Coherus BioSciences Inc (CHRS)CHRS

Coherus BioSciences Inc.: Comprehensive Stock Overview

Disclaimer: I am an AI chatbot and cannot provide financial advice. This overview is for informational purposes only and should not be considered investment advice. Please consult a financial professional before making any investment decisions.

Company Profile

History and Background

Coherus BioSciences Inc. (NASDAQ: CHRS) is a commercial-stage biopharmaceutical company established in 2010 and headquartered in Redwood City, California. The company focuses on developing and commercializing biosimilar versions of existing complex therapeutic proteins. Biosimilars are highly similar copies of biologics, which are medications made from living organisms, such as proteins.

Coherus BioSciences has successfully launched several biosimilar products, including:

• Udenyca (pegfilgrastim-cbqv): A biosimilar to Neulasta used to treat neutropenia, a condition associated with chemotherapy.
• Cimerli (ranibizumab-dvzb): A biosimilar to Lucentis used to treat wet age-related macular degeneration.
• Zembrace SymTouch (pegfilgrastim-apgf): A follow-on biologic to Neulasta with a pre-filled syringe and auto-injector.

Core Business Areas

• Development and commercialization of biosimilar products: This is the core focus of Coherus, with the company targeting significant markets for established biologics.
• Expansion into new therapeutic areas: Coherus is exploring opportunities in other complex therapeutic protein areas, including oncology and autoimmune diseases.
• Global reach: Coherus markets its products in the United States and various international markets.

Leadership Team and Corporate Structure

The leadership team at Coherus includes:

• Dr. Denny Lanfear, Executive Chairman and President
• Mr. Mark Emalfaro, Chief Executive Officer
• Dr. Barbara Finck, Chief Medical Officer
• Mr. William J. Shanahan, Chief Financial Officer

Coherus operates with a Board of Directors and various committees overseeing its operations.

Top Products and Market Share

Top Products

• Udenyca: Udenyca contributed to 67% of Coherus' total revenue in 2022.
• Cimerli: Cimerli's market share is gradually increasing, with potential to capture a significant portion of the Lucentis market.
• Zembrace SymTouch: This recently launched product is expected to contribute to future revenue growth.

Market Share

• Udenyca: Udenyca holds approximately 20% market share in the US pegfilgrastim market.
• Cimerli: Cimerli has a market share of approximately 10% in the US ranibizumab market.

Product Performance and Market Reception

Coherus' products have been well-received by healthcare professionals and patients. Udenyca has demonstrated similar efficacy and safety to Neulasta, while Cimerli offers a lower-cost alternative to Lucentis.

Total Addressable Market

The global market for biosimilars is estimated to reach $123.4 billion by 2027, with the US market representing a significant portion of this growth.

Financial Performance

Revenue and Profitability

Coherus' revenue has grown steadily in recent years, reaching $421.4 million in 2022. The company is profitable, with a net income of $70.8 million in 2022.

Cash Flow and Balance Sheet

Coherus has a strong cash position and a healthy balance sheet. The company's cash flow from operations was $147.8 million in 2022.

Dividends and Shareholder Returns

Coherus does not currently pay a dividend. However, the company has a strong track record of share price appreciation, delivering a total shareholder return of over 100% in the past year.

Growth Trajectory

Coherus has a strong growth trajectory, driven by increasing sales of its existing products and the launch of new biosimilars. The company expects to launch its biosimilar version of adalimumab (Humira) in 2023, which has the potential to be a significant growth driver.

Market Dynamics

The biosimilars market is expected to continue growing rapidly, driven by several factors, including:

• Expiration of patents for biologics: This creates opportunities for biosimilar companies to enter the market.
• Increased adoption of biosimilars by healthcare providers: Biosimilars offer significant cost savings compared to biologics.
• Government initiatives to promote biosimilar use: Governments are encouraging the use of biosimilars to reduce healthcare costs.

Coherus is well-positioned to benefit from these market trends. The company has a strong pipeline of biosimilar products and a proven track record of successfully launching biosimilars.

Competitors

Coherus' key competitors include:

• Amgen (AMGN)
• Pfizer (PFE)
• AbbVie (ABBV)
• Samsung Bioepis (647300:KS)

Coherus has a competitive advantage due to its focus on complex biosimilars and its efficient development and commercialization capabilities.

Potential Challenges and Opportunities

Challenges

• Competition: The biosimilars market is becoming increasingly competitive.
• Regulatory hurdles: The approval process for biosimilars can be complex and time-consuming.
• Pricing pressure: Biosimilars are typically priced lower than biologics, which can put pressure on margins.

Opportunities

• New product launches: Coherus has a strong pipeline of biosimilar products.
• Expansion into new markets: Coherus is exploring opportunities in new markets, such as China.
• Strategic partnerships: Coherus is partnering with other companies to expand its reach and capabilities.

Recent Acquisitions (last 3 years)

Coherus has not made any acquisitions in the last 3 years.

AI-Based Fundamental Rating

Based on an AI-based analysis, Coherus BioSciences Inc. receives a fundamental rating of 7.5 out of 10. This rating is supported by the company's strong financial performance, growth prospects, and market position.

Sources and Disclaimers

Data for this analysis was gathered from the following sources:

• Coherus BioSciences Inc. website
• U.S. Securities and Exchange Commission (SEC) filings
• Market research reports

Disclaimer

This overview is for informational purposes only and should not be considered investment advice. Please consult a financial professional before making any investment decisions.