Your question is Walkthrough: Revenue Build / NPV Model. Take a moment with it on the right.
Talk me through your thinking if you like. When you're confident, submit your answer and I'll grade it like a real screen (7/10 or better passes).
How would you walk an analyst through a revenue build / NPV model for biotech?
This is a specialty-focused modeling question framed around explaining the structure and logic to an analyst. Walk through the revenue build, operating assumptions, probability adjustment, free cash flow, discounting, and sensitivity analysis. Explain how you would audit the model for circularity, timing errors, inconsistent probabilities, and incorrect treatment of development costs.