The EPS beat is overshadowed by a clear revenue miss and heavy dilution from the Q1 offering. Watch for mid-2026 pipeline data readouts (casdozokitug, tagmokitug) as key catalysts; the $167M cash position provides runway but operating burn remains high at ~$58M/quarter.
Price Chart
Executive Summary
Coherus reported Q1 2026 GAAP EPS of -$0.27, beating consensus of -$0.29 by 6.9%, while revenue of $12.3M missed the $14.3M estimate by 14.0%. LOQTORZI revenue grew 61% YoY to $11.8M, but total revenue was dragged lower than expected, and the company completed a dilutive $53.6M equity offering during the quarter.
Key Financial Metrics
Key Facts
- GAAP EPS from continuing operations: -$0.27 vs consensus -$0.29 (beat by 6.9%)
- Revenue: $12.3M vs consensus $14.3M (miss by 14.0%)
- LOQTORZI net product revenue: $11.8M, up 61% YoY from $7.3M
- Net loss from continuing operations improved to -$36.9M from -$47.4M YoY
- Cash, equivalents and marketable securities: $167.0M at quarter-end
- Completed public offering of 32.89M shares for net proceeds of $53.6M in Q1 2026
- Operating cash flow: -$57.9M in Q1 2026 vs -$25.8M in Q1 2025
- Pipeline catalysts: casdozokitug Phase 2 1L HCC data expected mid-2026; tagmokitug multiple readouts in 2026
Financial Impact
Revenue miss of $2.0M (14%) vs consensus; EPS beat of $0.02 (6.9%); $53.6M dilutive equity offering increased share count by ~31%
Risk Factors
- Revenue miss of 14% vs consensus signals weaker-than-expected LOQTORZI adoption
- Dilution of ~31% from Q1 equity offering pressures per-share metrics
- Operating cash burn of -$57.9M in Q1 2026, up from -$25.8M YoY
- Heavy reliance on pipeline data readouts for valuation inflection
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3292299 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 17, 2026 6w ago | Press Release | $1.34 $1.29 | ▼ −4.10% | ▼ −3.11% | $1.16 (−13.43%) |
Jul 22, 2026 10w ago | Press Release | $1.43 $1.33 | ▼ −6.99% | ▼ −9.89% | $1.16 (−18.88%) |
Jun 15, 2026 15w ago | 8-K | $1.38 $1.45 | ▲ +5.07% | ▲ +4.87% | $1.16 (−15.94%) |
Jun 12, 2026 16w ago | Institutional Cluster | $1.40 $1.54 | ▼ −10.00% | ▼ −8.22% | $1.16 (+17.14%) |
May 28, 2026 18w ago | DEFA14A | $1.65 $1.50 | ▼ −9.09% | ▼ −5.95% | $1.16 (−29.70%) |
May 11, 2026 20w ago | Press Release | $1.71 $1.36 | ▼ −20.47% | ▼ −18.74% | $1.16 (−32.16%) |
May 5, 2026 21w ago | DEFA14A | $1.75 $1.47 | ▼ −16.00% | ▼ −18.78% | $1.16 (−33.71%) |
May 4, 2026 21w ago | Press Release | $1.73 $1.57 | ▼ −9.25% | ▼ −14.89% | $1.16 (−32.95%) |
Mar 9, 2026 29w ago | Press Release | $1.95 $1.70 | ▼ −12.82% | ▼ −12.67% | $1.16 (−40.51%) |
Mar 2, 2026 30w ago | Press Release | $1.65 $1.60 | ▼ −3.03% | ▲ +4.91% | $1.16 (−29.70%) |
US Market Status
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