LOQTORZI Sales Double to $40.8M as Debt Plummets 90% to $38.8M
Coherus Oncology’s LOQTORZI net revenue more than doubled from $19.1M in 2024 to $40.8M in 2025, with Q4 sales rising 64% year-over-year to $12.4M. Secured and convertible debt fell 90% to $38.8M while year-end cash, cash equivalents and marketable securities totaled $172.1M following a $47M equity raise in February 2026.
1. LOQTORZI Commercial Performance
LOQTORZI net revenue doubled to $40.8M in 2025 from $19.1M in 2024. Q4 net revenue reached $12.4M, up 11% sequentially and 64% year-over-year, driven by new account starts, repeat patient use and longer treatment durations.
2. Strengthened Balance Sheet
Secured and convertible debt fell 90% from $480M at end-2024 to $38.8M after principal repayments. Year-end cash, cash equivalents and marketable securities stood at $172.1M following net proceeds of $47M from a February 2026 equity offering.
3. Pipeline and Future Milestones
Coherus is advancing casdozokitug in Phase 2 first-line hepatocellular carcinoma, which previously showed a 17% complete response rate, and tagmokitug combination studies in multiple tumor cohorts. Initial data readouts are expected mid-2026, with additional trials planned in metastatic prostate, gastrointestinal and head and neck cancers later in the year.