Mid-Year Review: Assessing Your Biotech Company’s Needs Following Q2 Earnings
As this year’s Q2 biotech earnings season wraps up, investors are taking stock of which previously stated objectives and milestones public companies have delivered on, and which ones have been missed. Whether your life science company has had smooth sailing or unexpected hurdles in the first half of the year, there is ample opportunity to strategize for the third and fourth quarters. Here are the essentials when it comes to preparing for the remainder of 2023.
Take advantage of the summer lull
While the summer months, particularly August, are often considered to be the “slow season” in biopharma, this period of time presents an important inflection point for public life science companies. While the industry takes a pause, use the added time to your advantage. Work on messaging – which adjustments will you need to make? Have you made any promises externally that should be taken into consideration? Collaborate with your team and connect with your analysts to ensure that everyone is aligned on where your company stands and the goals on which you’re most focused for the remainder of the year.
Update your biotech investor conference calendar
Discuss JP Morgan Healthcare Conference plans
In order to be adequately prepared for the biggest biotech event of the year (or the beginning of next year, to be specific), your team will need to account for several months of planning. Work with your investor relations team first to determine whether the investment required to attend the 2024 JP Morgan Healthcare Conference makes sense with your overall strategy. If you do decide to go to San Francisco for January’s event, expand discussions beyond your IR team. Work with your company’s public relations team to connect with reporters who will be in attendance, or with your marketing team to discuss opportunities for hosting or conferencing satellite events.
Get ready for 2024
When preparing for the rest of 2023, you’ll need to think beyond the end of the year – your IR strategy is a continuous one, and long-term planning is essential. In your company’s recent Q2 earnings report, you likely reflected on your company’s near-term outlook – but what will your equity story be one year from now, and what drivers do you think will be most important? Biopharma companies in particular can benefit from long-term planning, with product pipelines that may take several years to yield significant data. Take anticipated slow periods into account and develop your messaging with the aim of giving your stakeholders a clear picture of your company’s present and future opportunities.