$CHRS
Coherus BioSciences Inc

2016 Q4 Form 10-Q Financial Statement

#000156459016028634 Filed on November 09, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $844.0K $162.8M $7.167M
YoY Change -91.72% 2172.01% -55.35%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $15.30M $13.60M $10.20M
YoY Change 39.09% 33.33% 155.0%
% of Gross Profit
Research & Development $59.00M $64.57M $68.22M
YoY Change 14.79% -5.34% 268.83%
% of Gross Profit
Depreciation & Amortization $800.0K $800.0K $700.0K
YoY Change 33.33% 14.29% 264.58%
% of Gross Profit
Operating Expenses $74.30M $78.22M $78.38M
YoY Change 19.07% -0.21% 248.76%
Operating Profit $84.62M -$71.22M
YoY Change -218.82% 1008.78%
Interest Expense -$2.400M $2.420M $33.00K
YoY Change 7233.33% 3200.0%
% of Operating Profit 2.86%
Other Income/Expense, Net -$100.0K $1.600M -$235.0K
YoY Change -75.0% -780.85% -84.23%
Pretax Income -$75.90M $83.80M -$71.50M
YoY Change 44.3% -217.2% 805.06%
Income Tax
% Of Pretax Income
Net Earnings -$75.92M $83.94M -$71.33M
YoY Change 44.91% -217.67% 806.17%
Net Earnings / Revenue -8995.38% 51.55% -995.31%
Basic Earnings Per Share -$1.71 $1.93 -$1.86
Diluted Earnings Per Share -$1.71 $1.67 -$1.86
COMMON SHARES
Basic Shares Outstanding 43.65M 43.47M 38.43M
Diluted Shares Outstanding 51.58M 38.43M

