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Biotech / Medical : Targacept (TRGT)

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From: mopgcw9/28/2006 11:07:04 AM
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interesting, at the IPO, original investors were in @ ~ $9.78/share assuming all options exercised so the IPO was well less than current basis.

I despise the 3-class board nonsense; but they have it;

Major holders at the offering:

New Enterprise Associates 15.3 %
EuclidSR Partners, L.P. 9.9 %
Nomura Phase4 Ventures Limited 11.2 %
Oxford Bioscience Partners 4.7 %
R.J. Reynolds 5.8 %
Burrill & Company LLC 4.1 %
Advent Private Equity Fund II 3.7 %

Insiders:

Donald deBethizy, 1.9%
M. James Barrett, 15.3%
Charles A. Blixt 5.8%
Ann F. Hanham 4.1%
Elaine V. Jones 9.9%

Looks like New Enterprise dumped about half their position; euclid is out altogether; Wellington took in a decent stake and BVF & millenium joined for a small amount.

Deferred license fee revenut of 10.5mm which seems odd on the sheets;

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