January fund-raising sets pace with $2.6B in follow-ons

A series of follow-ons pushed biotechs to raise about $1.5 billion this week, bringing January's total raise to about $2.6 billion via 16 follow-ons.

The offerings have already outpaced last January, which saw $1.7 billion raised through 17 follow-ons, but fall short of the $4.2 billion raised in January 2018 through 31 follow-ons. Last year, biotechs raised a total of $23 billion in follow-ons; 2018 saw a total raise of about $26.8 billion...