Core Insights - Coherus Oncology reported a quarterly loss of $0.33 per share, slightly worse than the Zacks Consensus Estimate of a loss of $0.32, and a significant decline from a loss of $0.01 per share a year ago, indicating a negative earnings surprise of -3.13% [1] - The company generated revenues of $11.57 million for the quarter ended September 2025, missing the Zacks Consensus Estimate by 5.23% and down from $70.77 million in the same quarter last year [2] - Coherus Oncology's stock has increased by approximately 13.4% year-to-date, underperforming the S&P 500's gain of 15.6% [3] Earnings Outlook - The earnings outlook for Coherus Oncology is uncertain, with current consensus EPS estimates at -$0.30 for the upcoming quarter and -$1.31 for the current fiscal year, alongside expected revenues of $14.26 million and $56.71 million respectively [7] - The company currently holds a Zacks Rank of 3 (Hold), suggesting that its shares are expected to perform in line with the market in the near future [6] Industry Context - The Medical - Biomedical and Genetics industry, to which Coherus Oncology belongs, is currently ranked in the top 41% of over 250 Zacks industries, indicating a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Coherus Oncology's stock performance [5]

Financial Data and Key Metrics Changes - Coherus Oncology reported Q3 2025 net revenue of LOQTORZI at $11.2 million, reflecting a 12% increase quarter-over-quarter and a 92% increase year-over-year, although this is a decline from the 35% growth seen in Q2 [26][32] - The total cash and investments at the end of Q3 was $192 million, with total liabilities of $429 million, of which $254 million related to transition service agreements [33][34] - R&D expenses for the quarter were $27.3 million, up 24% from Q3 last year, while SG&A expenses were $24.9 million, down 11% compared to last year [35] Business Line Data and Key Metrics Changes - LOQTORZI's growth was driven by new patient starts and increasing duration of treatment, with a total number of accounts purchasing LOQTORZI growing over 15% [26][28] - The average growth for three out of four regions was 21%, with one region experiencing flat demand due to staffing issues [27][30] Market Data and Key Metrics Changes - The addressable market for LOQTORZI in nasopharyngeal cancer (NPC) is estimated to be between $150 million and $200 million, with expected average demand growth of 10%-15% over the next three years [28][29] - Approximately 2,000 LOQTORZI eligible patients are seen each year, with key differences in treatment dynamics between hospital-based specialists and community physicians [29][30] Company Strategy and Development Direction - The company aims to achieve a step change in patient survival through drug combinations and is focusing on expanding its pipeline with LOQTORZI and CHS-114 [6][10] - Coherus is pursuing partnerships to offset ongoing clinical development costs and is focused on global rights for its pipeline products [10][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving revenue targets and highlighted strong execution across all business dimensions [5][37] - The company is well-positioned to continue scientific leadership in TREG depletion and is excited about the potential of its pipeline assets [9][18] Other Important Information - The company has transitioned to focus solely on novel oncology after exiting the biosimilar business, using divestiture proceeds to pay off near-term debts [33][34] - The clinical program for CHS-114 is designed to explore its utility across multiple tumor types, with a focus on colorectal cancer and other solid tumors [22][80] Q&A Session Summary Question: Potential for bispecific format targeting CCR8 and PD-1 - Management acknowledged the interest in bispecifics but emphasized the challenges in combining mechanisms and suggested traditional combination therapy may yield stronger clinical responses [40][44] Question: Trajectory and inflection points for LOQTORZI - Management indicated that with a consistent growth rate of 10%-15% per quarter, the company could reach its sales target of $150 million-$200 million earlier than mid-2028, emphasizing the importance of physician education [47][50] Question: Expectations for colorectal cancer study benchmarks - Management highlighted the need to exceed current response rates in the fourth-line setting and emphasized the importance of durability and disease stability in evaluating outcomes [51][53] Question: Justification for moving to pivotal studies for casdozokitug - Management stated that they would look for solid overall response rates and durability in the upcoming data readouts to justify moving forward with pivotal studies [62][63] Question: Increase in duration of therapy for LOQTORZI - Management noted that duration of therapy is increasing each quarter, although they have not yet reached the average seen in clinical trials [67][69] Question: Expectations around dose optimization data for CHS-114 - Management expressed optimism about the ongoing study and the importance of biopsy data in determining the recommended phase two dose [70][74]

