2016 Q2 Form 10-Q Financial Statement
#000156459016023684 Filed on August 09, 2016
Income Statement
| Concept | 2016 Q2 | 2015 Q4 | 2015 Q2 |
|---|---|---|---|
| Revenue | $14.07M | $10.20M | $6.866M |
| YoY Change | 104.89% | 57.06% | 38.29% |
| Cost Of Revenue | |||
| YoY Change | |||
| Gross Profit | |||
| YoY Change | |||
| Gross Profit Margin | |||
| Selling, General & Admin | $11.30M | $11.00M | $8.800M |
| YoY Change | 28.41% | 77.42% | 120.0% |
| % of Gross Profit | |||
| Research & Development | $65.54M | $51.40M | $56.94M |
| YoY Change | 15.1% | 91.08% | 200.89% |
| % of Gross Profit | |||
| Depreciation & Amortization | $700.0K | $600.0K | $400.0K |
| YoY Change | 75.0% | 100.0% | 205.34% |
| % of Gross Profit | |||
| Operating Expenses | $76.80M | $62.41M | $65.76M |
| YoY Change | 16.79% | 88.8% | 187.13% |
| Operating Profit | -$58.90M | ||
| YoY Change | 228.33% | ||
| Interest Expense | $2.354M | $0.00 | $0.00 |
| YoY Change | -100.0% | ||
| % of Operating Profit | |||
| Other Income/Expense, Net | -$5.060M | -$400.0K | -$139.0K |
| YoY Change | 3540.29% | -84.0% | -97.67% |
| Pretax Income | -$70.20M | -$52.60M | -$59.00M |
| YoY Change | 18.98% | 81.38% | 135.06% |
| Income Tax | |||
| % Of Pretax Income | |||
| Net Earnings | -$69.97M | -$52.39M | -$58.81M |
| YoY Change | 18.97% | 79.83% | 135.65% |
| Net Earnings / Revenue | -497.35% | -513.74% | -856.54% |
| Basic Earnings Per Share | -$1.72 | ||
| Diluted Earnings Per Share | -$1.72 | -$1.344M | -$1.560M |
| COMMON SHARES | |||
| Basic Shares Outstanding | 40.70M | 37.67M | |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2016 Q2 | 2015 Q4 | 2015 Q2 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $220.9M | $158.2M | $206.1M |
| YoY Change | 7.18% | 5.19% | 89.26% |
| Cash & Equivalents | $220.9M | $158.2M | $206.1M |
| Short-Term Investments | |||
| Other Short-Term Assets | $431.0K | $2.797M | $3.344M |
| YoY Change | -87.11% | 22.89% | -43.32% |
| Inventory | |||
| Prepaid Expenses | $34.74M | ||
| Receivables | $1.560M | $1.454M | |
| Other Receivables | |||
| Total Short-Term Assets | $236.8M | $197.4M | $239.6M |
| YoY Change | -1.15% | 10.19% | 108.89% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $9.904M | $10.50M | $6.341M |
| YoY Change | 56.19% | 134.88% | 111.37% |
| Goodwill | $943.0K | $943.0K | $943.0K |
| YoY Change | 0.0% | 0.0% | |
| Intangibles | $2.620M | $2.620M | $2.620M |
| YoY Change | 0.0% | 0.0% | |
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $15.00K | $146.0K | $50.00K |
| YoY Change | -70.0% | 192.0% | -94.44% |
| Total Long-Term Assets | $14.27M | $15.00M | $9.954M |
| YoY Change | 43.33% | 85.5% | 32.72% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $236.8M | $197.4M | $239.6M |
| Total Long-Term Assets | $14.27M | $15.00M | $9.954M |
| Total Assets | $251.1M | $212.4M | $249.5M |
| YoY Change | 0.62% | 13.44% | 104.21% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $17.43M | $25.95M | $14.09M |
| YoY Change | 23.72% | 195.6% | 160.94% |
| Accrued Expenses | $19.18M | $24.13M | $19.28M |
| YoY Change | -0.5% | 114.88% | 179.42% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $108.3M | $106.0M | $69.95M |
| YoY Change | 54.83% | 104.74% | 56.83% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $99.60M | $0.00 | $0.00 |
| YoY Change | |||
| Other Long-Term Liabilities | $105.1M | $1.702M | $319.0K |
| YoY Change | 32846.71% | 390.49% | -99.49% |
| Total Long-Term Liabilities | $204.7M | $1.702M | $319.0K |
| YoY Change | 64069.28% | 390.49% | -99.49% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $108.3M | $106.0M | $69.95M |
| Total Long-Term Liabilities | $204.7M | $1.702M | $319.0K |
| Total Liabilities | $312.0M | $219.3M | $153.2M |
| YoY Change | 103.68% | 82.06% | 42.49% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$286.3M | ||
| YoY Change | |||
| Common Stock | $383.5M | ||
| YoY Change | |||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | -$60.90M | -$6.207M | $96.75M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $251.1M | $212.4M | $249.5M |
| YoY Change | 0.62% | 13.44% | 104.21% |
Cashflow Statement
| Concept | 2016 Q2 | 2015 Q4 | 2015 Q2 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$69.97M | -$52.39M | -$58.81M |
| YoY Change | 18.97% | 79.83% | 135.65% |
| Depreciation, Depletion And Amortization | $700.0K | $600.0K | $400.0K |
| YoY Change | 75.0% | 100.0% | 205.34% |
| Cash From Operating Activities | -$27.40M | $5.600M | -$20.80M |
| YoY Change | 31.73% | -116.82% | 10300.0% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | -$300.0K | -$1.500M | -$1.000M |
| YoY Change | -70.0% | 275.0% | -23.08% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $0.00 | $0.00 | |
| YoY Change | |||
| Cash From Investing Activities | -$300.0K | -$1.400M | -$1.000M |
| YoY Change | -70.0% | 180.0% | -23.08% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | $72.50M | ||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | 69.10M | 300.0K | 112.6M |
| YoY Change | -38.63% | -99.64% | 108.52% |
| NET CHANGE | |||
| Cash From Operating Activities | -27.40M | 5.600M | -20.80M |
| Cash From Investing Activities | -300.0K | -1.400M | -1.000M |
| Cash From Financing Activities | 69.10M | 300.0K | 112.6M |
| Net Change In Cash | 41.40M | 4.500M | 90.80M |
| YoY Change | -54.41% | -91.0% | 72.95% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$27.40M | $5.600M | -$20.80M |
| Capital Expenditures | -$300.0K | -$1.500M | -$1.000M |
| Free Cash Flow | -$27.10M | $7.100M | -$19.80M |
| YoY Change | 36.87% | -121.58% | -1900.0% |
Facts In Submission
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|---|---|---|---|---|
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General And Administrative Expense
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Sales Revenue Net
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Research And Development Expense
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Profit Loss
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Net Income Loss Attributable To Noncontrolling Interest
