erus BioSciences(CHRS) - 2025 Q3 - Quarterly Results

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]