Secondaries Announced 10.3.17

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Our Buy, Neutral or Avoid ratings of the Secondaries below are intended as a recommendation for those who buy Secondaries on a regular basis. For example, this is not to be interpreted as a Buy recommendation in the traditional sense of adding to your stock portfolio; this is a short term (usually one day or opening trade) time period.

Company: Rigel Pharmaceuticals
Symbol: RIGL
Price: Last Trade $3.23
Trade Date: 10/5
Shares: 12.4 million ($40m cash raise)
Underwriter(s) : Jefferies, BMO Capital Markets
Description: Rigel Pharmaceuticals, Inc. is a biotechnology company dedicated to discovering, developing and providing novel small molecule drugs that significantly improve the lives of patients with immune and hematological disorders, cancer and rare diseases.
Rating = Subscription Needed

Company: Strongbridge Biopharma PLC
Symbol: SBBP
Price: Last Trade $7.50
Trade Date: 10/4
Shares: 4 million ($25m cash raise)
Re-Offer Range: Subscription Needed
Underwriter(s) : Cantor Fitzgerald
Description: Strongbridge Biopharma is a global commercial-stage biopharmaceutical company focused on the development and commercialization of therapies for rare diseases with significant unmet needs.
Rating = Subscription Needed

Company: NewLink Genetics
Symbol: NLNK
Price: Last Trade $10.91
Trade Date: 10/4
Shares: 4.6 million ($50m cash raise)
Re-Offer Range: Subscription Needed
Underwriter(s) : BofA Merrill Lynch, Stifel
Co-Manager(s): Baird
Description: NewLink Genetics is a late-stage biopharmaceutical company focusing on discovering, developing and commercializing novel immuno-oncology product candidates to improve the lives of patients with cancer.
Rating = Subscription Needed