Daily Chart: May follow-on frenzy

May ended with a whopping $9 billion in follow-on capital raised for life sciences companies, more than the four previous months combined.

The follow-on market had gone largely quiet in March and April as the broader markets were rocked by the pandemic, but significant inflows into the sector last month created a window of opportunity for May fund-raising (see “Follow-on Market Poised for a Comeback”)...