Coherus falls after Q4 revenue misses estimates

Coherus Oncology

13/03/2024 20:35

** Shares of cancer drug developer Coherus BioSciences
 CHRS.O  fall 13% to $2.00 after the bell 
    ** Co reports net revenue of $91.5 mln in Q4 vs analysts'
average estimate of $96.4 mln - LSEG data  
    ** Reports Q4 net loss of $68.9 mln, compared with analysts'
expectations of a loss of $33.14 mln -LSEG data
    ** Says CHRS initiated a workforce cut of 30% on March 7
    ** Co had 359 full-time employees as of Dec. 31, 2022
-filing
    ** Up to last close, stock down ~31% YTD 

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))