Navigation Links
At-the-Market Offerings (ATM) of Life Sciences Companies Perform Well in Weak Follow-on Financing Environment of Third Quarter
Date:12/13/2011

NEW YORK, Dec. 13, 2011 /PRNewswire/ -- Brinson Patrick Securities Corporation, a boutique investment bank specializing in at-the-market (ATM) offerings, announced today that life sciences companies in the U.S. raised $25 million through activity of nine ATM offerings of common stock in the third quarter of this year.

While the data represent a 60 percent decrease in the use of ATMs in the life sciences sector compared to the second quarter of 2011, this reduction in gross proceeds is less than the 77 percent decline observed with more traditional follow-on financing vehicles such as registered direct, secondary and private investment in public equity (PIPE) offerings.  In addition, four new ATMs were activated in the third quarter, combining for a total of 15 new ATMs through the third quarter.

"The third quarter was a challenging fundraising period across the board for life sciences companies regardless of the fundraising vehicle employed," said Todd Wyche, founder and managing director of Brinson Patrick. "The driver for reduced ATM activity was a weak biotechnology equity market, in which the AMEX Biotechnology Index declined 26 percent during the third quarter.  However, ATMs preformed relatively well compared to conventional follow-on financings because they enable companies to remain in control of their financing activities and raise capital as needed.  We view this as further evidence of the flexibility and value of ATMs as a financing vehicle that should be included in all CFOs' toolboxes."

Life science companies that utilized ATMs to raise capital in the third quarter included AEterna Zentaris Inc., Quebec City, Quebec; OXiGENE Inc., South San Francisco; Apricus Biosciences, Inc., San Diego; and XOMA Ltd., Berkeley, Calif.

An ATM offering provides an efficient means of raising equity capital over time by enabling a publicly traded company to tap into the existing secondary market for its shares on an as-
'/>"/>

SOURCE Brinson Patrick Securities Corporation
Copyright©2010 PR Newswire.
All rights reserved

Page: 1 2 3

Related biology technology :

