I. COMMENCED TRADING IN MARCH

Company (Symbol)#

Date Filed

Date Comm.

Shares/Units (M)

Price

Shares Out (M)@

Lead, Other Underwriters

Gross (US$M)

Post-Offering Market Cap (M)%

INITIAL OFFERINGS

There were no initial public offerings that commenced in March.

Total: $0M

Number of IPOs in March: 0

Average value of March IPOs: $0M

Number of IPOs in 20 11: 6

Total raised in IPOs in 20 11: $308.5M

Average value of IPOs in 20 11: $51.42M

Company (Symbol)#

Date Filed

Date Comm.

Shares/Units (M)

Price

Shares Out (M)@

Lead, Other Underwriters

Gross (US$M)

Post-Offering Market Cap (M)%

FOLLOW-ON OFFERINGS

Affymax Inc. (Palo Alto, Calif.; AFFY)1

4/22 2010

3/18

8.47S

$5.90

33.9

Lazard Capital Markets
Stifel Nicolaus Weisel

$49.97

$200.01

Catalyst Pharmaceuticals Partners Inc. (Coral Gables, Fla.; CPRX)

12/15

3/8

2.3S

$1.12

21 .65

Roth Capital Partners

$2.53

$24.25

Exelixis Inc. (South San Francisco; EXEL)2

5/8
2009

3/10

17.25S

$11

126.6

Goldman, Sachs & Co.
Cowen and Co. (co-lead)
Citibank
Lazard Capital Markets

$189.75

$1.39B

Gilead Sciences Inc. (Foster City, Calif.; GILD)3

3/23

3/24

Notes

N/A

N/A

BofA Merrill Lynch
J.P. Morgan (co-lead)
Morgan Stanley (co-lead)
Barclays Capital
Credit Suisse
Deutsche Bank Sec.
Leerink Swann

$1B

N/A

MediciNova Inc. (San Diego; MNOV)4

12/16

2009

3/24

2.75U

$3

15.18

Ladenburg, Thalmann & Co.

$8.25

$45.54

OPKO Health Inc. (Miami; OPKO)5

2/11

3/10

29.4S

$3.75

284.8

Jefferies
J.P. Morgan (co-lead)
UBS Investment (co-lead)
Lazard Capital (co-lead)
Ladenburg, Thalmann

$110.25

$1.07B

Protalix BioTherapeutics Inc. (Carmiel, Israel; NYSE:PLX)

1/13

3/18

4S

$5.50

85.25

Citibank
Barclays Capital (co-lead)

$22

$468.88

RXi Pharmaceuticals Corp. (Worcester, Mass.; RXII)

5/21

3/1

6U

$1.35

24.4

Lazard Capital Markets
Roth Capital Partners

$8.1

$32.94

Stem Cell Therapeutics Corp. (Calgary, Alberta; TSX:SSS)

3/1

3/22

18.18U

C$0.11

N/A

Euro Pacific Canada Inc.
Bloom Burton & Co.

C$2 ($2.03)

N/A

Threshold Pharmaceuticals Inc. (Redwood City, Calif.; THLD)6

10/15

2010

3/11

14.3U

$2.10

48.8

Cowen & Co.
JMP Securities (co-lead)
William Blair & Co.

$30

$102.48

Total: $1,422.88M

Number of follow-on offerings in March: 10

Average value of March follow-ons: $142.3M

Number of follow-on offerings in 20 11: 30

Total raised in follow-ons in 20 11: $2,848.695M

Average value of follow-ons in 20 11: $94.96M

Notes:

# Unless otherwise indicated, shares are traded on the Nasdaq exchange.

@ This column reflects the shares outstanding following the offering, when disclosed.

% Market capitalization is calculated based on the offering price.

Currency conversions are based on exchange rates at the time of the deal.

1 Affymax's overallotment option: 1.27M shares.

2 Includes Exelixis' overallotment option: 2.25M shares.

3 Gilead Science's offering is of senior unsecured notes with an annual interest rate of 4.5 percent. They will mature on April 1, 2021.

