--- title: "Coherus Oncology | 8-K: FY2026 Q2 Revenue Misses Estimate at USD 14.31 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/295019888.md" datetime: "2026-08-05T21:33:55.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/295019888.md) - [en](https://longbridge.com/en/news/295019888.md) - [zh-HK](https://longbridge.com/zh-HK/news/295019888.md) generator: "portal-rs" --- # Coherus Oncology | 8-K: FY2026 Q2 Revenue Misses Estimate at USD 14.31 M Revenue: As of FY2026 Q2, the actual value is USD 14.31 M, missing the estimate of USD 20.44 M. EPS: As of FY2026 Q2, the actual value is USD -0.13. EBIT: As of FY2026 Q2, the actual value is USD -31.02 M. #### LOQTORZI® Revenue LOQTORZI® net revenue was $13.6 million in the second quarter of 2026, representing a 37% increase over $10.0 million in the second quarter of 2025, and a 15% increase compared to $11.8 million in the first quarter of 2026. #### Net Revenue (Continuing Operations) Net revenue from continuing operations for the three months ended June 30, 2026, was $14.3 million, up from $10.3 million for the same period in 2025. For the six months ended June 30, 2026, net revenue was $26.6 million, compared to $17.9 million for the same period in 2025. These increases were primarily driven by volume growth of LOQTORZI®. #### Cost of Goods Sold (COGS) (Continuing Operations) COGS from continuing operations for the three months ended June 30, 2026, was $4.2 million, an increase from $3.4 million for the same period in 2025. For the six months ended June 30, 2026, COGS was $8.1 million, compared to $6.0 million for the same period in 2025. The increases were primarily due to LOQTORZI® volume growth. #### Research and Development (R&D) Expenses (Continuing Operations) R&D expenses from continuing operations were $21.4 million for the three months ended June 30, 2026, a decrease from $26.3 million for the same period in 2025. For the six months ended June 30, 2026, R&D expenses were $43.0 million, down from $50.7 million for the same period in 2025. These decreases were primarily due to savings from reduced headcount, lower infrastructure costs, and lower clinical trial and R&D manufacturing costs. #### Selling, General and Administrative (SG&A) Expenses (Continuing Operations) SG&A expenses from continuing operations were $21.0 million for the three months ended June 30, 2026, compared to $26.0 million for the same period in 2025. For the six months ended June 30, 2026, SG&A expenses were $44.1 million, a decrease from $52.1 million for the same period in 2025. The decreases were primarily driven by lower headcount and decreased operating costs resulting from Coherus Oncology, Inc. completing its exit from the biosimilar business in 2025. #### Loss from Operations Loss from operations for the three months ended June 30, 2026, was -$32.3 million, an improvement from -$45.5 million for the same period in 2025. For the six months ended June 30, 2026, loss from operations was -$68.5 million, compared to -$90.9 million for the same period in 2025. #### Net Loss from Continuing Operations Net loss from continuing operations for the second quarter of 2026 was -$33.3 million, compared to a net loss of -$44.9 million for the same period in 2025. For the first half of 2026, net loss from continuing operations was -$70.3 million, compared to -$92.3 million for the first half of 2025. #### Non-GAAP Net Loss from Continuing Operations Non-GAAP net loss from continuing operations for the second quarter of 2026 was -$30.1 million, compared to -$39.0 million for the same period in 2025. For the first half of 2026, non-GAAP net loss was -$64.1 million, compared to -$79.9 million for the first half of 2025. #### Net Cash Used in Operating Activities Net cash used in operating activities was -$62.1 million for the three months ended June 30, 2026, compared to -$46.6 million for the same period in 2025. For the six months ended June 30, 2026, net cash used in operating activities was -$120.0 million, compared to -$72.5 million for the same period in 2025. #### Net Cash Provided by Investing Activities Net cash provided by investing activities was $29.6 million for the three months ended June 30, 2026, compared to $462.6 million for the same period in 2025. For the six months ended June 30, 2026, net cash provided by investing activities was $60.3 million, compared to $445.2 million for the same period in 2025. #### Net Cash Provided by (Used in) Financing Activities Net cash provided by financing activities was $0.1 million for the three months ended June 30, 2026, compared to net cash used of -$281.5 million for the same period in 2025. For the six months ended June 30, 2026, net cash provided by financing activities was $53.7 million, compared to net cash used of -$281.8 million for the same period in 2025. #### Cash, Cash Equivalents and Marketable Securities Cash, cash equivalents, and marketable securities totaled $105.3 million as of June 30, 2026, down from $172.1 million as of December 31, 2025. These balances included Transition Service Agreement (TSA)-related collections of $22.7 million as of June 30, 2026, and $65.1 million as of December 31, 2025, which will be applied to associated TSA payables and accrued liabilities. #### Outlook / Guidance Coherus Oncology, Inc. anticipates initial data readouts for tagmokitug in various studies (HNSCC, upper gastrointestinal adenocarcinomas, ESCC, and colorectal cancer) in the second half of 2026. The company also expects the first data readout for casdozokitug in 1L uHCC in the second half of 2026 and plans to initiate a Phase 1b clinical study for tagmokitug in mCRPC in the fall of 2026. 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