$CHRS
Coherus BioSciences, Inc.

2015 Q2 Form 10-Q Financial Statement

#000156459015006845 Filed on August 10, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q4 2014 Q2
Revenue $6.866M $6.493M $4.965M
YoY Change 38.29% 427.03% 879.29%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.800M $6.200M $4.000M
YoY Change 120.0% 148.0% 207.69%
% of Gross Profit
Research & Development $56.94M $26.90M $18.93M
YoY Change 200.89% 192.39% 122.65%
% of Gross Profit
Depreciation & Amortization $400.0K $300.0K $131.0K
YoY Change 205.34% 200.0% 31.0%
% of Gross Profit
Operating Expenses $65.76M $33.05M $22.90M
YoY Change 187.13% 182.05% 133.92%
Operating Profit -$58.90M -$17.94M
YoY Change 228.33%
Interest Expense $0.00 $0.00 $1.158M
YoY Change -100.0% -100.0%
% of Operating Profit
Other Income/Expense, Net -$139.0K -$2.500M -$5.974M
YoY Change -97.67% 212.5% -1095.67%
Pretax Income -$59.00M -$29.00M -$25.10M
YoY Change 135.06% 98.63% 188.51%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$58.81M -$29.13M -$24.96M
YoY Change 135.65% 99.55% 186.86%
Net Earnings / Revenue -856.54% -448.7% -502.66%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.560M -$3.549M -$778.8K
COMMON SHARES
Basic Shares Outstanding 37.67M 33.26M 4.621M
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q2 2014 Q4 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $206.1M $150.4M $108.9M
YoY Change 89.26% 279.8%
Cash & Equivalents $206.1M $150.4M $108.9M
Short-Term Investments
Other Short-Term Assets $3.344M $2.276M $5.900M
YoY Change -43.32% -60.76%
Inventory
Prepaid Expenses $20.49M
Receivables $1.454M $2.417M
Other Receivables
Total Short-Term Assets $239.6M $179.1M $114.7M
YoY Change 108.89% 292.18%
LONG-TERM ASSETS
Property, Plant & Equipment $6.341M $4.472M $3.000M
YoY Change 111.37% 156.57%
Goodwill $943.0K $943.0K
YoY Change
Intangibles $2.620M $2.620M
YoY Change
Long-Term Investments
YoY Change
Other Assets $50.00K $50.00K $900.0K
YoY Change -94.44% 85.19%
Total Long-Term Assets $9.954M $8.085M $7.500M
YoY Change 32.72% 356.78%
TOTAL ASSETS
Total Short-Term Assets $239.6M $179.1M $114.7M
Total Long-Term Assets $9.954M $8.085M $7.500M
Total Assets $249.5M $187.2M $122.2M
YoY Change 104.21% 294.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.09M $8.778M $5.400M
YoY Change 160.94% 165.84%
Accrued Expenses $19.28M $11.23M $6.900M
YoY Change 179.42% 53.85%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $69.95M $51.78M $44.60M
YoY Change 56.83% -3.57%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $319.0K $347.0K $63.00M
YoY Change -99.49% 468.85%
Total Long-Term Liabilities $319.0K $347.0K $63.00M
YoY Change -99.49% 468.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $69.95M $51.78M $44.60M
Total Long-Term Liabilities $319.0K $347.0K $63.00M
Total Liabilities $153.2M $120.5M $107.5M
YoY Change 42.49% 34.1%
SHAREHOLDERS EQUITY
Retained Earnings -$286.3M -$186.7M
YoY Change 87.49%
Common Stock $383.5M $254.1M
YoY Change 10001.43%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $96.75M $66.80M $14.70M
YoY Change
Total Liabilities & Shareholders Equity $249.5M $187.2M $122.2M
YoY Change 104.21% 294.59%

Cashflow Statement

Concept 2015 Q2 2014 Q4 2014 Q2
OPERATING ACTIVITIES
Net Income -$58.81M -$29.13M -$24.96M
YoY Change 135.65% 99.55% 186.86%
Depreciation, Depletion And Amortization $400.0K $300.0K $131.0K
YoY Change 205.34% 200.0% 31.0%
Cash From Operating Activities -$20.80M -$33.30M -$200.0K
YoY Change 10300.0% -766.0% -95.0%
INVESTING ACTIVITIES
Capital Expenditures -$1.000M -$400.0K -$1.300M
YoY Change -23.08% 100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities -$1.000M -$500.0K -$1.300M
YoY Change -23.08% 150.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 112.6M 83.80M 54.00M
YoY Change 108.52%
NET CHANGE
Cash From Operating Activities -20.80M -33.30M -200.0K
Cash From Investing Activities -1.000M -500.0K -1.300M
Cash From Financing Activities 112.6M 83.80M 54.00M
Net Change In Cash 90.80M 50.00M 52.50M
YoY Change 72.95% 941.67% -1412.5%
FREE CASH FLOW
Cash From Operating Activities -$20.80M -$33.30M -$200.0K
Capital Expenditures -$1.000M -$400.0K -$1.300M
Free Cash Flow -$19.80M -$32.90M $1.100M
YoY Change -1900.0% -732.69% -127.5%

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CY2015Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3263000
CY2015Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
616000
CY2015Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3024000
CY2014Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-67000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-82000
chrs Proceeds From Issuance Follow On Offering Net Of Underwriters Discounts And Commissions
ProceedsFromIssuanceFollowOnOfferingNetOfUnderwritersDiscountsAndCommissions
112800000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2321000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-2321000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
781000
us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
54720000
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
74000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
111896000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
53974000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
23000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
32000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
69315000
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
39554000
CY2014Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
108869000
us-gaap Nature Of Operations
NatureOfOperations
