stock performance graph the graph depicted below shows a comparison of our cumulative total stockholder returns for our common stock , the nasdaq stock market index , and the nasdaq pharmaceutical index , from the date of our initial public offering on july 27 , 2000 through december 26 , 2003 . the graph assumes that $ 100 was invested on july 27 , 2000 , in our common stock and in each index , and that all dividends were reinvested . no cash dividends have been declared on our common stock