I am a biotech analyst with a science background, who covers pre-revenue, smid cap companies.
While I do some modeling for my analysis, most of the time, the revenues are years into the future and not critical to the thesis.
However, I've always felt that this is a weak spot in my analysis, and I'd like to take some course during my time off to become better at it.
Are there any courses that is useful for someone who's never taken an accounting or finance course in their life, but has learned some modeling on the job? Something that can help someone understand the DCF and tying the 3 f statements in a more intuitive manner and with speed?
Get the WSO course, I think they have a financial modeling bundle. That helped me out.
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Pal Pignataro
Biotech analyst here as well. I did breaking into Wall Street as well and can highly recommend.
Obviously for our industry there’s a much larger focus on DCFs whereas I’m virtually all other industries DCFs are the least useful valuation method. A good biotech model really just comes down to a DCF linked to a thoughtful revenue build. modeling courses won’t cover these but I would just go through a few broker revenue builds for a biotech to nail this.
Intricate Balance sheet / cash flow modeling frankly won’t be as useful to you given these aren’t asset or working capital heavy businesses but may be fun to learn anyways. LBOs would probably be fun to learn given it’s such a different type of investment than a pre revenue biotech
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