Glossary · Finance operations
Board reporting package
The monthly or quarterly financial view a biotech board actually needs, which is shorter than most companies produce.
A useful package fits on a few pages: cash and investments with the runway to the month, actual versus budget for R&D by program and for G&A, the burn bridge from net loss to cash, headcount against plan, upcoming milestones with their financial implications, and a rolling twelve-month cash forecast. Full financial statements go in the appendix.
The package is produced from the closed books, which means it depends on the month-end close, and it is consistent from period to period so that trends are visible. Non-GAAP adjustments, if used, are reconciled to GAAP on the same page.
Boards use the package to decide when to raise, when to cut, and whether to trust the finance function. The finance team uses the process of producing it to catch the problems before the board does.
General explanation, not accounting, tax, or legal advice for any specific company. Standards and tax law change; the entry reflects my understanding as of September 2026.