While many investors ignore biotechs that have just gone public, waiting for them to mature, you should still keep an eye on the state of the IPO market, since it's a barometer for the risk investors are willing to take with established public companies.

Unfortunately, after a solid first quarter, the biotech IPO market has slowed considerably into the second quarter. While some companies are still able to get out -- Corium (NASDAQ:CORI), Cerulean Pharma (NASDAQ:CERU), and Adamas Pharmaceuticals (NASDAQ:ADMS) to name a few -- they're pricing below their ranges and aren't taking off once they hit the public markets, like we saw previously.

In the video below, senior biotech specialist Brian Orelli and health care bureau chief Max Macaluso discuss what the slowdown means for Corium, Cerulean Pharma, and Adamas Pharmaceuticals, as well as the companies still in the IPO queue, including MannKind (NASDAQ:56400P706) competitor Dance Pharma, which filed for a $75 million IPO this month.