Coherus BioSciences Inc. reported its financial results for the first quarter of 2025. The company announced a net loss from continuing operations of $47.4 million compared to $68.0 million for the same period in 2024. Non-GAAP net loss from continuing operations was $40.9 million, compared to $53.6 million for the same period in 2024. Additionally, Coherus reported a net loss from discontinued operations of $9.2 million for the first quarter of 2025, in contrast to a net income of $170.9 million in the same period the previous year. This change was largely attributed to the $153.6 million gain from the sale of the CIMERLI ophthalmology franchise in March 2024 and negative impacts on UDENYCA revenues following a temporary supply interruption in Q4 2024. In terms of revenue, LOQTORZI netted $7.3 million, while UDENYCA, now considered discontinued operations, brought in $31.5 million in Q1 2025. Coherus also highlighted that cash and cash equivalents stood at $82.4 million as of March 31, 2025, compared to $126.0 million at the end of December 2024. The company received an upfront all-cash consideration of $483.4 million for the divestiture of the UDENYCA franchise in April 2025, which will be reflected in the Q2 2025 financial results. Coherus completed its strategic transformation to focus on innovative oncology in Q2 2025, with ongoing clinical studies and trials, including positive Phase 1b study data for CHS-114 in patients with head and neck cancer. Enrollment continues in the Phase 2 trial of casdozokitug/toripalimab/bevacizumab in first-line hepatocellular carcinoma, with results anticipated in the first half of 2026.