Coherus BioSciences, Inc. (NASDAQ: CHRS) recently announced its preliminary unaudited financial results for the quarter and fiscal year ended December 31, 2024. The company is set to present these results in a public webcast at the 42nd Annual J.P. Morgan Healthcare Conference on January 13, 2025.
In the preliminary financial information to be shared during the webcast, Coherus BioSciences will reveal its net revenues for the fourth quarter and full year of 2024, along with its cash, cash equivalents, and investments as of December 31, 2024. Interested parties can access the webcast on the Company’s investor relations website.
Moreover, the Company disclosed that due to robust demand in the fourth quarter of 2024 and into the first quarter of 2025, all presentations of UDENYCA are currently being temporarily allocated. The Company clarified that the information shared in the Form 8-K filing and Exhibit 99.1 should not be considered as filed under the Securities Exchange Act of 1934 or subject to liabilities as such.
In the attached Exhibit 99.1, Coherus BioSciences provided further insights into its preliminary financial performance for 2024. The expected net revenues for the year are projected to be between $255 million and $260 million, with strong sales numbers for key products like UDENYCA and LOQTORZI.
The company anticipates reporting year-end cash, cash equivalents, and investments at around $125 million. It also disclosed plans to utilize proceeds from the expected divestiture of the UDENYCA Franchise to repay its $230 million convertible notes due in April 2026.
Coherus BioSciences is expecting a positive trajectory with a cash runway projection exceeding two years, taking into account key data readouts anticipated in 2026. The complete financial results for the fourth quarter and full year 2024 are slated for release in March 2025.
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Coherus BioSciences’s 8K filing here.
About Coherus BioSciences
Coherus BioSciences, Inc, a biopharmaceutical company, focuses on the research, development, and commercialization of cancer treatments primarily in the United States. The company develops UDENYCA, a biosimilar to Neulasta, a long-acting granulocyte-colony stimulating factor; LOQTORZI, a novel PD-1 inhibitor; and Casdozokitug, an investigational recombinant human immunoglobulin isotype G1 (IgG1) monoclonal antibody targeting interleukin 27.
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