-36% |
$23 |
$6 |
$0 |
$17 |
$4.3 |
-$6 |
1.0 |
na |
na |
na |
na |
| DURECT CORP. |
$1.40 |
33% |
-60% |
$72 |
$59 |
$62 |
$75 |
$0.7 |
-$30 |
2.0 |
Sep-00 |
0.1 |
$12.00 |
$557 |
| EMISPHERE TECHNOLOGIES |
$3.07 |
35% |
-55% |
$57 |
$32 |
$40 |
$65 |
$0.5 |
-$35 |
0.9 |
Feb-89 |
0.6 |
$5.00 |
$15 |
| ENZON PHARMACEUTICALS |
$15.95 |
87% |
39% |
$698 |
$114 |
$400 |
$984 |
$3.1 |
-$29 |
3.9 |
Feb-84 |
10.6 |
$1.50 |
$12 |
| FLAMEL TECHNOLOGIES SA |
$14.67 |
38% |
-56% |
$315 |
$111 |
$2 |
$206 |
$1.4 |
-$4 |
31.8 |
na |
na |
na |
na |
| GENEREX BIOTECHNOLOGY CORP. |
$1.09 |
47% |
-40% |
$35 |
$8 |
$2 |
$28 |
$1.1 |
-$20 |
0.4 |
na |
na |
na |
na |
| GENETRONICS BIOMEDICAL CORP. |
$2.96 |
38% |
-29% |
$53 |
$13 |
$0 |
$40 |
$2.0 |
-$9 |
1.4 |
na |
na |
na |
na |
| KOS PHARMACEUTICALS |
$35.61 |
60% |
2% |
$1,337 |
$108 |
$30 |
$1,260 |
$1.4 |
na |
na |
Mar-97 |
2.4 |
$15.00 |
$233 |
| MACROCHEM CORP. |
$0.93 |
49% |
-1% |
$36 |
$12 |
$0 |
$24 |
$1.5 |
-$9 |
1.4 |
Feb-85 |
0.3 |
$3.00 |
$13 |
| MEDICIS PHARMACEUTICAL CORP. |
$39.04 |
86% |
-33% |
$2,253 |
$628 |
$471 |
$2,096 |
$6.7 |
na |
na |
na |
na |
na |
na |
| NASTECH PHARMACEUTICAL COMPANY |
$14.29 |
96% |
59% |
$191 |
$20 |
$11 |
$182 |
$2.2 |
-$30 |
0.7 |
na |
na |
na |
na |
| NEKTAR THERAPEUTICS |
$14.48 |
58% |
14% |
$1,214 |
$486 |
$215 |
$942 |
$1.4 |
-$88 |
5.5 |
May-94 |
3.9 |
$3.75 |
$65 |
| NOVAVAX |
$3.12 |
36% |
-57% |
$123 |
$23 |
$42 |
$142 |
$1.2 |
-$31 |
0.8 |
na |
na |
na |
na |
| NOVEN PHARMACEUTICALS |
$20.84 |
80% |
86% |
$488 |
$113 |
$0 |
$376 |
$1.2 |
na |
na |
May-88 |
37.9 |
$0.55 |
$5 |
| SEPRACOR |
$48.78 |
90% |
73% |
$4,273 |
$502 |
$1,192 |
$4,963 |
$5.0 |
-$324 |
1.6 |
Sep-91 |
9.8 |
$5.00 |
$168 |
| Delivery Average |
|
58% |
-8% |
$658 |
$135 |
|
$642 |
$2.0 |
-$60 |
3.0 |
|
5.5 |
|
|
| Delivery Median |
|
54% |
-24% |
$186 |
$54 |
|
$167 |
$1.4 |
-$30 |
1.3 |
|
2.3 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Company |
9/30/04 Close |
% of 52wk High |
% change from 9/26/03 |
Market Cap ($M) |
Liquidity, Pro forma ($M) |
ST< Debt ($M) |
Company Valuation ($M) |
Valuation/
Employee ($M) |
Burn Rate, annualized ($M) |
Survival Index (Yrs) |
