Everybody in biopharma understands the importance of data, but how good data lands and influences is shaped by strategic communications.
Every company we work with is trying to create value for their stakeholders, and all of them are competing for attention. This is the marketplace in which we operate and companies recognize this, often coming to us seeking a specific outcome—meetings with investors, support on financing, media coverage around an isolated milestone, etc. We prefer to reframe the ask: "How can a strategic program, run correctly, deliver not only these results but also long- term value and differentiation?"
At its core, believing this requires embracing two foundational concepts: (1) storytelling matters, and (2) no matter the audience, you are building relationships. And one feeds the other.
Of course, a compelling narrative is an important driver of capital access and media exposure. The first hurdle is earning attention: investors won't invest unless it's investable and reporters won't cover unless it's
newsworthy, and storytelling is how we can convince them of an opportunity’s value.
But, much like drug development, value creation is a long game. How companies communicate over time reflects their investment in building the relationships that will propel them forward, whether with investors, media or otherwise. Much like any other long-term relationship, these audiences value trust-building behaviors – transparency, credibility, consistency, etc. – and respond best to care and feeding, not transactional engagement.
Value creation, therefore, requires strategic communications, telling the right story, to the right audience, at the right time, to make every touchpoint count.
A strong narrative is more than a summary of progress; it’s a strategic framework that helps stakeholders understand how a company will succeed and why it matters now.
The most effective communicators start with a long-term vision. They understand that investors buy into the future. In biopharma, value messaging comes down to two questions at the core of every investment decision: will the drug work, and will the drug sell? The answers should clearly express the unmet need, scientific differentiation, and plan to execute.
But clarity is just one piece; urgency matters, too. Competing for limited attention in a crowded field, companies must continually make the “why now” argument. Recent or near-term catalysts, like data readouts, regulatory milestones, or other catalysts that tie directly to their long-term goals, help connect today’s activity to tomorrow’s value.
Ultimately, the narrative must instill confidence. Stakeholders want to see that the company has the strategy, competitive advantage, team, and resources in place to deliver. Every announcement, disclosure, and set of materials is an opportunity to reinforce that belief and build conviction in the path forward.
A strong value story only works if it reaches the people who matter and lands in a way that moves them.
In Investor Relations (IR), varying investor audiences may evaluate the same story through different lenses. For example, growth investors are looking for long-term potential while value investors want to see underappreciated assets. Although their models share inputs, the assumptions and strategies can vary. An effective investment thesis should speak to each of them, offering a clear picture of the opportunity and upside that allows every investor to glean the inputs necessary to inspire action.
The same principle applies to media. Different outlets and journalists have a unique focus and style. What drives engagement at a financial publication won’t look the same as what resonates with a science or healthcare reporter. The strongest Public Relations (PR) strategies take a single, coherent story and tailor it to fit multiple angles, helping every journalist see why it matters now and why their audience should care.
This underscores how different audiences evaluate opportunity and the importance of delivering the information they need to make that judgment with confidence. Core messaging should remain consistent, but delivery should be tailored to each channel and audience.
Strategic communications spotlight the critical elements of the story at the right time, but this isn’t only relevant around key disclosures. Long in advance of any milestone, it begins by laying groundwork that primes stakeholders and builds belief in the company’s value proposition.
The best companies achieve this by following a simple playbook.
Set a high trust baseline. Set goals, issue guidance the company can deliver on, and execute. On repeat.
Focus attention purposefully. To maximize impact, guidance and disclosures should ladder up to key strategic themes – i.e., pipeline expansion, commercial readiness, etc. – with each rooted in and reinforcing the company's long-term strategy and opportunity. Rotating between these themes, and zooming into each as it becomes relevant to newsflow, allows companies to stay prescient at all times. Even when companies don’t have a binary catalyst around the corner, there is always some timely value message worth highlighting.
As major milestones approach, build momentum into the announcement. Set expectations, clarifying success benchmarks and data parameters in advance, so stakeholders understand what success looks like and why it matters. This preparation drives engagement, generates excitement, and offers the right lens to make important developments more impactful.
Unveil newsflow strategically. Disclosing major updates within this same framework can allow audiences to interpret announcements in real time. The best teams reinforce key messages through supporting materials and create opportunities for leadership to connect directly with stakeholders, including sell-side analysts and media which can help amplify to a broader audience.
Great data may be the foundation, just as strong science and smart execution are essential, but they aren't enough on their own. Companies must articulate why their strategy matters, how their work is differentiated, and where value will come from.
That story must be deliberate, consistent, and visible to every audience and across every channel.
The companies that break through invest early in strategic communications. They obsess over their message, and align every communication to the long-term vision; they build relationships with key stakeholders; they condition the market to understand the path ahead, and deliver with purpose.
When done well, this builds trust, fosters conviction, and creates momentum that carries through even the most complex markets. In a world where capital is selective and attention is scarce, strategic communications can turn opportunity into action and translate progress into enduring value.
Are you looking to align your story across stakeholders, from investors to media to patients? We help biotech teams communicate with clarity. Let's talk.