Mastering Earnings Season: How Biotechnology Companies Can Prepare for Quarterly Results

Building a Step-by-Step Earnings Process

Quarterly Earnings

In biotechnology, earnings season is a high-stakes opportunity to shape investor confidence and reinforce your company’s credibility. For publicly traded biotech companies, quarterly earnings calls are not just about numbers; they are about telling a story that blends financial discipline, clinical progress, and strategic vision. Yet far too often, earnings preparation is rushed, chaotic, or left until the last minute.

Having worked on both sides, both inside biotech companies and as a communications consultant, I have seen what happens when preparation is inadequate, and I have also seen the benefits of a disciplined, structured process. The difference shows up immediately in the tone of the call, the confidence of management, and the reactions from analysts and investors.

With Q2 earnings now behind us, now is the perfect time to reflect. What went smoothly? What caused stress? What could you improve before Q3? Below are some best practices to help biotechnology companies prepare for quarterly earnings with less anxiety and more impact.

Why Preparation Matters for Biotech Earnings Calls

Biotechnology companies face unique challenges during earnings season. Unlike mature commercial companies, many biotechs are still clinical-stage or early in commercialization. That means quarterly results are often scrutinized less for top-line revenue and more for pipeline progress, clinical trial milestones, cash runway, and strategic partnerships.

Investors and analysts are looking for clarity and confidence. They want to understand not just what happened this quarter, but how the company is positioned for the future. A poorly organized earnings process can distract from your message and leave analysts with more questions than answers. By contrast, a well-executed earnings call can build trust and strengthen relationships with investors who will be with you for the long haul.

Building an Earnings Preparation Process

A successful earnings cycle requires careful planning, collaboration, and project management. Here are the critical steps to consider:

1. Start Early: Two to Three Weeks Out

Do not wait until the press release draft is due to begin preparing. Set up a series of planning meetings at least two to three weeks ahead of earnings day. This ensures enough time to gather input from all stakeholders, address potential issues, and align on messaging.

Legal counsel or disclosure committee members should be included in these discussions. Having legal in the room early can prevent last-minute debates over language or disclosure obligations.

2. Assign Clear Ownership

Someone needs to own the process. This is often the Head of Investor Relations, but for smaller teams it may fall to an external consultant or project manager. This person is responsible for tracking deadlines, consolidating edits, and keeping the process on schedule.

One best practice is to have a single “document owner” for the press release, script, and Q&A preparation. This avoids version-control headaches and ensures edits are streamlined.

3. Prepare the Core Materials

Every earnings cycle requires a set of deliverables. For biotech companies, this usually includes:

• Press release: announcing quarterly results and highlighting key pipeline or commercial updates

• Earnings call script: including prepared remarks from executives

• Slides (if used): to visually support key points

• Logistics: distribution lists, wire service coordination, webcast or conference call setup

  
  

Do not underestimate the time required to finalize these items. Rushed edits the night before earnings can create unnecessary stress.

4. Anticipate Q&A With Mock Sessions

Preparing for Q&A is where many biotech companies fall short. Analysts often ask tough questions about clinical data, timelines, or cash runway. The best way to prepare is through role play.

• Gather the leadership team and simulate an analyst Q&A session

• Use real questions from past calls and investor meetings

• Anticipate challenging scenarios, especially if guidance has changed or delays occurred

• Practice clear, concise answers that are consistent with prior messaging

  
  

The goal is not to script responses but to ensure executives are comfortable, aligned, and ready to think on their feet.

5. Reach Out to Key Investors Ahead of Time

A proactive investor relations strategy goes beyond the earnings call itself. Key investors should be personally contacted the week before earnings to ensure they are aware of the date and time. Covering analysts should also be emailed the press release the moment it crosses the wire. These small touches show professionalism and strengthen relationships.

6. Leverage Corporate Communications

Do not forget to coordinate with your corporate communications team. The earnings release and webcast link should be posted promptly on the company website and shared on social media. Highlighting top takeaways on platforms like LinkedIn or X can extend your reach and ensure investors who missed the live call can access the key points quickly.

Reducing Stress With Pre-Recorded Calls

One option that more companies are using is pre-recording the prepared remarks portion of the call. This reduces the pressure of speaking live on earnings day and ensures the core script is delivered smoothly. The Q&A portion remains live, but executives enter the call more relaxed and focused.

Pre-recording does not require fancy equipment. In fact, each speaker can record their section on a phone, and the segments can then be edited together and delivered as a single file to the webcast host. For companies with lean teams, this can be a game-changer.

After the Call: Follow-Up Matters

The work does not end when the call concludes. Analysts and top investors may want follow-up calls with management to clarify details or discuss outlooks. Investor relations should schedule these quickly to keep the momentum going.

At the same time, social media and website updates should highlight key messages and provide easy access to the call replay. A coordinated post-call strategy reinforces your story and ensures your audience stays engaged.

Elevating Your Earnings Strategy

Earnings preparation does not have to be stressful. With structure, clear ownership, and enough lead time, your biotech company can turn quarterly earnings into a showcase of professionalism and strategy. Whether your team has an in-house IR lead, works with external agencies, or brings in a consultant, the key is consistency and discipline.

Quarterly earnings are more than a compliance exercise—they are an opportunity to build trust, shape perceptions, and position your company for long-term success.

If your team could benefit from extra support preparing for earnings season, I can help. I work directly with management teams to build a disciplined preparation process that ensures everyone is confident, aligned, and ready to deliver with impact.

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