How Biopharma Companies Can Keep ‘Feeding the Beast’

Published by STAT

Authored by Gregg Beloff

My colleagues and I lead and support the finance function of more than 160 biopharma companies. This gives us an inside view of the conversations and questions dominating the leadership teams of life science firms over the past few weeks as the Covid-19 pandemic has changed just about every aspect of the U.S. and global economies. Common themes have emerged, but none are more pervasive than “feeding the beast.”

The capital needs of biopharma companies are unrelenting, even in the best of times. The path is not unlike jumping from stone to stone to cross an unfathomably wide river: You raise just enough funds to reach the next inflection point, then ramp up for the next big jump. Questions about capital are constantly top of mind: How much is needed? How should it be efficiently managed? How and when should we raise more?

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