It is a moot point whether many of the companies involved in advanced or light emitting polymers, are nanotechnology are not. Our feeling is that they probably are not, but as Lumera managed to hitch a ride on the nanotech bandwagon, it is often less clear for investors.
Another IPO with a loose connection then, to nanotechnology, has been filed by Cambridge Display Technology, although the numbers look even worse than Nanosys.
According to Silicon Strategies, CDT made a net loss of $22.8 million on operating revenues of $10.7 million in 2003. CDT reported a net loss of $17.7 million in the first quarter of 2004 on revenues of $1.3 million. Ouch!
We are not sure who is advising CDT, but if going public in the current climate is tricky for giants like Google, than this smacks of desperate investors attempting to get an exit.