Shorter road shows?

Five follow-ons closed on Friday, bringing $107 million in new money to biotech companies in a single day. NPS Pharmaceuticals (NPSP) raised $45 million; Fuisz Technologies (FUSE) raised $28.1 million; Interferon Sciences (IFSC) brought in $16 million; Life Medical Sciences (CHAI) picked up $13.3 million; and DUSA Pharmaceuticals(DUSA) pocketed $5.4 million.

All told, companies raised $479 million last week, including $75 million in convertible notes by North American Vaccine (NVX). In the previous week, the total take reached a high for the year at $557.9 million, but that included $435 million in a convertible debt offering by Alza (AZA)...