Celebrating 25 Years of Excellence
Life Sciences Industry

Finance that keeps pace with science.

CFGI is a leading life sciences non-audit accounting advisory firm with a track record of serving hundreds of clients and local leadership in biotech hubs including Boston, San Francisco, San Diego, and the tri-state area. We help CFOs navigate complex accounting, reporting, controls, systems, and transaction needs from discovery through commercialization.

Explore life sciences solutions See case studies
Industry landscape

Life sciences companies face finance pressure at every stage of the lifecycle.

Biotech, pharma, medical device, and emerging life sciences companies operate across long development cycles, complex financing paths, evolving accounting judgments, and high-stakes reporting milestones. The Office of the CFO has to support scientific progress while keeping accounting, finance, controls, systems, and investor expectations moving together.

```
01

Discovery to commercial launch

Finance teams need support that scales from discovery, pre-clinical, and clinical stages through launch, revenue, inventory, and gross-to-net accounting.

02

Financing and public readiness

Life sciences companies often move through Series A-F financings, IPOs, ATMs, PIPE financings, strategic alliances, and post-IPO reporting demands.

03

Complex accounting judgments

Debt and equity instruments, collaboration and licensing arrangements, stock-based compensation, leases, and revenue recognition all require technical precision.

04

Lean finance organizations

Many CFOs are managing skeleton accounting teams while also preparing for audits, SEC deadlines, systems changes, and growth-stage operational needs.

```
How CFGI helps

Support for the Office of the CFO across the life sciences lifecycle.

CFGI partners with CFOs and cross-functional teams across research, clinical development, CMC and technical development, regulatory, medical affairs, supply chain, and commercial functions. The work is practical: accounting and reporting execution, process improvement, data and analytics, program management, operating model support, and interim finance resources.

```

Discovery & Start-Up

Recurring monthly or quarterly close support, audit readiness, technical accounting memos, tax compliance, and early finance function support.

Scale & Expansion

Process optimization, transformation, system implementation, FP&A, clinical accrual analysis, and data and analytics support.

IPO & Public Company Readiness

IPO readiness, Form S-1/F-1 support, SEC reporting, public-company processes, internal controls, and SOX compliance.

Commercial Launch

Revenue and inventory assessments, revenue policies, gross-to-net implications, operational accounting, and finance process design.

Transactions & Strategic Events

Acquisitions, divestitures, reverse mergers, SPAC readiness, valuation, transaction advisory, and post-merger integration support.

Technical Accounting & SEC Reporting

  • Debt and equity accounting
  • Collaboration and licensing arrangements
  • Stock-based compensation
  • Revenue recognition and leases
  • Financial statement preparation

Capital Markets & IPO Readiness

  • IPO readiness and support
  • S-1 and F-1 financial sections
  • SEC comment response support
  • Reg. S-X financial statements
  • Public-company compliance readiness

Operations, FP&A & Data

  • Monthly close support
  • Management accounting
  • FP&A, planning, and budgeting
  • Clinical accrual analysis
  • Data and analytics

Controls, Tax & Valuation

  • SOX readiness and compliance
  • Control deficiency remediation
  • Tax provision and return preparation
  • R&D tax credit analysis
  • 409A and impairment valuations
```
Why CFGI in Life Sciences

Built for CFOs who need specialized execution, not generic advisory.

CFGI brings life sciences accounting experience, public-company readiness support, and cross-functional execution to companies moving from early-stage science to financing, scale, and commercialization.

```

An extension of your team from discovery to launch.

  • Life sciences focusSupport for biotechnology, medical device, pharma, and emerging life sciences companies across maturity stages.
  • Technical depthExpertise across revenue recognition, collaboration arrangements, debt and equity financings, stock compensation, leases, and SEC reporting.
  • Flexible deliverySupport for critical projects, recurring engagement needs, and interim roles when finance teams need experienced capacity.
  • No audit restrictionsIndependent support that can help CFOs solve problems without auditor independence constraints.
```
Key industry challenges we solve

Practical help for the finance and accounting work that cannot wait.

```

Skeleton accounting departments

Many life sciences CFOs are asked to maintain high-quality financial operations with lean teams. CFGI provides embedded support for close, reporting, audit readiness, interim roles, and ongoing accounting operations.

Complex contract and accounting reviews

CFGI helps evaluate significant contracts and accounting judgments, including collaboration and licensing arrangements, debt and equity transactions, warrants, embedded features, and stock-based compensation.

IPO readiness and SEC reporting pressure

CFGI supports technical memos, Reg. S-X financial statements, S-1/F-1 drafting, SEC comment responses, pro forma disclosures, public-company controls, and post-IPO reporting needs.

Systems, processes, and controls at scale

As companies grow, finance processes often need to mature quickly. CFGI supports process optimization, systems implementation, SOX readiness, control design, and operating model improvement.

Commercial launch complexity

Revenue, inventory, gross-to-net accounting, supply chain activity, and reporting processes all become more complex as companies approach or enter commercialization.

