Coherus reports FY2023 revenue $257.2M, divests CIMERLI to Sandoz for $170M, plans debt paydown

Coherus Oncology, Inc.

Q4 2023 net revenue $91.5M (+102% YoY); FY2023 $257.2M (+22% YoY); net loss $79.7M Q4, $237.9M FY.
Closed ophthalmology divestiture to Sandoz on March 1 for $170M upfront plus $17.8M inventory/assets.
Plans to prepay $175M of $250M term loan by April 1, cutting interest ~70%; workforce reduction of 30%.
Launched LOQTORZI (NPC) and UDENYCA ONBODY in Q1 2024; UDENYCA market share 26% as of March 1.
2024 guidance: SG&A+R&D $250-265M (down from $301.5M in 2023); annual cost savings >$25M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Coherus Oncology, Inc. reported financial results for fiscal year ended December 31, 2023.

Period: fiscal year ended December 31, 2023
Result: reported results

Exact text from the filing

On March 13, 2024, Coherus BioSciences, Inc. (the “Company”) issued a press release regarding its financial results for the fiscal year ended December 31, 2023.

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Coherus Oncology, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-24-003110

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