This Week’s IPOs: Biotechs and a Cloud Play

Last week we had 10 IPOs, with an average return of 16%. Caesars (NASDAQ:CZR[1]) was a big contributor — it soared 58.20%. But there were six other deals that saw double-digit returns as well:

company	ticker	return (%)
Homestreet	HMST	0.00
GSE	GSE	27.80
Synacor	SYNC	5.00
FX Alliance	FX	11.10
Caesars	CZR	58.20
Cementos Pacasmayo	CPAC	-4.30
ChemoCentryx	CCXI	11.30
EPAM Systems	EPAM	16.30
Roundys	RNDY	20.20
Cempra	CEMP	14.56

This week there are only three IPOs planned. Let’s take a look at each:
Ceres (NASDAQ:CERE[2]). The company sells seeds to produce renewable bioenergy feedstocks, which helps reduce reliance on petroleum fuels.
But Ceres’ products are still in the early stages, and sales were only $6.6 million last year, with a net loss of $36.3 million.
The lead underwriter on the deal is Goldman Sachs (NYSE:GS[3]). Ceres plans to issue 5 million shares at a price range of $16 to $17 each, which is down from the prior range of $21 to $23 (indicating soft demand for the transaction).
Brightcove (NASDAQ:BCOV[4]). The company develops a cloud-based platform that allows companies to distribute and manage videos as well as mobile apps.
From 2008 to 2011, revenues jumped from $24.5 million to $63.6 million. But there was a loss of $17.3 million last year.
The company plans to sell 5 million shares at a price range of $10 to $12. The lead underwriter is Morgan Stanley (NYSE:MS[5]).
TVAX Biomedical (NASDAQ:TVAX[6]). This biotech focuses on the development of targeted cell-based treatments for cancer. This involves the use of a cancer cell vaccination and the activation of killer T cells.
After the public offering, the company plans to run a Phase III clinical trial.
TVAX plans to sell 2 million shares at a range of $9 to $11. The lead underwriter is Roth Capital.
By Tom Taulli | February 13, 2012 10:19 am