IPO Date |
Cash/cash from IPO/share |
Price/Share At IPO |
IPO Post-Money Valuation ($M) |
| ADVANCED MAGNETICS |
$13.96 |
85% |
45% |
$110 |
$18 |
$0 |
$92 |
$4.2 |
-$3 |
5.7 |
na |
na |
na |
na |
| BIOSITE |
$48.96 |
96% |
78% |
$778 |
$75 |
$20 |
$723 |
$0.9 |
na |
na |
Feb-97 |
4.1 |
$12.00 |
$149 |
| CHOLESTECH CORP. |
$6.76 |
66% |
-15% |
$96 |
$18 |
$0 |
$79 |
$0.4 |
-$1 |
12.8 |
Jun-92 |
1.4 |
$5.00 |
$32 |
| DIAGNOSTIC PRODUCTS CORP. |
$40.87 |
79% |
15% |
$1,190 |
$77 |
$17 |
$1,130 |
$0.5 |
na |
na |
Jun-82 |
10.2 |
$4.00 |
$43 |
| DIGENE CORP. |
$25.96 |
54% |
-37% |
$516 |
$49 |
$3 |
$470 |
$1.6 |
na |
na |
May-96 |
2.3 |
$11.50 |
$128 |
| ENZO BIOCHEM |
$15.00 |
69% |
-22% |
$463 |
$80 |
$0 |
$383 |
$1.8 |
-$2 |
40.0 |
Jun-80 |
17.2 |
$0.87 |
$8 |
| EPIX PHARMACEUTICALS |
$19.31 |
73% |
23% |
$444 |
$76 |
$0 |
$368 |
$4.3 |
-$20 |
3.8 |
Feb-97 |
2.8 |
$7.00 |
$59 |
| EXACT SCIENCES CORP. |
$3.25 |
20% |
-75% |
$85 |
$67 |
$0 |
$18 |
$0.2 |
-$17 |
4.0 |
Jan-01 |
0.2 |
$14.00 |
$261 |
| GEN-PROBE |
$39.87 |
74% |
54% |
$1,978 |
$198 |
$0 |
$1,780 |
$2.4 |
na |
na |
Sep-87 |
5.7 |
$7.00 |
$103 |
| IDEXX LABORATORIES |
$50.74 |
74% |
18% |
$1,738 |
$230 |
$1 |
$1,510 |
$0.6 |
na |
na |
Jun-91 |
13.5 |
$3.75 |
$76 |
| IMMUCOR |
$24.75 |
98% |
94% |
$748 |
$13 |
$14 |
$749 |
$2.0 |
na |
na |
na |
na |
na |
na |
| IMMUNICON |
$10.00 |
94% |
na |
$230 |
$25 |
$7 |
$212 |
$2.1 |
-$29 |
0.8 |
Apr-04 |
1.3 |
$8.00 |
$184 |
| LUMINEX CORP. |
$7.13 |
53% |
13% |
$222 |
$38 |
$0 |
$184 |
$1.4 |
-$4 |
8.6 |
Mar-00 |
0.4 |
$17.00 |
$450 |
| MARTEK BIOSCIENCES CORP. |
$48.64 |
66% |
-6% |
$1,426 |
$60 |
$82 |
$1,448 |
$3.8 |
na |
na |
Nov-93 |
6.9 |
$7.00 |
$54 |
| MATRITECH |
$1.17 |
47% |
-41% |
$49 |
$12 |
$2 |
$40 |
$0.6 |
-$13 |
0.9 |
Jul-92 |
0.2 |
$5.00 |
$22 |
| MERIDIAN BIOSCIENCE |
$13.32 |
100% |
35% |
$198 |
$3 |
$22 |
$218 |
$0.9 |
na |
na |
na |
na |
na |
na |
| ORASURE TECHNOLOGIES |
$6.30 |
53% |
-34% |
$281 |
$65 |
$3 |
$219 |
$1.3 |
na |
na |
na |
na |
na |
na |
| QUIDEL CORP. |
$4.53 |
32% |
-29% |
$143 |
$40 |
$10 |
$113 |
$0.4 |
-$9 |
4.4 |
Aug-81 |
0.5 |
$10.00 |
$19 |
| SONUS PHARMACEUTICALS |
$3.71 |
