Follow-ons continued their strong fourth quarter start, with seven companies raising $322.4 million last week. Adding in the three follow-ons from earlier in the month, the industry already has raised $518.9 million and 4Q11's total of $689.3 million seems well within reach.

Phase III companies in last week's crop included Anacor Pharmaceuticals Inc. (NASDAQ:ANAC), Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX) and MannKind Corp. (NASDAQ:MNKD).