Eight biotechs raise more than $3.2B in big overnight for follow-ons

With clinical catalysts this week as a major driver, eight biotechs raised more than $3.2 billion total between Tuesday’s close and Wednesday’s morning bell, signaling strength in the marketplace for follow-ons in the sector.

The sum is surely one of the largest amounts ever raised in a day by a group of public biotechs, and far exceeds any other weekly total in 2025 (see Chart)...