Coherus Is Lowering Its Guidance Range For Combined R&D And SG&A Expenses For 2023 From $315M To $335M To A Range Of $300M-$310M; Lowering Its Guidance For 2023 Net Product Revenue To A Range Of $250M-$260M Vs $288.19M Est.
Portfolio Pulse from Benzinga Newsdesk
Coherus has lowered its 2023 guidance for combined R&D and SG&A expenses from $315M-$335M to $300M-$310M. It has also reduced its 2023 net product revenue guidance to $250M-$260M from an estimated $288.19M. This is primarily due to the delay in the commercial launches of UDENYCA® On-body Injector and LOQTORZI™.
November 06, 2023 | 10:42 pm
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Coherus has lowered its 2023 financial guidance due to delayed product launches. This could negatively impact investor sentiment and the company's stock price in the short term.
The lowering of financial guidance is often seen as a negative signal by investors, as it indicates that the company's performance may not meet previous expectations. In this case, the delay in product launches is the primary reason for the lowered guidance, which could lead to reduced revenues and increased costs. This could negatively impact the company's stock price in the short term.
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