Went public 4/7/2000 at $28.5 apiece
Filing Range:7 mil. shares @ $27 to $30
Shares Outstanding:41.47 mil. shares
Underwriters:CIBC World Markets
Robertson Stephens/Warburg Dillon Read/Adams,
Harkness &Hill/KBC Securities
(Data in $ millions)
Total Revenue $2.42 $1.41
Net Loss -10.17- 23.35
Tanox identifies and develops therapeutic monoclonal antibodies to address medical needs in the areas of immunology, infectious disease and cancer. E25, the company’s most advanced product in development, is an anti-immunoglobulin E, or anti-IgE, antibody being developed in collaboration with Novartis Pharma AG and Genentech, Inc. E25 has successfully completed Phase III clinical trials in both allergic asthma and seasonal allergic rhinitis (hay fever). Based on the results of these trials, a biologics license application, or BLA, is expected to be filed with the Food and Drug Administration concurrent with a European registration in mid-2000 for both indications. In addition, Tanox is developing a number of monoclonal antibodies to treat other allergic diseases or conditions, such as severe allergic reactions to peanuts, autoimmune diseases, HIV and to restore the immune systems of chemotherapy patients with neutropenia.
Net proceeds will be used for research and development, capital expenditures and general corporate purposes, including working capital.
Novartis AG, Alafi Capital Co., Apex Enterprises Inc.
Tse Wen Chang