42% |
-29% |
$79 |
$17 |
$0 |
$62 |
$1.5 |
-$15 |
1.1 |
Oct-95 |
0.5 |
$7.00 |
$60 |
| STRATAGENE |
$7.19 |
60% |
42% |
$158 |
$8 |
$0 |
$149 |
$1.0 |
na |
na |
na |
na |
na |
na |
| TRINITY BIOTECH PLC |
$2.99 |
44% |
-13% |
$137 |
$23 |
$22 |
$137 |
$0.2 |
na |
na |
na |
na |
na |
na |
| XENOGEN |
$6.20 |
76% |
na |
$92 |
$44 |
$0 |
$47 |
$0.3 |
-$21 |
2.1 |
Jul-04 |
0.9 |
$7.00 |
$103 |
| Diagnostic/imag. Average |
|
66% |
6% |
$507 |
$56 |
|
$460 |
$1.5 |
-$12 |
7.7 |
|
4.3 |
|
|
| Diagnostic/imag. Median |
|
68% |
4% |
$226 |
$42 |
|
$215 |
$1.1 |
-$13 |
4.0 |
|
1.8 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Company |
9/30/04 Close |
% of 52wk High |
% change from 9/26/03 |
Market Cap ($M) |
Liquidity, Pro forma ($M) |
ST< Debt ($M) |
Company Valuation ($M) |
Valuation/
Employee ($M) |
Burn Rate, annualized ($M) |
Survival Index (Yrs) |
IPO Date |
Cash/cash from IPO/share |
Price/Share At IPO |
IPO Post-Money Valuation ($M) |
| AASTROM BIOSCIENCES |
$0.93 |
53% |
-39% |
$77 |
$11 |
$0 |
$66 |
$1.5 |
-$11 |
1.0 |
Feb-97 |
0.1 |
$7.00 |
$88 |
| AVIGEN |
$3.72 |
47% |
-27% |
$76 |
$82 |
$9 |
$2 |
$0.0 |
-$18 |
4.6 |
May-96 |
0.5 |
$8.00 |
$58 |
| CELL GENESYS |
$8.97 |
55% |
-29% |
$401 |
$230 |
$148 |
$319 |
$1.2 |
-$104 |
2.2 |
Jan-93 |
0.8 |
$11.00 |
$120 |
| CORAUTUS GENETICS |
$5.40 |
70% |
-6% |
$73 |
$15 |
$4 |
$62 |
$2.1 |
-$9 |
1.7 |
na |
na |
na |
na |
| GENVEC |
$2.58 |
57% |
-9% |
$143 |
$25 |
$6 |
$124 |
$1.4 |
-$19 |
1.3 |
Dec-00 |
0.3 |
$9.50 |
$186 |
| INTROGEN THERAPEUTICS |
$6.28 |
61% |
-33% |
$167 |
$31 |
$7 |
$143 |
$2.0 |
-$22 |
1.4 |
Oct-00 |
0.8 |
$8.00 |
$167 |
| SIRNA THERAPEUTICS |
$3.05 |
37% |
-47% |
$115 |
$30 |
$3 |
$88 |
$1.2 |
-$25 |
1.2 |
Apr-96 |
0.3 |
$10.00 |
$59 |
| TARGETED GENETICS CORP. |
$1.37 |
42% |
-46% |
$112 |
$42 |
$12 |
$83 |
$0.9 |
-$18 |
2.3 |
May-94 |
0.2 |
$6.00 |
$54 |
| TRANSGENE SA |
$2.31 |
53% |
-14% |
$70 |
$45 |
$3 |
$28 |
$0.2 |
na |
na |
Mar-98 |
0.1 |
$43.50 |
$212 |
| TRANSKARYOTIC THERAPIES |
$17.73 |
94% |
61% |
$616 |
$171 |
$0 |
$445 |
$1.4 |
-$81 |
2.1 |
Oct-96 |
1.2 |
$15.00 |
$234 |
| VALENTIS |
$2.66 |
26% |
na |
$35 |
$6 |
$0 |
$29 |
$1.5 |
