View Filing Data

Research and development (includes related party of $11,481 and $4,265 for the three months ended March 31, 2015 and 2014, respectively)

$ 5,810

$ 3,596

Operating expenses:

36,467

13,936

General and administrative (includes related party of $66 and $0 for the three months ended March 31, 2015 and 2014, respectively)

6,091

3,421

Total operating expenses

42,558

17,357

Loss from operations

(36,748)

(13,761)

Interest expense (includes related party of $0 and $1,889 for the three months the ended March 31, 2015 and 2014, respectively)

(2,741)

Other expense, net

(4,091)

(8,668)

Net loss

(40,839)

(25,170)

Net loss attributable to non-controlling interest

114

Net loss attributable to Coherus

$ (40,725)

$ (25,170)

Net loss per share attributable to Coherus, basic and diluted

$ (1.22)

$ (6.03)

Weighted-average number of shares used in computing net loss per share attributable to Coherus, basic and diluted

33,377,298

4,177,230

Baxter License Agreement

Revenue:

$ 5,810

$ 3,090

Revenue:

Organization Consolidation And Presentation Of Financial Statements [Abstract]

$ 497

$ 506

^[1]

[1]	Represents revenue from Daiichi Sankyo Company, a holder of more than 10% of our common stock until the closing of our initial public offering (“IPO”) on November 12, 2014.

Condensed Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Research and development from transactions with related party	$ 11,481	$ 4,265
General and administrative expenses from transactions with related party	66	0
Interest expense from transactions with related party	$ 0	$ 1,889

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (40,839)	$ (25,170)
Other comprehensive loss:
Foreign currency translation adjustments, net of tax	(123)	(64)
Comprehensive loss	(40,962)	(25,234)
Comprehensive loss attributable to non-controlling interest	114
Comprehensive loss attributable to Coherus	$ (40,848)	$ (25,234)

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Operating activities
Net loss	$ (40,839)	$ (25,170)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	232	116
Remeasurement of contingent consideration	4,214
Remeasurement of convertible preferred stock warrants		8,655
Preferred stock issued in exchange for services		10
Non-cash interest (income) expense and amortization of (receivable) debt discount	(22)	2,740
Stock-based compensation expense	2,182	3,291
Changes in operating assets and liabilities:
Receivables from collaboration and license agreement	402
Receivables from related party		17
Notes receivable from related parties		(1)
Prepaid assets		(1,449)
Other current assets	389
Other assets	(768)
Other assets - non-current	(1)
Accounts payable	3,027	3,902
Accounts payable - related parties	1,703	1,905
Accrued and other liabilities	1,944	(2,493)
Deferred revenue	(5,512)	9,387
Advance payments under license agreements with related party		1,192
Contingent liability to collaborator		12,650
Other liabilities, non-current	(13)	(7)
Net cash (used in) provided by operating activities	(33,062)	14,745
Investing activities
Net cash acquired from acquisition of InteKrin Therapeutics, Inc.		2,334
Purchases of property and equipment	(1,313)	(260)
Net cash (used in) provided by investing activities	(1,313)	2,074
Financing activities
Proceeds from issuances of common stock upon exercise of stock options	168	10
Repurchase of restricted common stock		(2)
Net cash (used in) provided by financing activities	(729)	8
Effect of exchange rate changes in cash and cash equivalents	(152)	(64)
Net (decrease) increase in cash and cash equivalents	(35,256)	16,763
Cash and cash equivalents at beginning of period	150,392	39,554
Cash and cash equivalents at end of period	115,136	$ 56,317
Initial Public Offering
Financing activities
Payments of offering costs	(855)
Follow-On Public Offering
Financing activities
Payments of offering costs	$ (42)

Organization and Operations

3 Months Ended

Mar. 31, 2015

Organization and Operations

1.	Organization and Operations

Description of the Business

Coherus BioSciences, Inc. (the “Company”, “Coherus”, “we”, “our” or “us”) was incorporated in the state of Delaware as BioGenerics, Inc. in September 2010 and changed its name to Coherus BioSciences, Inc. in April 2012. The Company is a late-stage clinical biologics platform company, focused on the global biosimilar market. The Company’s headquarters and laboratories are located in Redwood City, California and in Camarillo, California, respectively. The Company operates in one segment.