<div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1.</p></td> <td valign="top" style="width:95.46%;"> <p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Organization and Operations<font style="font-weight:normal;"> </font></p></td></tr></table></div> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Description of the Business </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Coherus BioSciences, Inc. (the &#8220;Company&#8221;, &#8220;Coherus&#8221;, &#8220;we&#8221;, &#8220;our&#8221; or &#8220;us&#8221;) was incorporated in the state of Delaware as BioGenerics, Inc. in September&#160;2010 and changed its name to Coherus BioSciences, Inc. in April 2012. The Company is a late-stage clinical biologics platform company, focused on the global biosimilar market. The Company&#8217;s headquarters and laboratories are located in Redwood City, California and in Camarillo, California, respectively. The Company operates in one segment. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company&#8217;s clinical stage pipeline consists of a long-acting form of granulocyte colony-stimulating factor (&#8220;G-CSF&#8221;), and two anti-inflammatory agents targeting tumor necrosis factor (&#8220;TNF&#8221;): </p> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:95.46%;margin-left:4.54%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:6pt;font-family:'Symbol';font-size:10pt;">&#183;</p></td> <td valign="top" style="width:95.46%;"> <p style="margin-bottom:0pt;margin-top:6pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company&#8217;s long-acting G-CSF product candidate, CHS-1701, is being developed as a pegfilgrastim (Neulasta) biosimilar. The Company has initiated a pivotal pharmacokinetic (PK) and pharmacodynamics (PD) study for CHS-1701 in the United States (U.S.), which, if positive, the Company believes will support the planned filing of a biologics license application (&#8220;BLA&#8221;) in the U.S. An additional immunogenicity study is underway in healthy volunteers pursuant to this BLA and is projected to conclude dosing in 2015.</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:95.46%;margin-left:4.54%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:6pt;font-family:'Symbol';font-size:10pt;">&#183;</p></td> <td valign="top" style="width:95.46%;"> <p style="margin-bottom:0pt;margin-top:6pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company&#8217;s most clinically advanced anti-TNF product candidate, CHS-0214, is being developed as an etanercept (Enbrel) biosimilar that the Company has partnered with Baxter International Inc., Baxter Healthcare Corporation and Baxter Healthcare SA (collectively &#8220;Baxter&#8221;) and Daiichi Sankyo Company, Limited (&#8220;Daiichi Sankyo&#8221;) to develop and commercialize in key markets outside of the U.S. In the second quarter of 2015, Baxter assigned its rights and obligations under its license agreement with the Company to affiliated entities that are under common control of Baxalta Corporation (&#8220;Baxalta&#8221;).&nbsp;&nbsp;The Company is currently enrolling two Phase 3 clinical trials in rheumatoid arthritis and psoriasis. The Company expects that results of these trials, if positive, combined with data from our Phase 1 studies, will support the expected filing of a marketing application in Europe and Japan in 2016. The Company has retained the development and commercial rights to this product in the U.S. However, the therapeutic protein in etanercept is subject to certain originator-controlled U.S. patents expiring in 2028 and 2029. Assuming these patents are valid and enforceable, and that the Company would be unable to obtain a license to them, the Company does not expect to commercialize CHS-0214 in the U.S. prior to their expiration. <font style="Background-color:#FFFFFF;color:#;">On April&#160;14, 2015, the Company obtained positive results of a repeat Phase 1 PK bioequivalence study for CHS-0214. This study was initiated due to the change in the manufacturing location from the U.S. to the European Union (E.U.) of CHS-0214, and compared the E.U. produced CHS-0214 to a lot of Enbrel manufactured in Europe. In May 2015, the Company completed the enrollment of the Phase 3 studies for which it received a $35.0 million milestone payment from Baxalta.</font></p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:95.46%;margin-left:4.54%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:6pt;font-family:'Symbol';font-size:10pt;">&#183;</p></td> <td valign="top" style="width:95.46%;"> <p style="margin-bottom:0pt;margin-top:6pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company&#8217;s second anti-TNF product candidate, CHS-1420, is being developed as an adalimumab (Humira) biosimilar. This product successfully completed a pivotal Phase 1 PK study in August 2014 by meeting the primary study endpoint. The Company plans to initiate a Phase 3 study in psoriasis in mid-2015 to support the planned filing of a marketing application in the U.S. in 2016 and the E.U. in 2017. </p></td></tr></table></div> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In March 2015, the Company&#8217;s registration statement on Form S-1 (File No.