```
Client impact

Life sciences engagements with measurable outcomes.

IPO Clinical-stage biotech successfully completed its initial public offering with CFGI support across audit preparation, S-1 drafting, SEC comments, and pro forma disclosures.
10 weeks Foreign medical diagnostic company completed GAAP and currency conversion work, U.S. GAAP audits, and initial confidential Form S-1 submission.
No comments Reverse acquisition Form S-4 was declared effective with no comments from the SEC, and the merger completed as planned.
Timely audit 409A and ASC 350 valuation support helped a privately held biotech issue options after a down-round and complete its audit efficiently.
Case studies

Life sciences work, told in full.

```
Case Study

Initial Public Offering of a Clinical-Stage Biotech

Biotech company with a Phase II clinical trial asset

Scenario

A clinical-stage biotechnology company engaged CFGI to assist with audit preparation and Form S-1 preparation in connection with its initial public offering.

Action taken

CFGI documented technical memos and position papers for significant accounting matters and judgments, converted private-company financial statements to Reg. S-X compliant financial statements, participated in drafting sessions, drafted financial sections of the Form S-1, prepared SEC comment responses, updated S-1 financial sections, prepared pro forma disclosures, and assisted with FWP and Form 424B4 preparation.

Outcomes

  • The company successfully completed its initial public offering.
  • CFGI continued supporting SEC reporting, internal controls work, and other ad hoc projects.
  • The finance team had technical accounting and reporting support through a critical capital markets milestone.
Case Study

IPO of a Foreign Medical Diagnostic Company

$100MM foreign medical diagnostic company

Scenario

A foreign medical diagnostic company initiated an IPO on domestic Form S-1 and needed to convert its accounting basis from UK GAAP to U.S. GAAP and its reporting currency from Pounds Sterling to U.S. Dollars.

Action taken

CFGI evaluated historical UK GAAP financial statements, identified U.S. GAAP differences, prepared technical memos and adjusting journal entries, converted more than five years of financial statements to U.S. GAAP and U.S. Dollar presentation, built a consolidation model, supported U.S. GAAP audits, drafted financial sections of the Form S-1, prepared SEC comment responses, and updated financial sections and pro forma disclosures.

Outcomes

  • GAAP and currency conversion work, U.S. GAAP audits, and initial confidential Form S-1 submission were completed in 10 weeks.
  • The company successfully completed its initial public offering.
  • CFGI continued supporting internal controls, SEC reporting, stock-based compensation, and system implementation efforts.
Case Study

Reverse Acquisition Between Private Company and Public Registrant

Clinical-stage biotechnology and pharmaceutical companies

Scenario

A privately held clinical-stage biotechnology company entered into a merger agreement with a publicly traded clinical-stage pharmaceutical company and needed help with audit preparation, accounting, and reporting obligations.

Action taken

CFGI supported audit requests and comments, documented technical memos and position papers for significant accounting matters, converted private-company financial statements to Reg. S-X compliant financial statements, drafted the Form S-4 financial sections, prepared pro forma financial statements, drafted the required Form 8-K following the merger, and drafted the company’s post-merger Form 10-Q.

Outcomes

  • The Form S-4 was declared effective with no comments from the SEC.
  • The merger completed as planned.
  • CFGI continued supporting the company’s financial close, accounting, and reporting post-merger.
Case Study

IRC 409A and ASC 350 Impairment Testing

Privately held biotechnology company

Scenario

A privately held biotechnology company completed a down-round financing, creating a need to re-price and grant new employee options and evaluate goodwill and indefinite-lived intangible assets for potential impairment.

Action taken

CFGI consulted with management on the rationale for the financing round, performed valuation analyses using discounted cash flow and market approaches, considered value indications from the down-round, concluded on fair value of total equity for ASC 350 impairment testing, allocated preferred stock, common stock, warrants, and options to determine common stock value for IRC 409A purposes, prepared narrative valuation reports, and supported auditor questions.

Outcomes

  • The company issued common stock options quickly after the down-round financing.
  • The audit was completed in a timely and efficient manner.
  • CFGI continued supporting the company’s valuation needs.
```
Selected clients

Trusted by life sciences companies moving through growth, financing, and commercialization.

atai Life Sciences logo
Ginkgo Bioworks logo
Black Diamond Therapeutics logo
Third Harmonic Bio logo
Industry contacts

Life sciences leadership.

Partner with CFGI to navigate the accounting, finance, reporting, controls, and transaction needs that shape the life sciences lifecycle.

```
```

Ready to move your life sciences finance function forward?

Let’s talk about the finance, accounting, reporting, controls, systems, and transaction work your team needs to execute next.

Start a conversation →