Could a Tech IPO Be in the Offing?

TechFlash reports: Seattle biotechnology company Omeros is inching toward an initial public offering, a significant milestone since it would be the first tech company from Washington state to price shares in more than two years. The money-losing company, which is developing treatments to reduce pain and improve joint function after arthroscopic surgery, said that it plans to sell 6.82 million shares at between $10 and $12 per share.

As we've noted on several occasions and the accompanying graphic points out, it is not a pretty picture in the IPO market. Only 22 companies have completed IPOs in the U.S. so far this year, which compares to 43 last year and 272 in 2007, according to Renaissance Capital's IPOHome.com.

In fact, the last tech company to go public from Washington was Kirkland-based Clearwire. And you've got to go all the way back to March 2007 for that one.

It is unclear whether the Omeros IPO will help break the dike, but at this point investors and employees in privately-held companies are happy with any positive sign.

Omeros plans to trade on the Nasdaq under the ticker OMER. Trading has not yet commenced, but you can read more about the company's prospects in the S-1.