Financial Performance - Coherus Oncology reported net revenue of $11.571 million for the three months ended September 30, 2025, a 91.5% increase from $6.052 million in the same period of 2024[13]. - The company incurred a net loss of $35.531 million for the three months ended September 30, 2025, compared to a net loss of $10.751 million in the same period of 2024[15]. - Coherus Oncology reported a net income of $205.67 million for the nine months ended September 30, 2025, compared to $79.20 million for the same period in 2024, reflecting a significant increase[20]. - The company experienced a net cash used in operating activities of $118.80 million for the nine months ended September 30, 2025, compared to $49.05 million for the same period in 2024[20]. - The net loss from continuing operations for the three months ended September 30, 2025, was $44.517 million, compared to a loss of $47.599 million in 2024[107]. Revenue and Sales - The company anticipates continued growth in product sales and is focused on maintaining regulatory approvals for its product candidates[7]. - LOQTORZI generated net product revenue of $11.169 million for the three months ended September 30, 2025, compared to $5.832 million for the same period in 2024[39]. - For the nine months ended September 30, 2025, total net revenue reached $29.424 million, compared to $18.656 million in 2024, indicating a 58% increase[39]. - The company launched LOQTORZI in December 2023, contributing to the overall revenue growth[39]. - The company reported total net revenue from discontinued operations of $10,663,000 for the three months ended September 30, 2025, a decrease from $64,722,000 in the same period of 2024[66]. Assets and Liabilities - Total current assets rose to $460.955 million as of September 30, 2025, compared to $341.583 million as of December 31, 2024, marking a 35% increase[12]. - The company reported total liabilities of $428.745 million as of September 30, 2025, down from $580.523 million as of December 31, 2024, indicating a 26.1% decrease[12]. - Coherus Oncology's total stockholders' equity improved to $87.774 million as of September 30, 2025, compared to a deficit of $131.990 million as of December 31, 2024[12]. - The total balance of chargebacks and discounts for prompt payment as of September 30, 2025, was $69.826 million, down from $275.645 million at December 31, 2024[42]. - Total accrued and other current liabilities decreased significantly to $13.1 million as of September 30, 2025, from $60.3 million as of December 31, 2024, representing a reduction of approximately 78.2%[58]. Research and Development - Research and development expenses increased to $27.252 million for the three months ended September 30, 2025, up from $22.052 million in the same period of 2024, reflecting a 23.5% rise[13]. - The company recognized a reduction in research and development expenses of $4.8 million during the nine months ended September 30, 2024, related to obligations to Junshi Biosciences[74]. - Coherus has a pipeline that includes two mid-stage clinical candidates targeting various cancers, aiming to grow sales of its PD-1 inhibitor, LOQTORZI[21]. Divestitures and Transactions - The Company divested the UDENYCA franchise to Intas Pharmaceuticals for an upfront cash consideration of $483.4 million, including $118.4 million for product inventory[22]. - The company recognized a net gain of $338.7 million from the sale of the UDENYCA business, which included cash receipts less net assets transferred and transaction expenses[60]. - The company is eligible for two additional earnout payments of $37.5 million each based on UDENYCA's net sales performance over specified periods[61]. - The company completed the divestiture of the UDENYCA business for $483.4 million, including $118.4 million for product inventory[60]. Stock and Shares - The weighted-average number of shares used in computing net loss per share was 116,229,170 for the three months ended September 30, 2025[13]. - Coherus Oncology's total common stock shares outstanding increased to 116,236,018 as of September 30, 2025, from 115,907,216 as of March 31, 2025[17]. - The company issued 287,473 shares under the employee stock purchase plan (ESPP), generating $188,000 in additional paid-in capital[17]. - The company had approximately 30.9 million outstanding dilutive potential shares excluded from the calculation of diluted net income (loss) per share for the three months ended September 30, 2025[107]. Cash and Cash Equivalents - Coherus Oncology's cash and cash equivalents decreased to $103.352 million as of September 30, 2025, from $125.987 million as of December 31, 2024, a decline of 17.9%[12]. - As of September 30, 2025, cash equivalents totaled $103.2 million, while marketable debt securities amounted to $152.4 million, leading to a total fair value of financial assets of $191.5 million[48]. - The company anticipates that its available cash, cash equivalents, and marketable securities will be sufficient to fund planned expenditures and meet obligations in the future[7]. Debt and Interest - The company entered into a senior secured term loan facility for up to $38.7 million, with net proceeds of $37.5 million used to repay the 2027 Term Loans[78]. - Interest expense for the 2029 Term Loan was $1.3 million for the three months ended September 30, 2025, and $3.9 million for the nine months ended September 30, 2025[80]. - The 2029 Term Loan matures on May 8, 2029, with an interest rate of 8.0% plus a three-month SOFR rate, and the company was in full compliance with the loan agreement as of September 30, 2025[79]. - The company recognized a loss on debt extinguishment of $10.3 million during the nine months ended September 30, 2025[70].

