Rick,
You still tuned to this one? For some reason, IPOlockup.com doesn't have info on it, so I had to track it down myself via 10kWizard. From their last S-1/A:
>>
- 29,400,819 shares will be eligible for sale upon the expiration of the
lock-up agreements, described below, beginning 180 days after the date of
this prospectus; and
- 1,881,258 shares will be eligible for sale upon the exercise of vested
options 180 days after the date of this prospectus.<<
The date of filing was November 22nd, 2000. Expiration a month and a half away, and this little puppy is making new lows already. Following is a breakout of ownership and capitalization . . .
>>After completion of the public offering
and the concurrent private placement to Novartis, we will have 35,850,818
outstanding shares of common stock, which assumes no exercise of outstanding
options or warrants after September 30, 2000 and no exercise of the
underwriters' over-allotment option.<<
The over-allotment option was exercised, to the tune of 650,000 shares, bumping the outstanding to 36,500,818 shares.
Significant owners (gleaned from S-1/A and Form 3s) . . .
Lombard, Odier, & Cie own ~6.25 million shares
Frazier Healthcare II owns ~4.332 million shares
Novartis has ~3.5 million shares
Pfizer has 1 million shares
Johnson&Johnson development (Janssen) has 2,166,666 shares
The pharmas got in partly via convertible preferred, that converted to common 1:1. That cost 'em as little as $2.00/share in some cases.
Anyhow, institutions own 8.6%, insiders 86.1% according to the latest data I can find.
Of course, by the time I got around to looking at this, Rigel had bounced 50% plus off its lows on no news at all.
Fun, indeed. What do you make of all this? I see it uses proteomics, which you mentioned recently. It seems to have an interesting target validation technology. See "Proteomics" and "Our Solution" in the S-1/A.
10kwizard.com
Cheers, Tuck |
