COHERUS BIOSCIENCES Reports Second Quarter Earnings Results for 2023 Fiscal Year
August 24, 2023
🌥️Earnings Overview
COHERUS BIOSCIENCES ($NASDAQ:CHRS) announced their financial results for the second quarter of their 2023 fiscal year, which concluded on June 30, 2023. Revenues in this quarter were USD 58.7 million, a decrease of 2.4% compared to the same quarter in the preceding year. Net income for the quarter was USD -42.9 million, improving from the -50.2 million reported the year prior.
Price History
The company’s stock opened at $4.4 and closed at $4.3, representing a decline of 3.3% from its previous closing price of $4.5. This was the first time since April that the stock had closed lower than its opening. COHERUS BIOSCIENCES has seen strong growth in its business over the past few years. The company’s biologics platform has enabled it to develop a number of generic drugs as well as biosimilars, which are alternatives to expensive brand-name biologic treatments. It is expected that the company will continue to benefit from growing demand for these treatments in the coming quarters. Live Quote…
About the Company
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% |
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 |
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 |
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% |
Analysis
As GoodWhale, we have analyzed the fundamentals of COHERUS BIOSCIENCES and found that its health score on cashflows and debt is low, at 3/10. This indicates that in times of crisis, the company may not be able to sustain future operations. However, COHERUS BIOSCIENCES is strong in profitability and medium in growth. It is also weak in asset and dividend. We classify it as an ‘elephant’, a type of company with rich assets after deducting off liabilities. Given these characteristics, investors who focus on assets and profitability may be interested in this company. They could benefit from the company’s profitability as well as its potential to generate wealth. On the other hand, those looking for dividends and growth may be less likely to invest in COHERUS BIOSCIENCES. More…
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
For the second quarter of its 2023 fiscal year, COHERUS BIOSCIENCES reported a total revenue of USD 58.7 million, a decrease of 2.4% compared to the same quarter the previous year. Net income for the quarter was USD -42.9 million, which is an improvement from -50.2 million reported in the same quarter last year. The company’s stock price moved down the same day, indicating that investors remain uncertain about the impact of the current performance and outlook on future performance. Therefore, investors should consider carefully before investing in this company as there are risks associated with the current and future performance of COHERUS BIOSCIENCES.
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