What happens when the US president and British prime minister declare the sequencing of the human genome the greatest scientific feat since landing on the moon?
Initial public offerings.
Following a script written by Internet companies in the late 1990s, far-from-profitable genomic technologies companies, many with no focused business plans, are going public.
But that does not keep financial analysts from touting their worth.
Whereas a lot of Internet businesses are simply service providers or information providers and are not going to help you create a product, bioinformatics will, said John Buchanan, director of marketing and business development at San Francisco merchant bank Burrill & Company.
With that in mind, heres a list of all of the companies that recently launched IPOs or have filed to go public. In the past two weeks alone, genomics companies have raised a total of $388 million.
Companies that have launched IPOs:
Bruker Daltonics (Nasdaq: BDAL), Billerica, Mass.: Mass spectrometer manufacturer raised $104 million. In the first day of trading, the stock climbed 75 percent to close at $22.88.
Deltagen (Nasdaq: DGEN), Menlo Park, Calif.: Gene knockout and functional genomics database provider, raised $105 million. Shares closed up 26 percent at $19 in the first day of trading.
Genaissance Pharmaceuticals (Nasdaq: GNSC), New Haven, Conn.: Developer of technology for analyzing gene variations, raised $78 million. Shares recently traded about $2 above their initial price of $13.
Rosetta Inpharmatics (Nasdaq: RSTA), Kirkland, Wash.: Gene expression data collector raised $100.8 million. Stock debuted at $16.25, 16 percent higher than its expected $14 offering price.
Companies in the IPO pipeline:
Lion Bioscience (Nasdaq: LEON), Heidelberg, Germany: To raise more than $190 million on Frankfurts Neuer Markt and the Nasdaq. IPO postponed due to Nasdaq backlog, company said.
Compugen (Nasdaq: CGEN), Tel Aviv, Israel: To offer 5 million of its shares at a proposed price of $10 to $12 a share.
InforMax (Nasdaq: INMX), Rockville, Md: Seeks to raise $75 million.
NetGenics (Nasdaq: NTGC), Cleveland, Ohio: To offer 5.5 million shares at a proposed price of $11 to $13 a share.
Genomica (Nasdaq: GNOM), Boulder, Colo.: To offer 6.9 million shares at a proposed price of $15 to $17 a share.
Third Wave Technologies (Nasdaq: TWTI), Madison, Wis.: Plans to raise $100 million.
Aaron J. Sender