4 MediciNova's overallotment option: 412,500 shares.

5 Includes OPKO's overallotment option: 2.4M shares.

6 Threshold's units consist of 14.3M shares of common stock and warrants to purchase an additional 5.7M shares.

II. FILED AND PENDING

Company (Symbol)#

Date Filed

Shares/ Units (M)

Price

Shares Out (M)@

Lead, Other Underwriters (M)@

Gross (US$M)

INITIAL OFFERINGS

Aldagen Inc. (ALDH)

10/29/09

Units

N/A

N/A

Boenning & Scattergood
Ladenburg Thalmann (co-lead)
National Securities Corp.

$46

Ambit Biosciences Corp. (AMBT)

11/5/10

N/A

N/A

N/A

J.P. Morgan
Credit Suisse (co-lead)
Leerink Swann
Wedbush PacGrow Life Sci.

$86.25

BioLineRx Ltd. (BLRX)

9/24/10

N/A

N/A

N/A

JMP Securities

Oppenheimer & Co.

$40.25

Clarus Therapeutics Inc. (Northbrook, Ill.; CLRS)

11/19/10 (Postponed 2/16)

5S

$11-$13

18.1

Piper Jaffray
Wells Fargo (Co-lead)
Lazard Capital Markets
Needham & Co.

$60

Cutanea Life Sciences Inc. (CTNA)1

11/5/10

2.3S

$6.50

3.9

Brean Murray, Carret & Co.
Rodman & Renshaw LLC (co-lead)

$14.95

Horizon Pharma Inc. (HZNP)

8/3/10

N/A

N/A

N/A

Jefferies & Co.
Piper Jaffray (co-lead)
JMP Securities
Lazard Capital Markets

$86.25

Insys Therapeutics Inc. (Phoenix; INRX)

3/30/11

N/A

N/A

N/A

Wells Fargo Securities
JMP Securities
Oppenheimer & Co.

$55

Med BioGene Inc.2 (Canada; MGBI)

12/28/09

N/A

N/A

N/A

Rodman & Renshaw LLC

$24

NewLink Genetics Corp. (NLNK)

12/21/10

N/A

N/A

N/A

Wells Fargo
Cowen & Co. (co-lead)
Robert W. Baird
Canaccord Genuity
Needham & Co. LLC

$86.25

Prometheus RxDx Corp. (RXDX)

12/19/07

N/A

N/A

N/A

Goldman Sachs & Co.
Credit Suisse (co-lead)
SunTrust Robinson Humphrey
Cowen & Co.
WedBush PacGrow Life Sci.

$151.3

Quark Pharmaceuticals Inc. (TASE)

9/28/10

N/A

N/A

N/A

N/A

$20

Sagent Pharmaceuticals Inc. (SGNT)

12/7/10

N/A

N/A

N/A

Morgan Stanley
BofA Merrill Lynch (co-lead)
Jefferies & Co. (co-lead)
Needham & Co.
RBC Capital Markets

$100

Supernus Pharmaceuticals Inc. (SUPN)

12/23/10

N/A

N/A

N/A

Citibank
Barclays Capital (co-lead)
Cowen and Co.
Stifel Nicolaus Weisel

$100

Tranzyme Pharma Inc. (TZYM)3

11/19/10

13.5S

$4

23.7

Citigroup Global Markets
BMO Capital Markets
Canaccord Genuity
Stifel Nicolaus Weisel

$54

Notes:

# Unless otherwise indicated, shares are traded on the Nasdaq exchange.

General shelf registration statements are not included until action is taken on the filing.

* Stock symbols for companies seeking to complete IPOs are proposed.

@ This column reflects the shares outstanding following the offering, when disclosed.

N/A = Not available, applicable or reported.

The value of all offerings is based on either the midpoint of the price range listed in the company's SEC filing or the most recent closing stock price before the offering was announced. In some cases, the company has not disclosed the number of shares to be offered or a price range. Then, the value is the maximum aggregate offering price listed in the SEC filing.

1 Cutanea's overallotment option: 345,000 shares.

2 Med BioGene is already listed on the Canadian Venture Exchange, ticker symbol "MBI."

3 Tranzyme priced its IPO on April 1 to offer 13.5M shares at $4 each. The completed IPO will be listed next month in the April financings chart. Overallotment option: 1.48M shares.