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $124.9M $159.7M $153.7M
YoY Change -21.05% 3.9% 52.33%
Cash & Equivalents $125.8M $159.7M $153.7M
Short-Term Investments
Other Short-Term Assets $2.986M $17.20M $35.10M
YoY Change 6.76% -51.0% 93.92%
Inventory
Prepaid Expenses $31.63M
Receivables
Other Receivables
Total Short-Term Assets $161.5M $177.3M $189.3M
YoY Change -18.18% -6.34% 59.24%
LONG-TERM ASSETS
Property, Plant & Equipment $10.80M $10.70M $8.652M
YoY Change 2.82% 23.67% 135.11%
Goodwill $943.0K
YoY Change 0.0%
Intangibles $2.620M
YoY Change 0.0%
Long-Term Investments
YoY Change
Other Assets $1.879M $800.0K $800.0K
YoY Change 1186.99% 0.0% -73.89%
Total Long-Term Assets $16.99M $15.10M $13.00M
YoY Change 13.25% 16.17% 26.11%
TOTAL ASSETS
Total Short-Term Assets $161.5M $177.3M $189.3M
Total Long-Term Assets $16.99M $15.10M $13.00M
Total Assets $178.5M $192.4M $202.3M
YoY Change -15.96% -4.89% 56.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $19.71M $22.90M $25.20M
YoY Change -24.06% -9.13% 471.3%
Accrued Expenses $28.02M $24.90M $25.20M
YoY Change 16.11% -1.19% 227.27%
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 $56.40M $58.40M $82.50M
YoY Change -46.8% -29.21% 71.6%
LONG-TERM LIABILITIES
Long-Term Debt $100.3M $99.90M $0.00
YoY Change
Other Long-Term Liabilities $2.500M $2.300M $79.80M
YoY Change 46.89% -97.12% 61284.62%
Total Long-Term Liabilities $102.8M $102.2M $79.80M
YoY Change 5939.95% 28.07% 61284.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $56.40M $58.40M $82.50M
Total Long-Term Liabilities $102.8M $102.2M $79.80M
Total Liabilities $158.0M $159.5M $161.7M
YoY Change -27.96% -1.36% 34.75%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $20.50M $32.90M $40.60M
YoY Change
Total Liabilities & Shareholders Equity $178.5M $192.4M $202.3M
YoY Change -15.95% -4.89% 56.6%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income -$75.92M $83.94M -$71.33M
YoY Change 44.91% -217.67% 806.17%
Depreciation, Depletion And Amortization $800.0K $800.0K $700.0K
YoY Change 33.33% 14.29% 264.58%
Cash From Operating Activities -$86.80M -$62.00M -$59.70M
YoY Change -1650.0% 3.85% 1070.59%
INVESTING ACTIVITIES
Capital Expenditures -$3.600M -$500.0K -$2.400M
YoY Change 140.0% -79.17% 200.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 -$800.0K
YoY Change -100.0%
Cash From Investing Activities -$3.600M -$500.0K -$3.200M
YoY Change 157.14% -84.38% 300.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 56.00M 1.300M 10.50M
YoY Change 18566.67% -87.62% -683.33%
NET CHANGE
Cash From Operating Activities -86.80M -62.00M -59.70M
Cash From Investing Activities -3.600M -500.0K -3.200M
Cash From Financing Activities 56.00M 1.300M 10.50M
Net Change In Cash -34.40M -61.20M -52.40M
YoY Change -864.44% 16.79% 580.52%
FREE CASH FLOW
Cash From Operating Activities -$86.80M -$62.00M -$59.70M
Capital Expenditures -$3.600M -$500.0K -$2.400M
Free Cash Flow -$83.20M -$61.50M -$57.30M
YoY Change -1271.83% 7.33% 1232.56%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2016-09-30
dei Document Type
DocumentType
10-Q
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2016Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
43652743
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.25
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.68
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.25
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.68
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41096783
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
60000
CY2015Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1560000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
195430000
CY2015Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
10166000
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-71217000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
36303000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
25074000
us-gaap Operating Expenses
OperatingExpenses
231733000
us-gaap Operating Expenses
OperatingExpenses
186703000
us-gaap Operating Income Loss
OperatingIncomeLoss
-42471000
us-gaap Operating Income Loss
OperatingIncomeLoss
-166860000
us-gaap Interest Expense
InterestExpense
33000
CY2015Q3 us-gaap Profit Loss
ProfitLoss
-71485000
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
158226000
CY2015Q3 us-gaap Operating Expenses
OperatingExpenses
78384000
CY2016Q3 us-gaap Operating Expenses
OperatingExpenses
78218000
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
84617000
CY2016Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
13645000
CY2015Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
68218000
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
64573000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-489000
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2016
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Trading Symbol
TradingSymbol
CHRS
dei Entity Registrant Name
EntityRegistrantName
Coherus BioSciences, Inc.
dei Entity Central Index Key
EntityCentralIndexKey
0001512762
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
83939000
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
-71334000
CY2015Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-235000
CY2016Q3 us-gaap Profit Loss
ProfitLoss
83844000
CY2016Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-95000
CY2015Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-151000
CY2016Q3 us-gaap Interest Expense
InterestExpense
2420000
CY2015Q3 us-gaap Interest Expense
InterestExpense
33000
CY2016Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.93
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
4414000
CY2015Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.86
CY2016Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.67
CY2015Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.86
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43469986
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38426734
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51581298
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38426734
CY2016Q3 us-gaap Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty
30000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-428000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
2199000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
3745000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-161000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
52000
CY2015Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-71438000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-52005000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-171306000
CY2015Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-151000
CY2016Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
83901000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
1268000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
161629000
us-gaap Share Based Compensation
ShareBasedCompensation
19736000
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
11194000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2331000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-88000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1642000
us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
-688000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-75000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-93013000
chrs Increase Decrease In Advance Payments Under License Agreement
IncreaseDecreaseInAdvancePaymentsUnderLicenseAgreement
-180000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-51577000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-170817000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36510756
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41096783
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36510756
CY2016Q3 chrs Related Party Transaction Research And Development Expense
RelatedPartyTransactionResearchAndDevelopmentExpense
7899000
CY2015Q3 chrs Related Party Transaction Research And Development Expense
RelatedPartyTransactionResearchAndDevelopmentExpense
10034000
chrs Related Party Transaction Research And Development Expense
