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Tips from the road(show)

Tips from biotech CEOs on how to navigate the IPO process

Kenneth Moch and Faheem Hasnain - two CEOs who participated in three IPOs in this hot window - say the keys to a successful offering are choosing banks with complementary skillsets, explicitly testing pricing assumptions before going out, and raising enough cash to get well beyond the next milestone.

Hasnain is president and CEO of Receptos Inc. and chairman of Ambit Biosciences Corp., two autoimmune, cancer and inflammation companies that went public last month. Moch is president and CEO of infectious disease play Chimerix Inc.

Both said building the right syndicate is crucial to a deal's success.

"You might want a bulge bracket that has great

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