Coherus BioSciences Inc
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Coherus BioSciences Inc AI Insights
Informational only. Not investment advice.Snapshot
- Net income of 155M TTM on 278M revenue (56% margin) vs industry median loss - driven by non-operating gains, not core ops[Net Income TTM]
- FCF of -90M TTM despite positive net income; cash burn rate implies ~14 months runway at 103M cash[Free Cash Flow TTM]
- 5Y revenue CAGR of -37% vs industry median +9% - structural decline in biosimilar portfolio[Total Revenue 5 Year Growth]
Watch Triggers
- Cash and Equivalents: Falls below 50M — Would signal <6 months runway, forcing dilutive financing or fire-sale
- Operating Income TTM: Turns positive — Would validate cost cuts working; currently -93M with no path to breakeven
- Total Revenue TTM: Stabilizes or grows QoQ — 5Y decline of -37% must reverse to justify any equity value
Bull Case
EV of 97M is only 0.35x TTM revenue - deep value if pipeline delivers; tangible book of 38M provides floor
Gross margin of 56% TTM above industry median (51%) shows pricing power in biosimilar portfolio despite volume decline
Bear Case
Operating loss of -93M TTM with R&D of 100M; core business unprofitable and burning cash faster than revenue
Revenue declined 37% over 5Y while industry grew 9%; biosimilar competition eroding market share with no reversal catalyst
Bull vs Bear Balance
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Forward Thesis
Cash runway exhaustion within 18 months without dilution or asset sale
- FCF burn of -90M TTM with only 103M cash
- Current liabilities of 374M exceed current assets of 461M net of receivables
- No dividend/buyback capacity; equity issuance likely
Valuation Context
Caveats
CHRS Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$226.65M | — | ||
$163.99M | — | ||
1.5 | — | ||
$277.73M | -8.7% | — | |
$1.33 | — | ||
-33.4% | +12.1% | — | |
55.8% | +55.9% | — | |
$-90.19M | — | ||
0% | — | ||
Beta 5Y (Monthly) | unknown | — |
CHRS Dividend History
CHRS Stock Splits
CHRS SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
11/06/25 | 09/30/25 | 10-Q | |
08/07/25 | 06/30/25 | 10-Q | |
05/12/25 | 03/31/25 | 10-Q | |
03/17/25 | 12/31/24 | 10-K | |
11/06/24 | 09/30/24 | 10-Q | |
08/08/24 | 06/30/24 | 10-Q | |
05/09/24 | 03/31/24 | 10-Q | |
03/15/24 | 12/31/23 | 10-K | |
11/06/23 | 09/30/23 | 10-Q | |
08/02/23 | 06/30/23 | 10-Q | |
05/08/23 | 03/31/23 | 10-Q | |
03/06/23 | 12/31/22 | 10-K | |
11/08/22 | 09/30/22 | 10-Q | |
08/04/22 | 06/30/22 | 10-Q | |
05/05/22 | 03/31/22 | 10-Q | |
02/23/22 | 12/31/21 | 10-K | |
11/08/21 | 09/30/21 | 10-Q | |
08/05/21 | 06/30/21 | 10-Q | |
05/06/21 | 03/31/21 | 10-Q | |
02/25/21 | 12/31/20 | 10-K | |
11/05/20 | 09/30/20 | 10-Q | |
08/06/20 | 06/30/20 | 10-Q | |
05/07/20 | 03/31/20 | 10-Q | |
02/27/20 | 12/31/19 | 10-K | |
11/08/19 | 09/30/19 | 10-Q | |
08/05/19 | 06/30/19 | 10-Q | |
05/09/19 | 03/31/19 | 10-Q | |
02/28/19 | 12/31/18 | 10-K | |
11/08/18 | 09/30/18 | 10-Q | |
08/08/18 | 06/30/18 | 10-Q | |
05/10/18 | 03/31/18 | 10-Q | |
03/08/18 | 12/31/17 | 10-K | |
11/06/17 | 09/30/17 | 10-Q | |
08/07/17 | 06/30/17 | 10-Q | |
05/08/17 | 03/31/17 | 10-Q | |
03/14/17 | 12/31/16 | 10-K | |
11/09/16 | 09/30/16 | 10-Q | |
08/09/16 | 06/30/16 | 10-Q | |
05/09/16 | 03/31/16 | 10-Q | |
02/29/16 | 12/31/15 | 10-K | |
11/10/15 | 09/30/15 | 10-Q | |
08/10/15 | 06/30/15 | 10-Q | |
05/11/15 | 03/31/15 | 10-Q | |
03/23/15 | 12/31/14 | 10-K | |
12/15/14 | 09/30/14 | 10-Q | |
11/06/14 | 06/30/14 | 424B4 | |
05/11/15 | 03/31/14 | 10-Q | |
11/06/14 | 12/31/13 | 424B4 | |
12/15/14 | 09/30/13 | 10-Q |