Earlier this year, the initial public offering (IPO) market couldn’t get enough biotech. To say things have gotten tougher for those usually high-risk, high-reward plays is to put it mildly.

Of four new biotechs and one holdover scheduled to go public last week, only two made it out, one was postponed, and the other two have been held over again. All six of the last biotech IPOs posted negative first-day performance, and eight of the last 10 now trade below their IPO price, according to Renaissance Capital. That’s not a particularly encouraging signal for this week’s new biotech entrants.

Renaissance Capital reports that 228 IPOs have priced in the United States so far this year, up 35% from a year ago. Total proceeds raised come to $73.5 billion, up about 84% from 2013. To date in the month of October, IPO proceeds total $4.4 billion. Last week’s IPOs added $1.3 billion to the October total. The 2013 IPO total came in at $54.9 billion, the highest total in the past 10 years, and that has already been surpassed with more than three months left in 2014.

Last week’s postponed IPO was Xenon Pharmaceuticals Inc., a Canada-based clinical-stage biopharmaceutical company that is using its own core enabling discovery platform to develop therapeutics for a range of diseases. The company cited market conditions as its reason for the postponement.

ALSO READ: 9 Analyst Stock Picks Under $10 With Massive Upside Calls

The other biotechs that did not meet their schedule last week are back for another grab at the IPO prize in the coming week. Viking Therapeutics Inc. is a clinical-stage biopharmaceutical company based in California and focused on developing therapies for metabolic and endocrine disorders. The company plans to offer 5 million shares in a price range of $10 to $12, raising $55 million at a market cap of about $167 million. The IPO is listed as day-to-day. Shares will trade on the Nasdaq under the ticker symbol VKTX.

The other holdover biotech is Virobay Inc., a clinical-stage pharmaceutical company that is currently working on a treatment for neuropathic pain and other diseases. The company plans to offer 3.9 million shares, in an expected price range of $12 to $14, to raise $50 million at a market value of $169 million. Underwriters include Piper Jaffray, JMP Securities, Cantor Fitzgerald and Summer Street Research Partners. The IPO is listed as day-to-day. Shares will trade on the Nasdaq under the ticker symbol VBAY.

One last holdover from last week is blank-check company Hydra Industries Acquisition. The company plans to offer 10 million shares at $10 per share. UBS Investment Bank is managing the IPO and EarlyBirdCapital is co-manager. The IPO is listed as day-to-day. Shares will trade on the Nasdaq under the ticker symbol HDRAU. The amended Form S-1 filing contains further details on the IPO.

The first of this week’s first-time IPO offers is Anchor BanCorp Wisconsin Inc., a savings and loan holding company with 54 branch offices in Wisconsin. The bank plans to offer 400,000 shares in an IPO price range of $25 to $27 to raise $9.7 million. The company filed for Chapter 11 bankruptcy in August of 2013, and this IPO is part of its recapitalization plan. Underwriters are Sandler O’Neil and Baird. The IPO is just scheduled for the week beginning October 20. The new shares will trade on the Nasdaq under the ticker symbol ABCW.

ALSO READ: Huge Market Sell-Off Sparks Some Massive Insider Buying

EndoStim Inc. is a medical device company that is developing a neurostimulation system for treating severe gastroesophageal reflux disease. The company plans to offer 3.2 million shares in an expected price range of $10 to $12, raising about $35 million at a market cap of about $92 million. Underwriters include Wedbush PacGrow, Craig-Hallum Capital Group and Roth Capital. The IPO is scheduled for the week of October 20, and EndoStim will list its shares on the Nasdaq under the ticker symbol STIM.

Fifth Street Asset Management Inc. is an alternative asset management firm with more than $5.6 billion in assets under management. The firm plans to offer 8 million shares in an IPO price range of $24 to $26, raising $200 million at a market value of $1.22 billion. Morgan Stanley, J.P. Morgan, Goldman Sachs, RBC Capital Markets and Credit Suisse are joint bookrunners for the IPO. The shares are scheduled to price on Tuesday and begin trading Wednesday on the Nasdaq under the ticker symbol FSAM.

Proteon Therapeutics Inc. is a late stage biopharmaceutical company developing drugs for patients with renal and vascular diseases. The company plans to offer 4.7 million shares at an IPO price range of $12 to $14, raising $61 million at a market cap of around $183 million. Stifel and JMP Securities are joint bookrunners and Baird and Oppenheimer are co-managers for the IPO. The stock is expected to price on Tuesday and begin trading Wednesday on the Nasdaq under the ticker symbol PRTO.

Electronic Cigarettes International Group Ltd. markets and distributes electronic cigarettes under the brand names FIN, VIP, VAPESTICK, Victory, Victoria and El Rey. This is not an IPO. The company is planning to sell 33.3 million shares on the Nasdaq after transferring the shares from the OTC markets, where they currently trade under the ticker symbol ECIG. Shares closed at $4.19 on Friday. That indicates a capital raise of around $140 million at a market cap of about $575 million. Shares will begin trading Friday on the Nasdaq under the ticker symbol ECIG.

ALSO READ: 5 Reasons Oil Is Not Rising

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.