Coherus Oncology Q1 Sales Jump 61% to $11.8M, Raises $53.6M
Coherus Oncology reported Q1 2026 net revenue of $12.3 million, driven by $11.8 million in LOQTORZI sales, a 61% year-on-year increase, and ended the quarter with $167.0 million in cash, equivalents and securities. The company raised $53.6 million net from a 32.89 million share offering to fund its oncology pipeline.
1. First Quarter Financial Results
Coherus Oncology posted net revenue of $12.3 million for Q1 2026, up from $7.6 million a year earlier. Cost of goods sold increased to $3.8 million and R&D expenses reached $21.5 million, reflecting investments in pipeline advancement.
2. LOQTORZI Commercial Growth
LOQTORZI net product revenue was $11.8 million, a 61% increase year-over-year, despite a 5% sequential decline due to seasonal and weather impacts. New patient starts hit a record high, driven by expanded account breadth and extended treatment durations.
3. Pipeline and Clinical Milestones
Patient accrual has completed in the Phase 2 first-line HCC study for casdozokitug in combination with LOQTORZI, with data readouts on track for mid-2026. Tagmokitug studies across multiple tumor types are underway, and a pasritamig combination in mCRPC is set to begin enrollment in fall 2026.
4. Financing and Cash Position
During Q1, Coherus sold 32.89 million common shares, including overallotment, raising $53.6 million net. The quarter closed with $167.0 million in cash, cash equivalents and marketable securities to support ongoing research and commercial initiatives.