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Coherus Oncology Q3 sales miss estimates

By Reuters News


Overview

  • Oncology drug developer's Q3 sales rose 25% yr/yr but missed analyst expectations

  • Adjusted net loss from continuing ops for Q3 narrowed and beat analyst estimates


Outlook

  • Company to focus on growing LOQTORZI market share over the next four to five qtrs

  • Company expects to lower core cash burn by $6 mln to $7 mln per qtr over next two qtrs

  • Company lowers required quarterly LOQTORZI revenue to cover core burn to $25 mln-$30 mln


Result Drivers

  • PATIENT GROWTH - Co said Q3 LOQTORZI revenue growth was driven by more patients on therapy and longer treatment duration

  • VOLUME GROWTH - Co attributed higher Q3 revenue mainly to increased LOQTORZI sales volume

  • COST SAVINGS - Co said R&D expense fell due to lower headcount, infrastructure, and clinical trial costs


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Sales

Miss

$14.27 mln

$16.005 mln (6 Analysts)

Q3 Adjusted Net Loss From Continuing Ops

Beat

$31.21 mln

$33.69 mln (3 Analysts)

Q3 Net Loss

$39.33 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the pharmaceuticals peer group is "buy"

  • Wall Street's median 12-month price target for Coherus Oncology Inc is $7.00, about 809.1% above its November 6 closing price of $0.77


Reuters Recommended Reads

  • Nov 9 - ADC Therapeutics Q3 revenue beats estimates on sales volume

  • Nov 9 - TG Therapeutics Q3 product revenue rises on BRIUMVI sales; lifts 2026 outlook

  • Nov 9 - Ionis Pharmaceuticals Q3 revenue rises 55%


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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