Tag Archives: Fostering Innovation Act

BIO Applauds House Passage of the Fostering Innovation Act

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The House of Representatives has overwhelmingly passed the Fostering Innovation Act (H.R. 4139), a key capital markets priority for BIO. The bipartisan legislation was introduced by Reps. Kyrsten Sinema (D-AZ) and Michael Fitzpatrick (R-PA). The JOBS Act provides emerging growth companies (EGCs) with a five-year exemption from Section 404(b) of Sarbanes-Oxley (SOX), which requires a costly external attestation of a company’s internal financial controls. The Fostering Innovation Act would extend the JOBS Act’s SOX 404(b) Read More >

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San Francisco Business Times: Two JOBS Acts are better than one

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Today, the San Francisco Business Times published an op-ed by OncoMed President and CEO Paul Hastings lauding the Jumpstart Our Business Startups Act (JOBS) Act for giving emerging biotech companies a much-needed boost. As Hastings points out, 80-plus companies will have gone public in the last two years with the help of the JOBS Act. As the biotech industry gathers in San Diego next month for the 2014 BIO International Convention, several CEOs in attendance will no Read More >

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Emerging Company Policy Deconstructed: Fostering Innovation Act (H.R. 2629)

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In a nutshell: Representative Michael Fitzpatrick (R-PA) introduced H.R. 2629, the Fostering Innovation Act, to update SEC filing status classifications for public companies and help ease regulatory burdens on emerging companies and reduce the bureaucratic hurdles and red tape that lengthen the time to bring cures from discovery to patient. Why you should care: SEC Rule 12b-2 establishes three classifications for public companies to determine their filing status, which include large accelerated filers (companies with Read More >

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