Coherus Oncology, Inc.
For the period ended Dec 31, 2024. Filed Mar 17, 2025.
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FY2024 · Filed Mar 17, 2025
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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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(in thousands)
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · · Years Ended December 31, | |||||||||
| · · 2024 · 2023 · 2022 | |||||||||
| Operating activities · · · · | |||||||||
| Net income (loss) | | $28,507 | | $(237,892) | | $(291,754) | |||
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | | | | | | | |||
| Depreciation and amortization | | 5,276 | | 3,791 | | 3,699 | |||
| Stock-based compensation expense | | 27,802 | | 43,110 | | 50,737 | |||
| Impairment of out-license asset and remeasurement of CVR liability, net | | | 6,772 | | | — | | | — |
| Loss on debt extinguishment | | | 12,630 | | | — | | | 6,222 |
| Gain on Sale Transactions, net (Note 6) | | | (176,589) | | | — | | | — |
| Inventory write-downs, net | | | 14,143 | | | 52,595 | | | 26,000 |
| Non-cash interest expense from amortization of debt and other financial liabilities discount and issuance costs | | | 4,159 | | | 2,407 | | | 6,431 |
| Non-cash operating lease expense | | 1,394 | | | 2,476 | | | 2,503 | |
| Option payment to Junshi Biosciences | | — | | — | | 35,000 | |||
| Change in fair value of derivatives | | | 5,043 | | | 375 | | | — |
| Other non-cash adjustments, net | | | (5,471) | | | (4,920) | | | (705) |
| Changes in operating assets and liabilities: | | | | | | | |||
| Trade receivables, net | | 149,350 | | (150,683) | | 13,052 | |||
| Inventory | | (31,952) | | (46,734) | | (47,348) | |||
| Prepaid manufacturing | | 4,664 | | 2,027 | | (4,214) | |||
| Other prepaid, current and non-current assets | | (838) | | 16,155 | | (13,424) | |||
| Accounts payable | | (3,938) | | 23,760 | | (4,548) | |||
| Accrued rebates, fees and reserves | | (6,065) | | 113,105 | | (24,566) | |||
| Accrued compensation | | 1,549 | | (5,373) | | 596 | |||
| Accrued and other current and non-current liabilities | | | (56,876) | | 10,917 | | 1,195 | ||
| Net cash used in operating activities | | (20,440) | | (174,884) | | (241,124) | |||
| | | | | | | | | | |
| Investing activities | | | | ||||||
| Proceeds from maturities of investments in marketable securities | | 6,200 | | 144,360 | | — | |||
| 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 as part of the Surface Acquisition | | | — | | | 6,997 | | | — |
| Milestone and option payments to Junshi Biosciences | | | (12,500) | | | — | | | (35,000) |
| Purchases of investments in marketable securities | | — | | (19,507) | | (127,382) | |||
| Other investing activities, net | | | 110 | | | (492) | | | (4,468) |
| Net cash provided by (used in) investing activities | | 230,321 | | 144,640 | | (166,850) | |||
| | | | | | | | | | |
| Financing activities | | | | ||||||
| Proceeds from 2029 Term Loan, net of debt discount and 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 | | | 18,093 | | | 6,358 |
| 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 | | 694 | | 691 | ||
| Proceeds from purchase under the employee stock purchase plan | | | 926 | | 1,809 | | 2,320 | ||
| Taxes paid related to net share settlement | | | (2,476) | | (3,587) | | (3,744) | ||
| Proceeds from 2027 Term Loans, net of debt discount and issuance costs | | | — | | | — | | | 240,679 |
| Repayment of 2022 Convertible Notes and premiums | | | — | | | — | | | (109,000) |
| Repayment of 2025 Term Loan, premiums and exit fees | | | — | | | — | | | (81,750) |
| Repayment of 2027 Term Loans, premiums and make-whole | | | (260,387) | | | — | | | — |
| Other financing activities | | | (248) | | | (1,034) | | | (1,228) |
| Net cash (used in) provided by financing activities | | (186,974) | | 69,600 | | 54,326 | |||
| | | | | | | | | | |
| Net increase (decrease) in cash, cash equivalents and restricted cash | | 22,907 | | 39,356 | | (353,648) | |||
| Cash, cash equivalents and restricted cash at beginning of period | | 103,343 | | 63,987 | | 417,635 | |||
| Cash, cash equivalents and restricted cash at end of period | | $126,250 | | $103,343 | | $63,987 | |||
| | | | | | | | | | |
| Supplemental disclosure of cash flow information | | | | ||||||
| Cash paid for interest | | $25,376 | | $37,857 | | $34,878 | |||
| Income taxes paid (refunded), net | | $(114) | | $(118) | | $40 | |||
| | | | | | | | | | |
| Supplemental disclosures of non-cash activities | | | | | | | | ||
| Capitalized and accrued milestone payment during the period to Junshi Biosciences | | $— | | $25,000 | | $— | |||
| Stock issued under Optional Stock Purchase Agreement | | $— | | $8,179 | | $— | |||
| Non-cash employee bonuses settled in common stock | | $4,408 | | $— | | $— | |||
** Coherus BioSciences, Inc.**
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