Financial Performance - Coherus reported Q3 2025 net revenue of $11.6 million, a 90% increase compared to $6.1 million in Q3 2024[8] - LOQTORZI® net revenue was $11.2 million in Q3 2025, representing a 12% increase from $10.0 million in Q2 2025 and a 92% increase from $5.8 million in Q3 2024[3] - Coherus reported net revenue of $11,571,000 for the three months ended September 30, 2025, a 91.5% increase from $6,052,000 in the same period of 2024[28] - The total costs and expenses for the three months ended September 30, 2025, were $55,904,000, compared to $52,908,000 for the same period in 2024, reflecting a 5.7% increase[28] - The company reported a net income from discontinued operations of $8,986,000 for the three months ended September 30, 2025, down from $36,848,000 in the same period of 2024[28] Loss and Expenses - The net loss from continuing operations for Q3 2025 was $44.5 million, or $(0.38) per share, an improvement from a net loss of $47.6 million, or $(0.41) per share, in Q3 2024[14] - Coherus experienced a net loss from continuing operations of $44,517,000 for the three months ended September 30, 2025, compared to a loss of $47,599,000 in the same period of 2024[28] - The company reported a non-GAAP net loss from continuing operations of $38,897,000 for the three months ended September 30, 2025, compared to $40,019,000 in the same period of 2024[37] - Research and development expenses for Q3 2025 were $27.3 million, compared to $22.1 million in Q3 2024, driven by increased costs for the development of casdozokitug and CHS-114[11] - Selling, general and administrative expenses decreased to $24.9 million in Q3 2025 from $28.1 million in Q3 2024, primarily due to lower headcount and decreased operating costs[12] Cash and Assets - Cash, cash equivalents, and marketable securities totaled $191.7 million as of September 30, 2025, up from $126.0 million as of December 31, 2024[16] - Cash and cash equivalents at the end of the period were $103,352,000, a decrease from $125,987,000 at the end of December 31, 2024[30] - Coherus' total assets increased to $516,519,000 as of September 30, 2025, compared to $448,533,000 as of December 31, 2024[30] - Coherus' cash used in operating activities was $46,339,000 for the three months ended September 30, 2025, compared to $62,016,000 in the same period of 2024[32] - The company had total stockholders' equity of $87,774,000 as of September 30, 2025, compared to a deficit of $(131,990,000) as of December 31, 2024[30] Clinical Development and Strategy - Coherus expanded the CHS-114 clinical program to include colorectal cancer, addressing a significant unmet medical need[2] - The company plans to combine LOQTORZI with internal pipeline candidates for additional solid tumor indications and pursue external partnerships for label expansions[9] - Initial data readouts for ongoing studies of CHS-114 and casdozokitug are expected throughout 2026, with multiple data readouts anticipated across various tumor types[2] - Coherus aims to deepen adoption of LOQTORZI among general oncologists by driving education on clinical data and updated NCCN guidelines[3]

