NASDAQ$CHRS
Coherus Biosciences Inc · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
Reported third quarter results with UDENYCA® net sales of $113.6 million and net income of $27.9 million.
Coherus BioSciences reported strong third-quarter results, driven by UDENYCA® net sales of $113.6 million. The company achieved a net income of $27.9 million, or $0.33 per share, and a non-GAAP net income of $39.7 million, or $0.47 per share. Coherus is focused on expanding its pipeline and addressable market.
- Net product revenue for the third quarter of 2020 was $113.6 million.
- Net income for the third quarter of 2020 was $27.9 million, or $0.33 per share on a diluted basis.
- Non-GAAP income during the third quarter of 2020 was $39.7 million, or $0.47 per share on a diluted basis.
- Cash flow from operating activities was $47.4 million for the third quarter of 2020.
Headline financials
Revenue & EPS history
Coherus · Revenue · Quarterly
$114M
Forward guidance
Coherus will continue to lay the foundation for long-term growth across its three therapeutic areas: Oncology, Ophthalmology and Immunology.
Tailwinds
- Deliver continued unit share growth with UDENYCA® against all Neulasta® dosage forms, while maintaining average selling price (“ASP”) discipline, leveraging the validated branded-biosimilar strategy of offering a robust value proposition across all key customer segments.
- Advance the Company’s biosimilar candidate to Avastin® (bevacizumab) in-licensed from Innovent toward an expected 351(k) BLA submission with the U.S. FDA in 2021, depending on the outcome of the three-way pharmacokinetic (“PK”) study, the timing of required interactions with the FDA, as well as completion of analytical similarity exercises.
- Facilitate Bioeq’s resubmission of a 351(k) BLA with the FDA for the biosimilar candidate to Lucentis® (ranibizumab) in 2021.
- Advance the Company’s internally developed CHS-2020 biosimilar candidate to Eylea® (aflibercept) to a projected Phase 3 clinical trial initiation in 2021, with launch projected in 2025, if approved.
- Submit the 351(k) BLA for the Company’s internally developed Humira® (adalimumab) biosimilar, CHS-1420, by year end 2020, consistent with prior guidance, and continue other activities to advance toward a projected market entry in the United States on or after July 1, 2023, if approved.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2020
+0.3%
Avg return
Earnings day
-2.2%
Avg return
5 days after
-0.2%
Avg return
30 days after
53%
23 / 43 earnings
Positive
+28.8%
Q4 2017
Best reaction
-31.6%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +10.9% | -10.3% | -22.3% | |
| Q4 2025 | +1.6% | -15.5% | -14.5% | |
| Q3 2025 | -9.6% | -8.7% | -19.5% | |
| Q1 2025 | -18.7% | -25.4% | -22.5% | |
| Q4 2024 | +1.0% | -11.5% | -28.7% | |
| Q3 2024 | +12.2% | +6.6% | +132.6% | |
| Q2 2024 | +15.3% | +16.1% | +0.0% | |
| Q1 2024 | -14.8% | -6.7% | -24.2% | |
| Q4 2023 | -3.1% | -0.9% | -0.4% | |
| Q3 2023 | -31.6% | -56.0% | -36.6% | |
| Q2 2023 | +13.8% | +11.8% | +21.4% | |
| Q1 2023 | -19.9% | -33.6% | -27.1% | |
| Q4 2022 | +3.4% | -14.0% | +8.8% | |
| Q3 2022 | -10.4% | -0.4% | -12.7% | |
| Q2 2022 | +17.6% | +9.9% | +1.4% | |
| Q1 2022 | -13.3% | -12.3% | -22.1% | |
| Q4 2021 | -6.5% | -15.6% | +1.0% | |
| Q3 2021 | +4.9% | +4.5% | +1.9% | |
| Q2 2021 | +1.8% | +3.2% | +22.8% | |
| Q1 2021 | -1.6% | -3.2% | -8.8% | |
| Q4 2020 | -6.1% | -1.4% | -10.5% | |
| Q3 2020 | -7.6% | +2.3% | +4.9% | |
| Q2 2020 | +8.0% | +3.2% | +1.4% | |
| Q1 2020 | +6.9% | +4.9% | +16.2% | |
| Q4 2019 | -5.1% | -4.0% | -20.2% | |
| Q3 2019 | +16.4% | +15.1% | +11.1% | |
| Q2 2019 | +19.0% | +15.2% | +31.9% | |
| Q1 2019 | +8.4% | +4.7% | +11.1% | |
| Q4 2018 | +2.4% | +2.6% | -2.8% | |
| Q3 2018 | -19.4% | -10.7% | -16.3% | |
| Q2 2018 | +2.5% | +2.5% | +2.7% | |
| Q1 2018 | +5.8% | +4.5% | +1.8% | |
| Q4 2017 | +28.8% | +35.3% | +23.9% | |
| Q3 2017 | -6.9% | -15.9% | -29.7% | |
| Q2 2017 | +6.3% | -8.3% | +13.4% | |
| Q1 2017 | -1.5% | +13.2% | +4.6% | |
| Q4 2016 | -5.4% | -0.9% | -19.6% | |
| Q3 2016 | +15.7% | +16.1% | +16.6% | |
| Q2 2016 | -3.3% | -1.8% | +1.8% | |
| Q1 2016 | -6.3% | — | — | |
| Q4 2015 | +4.1% | — | — | |
| Q3 2015 | +0.5% | — | — | |
| Q3 2014 | -3.5% | — | — | |
| Q1 2014 | — | — | — | |
| Q4 2013 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — |
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