-$15 |
0.4 |
Sep-97 |
0.2 |
$12.00 |
$161 |
| VICAL |
$4.80 |
59% |
-20% |
$113 |
$94 |
$12 |
$30 |
$0.2 |
-$21 |
4.4 |
Mar-93 |
1.0 |
$5.00 |
$52 |
| Gene therapy Average |
|
54% |
-19% |
$166 |
$65 |
|
$118 |
$1.1 |
-$31 |
2.1 |
|
0.5 |
|
|
| Gene therapy Median |
|
54% |
-27% |
$112 |
$36 |
|
$74 |
$1.3 |
-$19 |
1.7 |
|
0.3 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Company |
9/30/04 Close |
% of 52wk High |
% change from 9/26/03 |
Market Cap ($M) |
Liquidity, Pro forma ($M) |
ST< Debt ($M) |
Company Valuation ($M) |
Valuation/
Employee ($M) |
Burn Rate, annualized ($M) |
Survival Index (Yrs) |
IPO Date |
Cash/cash from IPO/share |
Price/Share At IPO |
IPO Post-Money Valuation ($M) |
| ADVANCIS |
$8.36 |
81% |
na |
$191 |
$58 |
$3 |
$136 |
$1.7 |
-$34 |
1.7 |
Oct-03 |
0.8 |
$10.00 |
$224 |
| ANADYS PHARMACEUTICALS |
$5.30 |
61% |
na |
$118 |
$52 |
$2 |
$68 |
$0.8 |
-$44 |
1.2 |
Mar-04 |
0.8 |
$7.00 |
$156 |
| AVANT IMMUNOTHERAPEUTICS |
$1.71 |
44% |
-29% |
$127 |
$41 |
$0 |
$86 |
$1.5 |
-$16 |
2.6 |
May-86 |
0.4 |
$4.00 |
$38 |
| CUBIST PHARMACEUTICALS |
$9.88 |
61% |
-2% |
$398 |
$87 |
$197 |
$508 |
$1.8 |
-$72 |
1.2 |
Oct-96 |
1.6 |
$6.00 |
$55 |
| DYNAVAX TECHNOLOGIES |
$7.64 |
49% |
na |
$240 |
$80 |
$0 |
$160 |
$3.6 |
-$12 |
6.9 |
Feb-04 |
1.0 |
$7.50 |
$236 |
| EPIMMUNE |
$1.34 |
45% |
-53% |
$21 |
$6 |
$0 |
$16 |
$0.4 |
-$3 |
1.6 |
Nov-91 |
0.0 |
$91.00 |
$167 |
| GENELABS TECHNOLOGIES |
$2.61 |
80% |
56% |
$230 |
$27 |
$0 |
$203 |
$2.7 |
-$12 |
2.4 |
Jun-91 |
0.3 |
$9.13 |
$160 |
| IDENIX PHARMACEUTICALS |
$16.00 |
94% |
na |
$766 |
$113 |
$0 |
$654 |
$4.6 |
na |
na |
Jul-04 |
1.1 |
$14.00 |
$684 |
| IMMUNE RESPONSE CORP. |
$1.20 |
40% |
-42% |
$58 |
$9 |
$4 |
$54 |
$1.1 |
-$20 |
0.4 |
May-90 |
0.0 |
$28.00 |
$77 |
| INHIBITEX |
$6.76 |
87% |
na |
$124 |
$58 |
$2 |
$68 |
$1.1 |
-$58 |
1.0 |
Jun-04 |
1.0 |
$7.00 |
$128 |
| INTERMUNE |
$11.79 |
48% |
-37% |
$383 |
$315 |
$267 |
$335 |
$1.3 |
-$52 |
6.0 |
Mar-00 |
0.6 |
$20.00 |
$433 |
| INTRABIOTICS PHARMACEUTICALS - |
$4.00 |
21% |
-65% |
$35 |
$62 |
$0 |
($27) |
-$2.7 |
-$21 |
3.0 |
Apr-00 |
0.3 |
$15.00 |
$419 |
| MEDIMMUNE |
$23.70 |
68% |
-26% |
$5,907 |
