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Dec 31, 2024
Coherus Q4 2024 Earnings Report
Coherus reported a decline in Q4 FY24 revenue due to divestitures, offset by strong growth in LOQTORZI sales.
Key Takeaways
Coherus' Q4 FY24 revenue declined 41% year-over-year to $54.1 million, primarily due to the divestiture of CIMERLI and YUSIMRY. Despite this, UDENYCA revenue grew 28% to $46.3 million, while LOQTORZI revenue increased 29% quarter-over-quarter. The company reported a net loss of $50.7 million and an EPS of -$0.44, reflecting increased investment in oncology development.
Q4 revenue declined 41% year-over-year to $54.1 million due to divestitures.
UDENYCA revenue grew 28% year-over-year to $46.3 million.
LOQTORZI revenue increased 29% quarter-over-quarter to $7.5 million.
Net loss for the quarter was $50.7 million, with an EPS of -$0.44.
Forward Guidance
Coherus expects improved financial flexibility in FY25 following the divestiture of UDENYCA, with a focus on growing LOQTORZI and advancing its oncology pipeline.
Positive Outlook
- Projected post-UDENYCA divestiture cash of approximately $250 million.
- Expecting strong revenue growth for LOQTORZI in FY25.
- Plans to advance multiple oncology pipeline candidates, including CHS-114.
- Anticipated milestone data readouts for IL-27 antagonist and CCR8 antibody.
- Cost-cutting measures and operational streamlining to improve profitability.
Challenges Ahead
- Revenue decline expected in the short term due to UDENYCA divestiture.
- Higher R&D expenses impacting short-term profitability.
- Market competition in the oncology segment remains strong.
- Potential regulatory delays for new pipeline candidates.
Historical Earnings Impact
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