The Company’s clinical stage pipeline consists of a long-acting form of granulocyte colony-stimulating factor (“G-CSF”), and two anti-inflammatory agents targeting tumor necrosis factor (“TNF”):

The Company’s long-acting G-CSF product candidate, CHS-1701, is being developed as a pegfilgrastim (Neulasta) biosimilar. The Company has initiated a pivotal pharmacokinetic (PK) and pharmacodynamics (PD) study for CHS-1701 in the United States (U.S.), which, if positive, the Company believes will support the planned filing of a biologics license application (“BLA”) in the U.S. An additional immunogenicity study is planned in healthy volunteers pursuant to this BLA and is projected to be concluded in 2015.

The Company’s most clinically advanced anti-TNF product candidate, CHS-0214, is being developed as an etanercept (Enbrel) biosimilar that the Company has partnered with Baxter International Inc., Baxter Healthcare Corporation and Baxter Healthcare SA (collectively “Baxter”) and Daiichi Sankyo Company, Limited (“Daiichi Sankyo”) to develop and commercialize in key markets outside of the U.S. The Company is currently enrolling two Phase 3 clinical trials in rheumatoid arthritis and psoriasis. The Company expects that results of these trials, if positive, combined with data from our Phase 1 studies, will support the expected filing of a marketing application in Europe and Japan in 2016. The Company has retained the development and commercial rights in the U.S. However, the therapeutic protein in etanercept is subject to certain originator-controlled U.S. patents expiring in 2028 and 2029. Assuming these patents are valid and enforceable, and that the Company would be unable to obtain a license to them, the Company does not expect to commercialize CHS-0214 in the U.S. prior to their expiration. On April 14, 2015, the Company obtained positive results of a repeat Phase 1 PK bioequivalence study for CHS-0214. This study was initiated due to the change in the manufacturing location from the U.S. to the European Union (E.U.) of CHS-0214, and compared the E.U. produced CHS-0214 to a lot of Enbrel manufactured in Europe. In May 2015, the Company completed the enrollment of the Phase 3 studies, as such received $35.0 million of the milestone payment from Baxter.

The Company’s second anti-TNF product candidate, CHS-1420, is being developed as an adalimumab (Humira) biosimilar. This product successfully completed a pivotal Phase 1 PK study in August 2014 by meeting the primary study endpoint. The Company plans to initiate a Phase 3 study in psoriasis in mid-2015 to support the planned filing of a marketing application in the U.S. in 2016 and the E.U. in 2017.

In March 2015, the Company’s registration statement on Form S-1 (File No. 333-202936) relating to its follow-on public offering (“Follow-on Offering”) of its common stock was declared effective by the Securities and Exchange Commission (“SEC”). The price of the shares sold in the Follow-on Offering was $29.00 per share. The Follow-on Offering closed on April 7, 2015, pursuant to which the Company sold 4,137,931 shares of common stock. The Company granted the underwriters the option to purchase up to an additional 620,689 shares of common stock at the public offering price less underwriting discounts and commissions, which expired on April 30, 2015. The Company received total gross proceeds from the offering of $120.0 million. After deducting underwriting discounts and commissions of $7.2 million and offering expenses of approximately $0.6 million, the net proceeds were approximately $112.2 million.

Need to Raise Additional Capital

As of March 31, 2015, the Company had an accumulated deficit of $227.5 million and cash and cash equivalents of $115.1 million. In April 2015, the Company completed its Follow-on Offering and raised net proceeds of approximately $112.2 million, after deducting underwriting discounts and commissions and offering expenses. The Company believes that its current available cash and cash equivalents together with the cash received from the Follow-on Offering will be sufficient to fund its planned expenditures and meet the Company’s obligations through at least the next twelve months. However, if the anticipated operating results are not achieved in future periods, the planned expenditures may need to be reduced in order to extend the time period over which the then-available resources would be able to fund the operations. 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.

