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Control Delivery System, Inc.
313 Pleasant Street, Watertown, MA 02472 * (617) 926-5000
Business Description The company designs, develops and manufactures innovative, sustained-release drug delivery products. Our products are designed to treat severe and chronic diseases that have limited or no effective treatment options and represent significant market opportunities.
Filing
Information

Not yet
public

To Trade As  CDSY (NASNTL) Industry  Pharmaceutical (SIC 2834)
Type of Stock Offered Common Shares Filing Date  12/15/2000
Domestic Shares Filed 0 Filing Price  - -
Foreign Shares Filed  0 Offering Amount  $75,000,000
Company Shares  0 Est. Expenses  - -
Selling Shrhldrs Shares  0 Post-IPO Shares  - -
Primary
Underwriting
Group
Underwriter NameParticipationUnderwriter Phone
Deutsch Banc Alex. Brown Lead Manager (410) 727-1700
Banc of America Securities LLC Co-manager (415) 627-2100
SG Cowen Co-manager (212) 495-6000
Income
Statement
and
Cash Flow
Summary
  Prior
Audited
Income
Latest
Unaudited
Income
  Full Year Audited Figures 9 Months Ending
Figures in U.S. millions except per share data 12/31/1995 12/31/1996 12/31/1997 12/31/1998 12/31/1999 9/30/1999 9/30/2000
Revenues   0.631 2.221 1.349 1.115 2.785 1.777 4.176
Income from Oper.   0.023 0.747 -0.401 -0.869 -0.133 -0.280 0.094
Net Income   0.030 0.748 -0.394 -0.866 -0.094 -0.251 0.401
E.P.S   0.020 0.370 -0.200 -0.420 -0.050 -0.120 0.322
Revenue Growth (%)      251.98 -39.26 -17.35 149.776   135.00
Net Income Growth (%)      2,393.33 - - -   -
Oper. Profit Margin (%)    3.65 33.63 - - - 2.25 -
Net Profit Margin (%)    4.75 33.68 - - - 9.60 -
Cash Flow - Oper.     1.23 1.02 0.45
Cash Flow - Inv.     -0.25 -0.11 -0.62
Cash Flow - Fin.     0.03 0.23 30.06
Balance Sheet
Summary
and
Financial
Ratios
Balance sheet as of: 9/30/2000 Financial Ratios
Total Assets    32.01 Current Assets    31.16 Current Ratio    10.99
Total Liab.    34.09 Current Liab.    2.84 Debt Ratio    106.52%
Total Equity    -2.09 Working Cap.    28.32 Debt to Equity Ratio    -
Cash    31.03    Return on Assets   1.25%
Use Of
Proceeds
The proceeds from the proposed offering will be used for research, development and commercialization of products, expansion of manufacturing facilities and general corporate purposes including working capital.
Legal Counsel
Registrar
Auditor
Issuer's Law Firm  Ropes & Gray
Bank's Law Firm  Piper & Marbury
Registrar/Transfer Agent  American Stock Transfer & Trust Co
Auditor  Pricewaterhouse Coopers LLC
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Principal
Shareholders
Name of Shareholder% Owned
Before
% Owned
After
Bausch & Lomb Incorporated 23.50  
Essex Woodlands Health Ventures 7.30  
Note: represents ownership of 5% or more prior to the offering.

Last updated: 12/30/2000 6:33:35 PM
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