Coherus Biosciences: Revenue Misses Expectations Despite Product Growth in Q1 2026
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Key Takeaways
- Coherus Biosciences missed revenue expectations in Q1 2026 by 14 percent with $12.3 million versus expected $14.3 million.
- The oncology drug LOQTORZI generated $11.8 million in revenue and grew 61 percent compared to the prior year quarter.
- Adjusted loss per share was $0.25 and improved 28.6 percent versus $0.35 in the prior year.
- Current liquidity at the current burn rate is sufficient for two to three quarters; additional financing may be necessary.
- Clinical data readouts for pipeline candidates Casdozokitug and Tagmokitug are expected in mid-2026.
Coherus Biosciences (NASDAQ: CHRS) reported on May 11, 2026 for the first quarter 2026 a total revenue of $12.3 million, which fell short of the analyst estimate of $14.3 million by approximately 14 percent. The adjusted loss per share was $0.25, beating the consensus expectation of $0.27 by 7.4 percent.
LOQTORZI drives revenue growth
The oncology drug LOQTORZI – a medication for treating certain cancers – generated revenues of $11.8 million in the first quarter 2026. This represents growth of 61 percent compared to the prior year quarter and accounted for the majority of the company's total revenues. Despite this positive development with LOQTORZI, overall revenues fell short of market expectations.
Loss per share improves versus prior year
The adjusted loss per share of $0.25 marks an improvement of 28.6 percent versus the prior year value of $0.35 in the first quarter 2025. The company was able to reduce its losses on a year-over-year basis, but remains loss-making.
Liquidity and financing needs
According to an analysis by SeekingAlpha from May 13, 2026, the company's current liquidity at the current burn rate is sufficient for two to three quarters. Further financing may be needed before important clinical milestones are reached. This assessment raises questions about the financial stability of the biotechnology company.
Pipeline progress and expected study data
Coherus Biosciences is working on the development of several pipeline candidates. Important data readouts for the drug candidates Casdozokitug and Tagmokitug are expected in mid-2026. These clinical study results are likely to be significant for the company's further strategic direction and potential financing.
The company released the quarterly results during an earnings call on May 11, 2026 at 5:00 p.m. Eastern Time. Carrie Graham, Vice President of Investor Relations, led the presentation.