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Net Income Loss Attributable To Noncontrolling Interest
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Net Income Loss
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Earnings Per Share Basic And Diluted
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|
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Earnings Per Share Basic And Diluted
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|
-2.80 | ||
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Weighted Average Number Of Share Outstanding Basic And Diluted
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|
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Weighted Average Number Of Share Outstanding Basic And Diluted
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Related Party Transaction Research And Development Expense
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|
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Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
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License And Services Revenue
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Profit Loss
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|
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Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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Foreign Currency Transaction Gain Loss Before Tax
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Interest Expense Related Party
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|
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Comprehensive Income Net Of Tax
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Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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|
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Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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|
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Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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|
-333000 | ||
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Depreciation And Amortization
DepreciationAndAmortization
|
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| us-gaap |
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
|
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| us-gaap |
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
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Share Based Compensation
ShareBasedCompensation
|
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Increase Decrease In Accounts Payable
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Net Cash Provided By Used In Operating Activities Continuing Operations
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|
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Payments To Acquire Property Plant And Equipment
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|
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Net Cash Provided By Used In Investing Activities Continuing Operations
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|
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| chrs |
Proceeds From Issuance Common Stock Offering Net Of Underwriters Discounts And Commissions
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|
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Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
-99868000 | ||
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Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
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Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
14399000 | |
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Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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|
4495000 | |
| us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
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|
23000 | ||
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Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
55696000 | ||
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Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
150392000 | |
| CY2015Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
206088000 | |
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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="text-align:justify;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;"><font style="font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1.</font></p></td> <td valign="top"> <p style="text-align:justify;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="text-align:justify;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="text-align:justify;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 “Company”, “Coherus”, “we”, “our” or “us”) is a late-stage clinical biologics platform company, focused on the global biosimilar market. The Company’s headquarters and laboratories are located in Redwood City, California and in Camarillo, California, respectively. The Company operates in one segment. </p> <p style="text-align:justify;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’s clinical stage pipeline consists of a long-acting form of granulocyte colony-stimulating factor (“G-CSF”), and two anti-inflammatory agents targeting tumor necrosis factor (“TNF”): </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="text-align:justify;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;"> </p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;font-family:'Symbol';font-size:10pt;">·</p></td> <td valign="top"> <p style="text-align:justify;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’s long-acting G-CSF product candidate, CHS-1701, is being developed as a pegfilgrastim (Neulasta) biosimilar. In February 2016, an immunogenicity study in healthy volunteers pursuant to CHS-1701’s planned biologics license application (BLA) met its primary endpoints. In July 2016, a follow-on pharmacokinetic/pharmacodynamics (“PK/PD”) study met all its co-primary endpoints. The safety profiles of CHS-1701 and Neulasta were very similar. There were no serious adverse events related to either study drug or clinical meaningful difference between CHS-1701 or Neulasta leading to study drug discontinuations. The Company submitted a BLA in the U.S. in August 2016.