One Goes Up, Another Finds The Floor: Thursday Morning's IPOs

Two companies came to life this morning,

and

. Tarena priced its 15.3 million share IPO at $9.00, right in the middle of its expected range of $8.00 to $10.00. Goldman Sachs and Credit Suisse were the joint bookrunners for the event. Expecting a 10:25 a.m. opening, Tarena started with a slight delay with trades at 10:42 a.m. for $9.86 per share. Shares briefly tapped a low of $9.75 in the first minute of trading before moving 10 percent above its opening price to $10.80 per share at 11:25 a.m. Since then shares have begun selling off with the market, but volume remains consistent.

Tarena is a holding company and specializes in education services. Services include live long distance instruction, tutoring and information technology focused learning modules. According to the company, they intend to use the proceeds of the offering to, “invest in course development, expanding the learning center network, sales and marketing activities, technology infrastructure, capital expenditures, improving facilities, and other general administrative matters.” Corium priced its $5.5 million share IPO at $8.00 per share, well below the expected $10.00 to $12.00 range. The IPO was brought to market through Jeffries and Leerink. Lately, biopharma IPO's have been hot right out of the gate, like

, which opened last week and trades 29 percent above its opening price. Corium has bucked the trend, opening at $8.26 on the NASDAQ. It briefly traded to a high of $8.48 before selling off fast and hard to find the lows of the day at $7.67. Currently, it trades just off the lows at $7.91 per share, below both the IPO price and its opening price. Corium is a biopharmaceutical company that focuses on manufacturing and developing transdermal pharmaceutical products. Net proceeds are intended to be used for phase 2 clinical trials, increasing scale of production capability for their MicroCro products, development of proprietary products, advancement of currently MicroCor technology and working capital. They also intend to reserve approximately $5.2 million to buy back shares.