Happy (IPO) Days are here again ?

One is led to believe that happy IPO days are back again, if one were to take a look at what Accuray Inc. of Sunnyvale, CA did yesterday and today. They make the CyberKnife a non-invasive robotic radiosurgery system to treat tumors in the body. They claim sub-millimeter accuracy ! Accuray (ARAY) priced their IPO at $18 at the high end of the range. The stock opened at $21 today (2/8/07) and closed at $28.47, up over $10 (58% for the day), giving the company a market cap of over $1.5B. Heady stuff ! Reminiscent of the heydays of the valley in 1999 and 2000. Of course, one swallow does not make a summer. But, coupled with the rise of ISRG , indications are that the biomedical space may show hot growth for Silicon Valley, as I discussed in my Feb 4th posting. The opinions of the CSPA VC panel that 2007 could be a good year for the IPO market (see my Jan 24th posting) seem to be heading in the right direction too, if ARAY is an indicator.