Monday, October 28, 1996
By Eric Pierce
Friday proved fruitful for the biotech market, allowing three companies to raise an aggregate $72 million in public money. Closers include Ligand (LGND), which raised $33 million through the sale of 2.75 million shares at $12. Sugen (SUGN) banked $24 million, pricing 2 million shares at $12; while Cubist (CBST) raised $15 million in a deeply discounted IPO (see below).