Competition for Biotech CFOs is Heating Up

Published by Pharmaceutical Executive

Finding the right talent to fill leadership positions is never easy. But when the market is flooded with opportunities and the coveted qualifications are specialized, the task becomes a real issue. This is a current concern for many biotech companies looking to fill chief financial officer (CFO) positions. The recent biotech explosion combined with a desired candidate skill set that includes life sciences and capital markets experience has created a demand for a specific type of CFO that simply outstrips the supply.

According to investment banking firm Young & Partners, 2018 was a banner year for initial public offerings (IPOs), with 68 of them worth $7.4 billion. The first three quarters of 2019 followed with 38 IPOs worth $4.3 billion. This indicates a growing number of companies looking to fill CFO positions. The problem is, traditional CFO skills often fall short when it comes to biotech.

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