Coherus Oncology (NASDAQ:CHRS) Announces Quarterly Earnings Results

Key Points

• Coherus beat quarterly EPS expectations, reporting a loss of $0.19 per share versus the anticipated $0.24 loss, while revenue of $14.31 million was slightly below estimates.
• LOQTORZI sales rose 15% quarter over quarter to $13.6 million, and management maintained its 2026 revenue outlook of $57 million to $62 million. Several tagmokitug and casdozokitug studies have completed enrollment, with key data expected later this year.
• Cash declined to $105.3 million from $167 million, largely due to $39 million in transition-service obligations, though management said funding remains sufficient through major 2026–2027 clinical readouts. Shares fell 2% to $1.45, despite analysts maintaining a “Moderate Buy” consensus and an $8.67 average price target.

Coherus Oncology (NASDAQ:CHRS - Get Free Report) released its quarterly earnings results on Wednesday. The biotechnology company reported ($0.19) EPS for the quarter, topping analysts' consensus estimates of ($0.24) by $0.05, FiscalAI reports. The business had revenue of $14.31 million during the quarter, compared to analysts' expectations of $14.41 million. Coherus Oncology had a net margin of 397.30% and a negative return on equity of 198.90%.

Here are the key takeaways from Coherus Oncology's conference call:

• LOQTORZI sales increased 15% quarter over quarter to $13.6 million, supported by the highest number of new patient starts since launch, lower discontinuations, and gradually improving treatment duration. Management reiterated its 2026 revenue outlook of $57 million to $62 million and expects average quarterly growth of 10% to 15%.
• Tagmokitug studies in head and neck cancer and colorectal cancer, along with the casdozokitug first-line HCC study, have completed enrollment. Early, immature data in PD-1-resistant head and neck cancer showed manageable safety and signs of activity, potentially enriched among HPV-positive patients and those with higher TIRI scores; a formal update is expected in October.
• Casdozokitug HCC data are expected in the fourth quarter, but the study remains relatively immature, with only about half of patients having received three scans. Management said it may not need to wait for overall-survival data to decide on a potential Phase III program, while emphasizing response durability, clinical benefit rate, ctDNA, and IL-27 biomarkers.
• Cash, cash equivalents, and investments declined to $105.3 million from $167 million in the prior quarter, primarily because of $39 million in transition-service-agreement obligations. The company said it remains funded through key 2026–2027 readouts, but the $37.5 million Q2 UDENYCA divestiture milestone was not achieved, subject to final buyer-result adjustments.
• Continuing-operations R&D and SG&A expenses fell year over year, and the company expects full-year 2026 operating expenses of $170 million to $175 million. Legacy biosimilar liabilities also declined substantially and are expected to be largely settled by year-end.

Coherus Oncology Trading Down 2.0%

Shares of CHRS stock traded down $0.03 on Wednesday, hitting $1.45. 992,580 shares of the company's stock traded hands, compared to its average volume of 1,522,866. The stock has a market capitalization of $223.66 million, a price-to-earnings ratio of 0.87 and a beta of 0.98. The company's fifty day simple moving average is $1.47 and its 200 day simple moving average is $1.67. Coherus Oncology has a one year low of $0.81 and a one year high of $2.62. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 1.56.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC increased its holdings in shares of Coherus Oncology by 52,980.1% in the first quarter. Acadian Asset Management LLC now owns 196,927 shares of the biotechnology company's stock worth $158,000 after buying an additional 196,556 shares during the period. Geode Capital Management LLC grew its position in Coherus Oncology by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,676,476 shares of the biotechnology company's stock worth $1,958,000 after acquiring an additional 20,976 shares during the last quarter. XTX Topco Ltd grew its position in Coherus Oncology by 65.3% during the 2nd quarter. XTX Topco Ltd now owns 91,739 shares of the biotechnology company's stock worth $67,000 after acquiring an additional 36,257 shares during the last quarter. Invesco Ltd. increased its stake in Coherus Oncology by 11.5% in the 2nd quarter. Invesco Ltd. now owns 208,271 shares of the biotechnology company's stock worth $152,000 after purchasing an additional 21,550 shares during the period. Finally, Jane Street Group LLC bought a new stake in Coherus Oncology in the second quarter valued at approximately $46,000. 72.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Guggenheim initiated coverage on shares of Coherus Oncology in a report on Monday, May 11th. They set a "buy" rating and a $12.00 price objective for the company. Weiss Ratings upgraded Coherus Oncology from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, May 13th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Coherus Oncology presently has a consensus rating of "Moderate Buy" and a consensus price target of $8.67.

About Coherus Oncology

Coherus Oncology, Inc is a commercial-stage biopharmaceutical company focused on the development, manufacturing and commercialization of biologic therapies for oncology support and immuno-oncology. Founded in 2010 and headquartered in Redwood City, California, Coherus specializes in biosimilar versions of established oncology agents as well as novel immunotherapy candidates.

The company's lead marketed products include Udenyca (pegfilgrastim-cbqv) and Fulphila (pegfilgrastim-jmdb), biosimilars to Amgen's Neulasta, which are designed to reduce the incidence of infection in patients undergoing myelosuppressive chemotherapy.

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