$634 |
$507 |
$5,780 |
$3.5 |
-$292 |
2.2 |
May-91 |
15.4 |
$1.54 |
$114 |
| NABI BIOPHARMACEUTICALS |
$13.38 |
75% |
63% |
$780 |
$126 |
$24 |
$678 |
$1.0 |
-$70 |
1.8 |
na |
na |
na |
na |
| SIGA TECHNOLOGIES |
$1.32 |
44% |
-33% |
$31 |
$0 |
$0 |
$31 |
$1.8 |
-$8 |
0.0 |
Sep-97 |
0.3 |
$5.00 |
$32 |
| TRIMERIS |
$15.05 |
53% |
-40% |
$328 |
$81 |
$0 |
$248 |
$2.5 |
-$65 |
1.2 |
Oct-97 |
1.3 |
$12.00 |
$120 |
| VAXGEN |
$13.35 |
74% |
20% |
$335 |
$34 |
$0 |
$301 |
$2.6 |
-$37 |
0.9 |
Jul-99 |
1.0 |
$13.00 |
$146 |
| VICURON PHARMACEUTICALS |
$14.68 |
60% |
-13% |
$804 |
$149 |
$9 |
$664 |
$17.9 |
-$96 |
1.6 |
Sep-00 |
1.3 |
$11.00 |
$249 |
| VION PHARMACEUTICALS |
$4.21 |
77% |
158% |
$233 |
$52 |
$0 |
$182 |
$6.3 |
-$15 |
3.5 |
Aug-95 |
1.1 |
$4.00 |
$32 |
| VIROLOGIC |
$2.00 |
45% |
45% |
$107 |
$11 |
$0 |
$97 |
$0.5 |
-$6 |
1.8 |
May-00 |
0.3 |
$7.00 |
$137 |
| VIROPHARMA |
$1.93 |
52% |
-30% |
$51 |
$111 |
$128 |
$69 |
$0.8 |
-$22 |
5.1 |
Nov-96 |
0.3 |
$7.00 |
$65 |
| XOMA LTD |
$2.32 |
28% |
-68% |
$198 |
$80 |
$56 |
$175 |
$0.8 |
-$84 |
1.0 |
Jun-86 |
0.1 |
$16.00 |
$140 |
| Infection Average |
|
58% |
-6% |
$521 |
$99 |
|
$477 |
$2.5 |
-$49 |
2.2 |
|
1.4 |
|
|
| Infection Median |
|
56% |
-29% |
$214 |
$60 |
|
$167 |
$1.6 |
-$34 |
1.7 |
|
0.8 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Company |
9/30/04 Close |
% of 52wk High |
% change from 9/26/03 |
Market Cap ($M) |
Liquidity, Pro forma ($M) |
ST< Debt ($M) |
Company Valuation ($M) |
Valuation/
Employee ($M) |
Burn Rate, annualized ($M) |
Survival Index (Yrs) |
IPO Date |
Cash/cash from IPO/share |
Price/Share At IPO |
IPO Post-Money Valuation ($M) |
| AMYLIN PHARMACEUTICALS |
$20.52 |
68% |
-24% |
$1,930 |
$227 |
$177 |
$1,880 |
$8.4 |
-$158 |
1.4 |
Jan-92 |
1.5 |
$14.00 |
$240 |
| BIOMARIN PHARMACEUTICAL |
$5.19 |
59% |
-30% |
$334 |
$208 |
$125 |
$251 |
$0.9 |
-$222 |
0.9 |
Aug-99 |
0.4 |
$13.00 |
$449 |
| INSMED |
$1.68 |
39% |
-40% |
$65 |
$25 |
$0 |
$39 |
$2.0 |
-$36 |
0.7 |
na |
na |
na |
na |
| KERYX BIOPHARMACEUTICALS |
$11.19 |
56% |
235% |
$343 |
$51 |
$0 |
$292 |
$12.2 |
na |
na |
Jul-00 |
1.1 |
$10.00 |
$194 |
| MANNKIND |
$20.04 |
82% |
