iGEM 2.0—refoundations for engineering biology

volume 32 NumBeR 5 mAy 2014 nature biotechnology that, absent a duty to disclose, no disclosure is required. The periodic disclosure requirements—such as Form 10-Ks, Form 10-Qs and proxy statements, as well as the Form 8-K mandating current reporting obligations of material events—impose limits on that premise, while still providing meaningful protection to companies in many circumstances. Weakening that approach or mandating that companies report new developments more quickly than currently required would place additional burdens on companies to increase staff for this disclosure framework and could result in liability in more situations than is already the case. Many factors have contributed to our current state of US public company disclosure. The SEC’s current efforts to consider disclosure reform that could reduce the burdens of that disclosure are welcome. Biotech companies and BIO have an opportunity to contribute to the success of that effort and to help shape the reforms in ways that particularly benefit biotech companies and their investors. This is an opportunity to make their voices heard and help shape their disclosure destiny.