Core Insights - Coherus Oncology has expanded its clinical program for CHS-114, a selective Treg depleter, to include colorectal cancer, addressing a significant unmet medical need [1][2] - The company reported a net revenue of $11.2 million for LOQTORZI in Q3 2025, marking a 12% increase from Q2 2025 and a 92% increase from Q3 2024 [5][8] - As of September 30, 2025, Coherus had cash, cash equivalents, and marketable securities totaling $191.7 million [16] Recent Business Highlights - LOQTORZI is the only FDA-approved treatment for recurrent, locally advanced, or metastatic nasopharyngeal carcinoma in the U.S. [5] - The growth in LOQTORZI's revenue is attributed to increased patient demand and awareness of updated NCCN guidelines [5] - The company is focusing on expanding its oncology pipeline, including combining LOQTORZI with internal candidates like CHS-114 and casdozokitug [4][19] Financial Performance - For Q3 2025, net revenue from continuing operations was $11.6 million, compared to $6.1 million in Q3 2024, and $29.4 million for the nine months ended September 30, 2025, compared to $18.7 million in the same period of 2024 [8][14] - Research and development expenses increased to $27.3 million in Q3 2025 from $22.1 million in Q3 2024, driven by the development of casdozokitug and CHS-114 [10] - The net loss from continuing operations for Q3 2025 was $44.5 million, a slight improvement from a net loss of $47.6 million in Q3 2024 [14][15] Pipeline Developments - CHS-114 is currently in Phase 1b/2a studies targeting various cancers, including head and neck squamous cell carcinoma and colorectal cancer [21] - Casdozokitug is being evaluated in a Phase 2 study for first-line hepatocellular carcinoma, showing promising monotherapy activity in treatment-refractory non-small cell lung cancer [7][21] - Initial data readouts for ongoing studies are expected throughout 2026, indicating a robust pipeline for the company [2][11]

Core Insights - Coherus Oncology has appointed Arvind Sood as Chief Strategy and Corporate Affairs Officer to enhance its strategic functions and investor relations [1][2] - The company is focused on advancing its innovative cancer therapeutics, particularly LOQTORZI® and its pipeline candidates, which target various cancers [2][3] - Coherus holds global rights to key products, CHS-114 and casdozokitug, which presents potential business development opportunities [2][4] Company Overview - Coherus Oncology is a commercial-stage innovative oncology company with an approved PD-1 inhibitor, LOQTORZI®, and a pipeline that includes mid-stage clinical candidates targeting multiple cancers [3] - The company's strategy includes growing LOQTORZI sales in nasopharyngeal carcinoma and developing new indications in combination with pipeline candidates [3] Pipeline Development - Coherus' pipeline features multiple antibody immunotherapy candidates aimed at enhancing immune responses against cancer [4] - CHS-114 is currently in Phase 1b/2a studies for advanced solid tumors, while casdozokitug is being evaluated in a Phase 2 study for hepatocellular carcinoma [4]

Core Insights - Coherus Oncology, Inc. will release its third quarter 2025 financial results on November 6, 2025, after market close [1] - A conference call and webcast will be held at 5:00 p.m. Eastern Time on the same day to discuss the financial results and provide a business update [1][3] Company Overview - Coherus Oncology is a commercial-stage innovative oncology company with an approved PD-1 inhibitor, LOQTORZI® (toripalimab-tpzi), and a growing revenue stream [6] - The company has a promising pipeline that includes two mid-stage clinical candidates targeting various cancers such as liver, lung, and head & neck [6] Pipeline and Research - Coherus' pipeline features multiple antibody immunotherapy candidates aimed at enhancing immune responses against tumors [7] - CHS-114, a selective anti-CCR8 antibody, is currently in Phase 1b/2a studies for advanced solid tumors [7] - Casdozokitug, an IL-27 antagonistic antibody, is being evaluated in a Phase 2 study for first-line hepatocellular carcinoma [7]

