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.
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
Ownership (Institutional/ Fund Holdings)
Below shows the total revenue, net income and net margin for Coherus Biosciences. More…
Income Statement Reports (Yearly/ Quarterly/ LTM)
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Coherus Biosciences. More…
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…
Balance Sheet (Yearly/ Quarterly)
Balance Sheet Supplement
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Key Ratios Snapshot
Some of the financial key ratios for Coherus Biosciences are shown below. More…
Income Statement Ratios
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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’s 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
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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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.