Table A-2 Financial Summary of Syntex Corporation ($ millions)

Fiscal Year Ending

7/31/1960 7/31/1965 7/31/1970 7/31/1975
Sales 7 36 90 246
Net Income 0.3 10 12 42
Operating margin 3% 26% 14% 17%
Market capitalization (at fiscal year end) 43 408 256 681
scal Year Ending
7/31/1980 7/31/1985 7/31/1990 3/15/1991
580 949 1521
75 150 342
19% 23% 30%
716 1994 6911 8513
Table A-4 5% Shareholders of ImmuLogic Pharmaceutical Corporation

Name Shares Benifically Owned

Number Percent

Merck & Co., Inc. 1,150,000 17.9%

Arrow Partners (Rothschild, Inc.) 941,451 14.6%
Greylock Partnerships 705,732 11.0%
Technology Venture Investors 628,333 9.8%
Institutional Venture Partners 557,663 8.7%
Mayfield Funds 371,437 5.8%
Malcolm L. Gefter 500,000 7.8%
Other officers and directors 314,125 4.6%
Other venture funds, consultants and employees 1,267,024 19.8%
Table A-5 Financial Statements of ImmuLogic Pharmaceutical Corporation: Balance Sheets, 1988 to 1990 ($ 000
1988 1989 1990

Sponsored research revenues $1,426 $3,230 $3,265

Operating expenses:
Research and development $2,721 $5,181 $7,236
General and administrative $1,982 $2,227 $3,367
Total Expenses: $4,703 $7,408 $10,603

Operating loss ($3,277) ($4,178) ($7,338)

Interest income, net $565 $1,034 $1,294

Net loss ($2,712) ($3,144) ($6,044)
e Sheets, 1988 to 1990 ($ 000s)
Table A-5 (continued) Consolidated Balance Sheets, December 31, 1989 and 1990 ($000s)

12/31/1989 12/31/1990

ASSETS
Current Assets:
Cash and cash equivalents $20,084 $14,786
Prepaid expenses and other current assets 199 258
Interest receivable 183 98
Total current assets $20,466 $15,142
Property and equipment, net 3461 3266
Other assets 201 195
Total assets $24,128 $18,603

LIABILITIES
Current Liabilities:
Accounts payable $271 $282
Accrued expenses 239 363
Note payable 150 0
Current portion of capital leases 218 245
Total current liabilities $878 $890
Other noncurrent liabilities 0 750
Capital lease obligation 1,105 859
Total liabilities $1,983 $2,499

STOCKHOLDERS' EQUITY
Convertible preferred stock:
Series A, $.01 par value; 1, 675, 000
shares authorized; 1,675,000 shares issued
and outstanding at December 31, 1989 and
1990 17 17
Series B, $.01 par value; 2,129,167 shares
authorized; 2,129,167 shares issued and
outstanding at December 31, 1989 and
1990 21 21
Series C, $.01 par value; 1,200,000 shares
authorized; 1,200,000 shares issued and
outstanding at December 31, 1989 and
1990 12 12

Common stock , $.01 par value; 8,100,000 shares

authorized; 1,523,288 and 1,324,098 shares
issued and outstanding at December 31, 1989
and 1990 15 13
Additional paid-in capital 28,745 28,749
Less note receivable (81) (81)
Accumulated deficit (6,584) (12,627)
Total stockholder's equity 22,145 16,104
Total liabilities and stockholders' equity $24,128 $18,603
Table A-7 Sales Projections for ImmuLogic Pharmaceutical Corporation, March 1991 ($ millions)

1994E 1995E 1996E 1997E 1998E

AllerVax sales
Cat 0.00 15.00 40.00 60.00 75.00
Ragweed 25.00 65.00 120.00
Mite 40.00 85.00
Grasses 20.00
AllerVax royalties 1.50 6.50 16.50 30.00
Allergic rhinitis 20.00
Asthma 20.00

Total 0.00 16.50 71.50 201.50 350.00

Table A-7 (continued) Sales Projections for ImmuLogic Pharmaceutical Corporation, March 1991 ($ millions)
1989 1990 1991E 1992E 1993E 1994E
Revenues:
Product sales & royalties 0
Contract revenue 3.23 3.27 6.1 8.6 11.32 8.48
Net interest & other 1.03 1.29 1.3 2.2 2 3.2
Total Revenue 4.26 4.56 7.4 10.8 13.32 11.68

Expenses:
Cost of goods sold
Research & development 5.18 7.24 11.19 15.13 18 22
Selling, general & administrative 2.23 3.37 2.67 3.28 4.5 6
Total Expenses 7.41 10.61 13.86 18.41 22.5 28

Income before tax (3.15) (6.04) (6.47) (7.61) (9.18) (16.32)

Taxes
Net income (3.15) (6.04) (6.47) (7.61) (9.18) (16.32)
h 1991 ($ millions)
1995E 1996E 1997E 1998E

16.5 71.5 181.5 370

14 12.5 8.5 3.5
4 5 6 8
34.5 89 196 381.5

4.13 17.88 50.82 103.6

30 42 60 80
14 26 34 50
48.13 85.88 144.82 233.6

(13.63) 3.13 51.18 147.90

5.12 50.29
(13.63) 3.13 46.06 97.61