• 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. 

• Earlier today, we also covered the IPO filing for Al Gore’s Current Media.

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

Rachel Lopez
January 28, 2008