Equity Research Associate - Biotechnology

Role overview

Jefferies is looking for an equity research associate to support a senior biotechnology analyst focused on small- and mid-cap biotech companies. This is a full-time, on-site position based in San Francisco, CA.

What you’ll do

• Help drive research coverage for the biotech sector with a strong goal of building a top-ranked franchise.
• Perform original research on drug pipelines by reviewing scientific publications, attending medical meetings, and speaking with industry specialists.
• Draft research materials for new coverage launches, deep-dive analyses, competitive assessments, and updates on company or industry developments.
• Track intellectual property issues and monitor patent disputes involving pharmaceutical products.
• Develop, update, and maintain financial models and presentation decks.
• Generate and carry out differentiated research ideas and project concepts.
• Work closely with company leadership, internal sales and trading teams, and institutional clients.

What we’re looking for

• Strong long-term motivation to grow within sell-side equity research.
• Self-driven, detail-oriented, and collaborative working style.
• Excellent analytical ability, especially when interpreting preclinical and clinical data.
• Helpful background in drug development and the FDA approval pathway for medicines.
• At least 1 year of experience in healthcare investment research, such as sell-side, buy-side, or investment banking.
• Strong written and verbal communication skills.
• Ability to type more than 120 words per minute.
• Hands-on experience creating high-quality sell-side reports, PowerPoint presentations, and advanced financial models, including three-statement models, DCFs, and market models.
• Excel-based financial modeling experience is an advantage.

About the team

The senior analyst on this coverage has more than 13 years of equity research experience and currently covers small- to mid-cap biotechnology companies. He joined Jefferies in May 2017 and became a covering analyst in early 2019. Before that, he worked in biotechnology and software equity research at Wells Fargo, RBC Capital Markets, and Wedbush Securities. He holds a BA in Environmental Engineering from UC Irvine and an MS in Civil & Environmental Engineering from Stanford University.

About Jefferies

Jefferies is a global, full-service investment banking and capital markets firm offering advisory, sales and trading, research, and wealth and asset management solutions. With more than 40 offices worldwide, the firm serves investors, companies, and governments with insight and expertise.

Equality and accommodation

Jefferies is committed to a workplace where all employees have opportunity regardless of differences and where the workforce reflects the communities in which the firm operates. Hiring decisions are based on qualifications and comply with applicable federal, state, and local equal employment opportunity laws. Reasonable accommodation is available for individuals with disabilities as required by law.

Compensation and benefits

The base salary range for this role in the primary location is $100,000 to $120,000 per year. Pay will depend on experience and qualifications. Eligible full-time employees, and part-time employees scheduled for at least 30 hours per week, may receive a comprehensive benefits package that includes an annual discretionary incentive and retention bonus, medical, dental, and vision insurance, 401(k), life insurance, accident insurance, disability insurance, wellness programs, paid time off, sick leave, paid holidays, and paid parental leave for full-time staff.