Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Biotechnology Value Fund, L.P. -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (3542)	7/13/2003 6:01:31 PM
From: scaram(o)uche	Read Replies (2) \| Respond to of 4974

from last week's BioCentury (thanks, RS!), regarding financing events that helped to push open the last two big IPO "windows"........ '95-'96 window A 12/21/94 — Creative BioMolecules raises $11.2M (units) B 4/5/95 — BioChem Pharma raises $21.5M (PIPE) C 4/17/95 — Anergen raises $15M (follow-on) D 4/21/95 — Alliance (ALLP) raises $15.9M (follow-on) E 4/28/95 — The Liposome Co. raises $27M (follow-on) F 5/15/95 — Amylin (AMLN) raises $10.3M (PIPE) G 7/14/95 — Targeted Genetics (TGEN) raises $11.7M (follow-on) H 7/18/95 — Organogenesis raises $15.2M (units) I 8/1/95 — Cephalon (CEPH) raises $67.5M (follow-on) — deal opens window J 9/29/95 — DepoTech raises $36M (IPO) in first significant U.S. IPO after window opens K 10/6/95 — Myriad Genetics raises $46.8M (IPO) '99-'00 window A 12/9/98 — Elan (ELN) raises $750M (convert) B 12/10/98 — Sepracor (SEPR) raises $300M (convert) C 12/15/98 — Triangle raises $48M (PIPE) D 12/17/98 — Anesta raises $59.5M (follow-on) E 2/10/99 — Idec (IDPH) raises $115M (convert) F 3/4/99 — Abgenix (ABGX) raises $48.1M (follow-on) G 3/24/99 — ChiRex raises $54.6M (follow-on) H 3/31/99 — Cerus (CERS) raises $46.2M (follow-on) I 4/30/99 — QLT (TSE:QLT; QLTI) raises $138M (follow-on) J 5/20/99 — Immunex raises $450M (convert) K 6/22/99 — Human Genome (HGSI) raises $125M (convert) L 8/13/99 — Cephalon (CEPH) raises $125M (convert) M 9/13/99 — Guilford (GLFD) raises $45M (PIPE) N 9/16/99 — Affymetrix (AFFX) raises $125M (convert) O 10/6/99 — CV Therapeutics (CVTX) raises $69M (follow-on) — deal opens window P 11/17/99 — Symyx (SMMX) raises $89.2M in first U.S. IPO after window opens recent deals A 3/14/03 — Inspire (ISPH) raises $77.6M (follow-on) B 3/14/03 — Medicines Co. (MDCO) raises $98M (follow-on) C 4/30/03 — Rigel (RIGL) raises $46M (PIPE) D 5/15/03 — ID Biomedical (TSE:IDB; IDBE) raises $25.5M (follow-on) E 5/29/03 — Celgene (CELG) raises $400M (convert) F 6/6/03 — Cerus (CERS) raises $54.3M (follow-on) G 6/6/03 — Cephalon (CEPH) raises $750M (convert) H 6/10/03 — Corixa (CRXA) raises $30.4M (PIPE), $100M (convert) I 6/12/03 — NPS (NPSP) raises $170M (convert) J 6/13/03 — Dendreon (DNDN) raises $30.7M (PIPE) K 6/16/03 — Icos (ICOS) raises $250M (convert) L 6/18/03 — Amylin (AMLN) raises $150M (convert) M 6/20/03 — Exelixis (EXEL) raises $71M (follow-on) N 6/25/03 — Nektar (NKTR) raises $100M (convert)

To: scaram(o)uche who wrote (3542)	7/15/2003 5:40:03 PM
From: Biomaven	Respond to of 4974

If true, what constraints are put on the NUMBER of shares that a convert holder can short? I believe a convert holder is allowed to "naked" short as many shares as they have an option to buy. (Even if the option is way out-of-the-money and never going to be exercised in practice). Of course I suppose a very sleazy short might show the same evidence that they held the convert to multiple brokers, so perhaps multiplying how many shares they can short. Or maybe these hedge funds produce such good brokerage business that their broker just takes their word for it how many shares they could cover by converting. Peter