Coherus Oncology Reports Full Year and Fourth Quarter 2025 Financial Results and Provides Business Update

Core Insights - Coherus Oncology reported significant growth in LOQTORZI net revenue, which more than doubled to $40.8 million in 2025 from $19.1 million in 2024, indicating strong market demand and successful sales strategies [1][2] - The company successfully reduced its secured and convertible debt by 90%, decreasing from $480 million to $38.8 million over the period of 2024-2025, enhancing its financial stability [1][2] - As of December 31, 2025, Coherus had $172.1 million in cash, cash equivalents, and marketable securities, reflecting a solid liquidity position [1][17] Financial Performance - For Q4 2025, net revenue from continuing operations was $12.7 million, up from $7.7 million in Q4 2024, driven by increased demand for LOQTORZI [5][9] - The cost of goods sold (COGS) for Q4 2025 was $4.0 million, compared to $2.8 million in Q4 2024, primarily due to volume growth of LOQTORZI [10] - Research and development (R&D) expenses rose to $31.0 million in Q4 2025 from $20.8 million in Q4 2024, reflecting increased investment in pipeline candidates [11] Pipeline Development - Coherus is advancing its innovative oncology pipeline, including casdozokitug, which is in a Phase 2 study for hepatocellular carcinoma, and tagmokitug, a highly selective CCR8 targeting antibody [2][21] - Tagmokitug has shown promising results in preclinical studies, demonstrating high selectivity and significant efficacy in depleting CCR8+ tumor regulatory T cells [4][6] - The company plans to initiate combination studies with tagmokitug and LOQTORZI, as well as with Johnson & Johnson's T-cell engager pasritamig in metastatic castration-resistant prostate cancer [2][13] Market Position - LOQTORZI remains the only FDA-approved treatment in the U.S. for recurrent, locally advanced, or metastatic nasopharyngeal carcinoma, representing a $250 million addressable market [5] - The company is strategically positioned with growing revenues from LOQTORZI and potential deal opportunities across its portfolio, indicating a robust market presence [2][20]