Basis of Presentation and Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2015

Accounting Policies [Abstract]

Basis of Presentation and Summary of Significant Accounting Policies

2.	Basis of Presentation and Summary of Significant Accounting Policies

Unaudited Condensed Consolidated Financial Statements

The accompanying condensed consolidated financial statements include the accounts of Coherus and its wholly owned subsidiaries as of March 31, 2015: Coherus Intermediate Corp, InteKrin Therapeutics, Inc. (“InteKrin”), and Intekrin’s 82.5% majority owned subsidiary of InteKrin Russia. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X of the Securities Act of 1933, as amended (Securities Act). Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. These unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring accruals that the Company believes are necessary to fairly state the financial position and the results of the Company’s operations and cash flows for interim periods in accordance with U.S. GAAP. Interim-period results are not necessarily indicative of results of operations or cash flows for a full year or any subsequent interim period.

The accompanying condensed financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K filed with the SEC on March 23, 2015.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts and disclosures reported in the financial statements. Management uses significant judgment when making estimates related to its common stock valuation and related stock-based compensation, the valuations of the convertible preferred stock warrant liability and embedded derivative instruments, valuation of deferred tax assets, impairment of goodwill and long-lived assets, the valuation of acquired intangible assets, clinical trial accruals, revenue recognition period, as well as certain accrued liabilities. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates.

Foreign Currency

The functional currency of InteKrin Russia, which the Company acquired in February 2014, is the Russian Ruble. Accordingly, the financial statements of this subsidiary are translated into U.S. dollars using appropriate exchange rates. Unrealized gains or losses on translation are recognized in accumulated other comprehensive loss in the condensed consolidated balance sheet.

For the three months ended March 31, 2015 and 2014, the foreign exchange gains and losses recorded in other expense, net in the condensed consolidated statements of operations was a $91,000 gain and a $15,000 loss, respectively.

Segment Reporting

The Company operates and manages its business as one reportable and operating segment, which is the business of developing and commercializing biosimilar products, and small molecules as part of the InteKrin acquisition. The Company’s chief executive officer, who is the chief operating decision maker, reviews financial information on an aggregate basis for purposes of allocating resources and evaluating financial performance. Long-lived assets are primarily maintained in the United States of America.

The following table summarizes revenue by geographic region (in thousands):

	Three Months Ended
	March 31,
	2015		2014
United States	$	5,313	$	3,090
Rest of World		497		506
Total Revenue	$	5,810	$	3,596

Deferred Offering Costs

Deferred offering costs, which primarily consist of direct incremental legal and accounting fees relating to the Follow-on Offering, are capitalized. The deferred offering costs were recorded in additional paid-in capital upon the closing of the Follow-on offering on April 7, 2015. As of March 31, 2015, $0.5 million of deferred offering costs were capitalized in other assets – noncurrent on the condensed consolidated balance sheet. No deferred offering costs were capitalized as of December 31, 2014.

Derivative Liability

The Company has a derivative liability related to the contingent consideration associated with the acquisition of InteKrin. There were two contingent payments: (i) the completion of the first dosing of a human subject in the first Phase 2 clinical trial for InteKrin, (“Earn-Out Payment”) and (ii) upon the execution of any license, sublicense, development, collaboration, joint venture, partnering or similar agreement between the Company and the third party (“Compound Transaction Payment”). The derivative related to the contingent consideration is accounted for as a liability and remeasured to fair value as of each balance sheet date or settlement date and the related remeasurement adjustment is recognized as other income (expense), net in the statement of operations. See note 3 for further details regarding settlement of the Earn-Out Payment in March 2015. The Company determined the fair value of the two contingent consideration scenarios (the Earn-Out Payment and the Compound Transaction Payment) using a probability-weighted discounted cash flow approach. A probability weighted value was determined by summing the probability of achieving a contingent payment threshold by the respective contingent payment. The expected cash flows were discounted at a rate selected to capture the risk of achieving the contingent payment thresholds and earning the contingent payments. This risk is comprised of InteKrin’s continued development, a specific risk factor associated with meeting the contingent consideration threshold and related payout and counterparty risk associated with the payment of the contingent consideration.

Customer Concentration

Customers whose collaboration and license revenue accounted for 10% or more of total revenues were as follows:

	Three Months Ended
	March 31,
	2015			2014
Daiichi Sankyo - related party (1)	*				14	%
Baxter		91	%		86	%

* less than 10%

(1)	Represents revenue from Daiichi Sankyo Company, a holder of more than 10% of our common stock until the closing of our IPO on November 12, 2014.

