Life Sciences & Biotech
RotenbergMeril is experienced in providing audit, accounting and tax services to the industry. We have worked in many different segments of this industry including medical research and development, pharmaceutical, medical devices and laboratories. We provide our clients with sciences and biotech clients with accounting and tax issues relating to:
- Development-stage company reporting - We are experienced with working with start-ups as well as established life sciences companies. As a PCAOB registered firm, we audit publicly traded companies in the life sciences industry. We are experienced in the IPO process and we can continue our relationship with your firm as it goes from a privately held company to a publicly traded company.
- Financing arrangements - debt and equity - We are focused on guiding life sciences and biotech companies through the maze of accounting pronouncements affecting their fundraising efforts, especially in the complex areas of accounting for debt and equity transactions such as convertible debt, convertible preferred stock and issuance of warrants and PIPE transactions. We are experienced in helping clients with issues related to beneficial conversion features, embedded derivatives, stock based compensation, and the myriad of disclosures required in the financial statements.
- Research and development costs (R&D)- We are familiar with outsourced R&D and collaboration arrangements, including such issues as accounting for prepaid and accrued R&D costs, and milestone payments.
- Patents and other intangible assets - We provide industry-specific accounting for patents, goodwill and intangibles. We are aware of the issues related to capitalization, impairments, purchase price allocations and acquired in-process R&D.
- Revenue recognition and complex licensing agreements - Revenue recognition is a complex area for biotech companies, especially for licensing intellectual property. Our firm is versed in the various accounting pronouncements in this area, including SEC Staff Accounting Bulletins and FASB Emerging Issue Task Force consensuses.
We also provide consulting services to our life sciences and biotech clients by assisting in the private and public offering process, debt financing, merger and acquisition advisory work, valuation activities, and internal control guidance.