Bay Area biotechs get a blast of cash

A report by Ernst & Young disclosed that roughly 44 percent of U.S. biotech companies operated with less than a year's worth of cash on hand in 2008, up from 25 percent in 2007. Biotechs raised $5.9 billion through June 4, 2009 as compared with $5.4 billion in the same period in 2008. A table of licensing deals of selected Bay Area biotech financing for 2009 is included.