RelatedPartyTransactionResearchAndDevelopmentExpense
32019000
CY2016Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-95000
CY2015Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-71287000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
723000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
-38000
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
8000
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
128000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-1300000
us-gaap Share Based Compensation
ShareBasedCompensation
11547000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1141000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1877000
us-gaap Increase Decrease In Notes Receivable Current
IncreaseDecreaseInNotesReceivableCurrent
-1853000
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-18111000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-3579000
us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
-1691000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-42000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
19100000
us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
1072000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
13771000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-383000
chrs Increase Decrease In Advance Payments Under License Agreement
IncreaseDecreaseInAdvancePaymentsUnderLicenseAgreement
-1192000
chrs Increase Decrease In Contingent Liability To Collaborator
IncreaseDecreaseInContingentLiabilityToCollaborator
-66255000
chrs Increase Decrease In Contingent Liability To Collaborator
IncreaseDecreaseInContingentLiabilityToCollaborator
15850000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
14000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
326000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-165653000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-113557000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2949000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4720000
us-gaap Increase In Restricted Cash
IncreaseInRestrictedCash
785000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-2949000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-5505000
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 Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
10000000
chrs Proceeds From Issuance Common Stock Offering Net Of Underwriters Discounts And Commissions
ProceedsFromIssuanceCommonStockOfferingNetOfUnderwritersDiscountsAndCommissions
69472000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
739000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1015000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
-127000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
1451000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
170180000
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
150392000
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="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 &#8220;Company&#8221;, &#8220;Coherus&#8221;, &#8220;we&#8221;, &#8220;our&#8221; or &#8220;us&#8221;) 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="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 September 30, 2016, the Company had an accumulated deficit of $461.4 million and cash and cash equivalents of $159.7 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&#160;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 agreement with Daiichi Sankyo<font style="color:#000000;"> </font>will be sufficient to fund its planned expenditures and meet the obligations through at least the next 12 months. In November 2016, the Company entered into an ATM Offering Program with Cowen and Company, LLC (&#8220;Cowen&#8221;), as its sales agent, pursuant to which the Company may sell, through Cowen, up to an aggregate of $100.0 million in shares of its common stock (see Note 11). 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;">&nbsp;&nbsp;</font></p></div>
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
-162000
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
CY2016Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
15925000
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
14024000
CY2016Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5250000
CY2015Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3520000
CY2016Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
753000
CY2015Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
636000
CY2016Q3 chrs Accrued Clinical And Manufacturing Liabilities Current
AccruedClinicalAndManufacturingLiabilitiesCurrent
10725000
CY2015Q4 chrs Accrued Clinical And Manufacturing Liabilities Current
AccruedClinicalAndManufacturingLiabilitiesCurrent
11681000
CY2016Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5505000
CY2015Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4666000
CY2016Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2604000
CY2015Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1664000
CY2016Q3 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
40341
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
439000
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1891000
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
2462000
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
2518000
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
2595000
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
5190000
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
15095000
CY2015Q4 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
50000
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
CY2016Q3 chrs Weighted Average Number Of Shares Outstanding Basic Including Shares Subject To Repurchase
WeightedAverageNumberOfSharesOutstandingBasicIncludingSharesSubjectToRepurchase
43469986
CY2015Q3 chrs Weighted Average Number Of Shares Outstanding Basic Including Shares Subject To Repurchase
WeightedAverageNumberOfSharesOutstandingBasicIncludingSharesSubjectToRepurchase
38426734
chrs Weighted Average Number Of Shares Outstanding Basic Including Shares Subject To Repurchase
WeightedAverageNumberOfSharesOutstandingBasicIncludingSharesSubjectToRepurchase
41096783
chrs Weighted Average Number Of Shares Outstanding Basic Including Shares Subject To Repurchase
WeightedAverageNumberOfSharesOutstandingBasicIncludingSharesSubjectToRepurchase
36515581
us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
4825
CY2016Q3 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
83939000
CY2015Q3 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
-71334000
us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
-51416000
us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
-170869000
CY2016Q3 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
2361000
CY2016Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
86300000
CY2015Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-71334000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-51416000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-170869000
CY2016Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3637441
CY2016Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
4473871
CY2016Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4989524
CY2015Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7924249
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
14494432
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7924249

Files In Submission

Name View Source Status
0001564590-16-028634-index-headers.html Edgar Link pending
0001564590-16-028634-index.html Edgar Link pending
0001564590-16-028634.txt Edgar Link pending
0001564590-16-028634-xbrl.zip Edgar Link pending
chrs-10q_20160930.htm Edgar Link pending
chrs-20160930.xml Edgar Link completed
chrs-20160930.xsd Edgar Link pending
chrs-20160930_cal.xml Edgar Link unprocessable
chrs-20160930_def.xml Edgar Link unprocessable
chrs-20160930_lab.xml Edgar Link unprocessable
chrs-20160930_pre.xml Edgar Link unprocessable
chrs-ex311_10.htm Edgar Link pending
chrs-ex312_8.htm Edgar Link pending
chrs-ex321_12.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending