BIO Applauds Inclusion of Pro-Growth Provisions in Tax and Oversight Legislation

This week, the House of Representatives plans to take up a tax and oversight package (H.R. 88) which includes a provision that would protect investments in start-ups from inadvertently triggering the net operating loss (NOL) limitations under Section 382 of the tax code. R&D-intensive biotech start-ups frequently accumulate substantial NOLs in their early, pre-revenue years, given their typical reliance on investor capital for more than a decade before realizing any product revenue.