Coherus Biosciences ( (CHRS) ) has released its Q4 earnings. Here is a breakdown of the information Coherus Biosciences presented to its investors.
Coherus BioSciences is a commercial-stage biopharmaceutical company focused on developing and marketing innovative immunotherapies for cancer treatment. The company is known for its oncology pipeline and commercial capabilities in the sector.
In its latest earnings report, Coherus BioSciences announced a 4% increase in annual net revenue for 2024, reaching $267.0 million, despite significant divestitures. The company highlighted a 62% year-over-year increase in UDENYCA’s net revenue and a 29% quarter-over-quarter increase in LOQTORZI’s net revenue.
Key financial metrics showed that UDENYCA’s net product sales for the full year 2024 were $206.0 million, marking a significant 62% increase from the previous year. The company also reported a successful commercial launch of LOQTORZI, which achieved net product sales of $19.1 million in 2024. Coherus is on track to divest UDENYCA, expecting to close the transaction by early 2025, which will result in a post-divestiture cash position of approximately $250 million.
Coherus is focusing on advancing its oncology pipeline, with plans to combine LOQTORZI with other internal pipeline assets and explore external partnerships for label expansions. The company is also progressing with clinical trials for its innovative candidates, casdozokitug and CHS-114, targeting various cancer indications.
Looking ahead, Coherus BioSciences is poised to continue its strategic focus on oncology, with a strong cash position and a streamlined organization post-divestiture. The company aims to leverage its innovative pipeline and commercial strengths to drive growth and achieve key clinical milestones in the coming years.
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