| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies |
| CuraGen Corporation |
| 555 Long Wharf Drive, 11th Floor, New Haven, CT 06511 * (203) 401-3330 |
| The company is pioneering the systematic application of genomics to accelerate the discovery and development of therapeutic and agricultural products. |
| Manager | Tier | Phone |
| Morgan Stanley Dean Witter Discover & Co. | Lead Manager | (212) 761-5900 |
| Bear, Stearns & Co. Inc. | Co-manager | (212) 272-4850 |
| Lehman Brothers Incorporated | Co-manager | (212) 526-8100 |
| NASNTL: | CRGN | Service: | SIC 8731 | |
| Type of Shares: | Common Shares | Filing Date: | 10/16/97 | |
| U.S. Shares: | 3,000,000 | Offer Date: | 3/17/98 | |
| Non-U.S. Shares: | 0 | Filing Range: | $10.00 - $12.00 | |
| Primary Shares: | 3,000,000 | Offer Price: | $11.50 | |
| Secondary Shares: | 0 | Gross Spread: | $0.81 | |
| Offering Amount: | $33,000,000 | Selling: | $0.45 | |
| Expenses: | $1,100,000 | Reallowance: | $0.10 | |
| Post-IPO Shares: | 12,600,000 | |||
| Employees: | 150 |
| Issuer's Law Firm: | Mintz, Levin, Cohn, Ferris, Glovsky And Popeo |
| Bank's Law Firm: | Ropes & Gray |
| Registrar/Transfer Agent: | American Stock Transfer & Trust Co |
Dollar amounts in U.S. millions except for per share data | |||||
| 6 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 6/30/97 | 6/30/96 | 6/30/97 | ||
| Revenue: | $4.42 | $2.88 | $1.43 | Assets: | $26.40 |
| Net Income: | -$0.40 | -$1.65 | -$0.19 | Curr Assets: | $22.67 |
| EPS: | Liabilities: | $5.65 | |||
| Prior EPS: | -$0.91 | -$0.14 | Curr Liab: | $2.53 | |
| Cash Flow/Oper: | $0.01 | $20.10 | $0.19 | Equity: | $20.75 |
| Cash Flow/Fin: | $3.52 | -$1.22 | -$0.01 | Cash: | $21.27 |
| Cash Flow/Inv: | -$0.25 | Working Cap: | $20.14 | ||
| Competition |
| The Company faces, and will continue to face, intense competition from pharmaceutical, biotechnology and diagnostic companies, as well as academic and research institutions and government agencies. The Company is subject to significant competition from organizations that are pursuing technologies and products that are the same as or similar to the Company's technology and products. Many of the organizations competing with the Company have greater capital resources, research and development staffs and facilities and marketing capabilities than the Company. In addition, research in the field of genomics generally is highly competitive. Competitors of the Company in the genomics area include, among others, public companies such as Affymetrix, Inc., Human Genome Sciences, Inc., Incyte Pharmaceuticals, Inc. and Millennium Pharmaceuticals, Inc., as well as privatecompanies and major pharmaceutical companies. Universities and other research institutions, including those receiving funding from the federally funded Human Genome Project, also compete with the Company. The Company's future success will depend in large part on its maintaining a competitive position in the genomics field. Rapid technological development by the Company or others may result in products or technologies becoming obsolete before the Company recovers the expenses it incurs in connection with their development. Products offered by the Company could be made obsolete by less expensive or more effective technologies. There can be no assurance that the Company will be able to make the enhancements to its technology necessary to compete successfully with newly emerging technologies.A number of competitors are attempting to identify and patent genes and gene fragments sequenced at random, typically without specific knowledge of the function of such genes or gene fragments. The Company's competitors may discover, characterize or develop important genes or gene fragments in advance of the Company, which could have a material adverse effect on any related disease research program of the Company. The Company expects competition to intensify in genomics research as technical advances are made and become more widely known. |
| Business Plan |
| The company's goal is to establish the first fully-integrated genomics business providing comprehensive characterization of gene expression, biological pathways and potential drugs for drug discovery and development. The Company believes that its integrated approach can be the preferred alternative to competitive methods employed today. The key elements of the Company's strategy are as follows: (I) Provide fully-integrated innovative technologies to overcome limitations in drug discovery and development, (ii) Apply its technology for drug discovery, drug development and pharmacogenomics systematically to major disease, (iii) Generate revenue through research collaborations, (iv) Generate revenue throught database subscriptions and (v) Retain product rights to select internal research and drug discovery programs. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for research and development including the further development of its GeneCalling, PathCalling and HitCalling databases, for capital expenditures, to redeem all of the Series B Preferred Stock and general corporate purposes and working capital. |
| Name of Shareholder | % Owned Before | % Owned After |
| Jonathan M. Rothberg, Ph.D. | 40.50% | |
| Quantum Industrial Partners, LDC | 22.20% | |
| Pioneer Hi-Bred International, Inc. | 11.30% | |
| Lillian R. Rothberg | 10.30% | |
| Henry M. Rothberg | 10.30% | |
| Michael J. Rothberg | 5.90% |
| Officer Name | Title | Age |
| Jonathan M. Rothberg, Ph.D. | Chief Executive Officer, President and Chairman of the Board | 34 |
| Elizabeth A. Whayland, C.P.A. | Director of Financial Management and Secretary | 37 |
| Gregory T. Went, Ph.D. | Executive Vice President and Director | 34 |
| David M. Wurzer, C.P.A. | Executive Vice President, Treasurer and Chief Financial Officer | 39 |
| Peter A. Fuller, Ph.D. | Vice President, Business Development | 42 |