Coherus Oncology Reports Third Quarter 2025 Financial Results and Provides Business Update

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]