Companies that filed to go public before the market crashed last year seem ready to give it another go.
Today, I a saw that Omeros, a biopharmaceutical company, filed an amended prospectus for a public offering it initially proposed a year ago. The company, which posted a loss of $5.5 million in the first quarter, didn’t say how much it plans to raise.
Omeros, which develops treatments for inflammation and central nervous system disorders, has been around since the mid-90s and raised $79 million in venture funding, according to Thomson Reuters. But ARCH Venture Partners is the only one listed as a significant shareholder, with a 5% stake in the company.
It’s the second time in three days that a company with an aging IPO prospectus indicated it’s still looking to go public. On Wednesday, Nexsan Corp., a provider of energy-efficient disk-based storage systems, filed an amended IPO prospectus for an offering on Nasdaq. The Thousand Oaks, Calif. company made its initial filing for an $80.5 million offering in April of last year.
Could it be that venture-backed companies believe the two-month-old market rally is for real? Or that the pace of new offerings is starting to normalize? It’s hard to be too optimistic in the face of escalating unemployment, record federal deficits, and California on the brink of budgetary collapse. But considering how the IPO market was virtually nonexistent last year, it doesn’t take much to make an improvement.