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This article was originally published in The Gray Sheet

Executive Summary

Pulmonary drug delivery system firm's $43.2 mil. initial public offering Nov. 10 includes 3.6 mil. shares at $12 each. The Sunnyvale, California firm notes that its first nebulizer, the FDA-approved portable AeroNeb, is targeted for launch in the first half of 2001. AeroGen also is developing AeroDose inhalers. Chase H&Q was lead manager for the IPO; CIBC World Markets and SG Cowen were co-managers. The underwriters hold a 30-day over-allotment option for up to an additional 540,000 shares



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