Phase III Funding Bid

Even though Merck & Co. Inc. has terminated a deal for Anacor Pharmaceuticals Inc.'s lead candidate AN2690, the biotech last week refiled for an IPO of up to $86.3 million.

Merck (NYSE:MRK) ended the deal in February after the topical antifungal completed Phase II testing to treat onychomycosis. The pharma said the decision was a result of prioritizing its pipeline since last year's acquisition of Schering-Plough Corp., through which it gained AN2690...