Coherus Biosciences reports Q3 EPS (27c), consensus (31c)

Reports Q3 revenue $74.57M, consensus $83.56M. “With the approval of LOQTORZI(TM) and the closing of the Surface Oncology acquisition, Coherus has all the elements in place to realize its vision of building an innovative immuno-oncology company with a commercial-stage PD-1 inhibitor and a highly competitive, next-generation clinical I-O pipeline focused on the tumor microenvironment,” said Denny Lanfear, Coherus’ chairman and CEO. “Our net revenues of $74.6 million in the third quarter represent an increase of 27% compared to Q2, and our SG&A plus R&D costs year to date have declined 28% compared to the same period last year. Looking forward, we expect further revenue growth driven by CIMERLI(R), the UDENYCA(R) franchise, YUSIMRY(TM), and LOQTORZI(TM), while holding the line on expenses and focusing on returning to profitability.”