</p></td></tr></table></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="text-align:justify;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;"> </p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;font-family:'Symbol';font-size:10pt;">·</p></td> <td valign="top"> <p style="text-align:justify;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’s most clinically advanced anti-TNF product candidate, CHS-0214, is being developed as an etanercept (Enbrel) biosimilar that the Company has partnered with Baxalta Incorporated, Baxalta US Inc., and Baxalta GmbH, (collectively “Baxalta”, now part of Shire plc as of June 2016) and Daiichi Sankyo Company, Limited (“Daiichi Sankyo”) to develop and commercialize in key markets outside of the U.S. The Company completed two Phase 3 clinical trials with CHS-0214 in rheumatoid arthritis and psoriasis, which met their primary clinical endpoints in November 2015 and January 2016, respectively. The Company expects that results from these trials, combined with data from its Phase 1 studies, will support the expected submission of a marketing application in Europe in 2016 and Japan in 2017. 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.</p></td></tr></table></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="text-align:justify;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;"> </p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;font-family:'Symbol';font-size:10pt;font-weight:bold;">·</p></td> <td valign="top"> <p style="text-align:justify;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’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 PK bioequivalence endpoint. The Company initiated a Phase 3 study in psoriasis in August 2015 to support the planned submission of a marketing application in the U.S. in 2016 and the E.U. in 2017. The Company initiated a bridging PK study comparing the Phase 3 CHS-1420 material to U.S. manufactured adalimumab (Humira) during the first quarter of 2016. In August 2016, the Company reported that its Phase 3 study in psoriasis met its primary endpoint.</p></td></tr></table></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="text-align:justify;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;"> </p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;font-family:'Symbol';font-size:10pt;">·</p></td> <td valign="top"> <p style="text-align:justify;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 reported positive Phase 2b efficacy data on CHS-131, an oral, small-molecule drug candidate, in relapsing remitting multiple sclerosis. This six-month study demonstrated significant reduction in contrast-enhancing lesions meeting its primary endpoint. CHS-131 was generally well-tolerated and without evidence of immune suppression or the side-effects commonly seen in other oral multiple sclerosis (“MS”) therapies. The Company intends to partner CHS-131 for further development.</p></td></tr></table></div> <p style="text-align:justify;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="text-align:justify;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, 2016, the Company had an accumulated deficit of $545.3 million and cash and cash equivalents of $220.9 million. In February 2016, the Company issued and sold $100.0 million aggregate principal amount of 8.2% senior convertible notes due March 31, 2022 (see Note 6). In May and June 2016, the Company issued and sold 4,025,000 shares of its common stock at $18.00 per share for net proceeds of $69.0 million (see Note 8). The Company believes that its current available cash and cash equivalents, together with funding it expects to receive under its license agreements with Daiichi Sankyo and Baxalta, and additional projected license agreements, will be sufficient to fund its planned expenditures and meet the obligations through at least the next 12 months<font style="color:#1F497D;">. </font>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. If the Company is unable to obtain adequate financing when needed, it may have to delay, reduce the scope of or suspend one or more of its clinical trials, research and development programs or commercialization efforts.<font style="font-family:EYInterstate Light;"> </font></p></div> | ||
| CY2015Q2 | chrs |
Related Party Transaction Research And Development Expense
RelatedPartyTransactionResearchAndDevelopmentExpense
|
12404000 | |
| chrs |
Related Party Transaction Research And Development Expense
RelatedPartyTransactionResearchAndDevelopmentExpense
|
24120000 | ||
| chrs |
Related Party Transaction Research And Development Expense
RelatedPartyTransactionResearchAndDevelopmentExpense
|
23885000 | ||
| CY2016Q2 | us-gaap |
Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty
|
50000 | |
| us-gaap |
Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty
|
50000 | ||
| us-gaap |
Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty
|
343000 | ||
| CY2016Q2 | us-gaap |
Interest Expense Related Party
InterestExpenseRelatedParty
|
588000 | |
| us-gaap |
Interest Expense Related Party
InterestExpenseRelatedParty
|
798000 | ||
| us-gaap |
Interest Expense Related Party
InterestExpenseRelatedParty
|
0 | ||
| CY2015Q2 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
-58906000 | |
| us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
-1300000 | ||
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
11466000 | ||
| us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
-6000 | ||
| us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-1141000 | ||
| us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-963000 | ||
| us-gaap |
Increase Decrease In Notes Receivable Current
IncreaseDecreaseInNotesReceivableCurrent
|
