Coherus BioSciences, Inc. (NASDAQ:CHRS) Q2 2024 Earnings Conference Call August 8, 2024 5:00 PM ET

Company Participants

Jami Taylor - Head of Investor Relations
Dennis Lanfear - President and Chief Executive Officer
Paul Reider - Chief Commercial Officer
Theresa LaVallee - Chief Development Officer
Rosh Dias - Chief Medical Officer
Bryan McMichael - Chief Financial Officer

Conference Call Participants

Brian Cheng - JPMorgan Chase & Co.
Douglas Tsao - H.C. Wainwright & Co.
Billal Jahangiri - Truist Securities
Michael Nedelcovych - TD Cowen
Colleen Kusy - Robert W. Baird & Co.

Operator

Good day, and thank you for standing by. Welcome to the Coherus BioSciences’ Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker’s presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today’s conference is being recorded.

I would now like to hand the conference over to Jami Taylor, Head of Investor Relations. Please go ahead.

Jami Taylor

Thank you, operator. Good afternoon, and welcome to Coherus BioSciences’ second quarter 2024 earnings conference call. Joining me today to discuss our results are Denny Lanfear, Chief Executive Officer of Coherus; Bryan McMichael, Chief Financial Officer; Paul Reider, Chief Commercial Officer; Dr. Rosh Dias, Chief Medical Officer; and Dr. Theresa LaVallee, Chief Development Officer.

Before we get started, I would like to remind you that today’s call includes forward-looking statements regarding Coherus’ current expectations about future events. These statements include, but are not limited to, the following. Expectations for the timing of future clinical studies, expectations about future partnerships, projections of future revenue and expenses. All of these forward-looking statements involve substantial risks and uncertainties that are beyond our control and could cause actual results, performance, or achievements to differ from those implied by the forward-looking statements.

These statements are not guarantees of future performance and are subject to substantial risks and uncertainties, including risks and uncertainties inherent in the clinical drug development process that are discussed in our press release that we issue today, as well as the documents that we file with the SEC. Forward-looking statements provided on the call today are made as of this date, and we undertake no duty to update or revise any forward-looking statements.

And now, I’ll turn the call over to Denny.

Dennis Lanfear

Thank you, Jami. Good afternoon, everyone, and thank you for joining us. Today, we’re pleased to share updates from the second quarter 2024, a period in which we made definitive progress in executing upon our plan to align all aspects of our business to a focus on oncology. Our strategic focus on oncology is proving its merit. With streamlined operations and a recently streamlined portfolio, we grew total sales 10% year-over-year in the second quarter, from $59 million to $65 million, even without CIMERLI, the ophthalmology biosimilar we divested earlier this year.