Staff Accountant

Initial Therapeutics, Inc.; New York (NY); On-site; USD 80,000 - 95,000; Full time

Job summary

A tech-driven pharma company is looking for a detail-oriented Staff Accountant. This role involves supporting month-end close processes and operational excellence in core accounting areas. Ideal for those with early-career experience in biotech accounting, this position offers growth opportunities and a collaborative environment in New York City.

Benefits

Equity

Comprehensive benefits

Generous perks

Hybrid flexibility

Qualifications

• 1-3 years of accounting experience (public or in-house); biotech experience a plus.
• Familiar with AI tools in accounting (e.g., automated reconciliations).
• Proficient in ERP systems like NetSuite.

Responsibilities

• Manage accounts payable process end-to-end, ensuring coding accuracy.
• Perform monthly bank reconciliations and support balance sheet reconciliations.
• Collaborate closely with Senior Accountant to support month-end close activities.

Skills

Accounting

GAAP fundamentals

Detail-oriented

Education

Bachelor’s degree in Accounting, Finance, or related field

Tools

Microsoft Excel

NetSuite

Job description

About Formation Bio

Formation Bio is a tech and AI driven pharma company differentiated by radically more efficient drug development.

Advancements in AI and drug discovery are creating more candidate drugs than the industry can progress because of the high cost and time of clinical trials. Recognizing that this development bottleneck may ultimately limit the number of new medicines that can reach patients, Formation Bio, founded in 2016 as TrialSpark Inc., has built technology platforms, processes, and capabilities to accelerate all aspects of drug development and clinical trials. Formation Bio partners, acquires, or in-licenses drugs from pharma companies, research organizations, and biotechs to develop programs past clinical proof of concept and beyond, ultimately helping to bring new medicines to patients. The company is backed by investors across pharma and tech, including a16z, Sequoia, Sanofi, Thrive Capital, Sam Altman, John Doerr, Spark Capital, SV Angel Growth, and others.

You can read more at the following links:

• Our Vision for AI in Pharma
• Our Current Drug Portfolio
• Our Technology & Platform

At Formation Bio, our values are the driving force behind our mission to revolutionize the pharma industry. Every team and individual at the company shares these same values, and every team and individual plays a key part in our mission to bring new treatments to patients faster and more efficiently.

About the role

We are looking for a detail-oriented and proactive Staff Accountant to join our growing team. You’ll be an integral member of a lean but high-performing Accounting team, responsible for supporting the month-end close and ensuring operational excellence in core accounting areas. This role is ideal for someone with early-career experience in public or in-house biotech accounting who is eager to roll up their sleeves, work collaboratively, and grow with a fast-moving company.

Responsibilities

• Manage the accounts payable process end-to-end within Zip, including ensuring coding accuracy, proper PO matching, and compliance with internal controls
• Administer Navan for travel and expense reporting, including employee reimbursements, system configurations, user onboarding/training, and coordination with internal stakeholders
• Perform monthly bank reconciliations and support other balance sheet reconciliations
• Prepare and book accruals and help maintain data integrity across our P&L
• Track and maintain fixed assets and deferred rent schedules
• Assist in preparing department-level reporting
• Collaborate closely with the Senior Accountant to support month-end close activities
• Help ensure accuracy and completeness of financial data in NetSuite and FloQast
• Support ad hoc projects and automation initiatives that enhance reporting or streamline operations
• Maintain and improve financial data hygiene and coding consistency

About You

• 1-3 years of accounting experience (public or in-house); biotech experience a plus
• Bachelor’s degree in Accounting, Finance, or related field
• Comfortable working in a startup environment where systems, processes, and roles evolve
• Familiar with or curious about AI tools in accounting (e.g., automated reconciliations, ChatGPT, etc.)
• Proficient in Microsoft Excel and experienced with ERP systems like NetSuite
• Highly organized, detail-oriented, and eager to take ownership
• Strong understanding of GAAP fundamentals and how the financial statements interact
• Team player with a strong sense of accountability and a bias for action

This role is based in our New York City office. Please only apply if you reside in a commutable distance or are willing to relocate.

Compensation:

The target salary range for this role is: $80,000 - $95,000.

Salary ranges are informed by a number of factors including geographic location. The range provided includes base salary only. In addition to base salary, we offer equity, comprehensive benefits, generous perks, hybrid flexibility, and more. If this range doesn't match your expectations, please still apply because we may have something else for you.

You will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.

#LI-hybrid