secwatch.observer — SEC 8-K summary
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Issuer:     Coherus Oncology, Inc. (CHRS)
CIK:        0001512762
Form:       8-K
Filed at:   2024-03-13T23:59:59+00:00
Accession:  0001558370-24-003110
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1512762/000155837024003110/0001558370-24-003110-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1512762/000155837024003110/chrs-20240313x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-003110

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