Can I eventually work at a biotech analyst?
Hi I have a B.S. in Neuroscience and M.S. in Statistics both from UCLA. I currently work as a data analyst.
I have an ability to peruse scientific articles and clinical trials with ease. Anything I don't know, I can easily research and learn quickly. I can also scrutinize the statistical methods used in any research or clinical trial.
How do I demonstrate this knowledge to a hedge fund?
What should I specifically learn and do to get a job at a hedge fund? My idea is to learn everything about stocks that I can + refine my medical knowledge over the next few years. Also, I would start develop a portfolio of newer biotech stocks and my assessment of their drugs.
I never knew that this career option existed, and I feel like it's something I can perfectly transition into down the line. I know that I don't have a PhD/MD so maybe HFs would be wary of my knowledge + I didn't go to a target school + no IB experience beforehand, but damn this would be a dream career for me.
Thanks.
If you network aggressively I'm sure you can get an interview somewhere. The biggest issue is that you have no financial modeling experience, and they will ask why you think you can cut it. I think you need something solid to point to, like CFA level 1, to lean on when they ask you. Maybe that you've gone through Wall Street Prep type courses as well, and having some pitches ready is wise.
Honestly you don't need a CFA for biotech buy-side (or sell-side). Intricate financial modeling skills are a great bonus but aren't really needed in entry-level unless you're covering large-cap pharma, generics, or maybe some spec pharma names. Figure out the basics of how the three statements link together, how to build a DCF model, SOTP analysis, and use multiples to help you value companies or find comparable companies. 90% of most biotech financials can be summed up by their cash position, burn rate, and accurately predicting time to market and peak sales.
The main value-add in biotech buy-side analysis comes from predicting the outcomes of the clinical trials, knowing the (very complicated) payer/PBM/provider landscape, and analyzing the addressable market/figuring out where the company asset will fit in the current (and future) treatment paradigm.
I personally think statistical analysis (REAL statistical analysis that is based on sound theory) that can identify trends or (sometimes more importantly), validate (or reject) assumptions being made, and can help determine the functional limitations of the data at hand is a HIGHLY underutilized skill in the industry in general that I think would be a large value-add to any smid-cap biotech fund. While all funds that I know of have statisticians they consult or employ full-time, I've found that to really extract their potential value, the investment team member needs to have some understanding of statistics themselves. It's hard to get the right answers from the statistician if you don't know the right questions to ask or don't understand the limitations of the analysis that they turn back to you.
Source: I do biotech research and spec pharma on the sell-side and my SO works at a buy-side biotech fund, PM me if you have specific questions.
I am a doctor and I have not experienced because I have got my degree a few days ago. I have studied in Pakistan and I want to practice it in USA, how can I do it? My friend who provided me Assignment Writing Services UK when I was in university told me that I have to clear the USMLE steps, is he right?
YES, you can still UPEND and DISRUPT the BIOTECH industry. Good luck kid!
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