Coherus BioSciences Inc
For the period ended Sep 30, 2024. Filed Nov 6, 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.
Sep 30, 2024 · Filed Nov 6, 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)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Nine Months Ended | ||||||
| · · September 30, | ||||||
| · 2024 · 2023 | ||||||
| Operating activities · · · | ||||||
| Net income (loss) | | $79,203 | | $(158,239) | ||
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | | | | | ||
| Depreciation and amortization | | 4,243 | | 2,728 | ||
| Stock-based compensation expense | | 21,418 | | 32,312 | ||
| Impairment of out-license asset and remeasurement of CVR liability, net | | | 6,772 | | | — |
| Loss on debt extinguishment | | | 12,630 | | | — |
| Gain on Sale Transactions, net (Note 6) | | | (176,646) | | | — |
| Inventory write-downs, net | | | 2,481 | | | 4,369 |
| Other non-cash adjustments, net | | | (505) | | | 78 |
| Changes in operating assets and liabilities: | | | | | ||
| Trade receivables, net | | 93,024 | | (106,626) | ||
| Inventory | | | (25,499) | | (34,941) | |
| Prepaid manufacturing | | 5,582 | | 4,108 | ||
| Other prepaid, current and non-current assets | | (4,306) | | 10,702 | ||
| Accounts payable | | (10,280) | | 24,545 | ||
| Accrued rebates, fees and reserves | | (7,617) | | 60,602 | ||
| TSA related operating assets and liabilities, net (Note 6) | | | 2,396 | | | — |
| Accrued compensation | | (1,039) | | (8,810) | ||
| Accrued and other current and non-current liabilities | | (50,905) | | 7,225 | ||
| Net cash used in operating activities | | (49,048) | | (161,947) | ||
| | | | | | | |
| Investing activities | | | ||||
| Proceeds from maturities of investments in marketable securities | | 6,200 | | 108,148 | ||
| Proceeds from sale of investments in marketable securities | | | 8,688 | | | 13,282 |
| Cash received from CIMERLI Sale (Note 6) | | | 187,823 | | | — |
| Cash received from YUSIMRY Sale (Note 6) | | | 40,000 | | | — |
| Cash and cash equivalents acquired from Surface Acquisition | | | — | | | 6,997 |
| Milestone based license fee payment to Junshi Biosciences | | | (12,500) | | | — |
| Purchases of investments in marketable securities | | — | | (19,507) | ||
| Other investing activities, net | | | 652 | | | 517 |
| Net cash provided by investing activities | | 230,863 | | 109,437 | ||
| | | | | | | |
| Financing activities | | | ||||
| Proceeds from 2029 Term Loan, net of debt discount & issuance costs | | | 36,979 | | | — |
| Proceeds from Revenue Purchase and Sale Agreement, net of issuance costs | | | 36,486 | | | — |
| Proceeds from issuance of common stock under ATM Offering, net of issuance costs | | | 1,455 | | | 18,198 |
| Proceeds from issuance of common stock under Public Offering, net of issuance costs | | | — | | | 53,625 |
| Proceeds from issuance of common stock upon exercise of stock options | | 291 | | | 170 | |
| Proceeds from purchase under the employee stock purchase plan | | 685 | | | 1,337 | |
| Taxes paid related to net share settlement | | (2,466) | | | (3,261) | |
| Repayment of 2027 Term Loans, premiums and exit fees | | | (260,387) | | | — |
| Other financing activities | | | (248) | | | (835) |
| Net cash (used in) provided by financing activities | | (187,205) | | 69,234 | ||
| | | | | | | |
| Net (decrease) increase in cash, cash equivalents and restricted cash | | (5,390) | | 16,724 | ||
| Cash, cash equivalents and restricted cash at beginning of period | | 103,343 | | 63,987 | ||
| Cash, cash equivalents and restricted cash at end of period | | $97,953 | | $80,711 | ||
| | | | | | | |
| Supplemental disclosures of non-cash activities | | | | | ||
| Non-cash employee bonuses settled in common stock | | $4,408 | | $— | ||
| Financing issuance costs in accounts payable | | $859 | | $— | ||
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