Core Insights - The biotechnology sector has seen notable momentum, with four stocks entering the top 10th percentile based on significant week-on-week gains [1][2] Group 1: Key Biotech Stocks - Aldeyra Therapeutics Inc. (ALDX) experienced a momentum percentile surge from 32.07 to 91.32, marking a 59.25-point increase, with an 8.62% year-to-date rise and a 6.58% increase over the year [6] - Alector Inc. (ALEC) improved its momentum percentile from 87.61 to 92.19, a 4.58-point rise, showing a 66.14% year-to-date increase but a decline of 30.99% over the year [6] - Black Diamond Therapeutics Inc. (BDTX) advanced its percentile from 88.36 to 92.61, a 4.25-point gain, with a remarkable 101.87% year-to-date increase and a 25.58% rise over the year [7] - Coherus Oncology Inc. (CHRS) edged up from 89.10 to 92.71, a climb of 3.61 percentile points, with a 30.00% year-to-date increase and an impressive 87.63% rise over the year [7] Group 2: Market Context - The S&P 500 index closed 0.28% lower, while the Nasdaq 100 and Dow Jones indices also saw declines of 0.15% and 0.52% respectively [5] - Futures for the S&P 500, Dow Jones, and Nasdaq 100 indices were trading higher on the following Friday, indicating potential market recovery [5]

Core Insights - The biotechnology sector has seen notable momentum, with four stocks entering the top 10th percentile based on significant week-on-week gains [1][2] Group 1: Key Biotech Stocks - Aldeyra Therapeutics Inc. (ALDX) experienced a momentum percentile surge from 32.07 to 91.32, marking a 59.25-point increase, with an 8.62% year-to-date rise and a 6.58% increase over the year [6] - Alector Inc. (ALEC) improved its momentum percentile from 87.61 to 92.19, a 4.58-point rise, showing a 66.14% year-to-date increase but a decline of 30.99% over the year [6] - Black Diamond Therapeutics Inc. (BDTX) advanced its percentile from 88.36 to 92.61, a 4.25-point gain, with a year-to-date increase of 101.87% and a 25.58% rise over the year [7] - Coherus Oncology Inc. (CHRS) edged up from 89.10 to 92.71, a climb of 3.61 percentile points, with a 30.00% year-to-date increase and an 87.63% rise over the year [7] Group 2: Market Context - The S&P 500 index closed 0.28% lower, while the Nasdaq 100 and Dow Jones indices also saw declines of 0.15% and 0.52% respectively, indicating a mixed market environment [5]

Core Insights - Coherus Oncology is set to present CHS-114, an anti-CCR8 cytolytic antibody, at the 40th Annual Meeting of the Society for Immunotherapy of Cancer (SITC) from November 5-9, 2025 [1][2] - CHS-114 has shown selective intratumoral Treg depletion and favorable immune remodeling in patients with advanced solid tumors [2] - The company is focused on enhancing its immuno-oncology pipeline, which includes multiple antibody candidates aimed at improving patient outcomes in cancer treatment [4] Company Overview - Coherus Oncology is a fully integrated commercial-stage innovative oncology company with an approved PD-1 inhibitor, LOQTORZI® (toripalimab-tpzi), and a promising proprietary pipeline [3] - The company aims to grow sales of LOQTORZI in nasopharyngeal carcinoma and explore new indications in combination with its pipeline candidates and partners [3] - Coherus' pipeline includes candidates targeting various cancers, including liver, lung, head & neck, colorectal, gastric, and esophageal cancers [4] Upcoming Events - CHS-114 will be featured in a live webinar series titled "Targets for Cancer IO: A Deep Dive" on October 22, 2025, discussing the therapeutic target CCR8 and its implications in cancer treatment [2][8] - The webinar will include discussions on the mechanisms and clinical results of anti-CCR8 antibodies, highlighting the latest advances in this area [2]