There may be no summer lovin’ for biotechs. By most accounts, investors will remain tightfisted with their cash for some time, opening up their wallets for only the most promising investments. In a sign of how devastating the global economic crisis has become for the industry, more than a third of the 344 public biotechs had less than six months cash on hand by the end of March 2009, according to Burrill & Company statistics. And the situation is probably even bleaker among smaller, private companies.