COHERUS BIOSCIENCES Reports Q2 Earnings for FY2023

August 26, 2023

🌥️Earnings Overview

On August 2 2023, COHERUS BIOSCIENCES ($NASDAQ:CHRS) revealed the FY2023 Q2 earnings results, ending on June 30 2023. Their total revenue dipped by 2.4% from the same period in the prior year, totaling USD 58.7 million. However, their reported net income was USD -42.9 million, a marked improvement over the -50.2 million result in the year before.

Market Price

The stock opened at $4.4 and closed at $4.3, which was a 3.3% decrease from its prior closing price of $4.5. COHERUS BIOSCIENCES has been affected by the current economic downturn caused by the pandemic and has yet to fully recuperate. Despite the company’s efforts to diversify its business and focus on developing therapeutic biologics, the earnings report still shows a negative outlook for the future. Investors have been cautious in their approach to COHERUS BIOSCIENCES, and the stock has yet to respond positively to the earnings report. Overall, the company’s Q2 earnings report is a disappointment, but investors should still remain optimistic about its long-term prospects.

The company has shown resilience in the face of the current economic situation and has taken steps towards developing new therapeutic biologics that could lead to successful outcomes in the future. With the right strategies, COHERUS BIOSCIENCES could still be a profitable investment in the future. Live Quote…

About the Company

  • Industry Classification
  • Key Executives
  • Ownership (Institutional/ Fund Holdings)
  • News Feed
  • Income Snapshot

    Below shows the total revenue, net income and net margin for Coherus Biosciences. More…

    Total Revenues Net Income Net Margin
    181.93 -264.12 -145.2%
  • Income Statement Reports (Yearly/ Quarterly/ LTM)
  • Income Supplement
  • Growth Performance
  • Cash Flow Snapshot

    Below shows the cash from operations, investing and financing for Coherus Biosciences. More…

    Operations Investing Financing
    -244.69 -71.46 113.59
  • Cash Flow Statement (Yearly/ Quarterly/ LTM)
  • Cash Flow Supplement
  • Balance Sheet Snapshot

    Below shows the total assets, liabilities and book value per share for Coherus Biosciences. More…

    Total Assets Total Liabilities Book Value Per Share
    469.59 644.36 -1.85
  • Balance Sheet (Yearly/ Quarterly)
  • Balance Sheet Supplement
  • Key Ratios Snapshot

    Some of the financial key ratios for Coherus Biosciences are shown below. More…

    3Y Rev Growth 3Y Operating Profit Growth Operating Margin
    -28.0% -125.1%
    FCF Margin ROE ROA
    -134.9% 76.6% -30.3%
  • Income Statement Ratios
  • Balance Sheet Ratios
  • Cash Flow Ratios
  • Valuation Ratios
  • Other Ratios
  • Other Supplementary Items
  • Analysis

    At GoodWhale, we conducted an extensive financial analysis for COHERUS BIOSCIENCES. After reviewing the financials, we have determined that this company is a high-risk investment. We have identified four major potential risks in the income sheet, balance sheet, cash flow statement, and financial journal. Income sheets can reveal discrepancies in revenue projections between the company‚Äôs internal accounting and its publicly reported information. Balance sheets can indicate an imbalance between assets and liabilities or between short-term and long-term liabilities. Cash flow statements can point to liquidity problems or a lack of ability to meet short-term obligations. Finally, financial journals can identify discrepancies in the actual performance of the business in comparison to what was initially planned. We at GoodWhale believe that it is essential for investors to consider potential risks before making an investment decision. To this end, we have detected four risk warnings in the financials of COHERUS BIOSCIENCES and encourage investors to register with us to learn more. More…

  • Risk Rating Analysis
  • Star Chart Analysis
  • Valuation Analysis




  • Peers

    The company’s mission is to advance patient care by providing high-quality, affordable biosimilar therapies. Coherus has a diversified portfolio of products in various stages of development. The company’s main competitors are Novartis AG, Pfizer Inc, and Sanofi SA.

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    Summary

    COHERUS BIOSCIENCES recently reported its earnings results for the fiscal quarter ending June 30, 2023. Total revenue for the quarter fell by 2.4% year-over-year to USD 58.7 million, while reported net income was -42.9 million, an improvement from the previous year’s -50.2 million. The stock price responded negatively to the earnings announcement, falling on the same day.

    This data suggests that investors remain cautious about the company’s financial prospects, particularly in light of increased competition and other challenges in the biotechnology sector. Moving forward, investors should continue to monitor the company’s financial performance and management decisions to help assess its long-term investment potential.

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