$CHRS

Coherus BioSciences, Inc.

CIK:0001512762|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue:
Net revenue	$ 14,307	$ 10,254	$ 26,617	$ 17,853
Costs and expenses:
Cost of goods sold	4,242	3,395	8,056	6,048
Research and development	21,442	26,306	42,985	50,662
Selling, general and administrative	20,954	26,039	44,058	52,064
Total costs and expenses	46,638	55,740	95,099	108,774
Loss from operations	(32,331)	(45,486)	(68,482)	(90,921)
Interest expense	(2,323)	(2,277)	(4,509)	(4,427)
Other income (expense), net	1,307	2,901	2,709	3,088
Loss from continuing operations before income taxes	(33,347)	(44,862)	(70,282)	(92,260)
Net loss from continuing operations	(33,347)	(44,862)	(70,282)	(92,260)
Net income from discontinued operations, net of tax (Note 6)	12,716	342,629	11,324	333,458
Net income (loss)	$ (20,631)	$ 297,767	$ (58,958)	$ 241,198
Net income (loss) per share
Net loss per share from continuing operations - basic	$ (0.22)	$ (0.39)	$ (0.48)	$ (0.8)
Net loss per share from continuing operations - diluted	(0.22)	(0.39)	(0.48)	(0.8)
Net income per share from discontinued operations - basic	0.08	2.95	0.08	2.88
Net income per share from discontinued operations - diluted	0.08	2.95	0.08	2.88
Net income (loss) per share - Basic (In dollar per share)	(0.13)	2.57	(0.4)	2.08
Net income (loss) per share - Diluted (In dollar per share)	$ (0.13)	$ 2.57	$ (0.4)	$ 2.08
Weighted-average number of shares used in computing net income (loss) per share:
Basic (In shares)	154,816,912	116,077,710	145,658,487	115,968,352
Diluted (In shares)	154,816,912	116,077,710	145,658,487	115,968,352
Comprehensive income (loss):
Net income (loss)	$ (20,631)	$ 297,767	$ (58,958)	$ 241,198
Other comprehensive loss:
Unrealized loss on available-for-sale securities, net of tax	(13)		(86)
Comprehensive income (loss)	$ (20,644)	$ 297,767	$ (59,044)	$ 241,198

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities
Net income (loss)	$ (58,958)	$ 241,198
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	1,743	2,062
Stock-based compensation expense	4,968	10,793
Loss on debt extinguishment		10,286
(Gain) loss on Sale Transactions, net (Note 6)	699	(339,102)
Change in fair value of derivatives		12,608
Other non-cash adjustments, net	(12,030)	2,490
Changes in operating assets and liabilities:
Trade receivables, net	3,940	106,161
Inventory	(10,875)	(18,474)
Prepaids and other current and non-current assets	4,568	(473)
Accounts payable	4,253	833
Accrued rebates, fees and reserves	(2,365)	(68,053)
TSA related operating assets and liabilities, net	(42,174)	(10,547)
Accrued compensation	(5,299)	(7,329)
Accrued and other current and non-current liabilities	(8,446)	(14,911)
Net cash used in operating activities	(119,976)	(72,458)
Investing activities
Purchases of investments in marketable securities	(20,285)	(20,726)
Proceeds from maturities of investments in marketable securities	81,671
Net cash received related to the Sale Transactions (Note 6)		478,681
Milestone payment to Junshi Biosciences		(12,500)
Other investing activities, net	(1,100)	(303)
Net cash provided by investing activities	60,286	445,152
Financing activities
Proceeds from issuance of common stock under Public Offering, net of issuance costs	53,650
Partial repayment of Revenue Purchase and Sale Agreement		(47,652)
Proceeds from purchases under the employee stock purchase plan	202	188
Taxes paid related to net share settlement	(112)	(280)
Repayment and redemption of 2026 Convertible Notes, including transaction costs	(121)	(233,185)
Other financing activities, net	115	(859)
Net cash provided by (used in) financing activities	53,734	(281,788)
Net increase (decrease) in cash, cash equivalents and restricted cash	(5,956)	90,906
Cash, cash equivalents and restricted cash at beginning of period	89,119	126,250
Cash, cash equivalents and restricted cash at end of period	$ 83,163	$ 217,156

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 82,923	$ 88,879
Investments in marketable securities	22,383	83,246
Trade receivables, net	13,881	17,815
TSA receivables, net	372	603
Inventory	5,667	3,172
Prepaid manufacturing	3,208	6,758
Other prepaids and current assets	5,354	6,233
Total current assets	133,788	206,706
Property and equipment, net	865	1,345
Inventory, non-current	8,425	0
Intangible assets, net	44,989	46,239
Other assets, non-current	3,116	4,053
Total assets	191,183	258,343
Current liabilities:
Accounts payable	13,168	9,915
Accrued rebates, fees and reserves	14,894	30,397
TSA payables and accrued liabilities	22,660	65,065
Accrued compensation	9,937	14,579
Accrued and other current liabilities	14,851	20,430
Total current liabilities	75,510	140,386
Term loan, non-current	37,247	37,051
Other liabilities, non-current	17,588	19,892
Total liabilities	130,345	197,329
Commitments and contingencies (Note 9)
Stockholders' equity:
Preferred stock ($0.0001 par value; shares authorized: 5,000,000; shares issued and outstanding: 0 at June 30, 2026 and December 31, 2025)
Common stock ($0.0001 par value; shares authorized: 300,000,000; shares issued and outstanding: 154,470,363 and 121,154,925 at June 30, 2026 and December 31, 2025, respectively)	15	12
Additional paid-in capital	1,503,031	1,444,166
Accumulated other comprehensive loss	(281)	(195)
Accumulated deficit	(1,441,927)	(1,382,969)
Total stockholders' equity	60,838	61,014
Total liabilities and stockholders' equity	$ 191,183	$ 258,343