Record Use of At-the-Market (ATM) Offerings by U.S. Life Sciences Companies in First Half of 2013, Reports Brinson Patrick

Record Use of At-the-Market (ATM) Offerings by U.S. Life Sciences Companies in
                 First Half of 2013, Reports Brinson Patrick

- Life Sciences Industry Raised $108 Million in Q2 and $285 Million in First
Half -

PR Newswire

NEW YORK, Sept. 17, 2013

NEW YORK, Sept. 17, 2013 /PRNewswire/ --Brinson Patrick, a division of Meyers
Associates LP, reported today that U.S. life sciences companies raised $108
million through ATMs in the second quarter of 2013, compared to $50 million in
the second quarter of 2012. A total of $285 million was raised by life
sciences companies in the first half of 2013, which is a record high for ATM
usage in the first half of a year.

Companies whose ATMs were active in the second quarter included: Coronado
Biosciences, Inc. (NASDAQ: CNDO), Burlington, MA; Pacific Biosciences of
California, Inc. (NASDAQ: PACB), Menlo Park, CA; Peregrine Pharmaceuticals,
Inc. (NASDAQ: PPHM), Tustin, CA; Raptor Pharmaceuticals, Inc. (NASDAQ: RPTP),
Novato, CA.

"The biotech and pharmaceutical industries continue to raise record amounts of
capital with ATM offerings," said Todd Wyche, President of Brinson Patrick.
"An increasing number of companies are realizing the benefits of having an ATM
in their financial toolkits."

An ATM provides an efficient means of raising equity capital over time by
enabling a publicly traded company to tap into the existing secondary market
for its shares on an as-needed basis. With an ATM, an exchange-listed company
incrementally sells newly issued shares into the trading market through a
designated broker-dealer at prevailing market prices, rather than via a
traditional underwritten offering of a fixed number of shares at a fixed price
all at once. ATMs are also generally less expensive and less complicated to
execute than traditional equity offerings and do not require a lot of
executive time.

About Brinson Patrick

Brinson Patrick Securities Corporation recently announced that its
professionals have entered into agreements with the boutique investment
banking firm Meyers Associates, L.P. to create a newly formed group to be
known as "Brinson Patrick, a division of Meyers Associates, LP." The new
division will offer a broad array of corporate finance services, including ATM
offerings. For more information, please read the press release by clicking
here.

Brinson Patrick draws on a 17-year track record of employing the DOCS®
(Dynamic Offering of Common Stock)at-the-market (ATM) financing facility to
raise the capital for clients as they need it. The DOCS® ATM is a low-profile
equity offering appropriate for publicly traded companies across multiple
industries and market capitalizations. It has been successfully utilized by
companies in the energy, life sciences, technology, real estate, financial
services and hospitality industries with market capitalizations that range
from $50 million to over $1 billion.

SOURCE Brinson Patrick

Website: http://www.brinsonpatrick.com
Contact: Brinson Patrick, Tim Studley, (212) 453-5000, tstudley@bpmeyers.com
 
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