Bit by bit, the IPO market is picking up steam. And, the latest deal hit the markets today: Medidata (NASDAQ: MDSO).
So far, the shares are up 19% $16.70 (the IPO priced at $14, which was above its $11-$13 price range).
Founded about ten years ago, Medidata develops web-based software for clinical trials management. Obviously, it's a big market opportunity.
Keep in mind that a drug costs more than $1 billion to develop. Oh, and the process can easily go beyond a decade. In other words, it's important to streamline the process.
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