This webinar will present a case study of an early-stage biopharmaceutical (“BioPharma”) company that requires an IRC 409A valuation in connection with the grant of nonqualified stock options to its officers. The webinar will discuss the various valuation methodologies and that the income approach, using a probability-weighted discount cash flow (PWDCF) model, is the most appropriate given the facts and circumstances. The primary focus will be on how to address and incorporate the inherent significant uncertainty into the NPV model for an early-stage BioPharma that historically has incurred negative cash flows and does not project positive cash flows for the foreseeable future. Participants should attend this webinar to learn that resources are available that provide guidance to the valuation specialist on levels of uncertainties for early-stage companies based on the stage of development.