Revenue Recognition

The Company recognizes revenue when persuasive evidence of an arrangement exists; transfer of technology has been completed, services have been performed or products have been delivered; the fee is fixed and determinable; and collection is reasonably assured.

The Company enters into collaboration and license agreements for the development and commercialization of biosimilar products. The Company’s performance obligations under the terms of these agreements may include (i) transfer of intellectual property rights (licenses), (ii) providing research and development services, (iii) the manufacture of drug materials for development purposes and (iv) participation on certain committees with the collaborators. Payments to the Company under these agreements may include nonrefundable upfront license fees, payments for research and development services, payments for the manufacture of drug materials, payments based upon the achievement of defined collaboration objectives and royalties on product sales. Under these agreements, the Company may convey the right to sell products resulting from the collaborative efforts of the parties in specific geographic territories.

For revenue agreements with multiple elements, the Company identifies the deliverables included within the agreement and evaluates which deliverables may represent separate units of accounting based on the achievement of certain criteria, including whether the delivered element has stand-alone value to the collaborator. Deliverables under the arrangement are a separate unit of accounting if (i) the delivered item has value to the customer on a standalone basis and (ii) if the arrangement includes a general right of return relative to the delivered item and delivery or performance of the undelivered items are considered probable and substantially within the Company’s control.

The Company determines how to allocate arrangement consideration to identified units of accounting based on the selling price hierarchy provided under the relevant guidance. The selling price used for each unit of accounting is based on vendor-specific objective evidence, if available, third party evidence if vendor-specific objective evidence is not available or estimated selling price if neither vendor-specific nor third-party evidence is available. Management may be required to exercise considerable judgment in determining whether a deliverable is a separate unit of accounting and in estimating the selling prices of identified units of accounting under its agreements.

Upfront payments received in connection with licenses of the Company’s technology rights are deferred if facts and circumstances dictate that the license does not have stand-alone value. Such payments are recognized as license revenue over the estimated period of performance that is generally consistent with the terms of the research and development obligations contained in the specific collaboration and license agreement. The Company regularly reviews the estimated period of performance based on the progress made under each arrangement. Amounts received as funding of research and development activities are recognized as revenue if the collaboration arrangement involves the sale of the Company’s research or development services. However, such funding is recognized as a reduction in research and development expense when the Company engages in a research and development project jointly with another entity, with both entities participating in project activities and sharing costs and potential benefits of the arrangement.

Payments that are contingent upon the achievement of a substantive milestone are recognized in their entirety in the period in which the milestone is achieved, assuming all other revenue recognition criteria are met. Milestones are defined as an event that can only be achieved based on the Company’s performance and there is substantive uncertainty about whether the event will be achieved at the inception of the arrangement. Events that are contingent only on the passage of time or only on counterparty performance are not considered milestones under accounting guidance. The Company’s evaluation includes an assessment of whether (a) the consideration is commensurate with either (1) the Company’s performance to achieve the milestone, or (2) the enhancement of the value of the delivered item(s) as a result of a specific outcome resulting from the Company’s performance to achieve the milestone, (b) the consideration relates solely to past performance and (c) the consideration is reasonable relative to all of the deliverables and payment terms within the arrangement. The Company evaluates factors such as the scientific, regulatory, commercial and other risks that must be overcome to achieve the respective milestone, the level of effort and investment required to achieve the respective milestone and whether the milestone consideration is reasonable relative to all deliverables and payment terms in the arrangement in making this assessment.

Other contingent payments in which a portion of the payment is refundable or adjusts based on future performance or non-performance (e.g., through a penalty or claw-back provision) are not considered to relate solely to the Company’s past performance, and therefore, not considered substantive. Non-substantive contingent payments are classified as deferred revenue if they are ultimately expected to result in revenue recognition. The Company recognizes non-substantive contingent payments over the remaining estimated period of performance once the specific objective is achieved. Any portion of the non-substantive contingent payments which may be required to be refunded to the collaborator are not included in deferred revenue and instead are reflected as contingent liability to collaborator on the condensed consolidated balance sheets.

