Earnings Releases·Nov 9, 2026, 4:20 PM ET

Coherus Oncology — Third Quarter 2026 Earnings Summary

Net revenue rose 23% year-over-year to $14.3 million in Q3 2026, driven by a 25% increase in LOQTORZI sales to $14.0 million, while net loss narrowed to $38.9 million ($0.25/share) from $44.5 million ($0.38/share) in the prior year period.
Management expects to reduce core cash burn by $6 million to $7 million quarterly over the next two quarters and lowered the revenue threshold to cover burn to $25 million–$30 million per quarter, down from $30 million–$35 million.
The company achieved financial self-sufficiency targets by reducing headcount approximately 30%, exiting its biosimilar business, and aligning with the FDA on an expedited development path for tagmokitug in second-line esophageal cancer.
Cash and marketable securities declined to $83.6 million as of September 30, 2026, from $172.1 million at year-end 2025, while term loans increased to $52.6 million; TSA payables decreased significantly to $19.6 million from $65.1 million.
Pipeline progress includes completed enrollment for casdozokitug in hepatocellular carcinoma with data expected in H1 2027, an ongoing tagmokitug Phase 1b/2a program in esophageal cancer, and a planned Phase 1b study for tagmokitug plus pasritamig in prostate cancer to initiate in fall 2026.