Coherus Oncology, Inc. (CHRS) Stock

Coherus Oncology, Inc. (CHRS) is a Healthcare stock trading at $1.41 (as of 2026-08-21), with a market capitalization of $217.85M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Coherus Oncology, Inc. is a biopharmaceutical company that researches, develops, and commercializes therapies for cancer and other conditions. Its portfolio includes immunotherapies such as the UDENYCA biosimilar and investigational antibodies and agents including LOQTORZI and multiple candidates targeting immune or tumor-related pathways.

Understand Coherus Oncology, Inc.: how it makes money

Coherus Oncology develops and commercializes cancer immunotherapies, including the UDENYCA biosimilar, LOQTORZI, and Lactorsi, and it makes money through sales of these therapies in the United States.

Profitability depends on scaling net product revenues from its marketed immunotherapies, because the latest quarter shows very large operating losses (operating margin -293.7%) despite a positive gross margin (gross margin 69.0%).

Business quality (Weak): The company has multiple immunotherapy products and tracks product- and adoption-related operating metrics, but the latest quarter financials indicate near zero total revenue (0.0B) with deeply negative operating margin (-293.7%), so investors must focus on whether commercial sales can grow meaningfully.

Valuation: At 1× earnings, CHRS trades 95% below the Pharmaceutical Products average (17×). Note: one-time items can distort reported P/E.

Bull case

Commercial footprint and multiple product programs: It researches, develops, and commercializes cancer immunotherapies in the United States, including UDENYCA (biosimilar to Neulasta) and LOQTORZI (a next-generation PD-1 inhibitor).
Adoption and payer reach for Lactorsi are measurable: Operational tracking includes Lactorsi usage by National Comprehensive Cancer Network institutions (33), New Accounts Starting Lactorsi (75), and Lactorsi Payer Coverage (Medical Benefit Lives and Health Plans) (85%).
Gross margin is positive in the latest quarter: For the period ended 2026-03-31, gross margin is 69.0%.

Bear case

Operating losses are very large: For the period ended 2026-03-31, operating margin is -293.7%.
Total revenue is shown as 0.0B in the provided quarter: The latest quarter financials list revenue_b as 0.0B, indicating the company is not yet generating meaningful top-line scale in the provided data.
Repeat use and basket trends suggest execution risk: The tracked Repeat Use by Former Users is 25.0%, and the Average Decline in Oncology Product Basket is 10.0%.

Valuation — source: SEC EDGAR (first-party)
Price	$1.41
Market Cap	$217.85M
Price / Book	3.58
Price / Sales	4.31

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$42.17M
Net Margin	398.4%
Revenue Growth (YoY)	-84.2%
EPS Growth (YoY)	472.0%

Financial Health — source: SEC EDGAR
Altman Z-Score	-8.69 (distress)

Valuation vs Sector & Industry
Sector P/E (Healthcare)	21.7
Industry P/E (Pharmaceutical Products)	17.2

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock Fund Advisors ($43.91M)
Institutional Holders Tracked	10
Congressional Trades (recent)	1

Company
Sector	Healthcare
Industry	Pharmaceutical Products
CEO	Dennis Lanfear
Employees	228
Country	US
IPO Date	2014-11-06

Related Companies (Business model: Biotech (Clinical / Commercial-Stage); 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.