na |
$656 |
$124 |
$0 |
$531 |
$2.4 |
-$73 |
1.7 |
Jul-04 |
1.4 |
$14.00 |
$446 |
| METABASIS THERAPEUTICS |
$5.82 |
82% |
na |
$106 |
$57 |
$0 |
$49 |
$0.6 |
-$15 |
3.9 |
Jun-04 |
0.8 |
$7.00 |
$127 |
| NPS PHARMACEUTICALS |
$21.78 |
59% |
-20% |
$842 |
$266 |
$192 |
$768 |
$2.8 |
-$166 |
1.6 |
May-94 |
4.0 |
$5.50 |
$40 |
| SAVIENT PHARMACEUTICALS |
$2.30 |
36% |
-53% |
$139 |
$33 |
$11 |
$117 |
$0.3 |
-$128 |
0.3 |
Sep-83 |
0.2 |
$13.00 |
$68 |
| TERCICA |
$9.00 |
75% |
na |
$221 |
$74 |
$0 |
$147 |
$3.6 |
-$46 |
1.6 |
Mar-04 |
1.0 |
$9.00 |
$221 |
| VIVUS |
$4.50 |
60% |
36% |
$171 |
$40 |
$0 |
$132 |
$1.1 |
-$20 |
2.0 |
Apr-94 |
0.6 |
$7.00 |
$164 |
| ZONAGEN |
$3.62 |
61% |
107% |
$18 |
$9 |
$0 |
$10 |
$2.4 |
-$3 |
3.0 |
Mar-93 |
0.7 |
$5.50 |
$19 |
| Metabolic Average |
|
62% |
26% |
$439 |
$101 |
|
$383 |
$3.3 |
-$86 |
1.7 |
|
1.2 |
|
|
| Metabolic Median |
|
60% |
-22% |
$221 |
$57 |
|
$147 |
$2.4 |
-$59 |
1.6 |
|
0.9 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Company |
9/30/04 Close |
% of 52wk High |
% change from 9/26/03 |
Market Cap ($M) |
Liquidity, Pro forma ($M) |
ST< Debt ($M) |
Company Valuation ($M) |
Valuation/
Employee ($M) |
Burn Rate, annualized ($M) |
Survival Index (Yrs) |
IPO Date |
Cash/cash from IPO/share |
Price/Share At IPO |
IPO Post-Money Valuation ($M) |
| ALNYLAM PHARMACEUTICALS |
$5.76 |
61% |
na |
$111 |
$56 |
$2 |
$57 |
$0.9 |
-$31 |
1.8 |
May-04 |
1.0 |
$6.00 |
$116 |
| AUXILIUM PHARMACEUTICALS |
$8.53 |
85% |
na |
$176 |
$62 |
$0 |
$114 |
$0.8 |
-$32 |
1.9 |
Jul-04 |
1.1 |
$7.50 |
$160 |
| BARRIER THERAPEUTICS |
$12.16 |
77% |
na |
$265 |
$47 |
$0 |
$219 |
$5.3 |
-$40 |
1.2 |
Apr-04 |
0.8 |
$15.00 |
$327 |
| CRITICAL THERAPEUTICS |
$4.16 |
46% |
na |
$232 |
$62 |
$1 |
$171 |
$1.7 |
-$32 |
1.9 |
May-04 |
0.6 |
$7.00 |
$390 |
| EYETECH PHARMACEUTICALS |
$33.99 |
69% |
na |
$1,395 |
$270 |
$2 |
$1,126 |
$7.1 |
-$124 |
2.2 |
Jan-04 |
1.6 |
$21.00 |
$862 |
| MOMENTA PHARMACEUTICALS |
$8.23 |
87% |
na |
$209 |
$71 |
$0 |
$138 |
$3.8 |
-$16 |
4.6 |
Jun-04 |
1.3 |
$6.50 |
$165 |
| SANTARUS |
$9.07 |
57% |
na |
$265 |
$93 |
$1 |
$173 |
$2.5 |
-$68 |
1.4 |
Mar-04 |
1.0 |
$9.00 |
$263 |
