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IPO Filings: Phenomix; MYR Group

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By Douglas A. McIntyre Updated Published
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PHENOMIX CORP. submitted an IPO filing last Friday. The filing shows for a sale of up to $86,250,000 in securities, although this number is merely for filing purposes.  The underwriting group is listed as Morgan Stanley, Oppenheimer and Co., Credit Suisse, and Pacific Growth Equities. Phenomix Corp. has applied for the stock ticker “PHMX” on NASDAQ.

  • Phenomix Corp. is a biopharmaceutical company that focuses on product candidates that improve existing therapies as well as other product candidates in clinical development. Their lead product candidate is PHX1149, an oral, once-daily treatment for Type 2 diabetes, and is currently in Phase 2b clinical trials with expected Phase 3 clinical trials to begin later this year. Their other product, PHX1766, is in pre-clinical development for the treatment of hepatitis C virus infection and Phase 1 trials are expected to begin later in 2008.  Key shareholders include JPMorgan Funds, Nomura Phase4 Ventures, and Delphi Funds. 

MYR GROUP INC. submitted an IPO filing last Friday. The filing shows for a sale of up to $255,980,101 in securities, although this number is merely for filing purposes.  MYR Group Inc. has applied for the stock to be listed on NASDAQ without a pre-set ticker designation.

MYR Group is a large national contractor that services the transmission and distribution sector of the electric utility industry in the United States. They contract with over 125 electric utilities, cooperatives and municipalities in this sector. Their other revenue generating sector is commercial and industrial electrical contracting services. In 2006, MYR and affiliates purchased 98% of FirstEnergy, and for the year ending 2006, MYR Group generated an estimated $535 million in pro forma revenues and a pro forma net income of $10.95 million. 

Key shareholders include William Koertner, Carter Ward, ArcLight Affiliates, Goldman Sachs, and Fidelity. 

THIS STORY WAS ORIGINALLY SCHEDULED TO RUN THIS WEEKEND BUT WAS DELAYED ON SERVER & HOSTING MAINTENANCE.

Rachel Lopez
January 28, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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