Coherus BioSciences Inc
For the period ended Mar 31, 2024. Filed May 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
CHRS$0.64-21.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(in thousands)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Three Months Ended | ||||||
| · · March 31, | ||||||
| · 2024 · 2023 | ||||||
| Operating activities · · · | ||||||
| Net income (loss) | | $102,875 | | $(75,729) | ||
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | | | | | ||
| Depreciation and amortization | | 1,507 | | 949 | ||
| Stock-based compensation expense | | 7,319 | | 12,282 | ||
| Impairment of out-license asset and remeasurement of CVR liability, net | | | 6,772 | | | — |
| Gain on Sale Transaction, net (Note 6) | | | (153,647) | | | — |
| Inventory write-downs, net | | | 2,481 | | | 3,241 |
| Other non-cash adjustments, net | | | (2,695) | | | (129) |
| Changes in operating assets and liabilities: | | | | | ||
| Trade receivables, net | | 8,579 | | 8,529 | ||
| Inventory | | | (11,455) | | (2,671) | |
| Prepaid manufacturing | | 9,589 | | 1,861 | ||
| Other prepaid, current and non-current assets | | (4,426) | | 2,057 | ||
| Accounts payable | | 616 | | 11,739 | ||
| Accrued rebates, fees and reserves | | (15,157) | | 1,236 | ||
| TSA related operating assets and liabilities, net (Note 6) | | | (1,424) | | | — |
| Accrued compensation | | 1,559 | | (10,188) | ||
| Accrued and other current and non-current liabilities | | 741 | | (21,909) | ||
| Net cash used in operating activities | | (46,766) | | (68,732) | ||
| | | | | | | |
| Investing activities | | | ||||
| Proceeds from maturities of investments in marketable securities | | 6,200 | | 17,500 | ||
| Proceeds from sale of investments in marketable securities | | | 8,688 | | | — |
| Cash received from Sale Transaction (Note 6) | | | 187,823 | | | — |
| Other investing activities, net | | | 52 | | | 26 |
| Net cash provided by investing activities | | 202,763 | | 17,526 | ||
| | | | | | | |
| Financing activities | | | ||||
| Proceeds from issuance of common stock under ATM Offering, net of issuance costs | | | 1,507 | | | 6,835 |
| Proceeds from issuance of common stock upon exercise of stock options | | 291 | | | 103 | |
| Taxes paid related to net share settlement | | (745) | | | (2,781) | |
| Other financing activities | | | (166) | | | (353) |
| Net cash provided by financing activities | | 887 | | 3,804 | ||
| | | | | | | |
| Net increase (decrease) in cash, cash equivalents and restricted cash | | 156,884 | | (47,402) | ||
| Cash, cash equivalents and restricted cash at beginning of period | | 103,343 | | 63,987 | ||
| Cash, cash equivalents and restricted cash at end of period | | $260,227 | | $16,585 | ||
| | | | | | | |
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