IPO price and initial funding of company, taken from 10-K currently available at biz.yahoo.com
Liquidity and Capital Resources
Sources of Liquidity
Since our inception, we have financed our operations primarily through the issuance of equity securities, capital equipment financing and payments from BMS pursuant to our recent collaboration. Through December 31, 2003, we had received net proceeds of $113.3 million from the issuance of shares of common stock and preferred stock, $1.4 million from capital equipment financing and $25.0 million from BMS. At December 31, 2003, we had $54.6 million in cash, cash equivalents and short-term investments and had $638,000 of restricted cash pledged as collateral for letters of credit for our leased facilities. In February 2004, we issued 6,900,000 shares of common stock at $16.00 per share upon the closing of our initial public offering in which we raised approximately $100.8 million, net of underwriting discounts and commissions and estimated expenses. |
