Ebb & Flow

Anyone needing to be reminded about biotech's momentum needn't look much farther than the third quarter funding totals. The industry put $6 billion in its tank during the 13 weeks ended last Tuesday, bringing the 2003 total to $12.3 billion. More notable is that it took less than three quarters for the group to eclipse the $11.5 billion raised in all of 2002.

Delivery/imaging play Acusphere is slated to price its IPO tomorrow or Wednesday. CancerVax is also on the SEC's docket to get out this week. ...