Coherus Biosciences ( (CHRS) ) has released its Q3 earnings. Here is a breakdown of the information Coherus Biosciences presented to its investors.
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Coherus BioSciences, Inc. is a commercial-stage biopharmaceutical company focusing on the development and commercialization of innovative immunotherapies aimed at treating cancer, with a strong presence in the oncology sector. In the third quarter of 2024, Coherus BioSciences reported net revenue of $70.8 million, largely driven by a 30% increase in UDENYCA sales and a 50% rise in LOQTORZI revenue. This performance reflects the company’s strategic focus on oncology, resulting in comparable revenues to the third quarter of 2023 despite divestitures. Key financial metrics reveal an increase in UDENYCA sales to $66.1 million, ensuring its position as the second-leading product in the pegfilgrastim class. The company also reported a successful launch of LOQTORZI, with sales reaching $5.8 million in Q3 2024. Moreover, Coherus is advancing its immuno-oncology pipeline with multiple clinical trials, including a Phase 2 study for casdozokitug in hepatocellular carcinoma. Looking ahead, Coherus remains committed to expanding its oncology portfolio and enhancing its manufacturing capabilities, with plans for increased packaging and labeling capacity. The company’s strategic initiatives and ongoing research efforts position it for continued progress in delivering next-generation cancer therapies.
