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CFO of Pure Bioscience Discusses Challenges Facing Biotech CFOs

CFO of Pure Bioscience Discusses Challenges Facing Biotech CFOs

In a recent interview with IDG News, Pure Bioscience chief financial officer Craig Johnson noted there are a number of significant challenges facing the biotechnology industry heading into 2012.

According to Johnson, who has held the title of CFO in the tech industry in San Diego since 1994, financing is the most difficult challenge the industry is encountering.

"We don't have product revenue, so it's explaining what we'll do with money, what we'll develop, and taking it to the next step," Johnson explained. "It's creating value with that money and maybe going out and getting more money. The last few years, trying to extract money from people is not the easiest thing in the world."

Johnson added that focusing on only a few specific projects and allocating resources appropriately were two other hurdles his company needs to overcome, noting "you can't be involved in a million projects."

Pure Bioscience, a small company with only 25 employees, recently reported that its first-quarter revenue increased to $257,000 from $23,000 the year before, according to a release.