Adding up the follow-on bonanza

Investor appetite for biotech paper coming out of the JPMorgan Healthcare Conference continues unabated, with 14 companies raising nearly $2.6 billion in follow-ons last week.

The cash haul was almost 25% of the $11.1 billion raised in biotech follow-ons in all of 2014 - itself the second-highest year for follow-ons behind 2000 - and makes January 2015 the best month for biotech follow-ons since BioCentury started tracking financings in 1994...