&#160;333-202936) relating to its follow-on public offering (&#8220;Follow-on Offering&#8221;) of its common stock was declared effective by the Securities and Exchange Commission (&#8220;SEC&#8221;). The price of the shares sold in the Follow-on Offering was $29.00 per share. The Follow-on Offering closed on April 7, 2015, pursuant to which the Company sold 4,137,931 shares of common stock. The Company received total gross proceeds from the offering of $120.0 million. After deducting underwriting discounts and commissions of $7.2 million and offering expenses of $0.6 million, the net proceeds were $112.2 million. </p> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Need to Raise Additional Capital</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As of June 30, 2015, the Company had an accumulated deficit of $286.3 million and cash and cash equivalents of $206.1 million. The Company believes that its current available cash and cash equivalents will be sufficient to fund its planned expenditures and meet the Company&#8217;s obligations through at least the next twelve months. However, if the anticipated operating results are not achieved in future periods, the planned expenditures may need to be reduced in order to extend the time period over which the then-available resources would be able to fund the operations. The Company will need to raise additional funds in the future, however there can be no assurance that such efforts will be successful or that, in the event that they are successful, the terms and conditions of such financing will be favorable. </p></div>
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-bottom:0pt;margin-top:8pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts and disclosures reported in the financial statements. Management uses significant judgment when making estimates related to its common stock valuation and related stock-based compensation, the valuations of the convertible preferred stock warrant liability and embedded derivative instruments, valuation of deferred tax assets, impairment of goodwill and long-lived assets, the valuation of acquired intangible assets, clinical trial accruals, revenue recognition period, as well as certain accrued liabilities. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates. </p></div>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Customer Concentration </p> <p style="margin-bottom:0pt;margin-top:6pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Customers whose collaboration and license revenue accounted for 10% or more of total revenues were as follows: </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p> <div> <table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:90%;"> <tr> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:51%;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:4pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td colspan="6" valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:22%;0pt #000000;0pt #000000;0pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Three Months Ended</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td colspan="6" valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:22%;0pt #000000;0pt #000000;0pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Six Months Ended</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> </tr> <tr> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:51%;0pt #000000; border-bottom:solid 0.75pt transparent;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:4pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1%;0pt #000000; border-bottom:solid 0.75pt transparent;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:4pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td colspan="6" valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:22%;0pt #000000; border-bottom:solid 0.75pt #000000;0pt #000000;0pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">June 30,</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1%;0pt #000000; border-bottom:solid 0.75pt transparent;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1%;0pt #000000; border-bottom:solid 0.75pt transparent;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td colspan="6" valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:22%;0pt #000000; border-bottom:solid 0.75pt #000000;0pt #000000;0pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">June 30,</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1%;0pt #000000; border-bottom:solid 0.75pt transparent;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> </tr> <tr> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:51%;0pt #000000; border-bottom:solid 0.75pt transparent;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:4pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1%;0pt #000000; border-bottom:solid 0.75pt transparent;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-size:4pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td colspan="2" valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:10%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;0pt #000000;0pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2015</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1%;0pt #000000; border-bottom:solid 0.75pt transparent;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt transparent;0pt #000000;0pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td colspan="2" valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:10%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;0pt #000000;0pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2014</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1%;0pt #000000; border-bottom:solid 0.75pt transparent;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1%;0pt #000000; border-bottom:solid 0.75pt transparent;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td colspan="2" valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:10%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;0pt #000000;0pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2015</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1%;0pt #000000; border-bottom:solid 0.75pt transparent;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt transparent;0pt #000000;0pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td colspan="2" valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:10%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;0pt #000000;0pt #000000;"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2014</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1%;0pt #000000; border-bottom:solid 0.75pt transparent;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> </tr> <tr> <td valign="top" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:51%;0pt #000000;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Baxalta</p></td> <td valign="top" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:8%; border-top:solid 0.75pt #000000;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">94</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">%</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:8%; border-top:solid 0.75pt #000000;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">90</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">%</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:8%; border-top:solid 0.75pt #000000;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">93</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">%</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:8%; border-top:solid 0.75pt #000000;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">88</p></td> <td valign="bottom" bgcolor="#CFF0FC" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">%</p></td> </tr> <tr> <td valign="top" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:51%;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Daiichi Sankyo - related party (1)</p></td> <td valign="top" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td colspan="2" valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:10%;0pt #000000;0pt #000000;0pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">*</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:8%;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">10</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">%</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td colspan="2" valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:10%;0pt #000000;0pt #000000;0pt #000000;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">*</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:8%;0pt #000000;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">12</p></td> <td valign="bottom" bgcolor="#FFFFFF" style="padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;0pt #000000;0pt #000000;white-space:nowrap;"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">%</p></td> </tr> </table></div> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:6pt;">&nbsp;</p> <p style="text-align:left;margin-top:0pt;border-top:Solid 0.75pt #000000;padding-top:0pt;margin-bottom:0pt;margin-right:86.67%;text-indent:0%;font-size:6pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">* less than 10%</p> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(1)</p></td> <td valign="top" style="width:95.46%;"> <p style="margin-top:6pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Represents revenue from Daiichi Sankyo through November 12, 2014 as a related party, a holder of more than 10% of our common stock until the closing of our IPO.</p></td></tr></table></div></div>
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2015Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-129000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-38000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2015Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8245000
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5764000
CY2015Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1904000
CY2014Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1292000
CY2015Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
400000
CY2014Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
131000
CY2015Q2 us-gaap Accrued Utilities Current
AccruedUtilitiesCurrent
6180000
CY2014Q4 us-gaap Accrued Utilities Current
AccruedUtilitiesCurrent
2997000
CY2014Q4 chrs Accrued Clinical And Manufacturing Liabilities Current
AccruedClinicalAndManufacturingLiabilitiesCurrent
2396000
CY2014Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3435000
CY2014Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
252000
CY2014Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2151000
us-gaap Litigation Settlement Amount
LitigationSettlementAmount
0
CY2015Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4618000
CY2014Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1076000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6794000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1567000
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37673740
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4620592
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35544166
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4725136
CY2015Q2 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
992
CY2014Q2 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
433770
us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
7277
us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
543083
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7940823
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
27421257
chrs Lease Initiation Date
LeaseInitiationDate
2011-09-26

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