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| Dyax Corp. |
| One Kendall Square, Cambridge, MA 02139 * (617) 225-2500 |
| Business Description | The Company is a biopharmaceutical company that has developed and patented phage display technology with broad applications in the discovery and development of new therapeutic, separations, diagnostic and industrial enzyme products. |
| Offering Information Company has | |||
| Trading As | DYAX (NASNTL) | Industry | Service (SIC 8731) |
| Type of Stock Offered | Common Shares | Filing Date | 5/19/00 |
| Domestic Shares Offered | 4,000,000 | Offer Date | 8/14/00 |
| Foreign Shares Offered | 0 | Filing Range | $13.00 - $15.00 |
| Company Shares | 4,000,000 | Offer Price | $15.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.050 |
| Gross Proceeds | $60,000,000 | Selling | $0.630 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 18,090,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| J.P. Morgan & Co. | Lead Manager | (212) 648-0517 |
| Lehman Brothers Incorporated | Co-manager | (212) 526-8100 |
| Pacific Growth Equities | Co-manager | (415) 274-6800 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 3 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/97 | 12/31/98 | 12/31/99 | 3/31/99 | 3/31/00 | ||
| Revenues | - | - | 9.330 | 14.131 | 16.833 | 3.665 | 4.807 |
| Income from Oper. | - | - | -6.088 | -7.553 | -14.308 | -3.124 | -4.649 |
| Net Income | - | - | -5.823 | -7.152 | -13.187 | -2.863 | -4.491 |
| E.P.S | - | - | -3.950 | -4.220 | -6.810 | -1.650 | -1.970 |
| Revenue Growth (%) | - | - | 51.46 | 19.121 | 31.16 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -7.87 | -3.29 | 1.25 | ||||
| Cash Flow - Inv. | -1.76 | -0.42 | -0.40 | ||||
| Cash Flow - Fin. | 0.94 | 0.39 | 0.43 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 3/31/00 | Financial Ratios | ||||
| Total Assets | 30.85 | Current Assets | 24.32 | Current Ratio | 2.95 |
| Total Liab. | 15.25 | Current Liab. | 8.24 | Debt Ratio | 49.44% |
| Total Equity | 15.59 | Working Cap. | 16.07 | Debt to Equity Ratio | 0.98 |
| Cash | 18.16 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to fund research and development, possible acquisitions of technology and complementary businesses working capital, capital expenditures and other general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Palmer & Dodge |
| Bank's Law Firm | Debevoise & Plimpton |
| Registrar/Transfer Agent | Boston Equiserve Limited Partnership |
| Auditor | Pricewaterhouse Coopers LLC |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| HealthCare Ventures V, L.P. | 11.70 | |
| Alta Partners, entities affiliated with | 9.80 | |
| Loeb Investment Partnerships | 6.40 | |
| New York Life Insurance Company | 5.20 | |
| Note: represents ownership of 5% or more prior to the offering. | ||