BioCentury
ARTICLE | Finance

Ebb & Flow

January 19, 2009 8:00 AM UTC

Although biotech banking hasn't looked like a growth opportunity, the combination of Wedbush Morgan Securitiesand Pacific Growth Equities may remind seasoned biotech watchers of a time when specialty banking and retail brokerages combined to make markets for the sector.

Last week, Wedbush Morgan announced it would acquire Pacific Growth, which in the past two years has underwritten 11 follow-on offerings, six PIPEs, four IPOs and three private placements...