77 initial public offerings have been priced so far this year as of May 12, 2006:

- 47 IPOs are currently trading above initial offering price;
- 25 are trading below the offering price;
- and 5 are trading at their offer price.

Five IPOs were priced during the week of May 8th, 2006. There are another five deals scheduled to be priced during the coming week, hoping to raise nearly $700 million.

IPO PERFORMANCE

ADVANCERS:

Basin Water, Inc. (BWTR: chart) priced its initial public offering of 6.0 million shares of its common stock at a price of $12.00 per share on Thursday, at the high end of a revised expected price range of $10 - $12. The offer was worth $72 million.

All of the shares of common stock were offered by the company.

Basin Water has granted to the underwriters a 30-day option to purchase up to 900,000 additional shares at the initial public offering price to cover excess demand.

Janney Montgomery was acting as the lead manager for the offering. A.G. Edwards and Canaccord Adams were acting as co-managers.

Basin Water designs, builds and implements systems for the treatment of contaminated groundwater.

The company’s shares closed at $16.65 on Friday, up 38.8% from the initial offering price.

BioMimetic Therapeutics, Inc. (BMTI: chart) priced its initial public offering of 4.6 million shares of its common stock at $8.00 per share on Friday, raising lower-than-expected $36.8 million. The company had filed to sell 4.5 million shares within $11 - $13 each.

BioMimetic Therapeutics has granted the underwriters a 30-day option to purchase 690,000 additional shares of its common stock to cover over-allotments.

The underwriters were Deutsche Bank Securities, Pacific Growth Equities, First Albany Capital and A.G. Edwards.

BioMimetic Therapeutics is developing and commercializing bio-active drug-device combination products for the healing of musculoskeletal injuries and disease, including periodontal, orthopedic, spine and sports injury applications.

The company’s shares closed at $8.25 on Friday, up 3.1% from the initial offering price.

Novacea Inc. (NOVC: chart) priced 6.3 million of its shares at $6.50 a piece, in the middle of the expected price range. All of the shares of common stock were offered by the company.

Novacea has granted to the underwriters a 30-day option to purchase up to 937,500 additional shares at the initial offering price to cover over-allotments.

Bear Stearns and Cowen & Company acted as lead managers with Pacific Growth Equities and HSBC Securities as co-managers.

Novacea is a biopharmaceutical company focused on in-licensing, developing and commercializing novel therapies for the treatment of cancer. The company''s in-licensed product development programs include three clinical-stage oncology product candidates.

The company’s shares closed at $6.60 on Friday, up 1.5% from the initial offering price.

Compass Diversified Trust (CODI: chart) priced its initial public offering of 13.5 million shares at an offering price of $15.00 per share on Thursday.