Coherus Oncology Q3 sales miss estimates

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

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.)