| Other Average |
|
69% |
|
$379 |
$94 |
|
$285 |
$3.2 |
-$49 |
2.1 |
|
1.1 |
|
|
| Other Median |
|
69% |
|
$232 |
$62 |
|
$171 |
$2.5 |
-$32 |
1.9 |
|
1.0 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Company |
9/30/04 Close |
% of 52wk High |
% change from 9/26/03 |
Market Cap ($M) |
Liquidity, Pro forma ($M) |
ST< Debt ($M) |
Company Valuation ($M) |
Valuation/
Employee ($M) |
Burn Rate, annualized ($M) |
Survival Index (Yrs) |
IPO Date |
Cash/cash from IPO/share |
Price/Share At IPO |
IPO Post-Money Valuation ($M) |
| AMGEN |
$56.81 |
84% |
-13% |
$71,922 |
$5,003 |
$3,087 |
$70,006 |
$5.4 |
na |
na |
Jun-83 |
162.3 |
$0.35 |
$175 |
| BIOGEN IDEC |
$61.17 |
96% |
79% |
$20,699 |
$948 |
$861 |
$20,612 |
$5.5 |
na |
na |
Sep-91 |
24.5 |
$2.50 |
$131 |
| CHIRON CORP. |
$44.20 |
77% |
-14% |
$8,297 |
$698 |
$1,088 |
$8,687 |
$1.6 |
na |
na |
Aug-83 |
14.7 |
$3.00 |
$98 |
| GENENTECH |
$52.42 |
77% |
30% |
$55,267 |
$1,815 |
$1,340 |
$54,792 |
$8.8 |
na |
na |
Oct-80 |
36.2 |
$1.45 |
$246 |
| GENZYME CORP. |
$54.41 |
94% |
18% |
$12,405 |
$1,004 |
$1,423 |
$12,825 |
$2.3 |
na |
na |
Jun-86 |
21.8 |
$2.50 |
$70 |
| GILEAD SCIENCES |
$37.38 |
100% |
35% |
$16,095 |
$1,036 |
$345 |
$15,404 |
$10.8 |
na |
na |
Jan-92 |
10.0 |
$3.75 |
$210 |
| Revenue-driven Average |
|
88% |
23% |
$30,781 |
$1,751 |
|
$30,388 |
$5.7 |
na |
na |
|
44.9 |
|
|
| Revenue-driven Median |
|
89% |
24% |
$18,397 |
$1,020 |
|
$18,008 |
$5.5 |
na |
na |
|
23.1 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Company |
9/30/04 Close |
% of 52wk High |
% change from 9/26/03 |
Market Cap ($M) |
Liquidity, Pro forma ($M) |
ST< Debt ($M) |
Company Valuation ($M) |
Valuation/
Employee ($M) |
Burn Rate, annualized ($M) |
Survival Index (Yrs) |
IPO Date |
Cash/cash from IPO/share |
Price/Share At IPO |
IPO Post-Money Valuation ($M) |
| DIVERSA CORP. |
$8.35 |
68% |
9% |
$363 |
$120 |
$20 |
$263 |
$0.7 |
-$32 |
3.7 |
Feb-00 |
0.3 |
$24.00 |
$840 |
| DYAX CORP. |
$7.64 |
49% |
43% |
$240 |
$436 |
$10 |
($186) |
-$1.7 |
-$33 |
13.3 |
Aug-00 |
0.5 |
$15.00 |
$295 |
| ISIS PHARMACEUTICALS |
$4.90 |
49% |
-24% |
$281 |
$189 |
$230 |
$322 |
$0.7 |
-$105 |
1.8 |
