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Biotech / Medical : Biotech Lock Up Expiration Hell Portfolio: Wave II -- Ignore unavailable to you. Want to Upgrade?

To: Madharry who wrote (27)	6/25/2004 12:22:12 AM
From: tuck	Respond to of 107

Didn't take too long for the first secondary: >>SAN DIEGO--(BUSINESS WIRE)--June 24, 2004--Santarus, Inc. (Nasdaq:SNTS - News) today announced that the company has filed a registration statement for a follow-on offering of 6,000,000 shares of its common stock. All of the shares will be offered by Santarus. Santarus also expects to grant the underwriters a 30-day option to purchase an additional 900,000 shares to cover over-allotments, if any. SG Cowen & Co., LLC and UBS Investment Bank will act as joint book-running managers, and Thomas Weisel Partners LLC and RBC Capital Markets will act as co-managers of the offering. The offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to the offering may be obtained from SG Cowen & Co., LLC at 1221 Avenue of the Americas, 6th Floor, New York, NY 10020 or from UBS Investment Bank at 299 Park Avenue, New York, NY 10171 or through ADP by fax at (631) 254-7268. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. << snip Re: SNMX. I know nothing. I've heard the name, I know they're in my town, end of story. Sorry. Cheers, Tuck

To: Madharry who wrote (27)	6/25/2004 3:27:02 AM
From: tuck	Read Replies (2) \| Respond to of 107

SNMX, the taste receptor company, I remember now. The discovery process is as long as for drugs, but the regulatory process is much shorter. Still, they only have two candidates headed for the regulatory hurdles soon, and their partner is only likely to select one. S-1: sec.gov Vertex (via Aurora) and Incyte apparently have a stake, as they were holding some convertible preferred. Senior management hasn't been with the company for long because it's only five years old. IP early -- pending applications, none granted -- and thus murky. Almost alone in their niche except for a private outfit called Linguagen, though it's possible the big flavorings companies have similar programs (I doubt it). But I agree, I'm not going to run out and buy this one right away. Cheers, Tuck