The Second Pillar of Biotechnology Equity Research

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The second Pillar of Biotechnology Equity Research is financial acumen. Along with a good understanding of science, a biotechnology analyst needs to be able to dissect company’s financial statements and be able to translate business activities into financial consequences. At the end of the day, investor clients are looking to sell-side analysts to make sense of business activities (eg, how will the purchase of a manufacturing plant affect both the present company earnings and future product sales).