May-91 |
0.5 |
$10.00 |
$104 |
| LIGAND PHARMACEUTICALS |
$10.02 |
40% |
-17% |
$741 |
$90 |
$174 |
$824 |
$1.8 |
-$57 |
1.6 |
Nov-92 |
1.2 |
$8.27 |
$131 |
| NEUROGEN CORP. |
$6.46 |
54% |
4% |
$221 |
$69 |
$14 |
$167 |
$1.1 |
-$17 |
4.1 |
Oct-89 |
1.1 |
$6.00 |
$35 |
| ONYX PHARMACEUTICALS |
$43.01 |
72% |
115% |
$1,501 |
$250 |
$0 |
$1,251 |
$78.2 |
-$52 |
4.8 |
May-96 |
3.6 |
$12.00 |
$105 |
| REGENERON PHARMACEUTICALS |
$8.68 |
46% |
-51% |
$483 |
$323 |
$200 |
$360 |
$5.6 |
-$58 |
5.6 |
Apr-91 |
0.4 |
$22.00 |
$330 |
| SENOMYX |
$9.00 |
90% |
na |
$227 |
$51 |
$0 |
$176 |
$2.4 |
-$14 |
3.7 |
Jun-04 |
1.5 |
$6.00 |
$151 |
| Screening Average |
|
59% |
12% |
$507 |
$191 |
|
$397 |
$11.1 |
-$46 |
4.8 |
|
1.1 |
|
|
| Screening Median |
|
52% |
4% |
$322 |
$154 |
|
$292 |
$1.4 |
-$43 |
3.9 |
|
0.8 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Company |
9/30/04 Close |
% of 52wk High |
% change from 9/26/03 |
Market Cap ($M) |
Liquidity, Pro forma ($M) |
ST< Debt ($M) |
Company Valuation ($M) |
Valuation/
Employee ($M) |
Burn Rate, annualized ($M) |
Survival Index (Yrs) |
IPO Date |
Cash/cash from IPO/share |
Price/Share At IPO |
IPO Post-Money Valuation ($M) |
| CARRINGTON LABORATORIES |
$3.69 |
67% |
-10% |
$39 |
$3 |
$4 |
$41 |
$0.2 |
-$0 |
17.4 |
na |
na |
na |
na |
| CELLEGY PHARMACEUTICALS |
$4.29 |
62% |
48% |
$100 |
$9 |
$0 |
$91 |
$4.6 |
-$11 |
0.8 |
Aug-95 |
0.7 |
$6.25 |
$24 |
| CURATIVE HEALTH SERVICES |
$6.87 |
37% |
-60% |
$89 |
$6 |
$0 |
$83 |
$0.2 |
-$13 |
0.5 |
Jun-91 |
0.9 |
$7.50 |
$74 |
| LIFECELL CORP. |
$10.00 |
87% |
56% |
$284 |
$19 |
$0 |
$266 |
$1.5 |
na |
na |
Feb-92 |
1.3 |
$7.75 |
$27 |
| LIFECORE BIOMEDICAL |
$7.00 |
84% |
4% |
$91 |
$8 |
$0 |
$82 |
$0.4 |
na |
na |
na |
na |
na |
na |
| Wound Average |
|
67% |
8% |
$121 |
$9 |
|
$113 |
$1.4 |
-$8 |
6.2 |
|
1.0 |
|
|
| Wound Median |
|
67% |
4% |
$91 |
$8 |
|
$83 |
$0.4 |
-$11 |
0.8 |
|
0.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Grand Average |
|
61% |
-2% |
$1,257 |
$162 |
|
$1,182 |
$2.7 |
-$49 |
3.8 |
|
3.1 |
|
|
| Grand Median |
|
60% |
-9% |
$232 |
$69 |
|
$176 |
$1.4 |
-$32 |
2.0 |
|
0.9 |
|
|
originally published 10/08/2004 |