Coherus Oncology, Inc. CHRS
We are a fully integrated commercial-stage innovative oncology company with an approved next-generation programmed death receptor-1 ("PD-1") inhibitor, LOQTORZI® (toripalimab-tpzi), and a pipeline that includes two mid-stage clinical candidates targeting liver, head and neck, colorectal and other cancers. Our strategy is to grow sales of LOQTORZI in nasopharyngeal carcinoma ("NPC") and advance the development of new indications for LOQTORZI in combination with both our pipeline candidates as well as our partners, driving sales multiples and synergies from proprietary combinations. On May 29, 2025, we changed our corporate name from "Coherus BioSciences, Inc." to "Coherus Oncology, Inc." to better align with our exclusive focus on proprietary innovative immuno-oncology medicines following the completion of the recent divestitures of our biosimilar businesses.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $42.2M | $26.4M | $1.2M | $211.0M | $326.6M | $475.8M | $356.1M | $0 | $1.6M | $189.5M |
| Cost of revenue | $13.8M | $8.7M | $438.0K | $70.1M | $57.6M | $37.7M | $17.1M | — | — | — |
| Gross profit | $28.4M | $17.7M | $780.0K | $141.0M | $269.0M | $438.2M | $339.0M | — | — | — |
| R&D | $108.9M | $91.8M | $96.1M | $199.4M | $363.1M | $142.8M | $94.2M | $110.2M | $162.4M | $254.4M |
| SG&A | $100.6M | $125.5M | $120.5M | $198.5M | $169.7M | $139.1M | $137.0M | $94.2M | $71.3M | $51.6M |
| Total operating expenses | $223.3M | $226.0M | $217.0M | $467.9M | $590.4M | $319.5M | $248.3M | $204.4M | $233.7M | $306.0M |
| Operating income | -$181.1M | -$199.7M | -$215.8M | -$256.9M | -$263.9M | $156.3M | $107.8M | -$204.4M | -$232.1M | -$115.9M |
| Interest expense | $9.0M | $10.7M | $11.1M | $32.5M | $23.0M | $21.2M | $17.6M | $9.7M | $9.6M | $8.0M |
| Pre-tax income | -$183.1M | -$215.4M | -$222.1M | -$291.8M | -$287.1M | $135.7M | $92.8M | -$209.4M | -$238.3M | -$127.3M |
| Income tax | $0 | $0 | $380.0K | $0 | $0 | $3.5M | $2.9M | $0 | $0 | $0 |
| Net income | $168.0M | $28.5M | -$237.9M | -$291.8M | -$287.1M | $132.2M | $89.8M | -$209.3M | -$238.2M | -$127.3M |
| EPS, basic | 1.43 | 0.25 | -2.53 | -3.76 | -3.81 | 1.85 | 1.29 | -3.22 | -4.48 | — |
| EPS, diluted | 1.43 | 0.25 | -2.53 | -3.76 | -3.81 | 1.62 | 1.23 | -3.22 | -4.48 | -3.04 |
| Shares, diluted (wtd. avg.) | $117.1M | $114.6M | $94.2M | $77.6M | $75.4M | $83.5M | $73.2M | $65.0M | $53.1M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $88.9M | $126.0M | $103.3M | $63.5M | $417.2M | $541.2M | $177.7M | $72.4M | $127.8M | $125.8M |
| Short-term investments | $83.2M | — | $14.9M | $128.1M | — | — | — | — | — | — |
| Receivables | $17.8M | $111.3M | $260.5M | $110.0M | $123.0M | $157.0M | $142.0M | $0 | — | $1.9M |
| Inventory | $3.2M | $4.2M | $62.6M | $38.8M | $37.6M | $44.2M | $9.8M | $1.7M | — | — |
| Total current assets | $206.7M | $341.6M | $475.6M | $381.2M | $602.3M | $767.5M | $343.0M | $84.4M | $145.5M | $161.5M |
| Property, plant and equipment | $1.3M | $2.6M | $5.1M | $8.8M | $7.8M | $10.1M | $5.8M | $6.7M | $12.8M | $10.8M |
| Goodwill | — | — | $943.0K | $943.0K | $900.0K | $943.0K | $943.0K | $943.0K | $943.0K | $943.0K |
| Other intangibles | $20.0M | $24.8M | $41.9M | $5.9M | $3.6M | $2.6M | $2.6M | $2.6M | $2.6M | $2.6M |
| Total assets | $258.3M | $448.5M | $629.6M | $480.8M | $679.3M | $841.6M | $408.9M | $99.5M | $162.6M | $178.5M |
| Accounts payable | $9.9M | $28.5M | $35.2M | $11.5M | $16.2M | $15.2M | $26.0M | $15.3M | $15.5M | $19.7M |
| Total current liabilities | $140.4M | $283.0M | $331.8M | $138.7M | $165.3M | $145.7M | $115.0M | $33.3M | $28.4M | $56.4M |
| Total liabilities | $197.3M | $580.5M | $823.0M | $618.3M | $581.6M | $560.7M | $303.7M | $138.1M | $132.1M | $159.1M |
| Retained earnings | -$1.38B | -$1.55B | -$1.58B | -$1.34B | -$1.05B | -$762.8M | -$895.0M | -$984.8M | -$775.5M | -$537.3M |
| Total equity | $61.0M | -$132.0M | -$193.4M | -$137.4M | $97.7M | $281.0M | $105.2M | -$38.6M | $30.5M | $19.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$138.5M | -$20.4M | -$174.9M | -$241.1M | -$37.4M | $154.1M | $28.4M | -$159.3M | -$200.3M | -$252.5M |
| Depreciation and amortisation | $1.3M | $1.6M | $1.8M | $3.6M | $3.5M | — | — | — | — | — |
| Stock-based compensation | $17.0M | $27.8M | $43.1M | $50.7M | $51.4M | $38.2M | $33.6M | $34.8M | $33.4M | $27.4M |
| Capital expenditure | — | — | $286.0K | $2.0M | $1.3M | $7.2M | $1.8M | $789.0K | $4.6M | $6.5M |
| Investing cash flow | $375.1M | $230.3M | $144.6M | -$166.8M | -$138.4M | -$14.4M | -$12.7M | -$1.2M | -$4.4M | -$6.5M |
| Financing cash flow | -$273.7M | -$187.0M | $69.6M | $54.3M | $51.9M | $223.9M | $89.4M | $105.4M | $206.8M | $226.2M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-045251.
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