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Coherus BioSciences Inc
NASDAQ:CHRS

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Coherus BioSciences Inc
NASDAQ:CHRS
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Price: 1.77 USD 3.51% Market Closed
Market Cap: $265.3m

Coherus BioSciences Inc
Investor Relations

Coherus BioSciences, Inc. is a commercial-stage biopharmaceutical company, which engages in the development and commercialization of biosimilar therapeutics. The company is headquartered in Redwood City, California and currently employs 332 full-time employees. The company went IPO on 2014-11-06. The firm is focused on the research, development and commercialization of immunotherapies to treat cancer. The company operates in the business of developing and commercializing the human pharmaceutical products segment. The Company’s product pipeline comprises three product candidates, toripalimab, an anti-PD-1 antibody being developed in collaboration with Junshi Biosciences Co., Ltd., CIMERLI, a Lucentis biosimilar candidate in-licensed for commercial rights in the United States and Canada from Bioeq, and a bevacizumab (Avastin) biosimilar in-licensed for commercial rights in the United States from Innovent Biologics (Suzhou) Co., Ltd. The company is also developing an internal immuno-oncology pipeline in preclinical and translational science, bioinformatics, analytical characterization, process science engineering, and clinical-regulatory development and commercialization.

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Mar 9, 2026
AI Summary
Q4 2025

Revenue: LOQTORZI net revenue was $40.8 million for full year 2025, up 113% vs. $19.1 million in 2024; Q4 net revenue was $12.4 million (up 11% sequentially).

Commercial traction: Management expects 10%–15% average quarter-over-quarter demand growth and targets a $175 million annual run-rate (≈70% share of a $250M NPC market) by 2028.

Balance sheet: Cash, cash equivalents and investments were $172.1 million at year-end; secured and convertible debt has been reduced from $480 million to $38.8 million.

Cost base and investment: SG&A from continuing ops was $23.6 million in Q4 (down from $29.6M prior-year Q4); R&D rose to $31.0 million in Q4 (from $20.8M prior-year Q4) as pipeline investment increased.

Pipeline milestones: Two lead oncology assets — Tagmokitug (anti-CCR8 Treg depleter) and casdozokitug (anti–IL-27) — remain on track for initial clinical readouts starting mid‑2026.

Clinical strategy: Tagmokitug is being evaluated across multiple tumor cohorts and in combinations (PD‑1 and a J&J TCE in metastatic CRPC); casdozokitug showed encouraging HCC data (38% ORR, 17% CR in prior study) and a randomized follow-up is enrolling.

Milestones / contingencies: Two potential $37.5M earn‑outs tied to UDENYCA sales (first: $300M within 5 quarters through Q3 2026; second: $350M within 7 quarters through Q1 2027).

Key Financials
LOQTORZI net revenue (FY 2025)
$40.8 million
LOQTORZI net revenue (Q4 2025)
$12.4 million
LOQTORZI demand growth (Q4 2025)
15.5%
Peak revenue target
$175 million annualized (by 2028)
Quarterly revenue thresholds (commercial breakeven)
$15–16 million per quarter
Quarterly revenue thresholds (core burn coverage)
$30–35 million per quarter
Cash, cash equivalents and investments (year‑end 2025)
$172.1 million
Secured and convertible debt (year‑end 2025)
$38.8 million
Headcount
about 147 (end of 2025)
SG&A (continuing operations, Q4 2025)
$23.6 million
R&D (continuing operations, Q4 2025)
$31.0 million
Cash paid for interest (2025)
$9.9 million
TSA receivables (start vs year‑end Q4 2025)
from $241 million to less than $1 million
TSA liabilities (start vs year‑end Q4 2025)
from $254 million to $65 million
Accrued rebates/fees/reserves (Dec 31, 2025)
$30 million
UDENYCA earn‑out milestones
$37.5 million each (two milestones)
LOQTORZI 6‑year overall survival
almost 65 months (LOQTORZI + chemo) vs. less than 36 months (chemo alone)
Earnings Call Recording
Other Earnings Calls

Management

Mr. Dennis M. Lanfear
Chairman, President & CEO
No Bio Available
Mr. Bryan J. McMichael
Former Interim CFO, Principal Financial and Acc. Off., SVP-Acc. & Corporate Controller
No Bio Available
Mr. Paul Reider
Chief Commercial Officer
No Bio Available
Mr. Richard L. Hameister
Chief Technical Officer
No Bio Available
Ms. Jodi Sievers
Vice President of Investor Relations & Corporate Communications
No Bio Available
Mr. Andy Rittenberg
Executive Vice President of General Counsel
No Bio Available
Mr. Scott Saywell
Executive Vice President of Corporate Development
No Bio Available
Ms. Rebecca Sunshine
Chief Human Resources Officer
No Bio Available
Mr. Michael Chen
Senior Vice President of Commercial Analytics & Trade
No Bio Available
Dr. Theresa M. Lavallee Ph.D.
Chief Development Officer & Chairman of Scientific Advisory Board
No Bio Available

Contacts

Address
CALIFORNIA
Redwood City
333 Twin Dolphin Dr Ste 600
Contacts
+16506493530.0
www.coherus.com
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