A Steadying Force in C-Suite: The Changing Role of Biopharma CFOs

COVID-19 pandemic, the challenging capital-markets climate in biotech, and a more innovative and specialty treatment focus has increased reliance on the finance arm as a key strategic cog.

Over the past three years, the pharmaceutical industry has gone through several impactful changes. During the early months of the COVID-19 pandemic, investors flooded the industry with money, allowing new companies to emerge and conduct multiple rounds of clinical trials while still being confident that more funding would be available. Over the past year, however, things have changed and funding is harder to come by. This has put the role of chief financial officer in the spotlight….

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Shoreline Bioscience’s CFO, Vanessa Jacoby, notices similar trends as well.“With the volatility of the market, I think capital is becoming sparser and you have to, again, navigate the trade-offs,” she tells Pharm Exec. “What is important to your organization? How do you focus? What are the products that are more likely to make it to the clinic, and what are the unmet needs that we’re trying to solve here?”

According to Jacoby, due to the volatility of the markets, CFOs are focused on making sure that their companies are well-resourced and can deliver the goals of the wider organization. Even if the markets become less volatile, those goals will remain the same.

She adds that the pandemic likely caused a good amount of capital to flood the industry. Over the past months, however, interests have changed, and she believes that many generalist investors have moved on to different sectors.

“It’s a cyclical process,” says Jacoby. “You have a lot of resources, and then they decline, and you have to do the best that you can, always with the goal in mind to bring drugs to patients.”

[Full article text: https://www.pharmexec.com/view/a-steadying-force-in-c-suite-the-changing-role-of-biopharma-cfos]

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