For biotech startups, a NASDAQ IPO represents a powerful opportunity to secure global R&D funding and accelerate growth.
By leveraging our knowledge of biotech-specific accounting characteristics, Nihon-bashi International Accounting Firm offers cost-efficient US GAAP preparation and comprehensive NASDAQ IPO advisory to help your company navigate the entire process with confidence.

Why Biotech Startups Choose NASDAQ

For biotech startups, raising sufficient capital to continue R&D is a constant challenge.
NASDAQ has long been recognized as a market where research and development–focused companies, including pre-revenue biotech firms, can secure substantial funding based on growth potential rather than current profitability.

Key advantages include:

Access to global capital –
 NASDAQ provides one of the world’s most liquid markets, enabling biotech startups to raise funds even before product commercialization.

Established valuation framework –
With many biotech peers already listed, valuation benchmarks and investor expectations are well understood.

Enhanced credibility –
A NASDAQ listing enhances corporate reputation, supporting global partnerships, licensing deals, and research collaborations.

Accounting Considerations for Biotech Startups

Compared with companies in commercial phases, early-stage biotech startups face relatively simple accounting requirements. This translates into a more efficient and cost-effective IPO preparation process.

Fewer revenue recognition issues –
Most biotech startups are in the clinical development stage, with limited or no product sales, reducing the complexity of revenue-related accounting.

Lower impact of fixed assets –
 Capital-intensive manufacturing facilities are usually not yet in place, so accounting for property, plant, and equipment is limited.

Cost-efficient US GAAP preparation –
With fewer complex transactions, the cost of preparing US GAAP financial statements and undergoing PCAOB audits can be significantly lower than in other industries.

Our Services for Biotech Startups

At Nihon-bashi International Accounting Firm, we have deep expertise in US GAAP, IFRS, and cross-border advisory.
For biotech startups considering a NASDAQ IPO, we provide end-to-end support tailored to the sector’s unique characteristics:

US GAAP Financial Statement Preparation –
We help design and prepare efficient US GAAP-compliant financials suited to the straightforward accounting structure of biotech startups.

Audit Coordination with PCAOB-Registered Firms –
We act as a liaison with PCAOB auditors, streamlining communication and ensuring smooth audit readiness.

IPO Process Consulting –
From IPO timeline planning to drafting SEC filings (e.g., Form F-1), we provide practical advice based on experience with cross-border listings.

Tax and Cross-Border Structuring –
We support related matters such as establishing Japanese subsidiaries, handling licensing income, and addressing international tax implications.

（Overseas listing services）

Services

Summary

Accounting and Disclosure Support

 We provide hands-on support to prepare financial statements and disclosure materials based on IFRS and US-GAAP.

Prepare necessary bylaws and manuals

 According to company’s situation, we prepare bylaws and manuals which can endure review procedures performed by SEC.

Establishment of internal control

 By visualizing business processes, we contribute to the establishment of internal controls which endure the external review and statutory audits. We also provide support service for US-SOX.
Prepare filing documents With expertise and practical experience, we will support the preparation of the prospectus.
Deal with review procedures performed by SEC Business operations and management systems shall be reviewed by book-runner company and stock exchange committee, etc. Staff members of CPA support your company with enough experience in handling listing review procedures on overseas stock exchanges.

Eligible companies

・Aiming for an overseas listing to secure funding quickly.
・Considering an overseas IPO, which requires preparing IFRS- or US GAAP-based financial statements.
・Lacking sufficient internal resources to handle IPO-related procedures in English.
・Unable to prepare financial statements under foreign accounting standards due to the absence of knowledgeable accounting staff in-house.
・Seeking to understand what issues arise when converting to US GAAP.
・Struggling to cope with the high fees demanded by audit firms and other professionals.
・Instructed to prepare US GAAP financial statements but uncertain where to begin.

● Please click here for detailed information regarding our service fees.