GlobeNewswire·Nov 9, 2026, 4:06 PM ET

Coherus Oncology Reports Third Quarter 2026 Financial Results and Announces Strategic Prioritization Plan

CHRS

Coherus Oncology is focusing development efforts on tagmokitug/toripalimab as a potential best-in-disease treatment for esophageal cancer while deprioritizing other indications to allocate resources.
The company is right-sizing its organization by reducing headcount by approximately 30% to align with forward-focused needs.
LOQTORZI® net revenue for Q3 2026 was reported at $14.0 million, representing a 25% increase over the same period in 2025.
Management expects to lower core quarterly cash burn by $6 million to $7 million over the next two quarters due to the right-sizing initiative.
Tagmokitug is being evaluated in combination with toripalimab for second-line esophageal squamous cell carcinoma (ESCC) and esophageal adenocarcinoma (EAC), with an interim confirmed overall response rate of 33.3% in 13 evaluable patients.
The company plans to align with the FDA on an expedited development path for tagmokitug/toripalimab in the second-line esophageal cancer setting.
Research and development expenses decreased to $22.6 million in Q3 2026 from $27.3 million in Q3 2025, driven by savings from reduced headcount and lower clinical trial costs.
Selling, general, and administrative expenses decreased to $21.2 million in Q3 2026 from $24.9 million in Q3 2025, primarily due to lower headcount and the exit from the biosimilar business.
Net loss from continuing operations for Q3 2026 was $38.9 million, compared to $44.5 million in the same period of 2025.
Cash, cash equivalents, and marketable securities totaled $83.6 million as of September 30, 2026.
Enrollment is complete for the Phase 2 trial of casdozokitug/toripalimab/bevacizumab in first-line unresectable hepatocellular carcinoma, with the first data readout expected in the first half of 2027.
A Phase 1b study evaluating tagmokitug with pasritamig for metastatic castration-resistant prostate cancer is expected to initiate in the fall of 2026.
Coherus intends to pursue ex-U.S. licensing deals for its clinical-stage candidates as clinical data supports such transactions.

Company: Coherus Oncology
Keywords: Nasdaq:CHRS, Coherus Oncology