Sep 252012
 

As we’ve said before, and throughout our website, for publicly traded life sciences companies, having at-the-market financing in the toolkit just makes sense. ATMs deliver control over the timing and amount of stock that reaches the market, giving life sciences organizations the flexibility to fund a clinical trial, make leveraged investments, ride the waves of an industry-specific event, and anything else that benefits from access to measured amounts of equity capital over time.

Here’s another benefit: ATM offerings provide the lowest cost of capital, too.

Life Science banking deals

Calculations

  • Deal timeframe: 1/1/2012 – 9/25/2012
  • Filter by issuer market cap: $30 million – $7 billion
  • Warrants cost calculated using Black Scholes European option pricing model
  • Market discount determined by calculating the percent change from the deal price and the stock price one day prior to deal announcement

Sep 142012
 

BioCentury NewsMakers Biotech Industry ConferenceMembers of our investment banking team – Todd Wyche, Kevin Tyler and Rada Milenovici attended the BioCentury NewsMakers Conference in New York earlier this month. Also in attendance were members of our research team – Vernon Bernardino and Michael Higgins.

The conference featured companies with major product and earnings events that are expected to play key roles in the life sciences industry. And in the words of conference organizers, it’s “…the best opportunity — in a single day — for the investment and pharma business development communities to assess the prospects for biotech stocks and to compare notes with key members of the institutional investment and analyst communities and pharma business development executives.” We’re always pleased to take part.

If you were not able to connect with us at the conference, please reach out to us now.

Sep 132012
 

Even as the real estate watchers continue to monitor signs of industry recovery, tech companies with large real estate assets are increasingly turning to a REIT structure to reduce their tax burden. It’s good news for investors too, as REITs are required to distribute a minimum of 90% of profits as dividends.

Recent news that data center operator Equinix (clients include Salesforce), converted to a REIT structure, continued the trend. And Reuters reports that Google and Facebook are looking at REIT status for 2015.

Sep 102012
 

We’re not clairvoyant, but we’re also not surprised that life science ATM financing slowed in the second quarter. There was a tremendous increase in all forms of follow-on offerings, including ATMs, in the first quarter of 2012, that went hand-in-hand with the stock market’s overall strong performance.

A summer slowdown doesn’t predict a trend to us: despite the decrease in capital raised, life science ATM sign-ups hit a quarterly record, and 50 life sciences companies now have ATMs available to raise capital when needed.

The growth trend is still in place, and some first-hand conversations we’ve had at recent life sciences events have us convinced that these firms are starting to recognize the benefits that ATMs bring to their financial toolkits.

Sep 062012
 
Michael Higgins, Managing Director, Brinson Patrick
Michael Higgins
Vernon Bernardino, Brinson Patrick
Vernon Bernardino

At the beginning of the year, Brinson Patrick quietly launched an equity research department to better serve its life sciences clients. They knew us, trusted us, and knew we knew their business inside and out, and adding the department made sense as an additional service to our DOCS® ATM financing vehicle.

It began as a team of one, with Michael Higgins, former managing director and senior specialty pharmaceuticals analyst with Rodman & Renshaw, LLC. Now it’s a powerhouse team of two, with the addition of senior analyst Vernon Bernardino, an 11-year veteran of biotech and pharmaceutical financial coverage.

We welcome Vernon, and look forward to leveraging our increased expertise to help clients develop successful financing strategies.