Coherus Oncology, Inc. (CHRS) Market Cap
Coherus Oncology, Inc. has a market capitalization of $231.9M.
Financials based on reported quarter end 2025-12-31
Price: $1.98
▲ 0.08 (4.21%)
Market Cap: 231.95M
NASDAQ · time unavailable
CEO: Dennis Lanfear
Sector: Healthcare
Industry: Biotechnology
IPO Date: 2014-11-06
Website: https://www.coherus.com
Coherus Oncology, Inc. (CHRS) - Company Information
Market Cap: 231.95M · Sector: Healthcare
Coherus Oncology, Inc., a biopharmaceutical company, researches, develops, and commercializes immunotherapies to treat cancer in the United States. The company develops UDENYCA, a biosimilar to Neulasta, a long-acting granulocyte-colony stimulating factor; LOQTORZI, a novel next-generation programmed death receptor-1 inhibitor; and Casdozokitug, an investigational recombinant human immunoglobulin isotype (IgG1) monoclonal antibody targeting interleukin 27. It also develops CHS-114, an investigational highly specific human afucosylated IgG1 monoclonal antibody, a chemokine receptor highly expressed on Treg cells in the tumor microenvironment (TME); and CHS-1000, Anti-ILT4 monoclonal antibody for solid tumors. In addition, the company offers GSK4381562, an antibody targeting CD112R to treat tumor cells; YUSIMRY, a biosimilar to Humira for inflammatory diseases characterized by increased production of tumor necrosis factor (TNF) in the body, such as rheumatoid arthritis, juvenile idiopathic arthritis, psoriatic arthritis, ankylosing spondylitis, Crohn's disease, psoriasis, and ulcerative colitis; and CIMERLI, a Lucentis biosimilar to treat neovascular age-related macular degeneration, macular edema following retinal vein occlusion, diabetic macular edema, diabetic retinopathy, and myopic choroidal neovascularization. It has a collaboration agreement with Junshi Biosciences for the co-development and commercialization of toripalimab; agreement with Surface and Adimab LLC; license agreements with Bioeq AG and Genentech, Inc. and Surface and Vaccinex, Inc.; and out-licensing agreement with Novartis Institutes for Biomedical Research, Inc. and GlaxoSmithKline Intellectual Property No. 4 Limited. The company was formerly known as Coherus BioSciences, Inc. and changed its name to Coherus Oncology, Inc. in May 2025. The company was incorporated in 2010 and is based in Redwood City, California.
Analyst Sentiment
Based on 6 ratings
Analyst 1Y Forecast: $1.05
Average target (based on 3 sources)
Consensus Price Target
Low
$1
Median
$6
High
$11
Average
$6
Potential Upside: 204.0%
Price & Moving Averages
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Fundamentals Overview
📊 AI Financial Analysis
Powered by StockMarketInfo"CHRS reported revenue of $12.75M for the most recent quarter with a net loss of $375.96M and an EPS of -$0.31. The company had total assets of $258.34M against total liabilities of $197.33M, indicating a reasonable equity position of $61.01M. However, CHRS generated negative operating cash flow of $19.72M, reflecting significant financial pressure as it also recorded a similar free cash flow loss. The company has not distributed dividends. Despite operating at a loss and being in a challenging cash flow position, CHRS demonstrated a strong price appreciation of 79.60% over the past year, which could reflect positive investor sentiment or anticipation of future growth. Its current stock price is $1.71 with a median price target of $6.00, suggesting significant upside potential based on analyst forecasts."
Revenue Growth
Revenue of $12.75M is modest and indicates minimal growth potential.
Profitability
The company is unprofitable with a significant net loss.
Cash Flow Quality
Negative operating cash flow and free cash flow raise concerns about financial health.
Leverage & Balance Sheet
Net debt is negative, indicating a strong balance sheet relative to liabilities.
Shareholder Returns
Impressive 79.60% stock price appreciation over the past year, despite no dividends.
Analyst Sentiment & Valuation
Potential upside based on analyst price targets, though current valuation remains uncertain.
Disclaimer:This analysis is AI-generated for informational purposes only. Accuracy is not guaranteed and this does not constitute financial advice.
So what: CHRS is executing a clear turnaround with LOQTORZI as a durable, non-dilutive revenue engine while advancing combination-ready immunology assets. The company reported LOQTORZI full-year 2025 net revenue of $40.8M (+113% YoY) and Q4 net revenue of $12.4M (+11% QoQ), with demand growth of 15.5% offset by wholesaler inventory declines—suggesting underlying momentum but quarter-to-quarter optics risk. Management reiterated 10%–15% average quarterly demand growth and guided to a 2028 peak-market-share scenario targeting $175M annualized revenues (~70% of a $250M NPC market). On funding, cash/investments were $172.1M and debt was sharply reduced to $38.8M, materially lowering interest expense (cash interest $9.9M in 2025). Clinically, tagmokitug’s TregCheck cohorts and the J&J pasritamig combination are positioned for mid-year 2026 initial data, while casdozokitug’s Catalyze HCC program remains on track for the same window. Key overhangs are promotional sensitivity and the broader need for effective combination mechanisms given limited single-agent CCR8 activity.
