Coherus Loss Widens On Research Expenses

(RTTNews) - Coherus BioSciences Inc (CHRS), a biosimilars company with late-stage clinical products, on Monday reported fourth-quarter net loss of $29.1 million or $1.47 per share compared with a loss of $14.6 million or $3.68 per share last year.

Revenues for the quarter were higher at $6.5 million compared with $1.2 million in the prior year, helped by the recognition of Baxter collaboration revenue.

The company said the wider loss mainly reflects an increase in research and development expenses to $26.9 million from $9.2 million last year. This was due mainly to costs associated with the advancement of late-stage clinical product candidates, CHS-0214 and CHS-1701.