Coherus BioSciences Q2 2024 10-Q: SG&A Expenses Detailed
Ticker: CHRS · Form: 10-Q · Filed: Aug 8, 2024 · CIK: 1512762
Sentiment: neutral
Topics: expenses, stock-offering, financials
TL;DR
Coherus BioSciences Q2 2024 10-Q shows $115.2M in SG&A expenses.
AI Summary
Coherus BioSciences, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported Selling, General & Administrative Expense of $112.2 million for the first quarter of 2024 and $115.2 million for the second quarter of 2024. The filing also details various stock offerings, including an "At Market Offering" in Q1 2024 and a "Public Offering" in Q2 2023.
Why It Matters
This filing provides insight into Coherus BioSciences' operational costs, specifically their Selling, General & Administrative expenses, which are crucial for understanding their financial health and investment in market growth.
Risk Assessment
Risk Level: medium — The filing details significant SG&A expenses and stock offerings, which can indicate both growth initiatives and potential dilution or financial strain.
Key Numbers
- $112.2M — Selling, General & Administrative Expense (Q1 2024)
- $115.2M — Selling, General & Administrative Expense (Q2 2024)
Key Players & Entities
- Coherus BioSciences, Inc. (company) — Filer
- Dennis M. Lanfear (person) — Contact Person for Business and Mail Address
- $112.2 million (dollar_amount) — Selling, General & Administrative Expense for Q1 2024
- $115.2 million (dollar_amount) — Selling, General & Administrative Expense for Q2 2024
- June 30, 2024 (date) — Reporting Period End Date
FAQ
What were Coherus BioSciences' total revenues for the period ending June 30, 2024?
The provided text does not contain information on total revenues for the period ending June 30, 2024.
What is the nature of the 'At Market Offering' mentioned in the filing?
The filing indicates 'At Market Offering' transactions related to 'Additional Paid In Capital' and 'Common Stock' during Q1 2024 and Q2 2023.
What was the net income or loss for Coherus BioSciences in Q2 2024?
The provided text does not specify the net income or loss for Coherus BioSciences in Q2 2024.
What specific products or services are associated with the 'BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES)' SIC code?
The filing does not provide specific product or service details beyond the general SIC code classification.
What was the total amount raised from the 'Public Offering' in Q2 2023?
The provided text mentions a 'Public Offering' in Q2 2023 related to 'Additional Paid In Capital' but does not specify the amount raised.
Filing Stats: 4,421 words · 18 min read · ~15 pages · Grade level 19 · Accepted 2024-08-08 16:39:04
Key Financial Figures
- $0.0001 — nge on which registered Common Stock, $0.0001 par value per share CHRS The Nasdaq
Filing Documents
- chrs-20240630x10q.htm (10-Q) — 2806KB
- chrs-20240630xex10d3.htm (EX-10.3) — 157KB
- chrs-20240630xex10d4.htm (EX-10.4) — 92KB
- chrs-20240630xex10d5.htm (EX-10.5) — 314KB
- chrs-20240630xex31d1.htm (EX-31.1) — 14KB
- chrs-20240630xex31d2.htm (EX-31.2) — 15KB
- chrs-20240630xex32d1.htm (EX-32.1) — 12KB
- 0001558370-24-011629.txt ( ) — 12118KB
- chrs-20240630.xsd (EX-101.SCH) — 81KB
- chrs-20240630_cal.xml (EX-101.CAL) — 90KB
- chrs-20240630_def.xml (EX-101.DEF) — 362KB
- chrs-20240630_lab.xml (EX-101.LAB) — 634KB
- chrs-20240630_pre.xml (EX-101.PRE) — 517KB
- chrs-20240630x10q_htm.xml (XML) — 2069KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 36 ITEM 3 Quantitative and Qualitative Disclosure About Market Risk 53 ITEM 4
Controls and Procedures
Controls and Procedures 54 PART II OTHER INFORMATION 55 ITEM 1.
Legal Proceedings
Legal Proceedings 55 ITEM 1A.
Risk Factors
Risk Factors 55 ITEM 2 Unregistered Sales of Equity Securities and Use of Proceeds, and Issuer Purchases of Equity Securities 111 ITEM 3 Defaults Upon Senior Securities 111 ITEM 4 Mine Safety Disclosures 111 ITEM 5 Other Information 111 ITEM 6. Exhibits 112 Exhibit Index 112
Signatures
Signatures 114 UDENYCA, UDENYCA ONBODY and LOQTORZI, whether or not appearing in large print or with the trademark symbol, are trademarks of Coherus, its affiliates, related companies or its licensors or joint venture partners, unless otherwise noted. Trademarks and trade names of other companies appearing in this Quarterly Report on Form 10-Q are, to the knowledge of Coherus, the property of their respective owners. 2 Table of Contents CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements regarding future events and our future results that are subject to the safe harbors created under the Securities Act of 1933, as amended (the "Securities Act"), and the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Any statements contained herein that are not statements of historical facts contained in this Quarterly Report on Form 10-Q may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by words such as "aim," "anticipate," "assume," "attempt," "believe," "contemplate," "continue," "could," "due," "estimate," "expect," "goal," "intend," "may," "objective," "plan," "predict," "potential," "seek," "should," "strive," "target," "will," "would" and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology. These forward-looking statements include, but are not limited to, statements about: whether we will be able to continue to maintain or increase sales for our products; our expectations regarding our ability to develop and commercialize our product candidates ; our ability to maintain regulatory approval for our products and our ability to obtain and maintain regulatory approval of our product candidates, if and when approved; our expectations regarding government and third-party payer coverage and reimbursement; our abilit
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Unaudited Condensed Consolidated Financial Statements
ITEM 1. Unaudited Condensed Consolidated Financial Statements Coherus BioSciences, Inc. Condensed Consolidated Balance Sheets (in thousands, except share and per share data) (unaudited) June 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 159,240 $ 102,891 Investments in marketable securities — 14,857 Trade receivables, net 175,251 260,522 TSA receivables, net (Note 6) 138,317 — Inventory 62,162 62,605 Prepaid manufacturing 9,179 23,657 Other prepaids and current assets 13,782 11,099 Total current assets 557,931 475,631 Property and equipment, net 3,334 5,119 Inventory, non-current 49,879 67,495 Intangible assets, net 55,455 71,673 Other assets, non-current 8,256 9,686 Total assets $ 674,855 $ 629,604 Liabilities and Stockholders' Deficit Current liabilities: Accounts payable $ 76,818 $ 35,219 Accrued rebates, fees and reserves 177,455 169,645 TSA payables and other accrued liabilities (Note 6) 133,536 — Accrued compensation 14,152 21,521 Accrued and other current liabilities 61,044 105,386 Total current liabilities 463,005 331,771 Term loans, non-current 36,541 246,481 Convertible notes 227,555 226,888 Lease liabilities, non-current 4,165 5,328 Other liabilities, non-current 27,697 12,561 Total liabilities 758,963 823,029 Commitments and contingencies (Note 9) Stockholders' deficit: Preferred stock ($ 0.0001 par value; shares authorized: 5,000,000 ; shares issued and outstanding: 0 at June 30, 2024 and December 31, 2023) — — Common stock ( $ 0.0001 par value; shares authorized: 300,000,000 ; shares issued and outstanding : 115,198,655 and 112,215,260 at June 30, 2024 and December 31, 2023, respectively) 12 11 Additional paid-in capital 1,405,698 1,386,312 Accumulated other comprehensive loss ( 272 ) ( 248 ) Accumulated deficit ( 1,489,546 ) ( 1,579,500 ) Total stockholde