Growth Catalysts
- LOQTORZI: continued rare disease share build after NCCN update (preferred for recurrent/metastatic NPC) and education push supported by new 6-year OS data
- tagmokitug (CCR8): Treg depletion plus massive CD8 T-cell increase; expanding TregCheck program across multiple solid-tumor cohorts
- pasritamig + tagmokitug: first CCR8 antibody in combination with a TCE in prostate cancer; study initiation expected 2H'26 (safety and additional PSA50 endpoints starting 2H'26)
- casdozokitug (IL-27): Catalyze program targeting first-line HCC with ongoing 72-patient randomized 3-arm study (Casdozo + Tori/Bev vs Tori/Bev alone) on track for mid-year 2026 initial data
Business Development
- Johnson & Johnson collaboration: study combination of tagmokitug with pasritamig (prostate-specific TCE binding to KLK2) in metastatic CRPC (first TCE + CCR8 combination in CRPC)
- J&J ex-U.S. partnership intent: management expects ex-U.S. partners to provide upfront payments and share of pivotal/registration costs for tagmokitug and casdozokitug
Financial Highlights
- LOQTORZI full-year 2025 net revenue: $40.8M vs $19.1M in 2024 (+113% YoY)
- LOQTORZI Q4 2025 net revenue: $12.4M; +11% vs Q3 (demand +15.5%, delta vs net revenue driven by wholesaler inventory declines)
- Commercial demand: expected average quarter-over-quarter demand growth of 10% to 15% going forward
- SG&A (continuing ops) Q4 2025: $23.6M vs $29.6M Q4 prior year; fourth consecutive quarter flat/down post-transformation
- R&D (continuing ops) Q4 2025: $31.0M vs $20.8M Q4 2024 (R&D slightly increased each quarter in 2025)
- Debt: reduced principal term/convertible debt from $480M peak to $38.8M at year-end 2025; earliest debt maturity extended to May 2029
- Interest cash paid in 2025: $9.9M; savings >$15M vs $25.4M paid in 2024
- Legacy liabilities: accrued rebates/fees/reserves total $30M at Dec 31, down from $67M one quarter earlier
- TSA receivables wind-down: $241M start of Q4 to < $1M year-end; TSA liabilities reduced from $254M start of Q4 to $65M at year-end
- Earn-out milestones (UDENYCA): two potential $37.5M milestones; criteria based on 4 consecutive quarters of UDENYCA sales starting Q3 2025 ($300M within 5 quarters through Q3 2026 for first; $350M within 7 quarters through Q1 2027 for second)
Capital Funding
- Raised about $50M recently (includes a $50M follow-on offering last month)
- Cash equivalents and investments: $172.1M at year-end 2025
- Management indicates funding sufficient through key timelines in 2026 and into 2027 (and expects to be “sufficiently funded through key to day layouts in '26 and on into 2027”)
Strategy & Ops
- LOQTORZI commercial investment plan: modest field force expansion (~15% expansion in live sales force), adding ~4 inside sales reps for tier 2 targets, plus VA-targeted contract sales force
- CRM/IT data expansion: claims data visibility increased to ~70% of U.S. claims; expanded diagnosis code alerts captured from ~30%–35% last year to ~65%–70% this year
- Dashboard/display technology investments for sales team; inside sales team organizing and pursuing real-time patient alerts
- Promotion sensitivity (commercial execution risk): LOQTORZI described as “extremely promotion sensitive” due to community physicians’ limited NPC patient volume per year and need for repeated education
Market Outlook
- Peak LOQTORZI market share expected in 2028; management targets $175M annualized revenues (~70% market share of $250M total NPC market)
- Commercial self-funding milestones: commercial effort paying for itself expected after ~$15M–$16M per quarter; core burn paid for by revenues expected at ~$30M–$35M per quarter (clinical-trial expense excluded from “core burn” definition)
- Commercial demand outlook: average 10%–15% quarter-over-quarter demand growth (with intra-quarter variability driven by patient flow and wholesaler inventory movements)
- Clinical readout timing: initial data mid-year 2026 and beyond for tagmokitug and casdozokitug programs (Rosh reiterated on-track; specific cohort timing provided in narrative)
Risks & Headwinds
- tagmokitug: CCR8 class has “shown limited single agent activity,” requiring partner mechanism to activate T cells (key scientific/commercial dependency on combinations)
- Community promotion/penetration risk: LOQTORZI “extremely promotion sensitive” with community physicians needing repeated reminders for small-volume NPC patients
- Off-label/chemo-only persistence: remaining opportunity stated in community segment due to continued “chemo only and off-label IO” despite NCCN preference
- Treg field competition: management noted Treg space is increasingly competitive with expected data readouts by other parties this year (risk to timing/positioning of tagmokitug)
- Wholesaler inventory dynamics: Q4 net revenue growth differed from demand growth due to wholesaler inventory declines (potential quarter-to-quarter volatility)
Sentiment: POSITIVE
Note: This summary was synthesized by AI from the CHRS Q4 2025 earnings transcript. Financial data is complex; please verify all metrics against official SEC filings before making investment decisions.