Taking the bulge out
Jefferies lead underwriter in resurgence of big biotech follow-ons in 2011
Big biotech follow-ons are back, but this time bulge bracket banks aren't leading the way. So far this year there have been nine follow-ons over $100 million. That exceeds the seven for all of 2010.
This year is also on track to surpass the 2009 figure of 15 follow-ons over $100 million, when the likes of Vertex Pharmaceuticals Inc., Human Genome Sciences Inc. and Dendreon Corp. were lining up the cash to begin commercial operations.
But in the latest wave of