The business
A clinical-stage biotech with no approved product, living on one pharmaceutical partnership and repeated capital raises. Two programs read out — one advances to phase 3 and triggers a milestone, one is discontinued. What is left is a question about runway.
One workbook. A complete model, already built and locked, and 28 multiple-choice questions about what it shows.
Inside the file
- Instructions
- What you are looking at, how the questions work, how it is marked.
- Financials
- The finished model, locked. This is what you review.
- Questions
- One letter per question, A to D.
- Scoring
- Your score, with each answer explained back to the line that gave it away.
Type a letter, A to D, against each question. A toggle stays on N while you work, so you answer blind. Flip it to Y and each answer turns green or red, with the reasoning pointing back at the line that gave it away. A blank answer scores zero.