REDWOOD CITY, Calif. (AP) — REDWOOD CITY, Calif. (AP) — Coherus BioSciences Inc. (CHRS) on Monday reported a loss of $75.7 million in its first quarter.
The Redwood City, California-based company said it had a loss of 96 cents per share. Losses, adjusted for stock option expense and non-recurring costs, came to 75 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 61 cents per share.
The drug developer posted revenue of $32.4 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $50.7 million.
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