Contingent payments associated with the achievement of specific objectives in certain contracts that are not considered substantive because the Company does not contribute effort to the achievement of such milestones are recognized as revenue upon achievement of the objective, as long as there are no undelivered elements remaining and no continuing performance obligations by the Company, assuming all other revenue recognition criteria are met.

The government contract with the Russian government is an agreement that provides the Company with payments for certain types of expenditures in return for research and development activities over a contractually defined period. Revenue from the government contract is recognized in the period during which the related costs are incurred and the related services are rendered, provided that the funds received are not refundable and applicable conditions under the government contract have been met. Funds received in advance are recorded as deferred revenue.

Comprehensive Loss

Comprehensive loss is composed of two components: net loss and other comprehensive loss. Other comprehensive loss refers to gains and losses that under U.S. GAAP are recorded as an element of stockholders’ equity, but are excluded from net loss. The other comprehensive loss included foreign currency translation adjustments for the three months ended March 31, 2015 and 2014.

Net Loss per Share Attributable to Coherus

Basic net loss per share attributable to Coherus is calculated by dividing the net loss attributable to Coherus by the weighted-average number of shares of common stock outstanding for the period, without consideration for potential dilutive common shares. Since the Company was in a loss position for all periods presented, basic net loss per share attributable to Coherus is the same as diluted net loss per share attributable to Coherus as the inclusion of all potential dilutive common shares would have been anti-dilutive. Shares of founders’ common stock subject to repurchase are excluded from the calculation of weighted average shares as the vesting of such shares is contingent upon continued services being rendered by such holders.

Recent Accounting Pronouncements

In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which converges the FASB and the International Accounting Standards Board standards on revenue recognition. Areas of revenue recognition that will be affected include, but are not limited to, transfer of control, variable consideration, allocation of transfer pricing, licenses, time value of money, contract costs and disclosures. This guidance is effective for the fiscal years and interim reporting periods beginning after December 15, 2016, at which time the Company may adopt the new standard under the full retrospective method or the modified retrospective method. Early adoption is not permitted. In April 2015, the FASB issued for public comment a proposed ASU that would defer the effective date of ASU 2014-09 by one year. The proposed deferral of ASU 2014-09 would permit public companies to apply the new revenue standard to annual reporting periods beginning after December 15, 2017. The Company is currently evaluating the impact that the adoption of ASU 2014-09 will have on its consolidated financial statements and related disclosures.

In August 2014, the FASB issued ASU No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. ASU 2014-15 requires management to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. In doing so, companies will have reduced diversity in the timing and content of footnote disclosures than under today’s guidance. ASU 2014-15 is effective for the Company in the first quarter of 2016 with early adoption permitted. The Company is currently evaluating the impact that the adoption of ASU 2014-15 will have on its consolidated financial statements and related disclosures.

The Company has reviewed other recent accounting pronouncements and concluded they are either not applicable to the business or no material effect is expected on the condensed consolidated financial statements as a result of future adoptions.

Fair Value Measurements

3 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

Fair Value Measurements

3.	Fair Value Measurements

Financial assets and liabilities are recorded at fair value. The carrying amounts of certain of the Company’s financial instruments, including cash and cash equivalents, accounts payable and other current liabilities approximate their fair value due to their short maturities. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The accounting guidance describes a fair value hierarchy based on three levels of inputs that may be used to measure fair value, of which the first two are considered observable and the last is considered unobservable. These levels of inputs are the following:

Level 1 — Quoted prices in active markets for identical assets or liabilities.

Level 2 — Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

The Company’s financial instruments consist of Level 1 assets and Level 3 liabilities. Where quoted prices are available in an active market, securities are classified as Level 1. Level 1 assets consist of highly liquid money market funds that are included in cash and cash equivalents, and restricted cash. There were no unrealized gains and losses in the Company’s investments in these money market funds.

In certain cases where there is limited activity or less transparency around inputs to valuation, securities are classified as Level 3. Level 3 liabilities consist of the contingent consideration.

