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Mar 31
Coherus Q1 2025 Earnings Report
Coherus reported higher net revenue from continuing operations and narrowed losses for Q1 2025 following its strategic oncology transformation.
Key Takeaways
Coherus delivered $7.6 million in net revenue from continuing operations in Q1 2025, primarily driven by LOQTORZI sales, and significantly reduced its GAAP and non-GAAP losses as it transitions to a focused oncology company.
LOQTORZI revenue reached $7.3 million, boosting total continuing operations revenue to $7.6 million
GAAP net loss from continuing operations narrowed to $47.4 million from $68.0 million last year
Non-GAAP net loss improved to $40.9 million from $53.6 million a year earlier
Cash and cash equivalents totaled $82.4 million at the end of Q1 2025
Coherus
Coherus
Forward Guidance
Coherus emphasized its strategic focus on oncology, with plans to expand LOQTORZI indications and advance CHS-114 and casdozokitug clinical trials.
Positive Outlook
- LOQTORZI patient demand grew more than 15% over Q4 2024
- CHS-114 Phase 1b expansion ongoing in HNSCC and gastric cancer
- Enrollment progressing for casdozokitug Phase 2 trial in 1L HCC
- Early clinical data support CHS-114’s mechanism and anti-tumor activity
- Completed UDENYCA divestiture for up to $558.4 million
Challenges Ahead
- Net losses remain significant despite improvements
- SG&A expenses still high at $26 million
- Cash burn resulted in a $43.6 million decrease in Q1 2025
- Significant interest expense of $2.15 million continues
- No revenue yet from pipeline immuno-oncology assets beyond LOQTORZI