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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 IL-27. It also develops CHS-114, an investigational human afucosylated IgG1 monoclonal antibody, a chemokine receptor highly expressed on Treg cells in the tumor microenvironment (TME) patients with head and neck squamous cell carcinoma. It has a collaboration agreement with Junshi Biosciences for the co-development and commercialization of toripalimab; agreements 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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $42M | $-170M | $168M | $-139M | 275.4% | 59.8% | 489.4% |
| 2024 | $26M | $-199M | $29M | $-20M | -21.6% | -89.7% | -112.0% |
| 2023 | $257M | $-194M | $-238M | $-175M | 123.0% | 21.9% | -18.5% |
| 2022 | $211M | $-256M | $-292M | $-241M | 212.3% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 211.04 | 257.24 | 26.39 | 42.17 |
| Operating Revenue | - | 211.04 | 257.24 | 26.39 | 42.17 |
| Cost Of Revenue | - | 70.08 | 158.99 | 8.73 | 13.81 |
| Gross Profit | - | 140.96 | 98.25 | 17.66 | 28.36 |
| Operating Expense | - | 397.84 | 301.45 | 217.32 | 209.49 |
| Research And Development | - | 199.36 | 109.44 | 91.83 | 108.89 |
| Selling General And Administration | - | 198.48 | 192.02 | 125.48 | 100.60 |
| Total Expenses | - | 467.92 | 460.44 | 226.04 | 223.31 |
| Operating Income | - | -256.88 | -203.20 | -199.65 | -181.13 |
| Total Operating Income As Reported | - | -256.88 | -203.20 | -199.65 | -181.13 |
| EBITDA | - | -255.58 | -193.94 | -199.38 | -170.20 |
| Normalized EBITDA | - | -249.36 | -193.94 | -186.75 | -170.20 |
| EBIT | - | -259.28 | -197.73 | -204.66 | -174.12 |
| Interest Expense | - | 32.47 | 40.54 | 10.73 | 9 |
| Net Interest Income | - | -32.47 | -40.54 | -10.73 | -9 |
| Other Non Operating Income Expenses | - | 3.82 | 5.47 | 7.62 | 7.01 |
| Other Income Expense | - | -2.40 | 5.47 | -5.01 | 7.01 |
| Interest Expense Non Operating | - | 32.47 | 40.54 | 10.73 | 9 |
| Net Non Operating Interest Income Expense | - | -32.47 | -40.54 | -10.73 | -9 |
| Pretax Income | - | -291.75 | -238.27 | -215.39 | -183.12 |
| Tax Provision | - | 0 | -0.38 | 0 | 0 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -291.75 | -237.89 | -215.39 | -183.12 |
| Net Income From Continuing And Discontinued Operation | - | -291.75 | -237.89 | 28.51 | 168.02 |
| Net Income From Continuing Operation Net Minority Interest | - | -291.75 | -237.89 | -215.39 | -183.12 |
| Net Income | - | -291.75 | -237.89 | 28.51 | 168.02 |
| Net Income Common Stockholders | - | -291.75 | -237.89 | 28.51 | 168.02 |
| Net Income Including Noncontrolling Interests | - | -291.75 | -237.89 | 28.51 | 168.02 |
| Normalized Income | - | -285.53 | -237.89 | -202.76 | -183.12 |
| Diluted NI Availto Com Stockholders | - | -291.75 | -237.89 | 28.51 | 168.02 |
| Basic Average Shares | 75.45 | 77.63 | 94.16 | 114.55 | - |
| Diluted Average Shares | 75.45 | 77.63 | 94.16 | 114.83 | - |
| Reconciled Depreciation | - | 3.70 | 3.79 | 5.28 | 3.92 |
| Reconciled Cost Of Revenue | - | 70.08 | 158.99 | 8.73 | 13.81 |
| Total Unusual Items | - | -6.22 | 0 | -12.63 | 0 |
| Total Unusual Items Excluding Goodwill | - | -6.22 | 0 | -12.63 | 0 |
| Net Income Discontinuous Operations | - | - | - | 243.90 | 351.15 |
| Special Income Charges | - | -6.22 | 0 | -12.63 | 0 |
| Gain On Sale Of Business | - | 0 | 0 | 176.59 | - |
| Other Special Charges | - | 6.22 | - | 12.63 | - |
| Average Dilution Earnings | 0 | 0 | - | - | - |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Coherus Oncology, Inc.this co. | CHRS | $243M | 1.45 | 3.98 | 275.4% | -1.14 |
| Nuvectis Pharma, Inc. | NVCT | $257M | -9.70 | 13.93 | -143.6% | - |
| Codexis, Inc. | CDXS | $255M | -5.79 | 5.04 | -87.0% | -8.18 |
| Sight Sciences, Inc. | SGHT | $250M | -6.51 | 3.91 | -60.1% | -6.07 |
| Protara Therapeutics, Inc. | TARA | $248M | -4.32 |
| - |
| - |
| - |
| - |
| - |
| - |
| 1.26 |
| -29.2% |
| -3.14 |
| Treace Medical Concepts, Inc. | TMCI | $239M | -4.06 | 2.74 | -67.6% | -6.98 |
| LifeMD, Inc. | LFMD | $236M | 16.41 | 10.17 | 62.0% | -135.17 |
| Arcturus Therapeutics Holdings Inc. | ARCT | $229M | -3.47 | 1.07 | -30.7% | -0.36 |
| Spok Holdings, Inc. | SPOK | $228M | 14.38 | 1.56 | 10.8% | 8.90 |
| Peer Median | - | -4.19 | 3.33 | -45.4% | -6.07 | |