1. Contour Products Introduces Groundbreaking Sleep Apnea, Respiratory and Ergonomic Body Comfort Pillows at Medtrade; Self-Explanatory Products Serve Customer Needs, Expand Retailers DME Offerings
2. Simbionix Increases Product Offerings for OB/GYN Physicians
3. Cephalon Prices 5 Million Shares of Common Stock and $435 Million in 2.50% Convertible Senior Subordinated Notes in Public Offerings
4. Onyx Pharmaceuticals Announces Pricing of Concurrent Offerings of Four Million Shares of Common Stock and $200 Million Principal Amount of Convertible Senior Notes
5. Model N Extends its Industry-Leading Contract Management Offerings with Contract Authoring Capabilities
6. Global Trends Drive Opportunities for Tailored Offerings, Market Partnerships and Sustainable Growth
7. Dehaier Medical Systems Extends Product Offerings with Exclusive Distribution Agreement for Penlon Anesthesia System in North China
8. CoreLab Partners Launches New DXA Imaging Service Offerings
9. Transgenomic, Inc. Enhances FAMILION® Genetic Test Offerings
10. Centrify Secures $16M in Financing to Expand Distribution and Extend Its On-Premise and Cloud Security Offerings
11. McKesson Corporation Unveils New Offerings to Empower the Community Patient Care Delivery System
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/29/2015)... May 29, 2015 Results from a ... laherparepvec and its ability to reduce the size of ... been published in the Journal of Clinical Oncology. ... stages IIIB, IIIC and IV melanoma, a potentially fatal ... study was to evaluate the safety and efficacy of ...
(Date:5/29/2015)... May 29, 2015 Seoul Semiconductor ... in LED technology, on May 28th announced that ... share by strengthening its high efficient and high ... , Since 2011 Seoul Semiconductor has developed efficient ... market and has supplied LEDs for headlamps to ...
(Date:5/29/2015)... May 29, 2015 Translation is frequently listed ... for a good reason--if used in a way that is ... offering of a business product or service offering. , ... have a positive effect on a company's bottom line: , ... anyone in the world can use, why not offer it ...
(Date:5/28/2015)... , May 28, 2015 ... has announced the addition of Jain PharmaBiotech,s ... Markets and Companies"  to their offering.  ... disease remains a challenge in management. With ... in the seven major markets of the ...
Breaking Biology Technology:Study Published in Journal of Clinical Oncology Reports Talimogene Laherparepvec Improvesdurable Responses in Patients with Advanced Melanoma 2Seoul Semiconductor Increases the Global Automotive LED Market Share with its High Efficient and Reliable LEDs for Automotive Lightings 2Three Ways Translation Can Help Businesses Grow 2Global Alzheimer Disease Report 2015-2024 - New Drugs, Markets and Companies 2Global Alzheimer Disease Report 2015-2024 - New Drugs, Markets and Companies 3
... . -- Criticare Systems, Inc. on Monday announced a 20.3 ... the first full quarter of production and shipment of its ... ,In reporting its year-end numbers, the company said fourth-quarter net ... higher than the $6,667,617 for the same period of fiscal ...
... Welcome to the event. Here extreme manufacturing meets extreme consumption. ... surplus raw materials. The remaining nations pray and hope that ... love. The trade imbalances are way out of synch; envy ... the two odd nations. , ,Somewhere out there is ...
... care technologies developed in the Midwest, results of a ... the middle tier for its reputation among health care ... their primary offices in the Midwest, and three-fourths of ... one Midwest health care deal; 65 percent said they ...
Cached Biology Technology:The world's largest factory 2The world's largest factory 3The world's largest factory 4Midwest health care technology luring greater investment focus 2Midwest health care technology luring greater investment focus 3
(Date:5/28/2015)... , May 28, 2015 Industry ... of a new report titled "Markets for Self-Healing ... polymers, inorganic capsule and vascular systems, biomaterials, relevant ... grow to around $2.7 billion by 2020. ... n-tech,s extensive coverage of smart materials. Other recent n-tech ...
(Date:5/27/2015)... 2015   Codonics (codonics.com), a ... image documentation solutions and Omnicell  (omnicell.com), ... solutions, is pleased to announce their state ... Label System® (SLS), an award-winning FDA class ... Omnicell Anesthesia Workstation, helps prevent medication errors, ...
(Date:5/26/2015)... 2015 Research and Markets ... the "Saudi Arabia Biometric Systems Market Forecast ... ,     (Logo: http://photos.prnewswire.com/prnh/20130307/600769) , ,The biometric systems market ... projected to grow at over 22% CAGR through ... to the surging demand for better biometric technologies ...
Breaking Biology News(10 mins):The Market for Self-Healing Materials to Reach $2.7 Billion by 2020 Says New n-tech Research Study 2The Market for Self-Healing Materials to Reach $2.7 Billion by 2020 Says New n-tech Research Study 3Codonics and Omnicell Expand Partnership 2Codonics and Omnicell Expand Partnership 3Codonics and Omnicell Expand Partnership 4Saudi Arabia Biometric Systems Market Forecast and Opportunities, 2020 with Morpho Safran, ZK Technlogy, and Suprema Dominating 2
... microbes living on floating pieces of plastic marine debris ... pose to invertebrates, humans and other animals. New research ... unexplored world of the "Plastisphere" an ecological community ... first discovered last year. When scientists initially ...
... Hundreds of insect scientists and entomology students will be ... the Southeastern Branch of the Entomological Society of America ... the Embassy Suites Greenville Golf & Conference Center, March ... student poster and paper competitions, social events, an awards ...
... eggs, soup and rubber toys, the list of the ... such as self-organizing colloids, or optics that can transmit ... flexibility of a liquid. The unusual arrangement of ... biological occurrence of a potentially new state of matter ...
Cached Biology News:AGU: Uncovering the secret world of the Plastisphere 2Southern insect scientists meeting in Greenville, S.C. 2In the eye of a chicken, a new state of matter comes into view 2In the eye of a chicken, a new state of matter comes into view 3In the eye of a chicken, a new state of matter comes into view 4In the eye of a chicken, a new state of matter comes into view 5
... The ProLink Express is the first fully ... delivery and transfer operations with complete data ... initial bacterial colony picking through final protein ... is capable of delivering a plate to ...
... for life science applications on the GENESIS ... instruments including the Te-MO multichannel pipettor. ... simple graphical configuration of the system and ... scripting language the most flexible and complex ...
Transfection Buffer A & B Set 5 ml each...
...
Biology Products: