Coherus biosciences, inc. (CHRS)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14
Operating activities
Net income (loss)

35,600

39,227

47,043

23,567

-20,004

-62,596

-58,826

-43,685

-44,302

-49,069

-58,993

-55,402

-74,822

-75,944

83,844

-70,150

-65,538

-52,580

-71,485

-59,034

-40,839

-29,023

-7,914

-25,070

-25,170

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization

607

1,096

839

674

691

578

798

902

922

928

770

837

865

797

753

729

717

601

636

400

232

235

192

131

116

Remeasurement of fair-value contingent consideration

-

-

-

-

-

-10

-25

-3,403

208

530

340

-3,520

390

560

-1,580

5,135

190

185

135

65

4,214

-

-

-

-

Provision for other receivables

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-1,300

-

-

-

-

-

-

-

-

Stock-based compensation expense

9,555

7,272

8,833

7,992

9,494

8,827

8,560

8,690

8,720

8,332

8,183

9,072

7,810

7,685

8,270

6,148

5,318

5,174

4,744

4,621

2,182

3,826

2,735

1,210

3,291

Non-cash accretion of discount on marketable securities

-

-

-

-

-

32

155

70

44

6

30

101

19

-

-

-

-

-

-

-

-

-

-

-

-

Remeasurement of convertible preferred stock warrant and embedded derivative liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

526

707

6,011

8,655

Preferred stock issued in exchange for services

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

37

100

10

Non-cash interest expense from amortization of debt discount

627

613

599

580

547

384

375

367

358

350

342

334

326

318

312

304

107

0

1

-17

-22

-

-

-6,637

2,740

Excess and obsolete inventory

0

-

-

-

410

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other non-cash adjustments

636

-

-

-

-50

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess and obsolete inventory

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash operating lease expense

510

484

487

413

405

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Trade receivables, net

25,626

52,346

12,261

30,909

46,476

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Receivables from collaboration and license agreement

-

-

-

-

-

-

-

-

-

0

0

-26

-1,833

1,440

0

-776

-365

1,020

-914

-561

-402

-

-

-

-

Inventory

9,608

17,033

14,445

10,274

6,432

5,484

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Receivables from related party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-261

-17

Notes receivable from related parties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-108

1

Prepaid manufacturing

3,100

3,197

-1,367

-1,501

343

-1,870

-494

-3,936

-763

-1,791

-12,453

5,533

923

34,230

1,632

-10,967

-8,776

-

-

-

-

2,535

12,162

-1,454

1,449

Other prepaid and current assets

1,788

1,473

-1,977

-169

2,799

-798

545

-178

-715

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other prepaid assets

-

-

-

-

-

-

-

-

-

-

-658

-1,803

-2,076

-

-

-

-

-

-

-

-

-

-

-

-

Other assets

-

-

-

-

-

-

-

-

-

-

-306

-2,169

-118

2,468

89

-4,336

668

998

783

1,937

-389

-

-

-

-

Other assets, non-current

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-2

-86

0

-40

-771

769

-

-

-

-

Accounts payable

-4,959

11,329

-5,460

7,988

-3,964

7,456

-5,424

-1,265

-1,068

5,388

-5,372

3,439

-7,265

-3,323

5,728

-573

-6,797

-696

12,021

4,052

3,027

3,077

-1,010

-2,340

3,902

Accounts payable - related parties

-

-

-

-

-

0

0

-34

-199

228

-383

-1,721

1,232

-1,983

430

-1,064

-54

456

-2,417

1,786

1,703

-2,943

1,943

732

1,905

Accrued rebates, fees and reserve

15,037

13,999

16,471

8,705

11,945

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued rebates, fees and returns

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued compensation

-5,632

5,873

2,542

3,518

-1,898

2,638

2,717

1,158

1,953

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued and other liabilities

2,135

970

8,099

-710

2,027

-1,717

5,483

-2,200

-1,497

-4,206

1,229

-6,271

-4,831

-

4,773

-113

-4,735

-

6,263

5,564

1,944

-

797

2,194

-2,493

Lease liabilities

-489

-420

-570

-514

-506

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred revenue

-

-

-

-

-

-

-

-

-

0

0

-1,394

-168

-223

-86,080

5,432

-12,365

32,677

-7,174

12,303

-5,512

-6,037

6,439

10,059

9,387

Advance payments under license agreements

-

-

-

-

-

-

-

-

-

-

-

-

-

-80

-50

230

-360

-

-

-

-

-

-

-1,192

1,192

Contingent liability to collaborator

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

2,500

5,000

12,650

Other liabilities, non-current

0

0

0

0

-30

-108

-103

-104

-113

-90

53

178

101

114

126

-54

-58

190

355

-16

-13

-12

-4

322

-7

Net cash provided by (used in) operating activities

13,477

17,710

54,951

12,677

-56,983

-47,363

-42,789

-35,530

-33,584

-29,922

-41,513

-55,574

-73,277

-86,892

-61,948

-27,389

-76,316

5,567

-59,655

-20,840

-33,062

-33,285

-5,170

-217

14,745

Net cash acquired from acquisition of InteKrin Therapeutics Inc.

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

2,334

Purchases of property and equipment

1,783

387

918

182

335

214

489

5

81

109

1,812

961

1,691

3,566

500

301

2,148

1,444

2,399

1,008

1,313

489

807

1,293

260

Proceeds from disposal of property and equipment

167

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of investments in marketable securities

0

0

5,371

0

14,864

0

0

29,769

13,100

0

14,482

9,975

49,887

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-1,616

-6,062

-289

8,818

-15,199

15,786

12,811

-16,604

-13,181

14,391

28,706

4,064

-51,578

-3,566

-500

-301

-2,148

-1,444

-3,184

-1,008

-1,313

-499

-807

-1,293

2,074

Financing activities
Proceeds from common stock offering, net of underwriters discounts, commissions and offering costs

0

0

0

0

8,153

1,462

-211

98,844

1,653

-68,561

75,000

0

124,866

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of convertible notes

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

75,000

-

-

-

-

-

-

-

-

Proceeds from issuance of convertible notes - related parties

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

25,000

-

-

-

-

-

-

-

-

Proceeds from term loan, net of issuance costs

0

0

-106

185

72,876

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuances of common stock upon exercise of stock options

4,803

374

3,789

947

448

304

1,269

284

225

38

99

80

265

1,355

1,593

66

298

414

468

379

168

36

0

9

10

Payments of common stock offering issuance costs

-

-

-

-

-

-

-

-

-

-

17

264

134

-

-

-

-

-

-

-

-

-

-

-

-

Payments of convertible notes issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

284

455

-

-

-

-

-

-

-

-

Taxes paid related to net share settlement of bonus payout in RSUs

880

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by financing activities

3,923

1,200

3,683

3,010

81,477

2,593

1,058

99,892

1,878

6,892

75,082

-184

124,997

55,999

1,254

69,083

99,843

330

10,463

112,625

-729

83,766

-1,784

53,966

8

Repurchase of restricted common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

2

Effect of exchange rate changes in cash, cash equivalents and restricted cash

0

-106

59

-93

-136

138

117

226

-13

-7

-70

122

-165

-271

-45

-35

-47

82

-21

175

-152

-465

-233

96

-64

Net increase in cash, cash equivalents and restricted cash

15,784

12,742

58,404

24,412

9,159

-28,846

-28,803

47,984

-44,900

-8,646

62,205

-51,572

-23

-34,730

-61,239

41,358

21,332

4,535

-52,397

90,952

-35,256

49,517

-7,994

52,552

16,763

Supplemental disclosure of cash flow information
Unpaid upfront license fee to Innovent included in Accounts Payable as of March 31, 2020

5,000

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash bonus payment settled in common stock

1,498

-1,350

0

0

1,350

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Supplemental disclosures of non-cash investing and financing activities
Right-of-use assets obtained in exchange for lease obligations related to operating leases

1,388

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Right-of-use assets obtained in exchange for lease obligations related to finance leases

257

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-