Finding a window

TKTX's offering may have been buttressed by the speculation surrounding its competition with Amgen (AMGN) in EPO (see BioCentury Sept. 3). TKTX priced at $15 and traded as high as $17.75 on its first trading day. But the stock quickly moved south, closing the week at $13.625, giving TKTX a $226 million market cap. . . . ARQL upped its deal by 500,000 shares, raising $30 million through the sale of 2.5 million shares at $12. Friday's price of $13.25 gives ARQL a $126 million market cap.

EROSION, PART II: SUGN fell 11 percent to $12.375 on Tuesday, a day before the company announced a 2 million share follow-on. The stock edged back to $13 on Friday, down 5 percent on the week. This is SUGN's second battle with "follow-on erosion". In April, it postponed a 3.5 million-share deal after its stock fell 7 percent to $12.75 after filing...