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Mar 31, 2025
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
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
Historical Earnings Impact
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