-1853000 | ||
| us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-19743000 | ||
| us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
6470000 | ||
| us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
1548000 | ||
| us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
-88000 | ||
| us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
-2000 | ||
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-7370000 | ||
| us-gaap |
Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
|
-1118000 | ||
| us-gaap |
Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
|
3489000 | ||
| us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
-4848000 | ||
| us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
7508000 | ||
| us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-6933000 | ||
| us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
6791000 | ||
| chrs |
Increase Decrease In Advance Payments Under License Agreement
IncreaseDecreaseInAdvancePaymentsUnderLicenseAgreement
|
-130000 | ||
| chrs |
Increase Decrease In Advance Payments Under License Agreement
IncreaseDecreaseInAdvancePaymentsUnderLicenseAgreement
|
-1192000 | ||
| chrs |
Increase Decrease In Contingent Liability To Collaborator
IncreaseDecreaseInContingentLiabilityToCollaborator
|
10500000 | ||
| chrs |
Increase Decrease In Contingent Liability To Collaborator
IncreaseDecreaseInContingentLiabilityToCollaborator
|
15850000 | ||
| us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
-112000 | ||
| us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
-29000 | ||
| us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-53902000 | ||
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
2321000 | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-2449000 | ||
| us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
75000000 | ||
| us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
25000000 | ||
| chrs |
Proceeds From Issuance Follow On Offering Net Of Underwriters Discounts And Commissions
ProceedsFromIssuanceFollowOnOfferingNetOfUnderwritersDiscountsAndCommissions
|
112800000 | ||
| us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
739000 | ||
| us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
364000 | ||
| us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
547000 | ||
| us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
168926000 | ||
| us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
|
-82000 | ||
| us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
62690000 | ||
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<div> <p style="text-align:justify;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;">Use of Estimates </p> <p style="text-align:justify;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 stock-based compensation, valuation of deferred tax assets, impairment of goodwill and long-lived assets, the valuation of acquired intangible assets, clinical trial accruals, revenue recognition period, contingent consideration, 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> | ||
| CY2016Q2 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
729000 | |
| CY2015Q2 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
400000 | |
| CY2016Q2 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
4216000 | |
| CY2016Q2 | chrs |
Accrued Clinical And Manufacturing Liabilities Current
AccruedClinicalAndManufacturingLiabilitiesCurrent
|
6529000 | |
| CY2015Q4 | chrs |
Accrued Clinical And Manufacturing Liabilities Current
AccruedClinicalAndManufacturingLiabilitiesCurrent
|
11681000 | |
| us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | ||
| CY2016Q2 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
4025000 | |
| CY2016Q2 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
18.00 | |
| CY2016Q2 | us-gaap |
Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
|
69000000 | |
| us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-356000 | ||
| us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-38000 | ||
| us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
1 | ||
| us-gaap |
Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Transfers Into Level3
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersIntoLevel3
|
0 | ||
| CY2015 | us-gaap |
Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Transfers Into Level3
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersIntoLevel3
|
0 | |
| us-gaap |
Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Transfers Out Of Level3
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersOutOfLevel3
|
0 | ||
| CY2015 | us-gaap |
Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Transfers Out Of Level3
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersOutOfLevel3
|
0 | |
| CY2015Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
14024000 | |
| CY2015Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
3520000 | |
| CY2015Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
4666000 | |
| CY2016Q2 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
2049000 | |
| CY2015Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
1664000 | |
| CY2016Q2 | chrs |
Shares Of Common Stock Drawdown
SharesOfCommonStockDrawdown
|
4025000 | |
| CY2016Q2 | chrs |
Gross Proceeds From Issuance Of Common Stock
GrossProceedsFromIssuanceOfCommonStock
|
72500000 | |
| CY2016Q2 | us-gaap |
Payments For Underwriting Expense
PaymentsForUnderwritingExpense
|
3000000 | |
| CY2016Q2 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
500000 | |
| CY2016Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
40698309 | |
| CY2015Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
37673740 | |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
39897142 | ||
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
35544166 | ||
| CY2015Q2 | us-gaap |
Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
|
992 | |
| us-gaap |
Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
|
7277 | ||
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
14596534 | ||
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
7940823 |