Financial assets and liabilities subject to fair value measurements on a recurring basis and the level of inputs used in such measurements are as follows (in thousands):

	Fair Value Measurements
	March 31, 2015
	Total		Level 1		Level 2		Level 3
Assets:
Certificate of deposit denominated in U.S. Dollars	$	700	$	700	$	—	$	—
Certificate of deposit denominated in Russian Rubles		345		345		—		—
Money market funds		113,853		113,853		—		—
Restricted cash (money market funds)		60		60		—		—
Total financial assets	$	114,958	$	114,958	$	—	$	—
Liabilities:
Contingent consideration	$	860	$	—	$	—	$	860

	Fair Value Measurements
	December 31, 2014
	Total		Level 1		Level 2		Level 3
Assets:
Money market funds	$	147,952	$	147,952	$	—	$	—
Restricted cash (money market funds)		60		60		—		—
Total financial assets	$	148,012	$	148,012	$	—	$	—
Liabilities:
Contingent consideration	$	6,495	$	—	$	—	$	6,495

There were no transfers between Level 1 and Level 3 during the periods presented.

Contingent Consideration

As part of the InteKrin acquisition in February 2014, the Company recognized contingent consideration associated with payments to be made to the former InteKrin stockholders upon the achievement of certain events specified in the purchase agreement.

The InteKrin purchase agreement provides for contingent consideration to be paid upon (i) the first dosing of a human subject in the first Phase 2 Clinical Trial for INT-131 ("Earn-Out Payment") and (ii) per a compound transaction agreement as defined in the purchase agreement (the “Compound Transaction Payment”).

On March 6, 2015, the Company achieved the first dosing of a human subject in a phase 2 clinical trial for INT-131 in multiple sclerosis patients, triggering the obligation to settle the contingent Earn-Out Payment to former InteKrin stockholders. As a result, the Company issued 358,384 shares of its common stock valued at $27.48 per share and cash of $1,000 for the aggregate amount value of $9.8 million to former InteKrin stockholders. Contemporaneously, the Company recognized the additional fair value of the Earn-Out Payment of $4.1 million to other expense, net in the condensed consolidated statement of operations on March 6, 2015 and reclassified the contingent consideration liability balance to equity in the condensed consolidated balance sheet.

This fair value measurement of the Compound Transaction Payment uses a probability-weighted discounted cash flow approach based on significant inputs not observable in the market and thus represents a Level 3 measurement within the fair value hierarchy. The Compound Transaction analysis applied a 25% risk-adjusted discount rate to measure present value and also captured an additional 6% credit spread for counterparty credit risk given the cash payment. The Company’s management estimates of probability of occurrence and timing were used to formulate an expected cash flow. The value of the consideration is tiered based on the value of a license or similar agreement with a third party and the timing of such agreement. The change in the fair value of the Compound Transaction Payment of $0.1 million was recognized in other expense, net within the condensed consolidated statement of operations for the three months ended March 31, 2015.

The following table sets forth a summary of changes in the estimated fair value of the contingent consideration (in thousands):

Balance as of December 31, 2014	$	6,495
Change in fair value of the contingent consideration liability		4,214
Fair value of Earn-Out Payment		(9,849	)
Balance as of March 31, 2015	$	860

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Balance Sheet Components

3 Months Ended

Mar. 31, 2015

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Balance Sheet Components

4.	Balance Sheet Components

Prepaid Assets

Prepaid assets are as follows (in thousands):

	March 31,		December 31,
	2015		2014
Prepaid clinical, material, manufacturing and other - related parties	$	4,363	$	5,990
Prepaid clinical, material and manufacturing		13,294		12,149
Prepaid other		2,457		2,346
Prepaid assets	$	20,114	$	20,485

Property and Equipment, Net

Property and equipment, net are as follows (in thousands):

	March 31,			December 31,
	2015			2014
Machinery and equipment	$	4,678		$	4,317
Computer equipment and software		414			286
Furniture and fixtures		307			288
Leasehold improvements		1,211			399
Construction in progress		—			474
Total property and equipment		6,610			5,764
Accumulated depreciation and amortization		(1,506	)		(1,292	)
Property and equipment, net	$	5,104		$	4,472

Depreciation expense was $232,000 and $116,000 for the three months ended March 31, 2015 and 2014, respectively.

Accrued and Other Liabilities

Accrued and other liabilities are as follows (in thousands):

	March 31,		December 31,
	2015		2014
Accrued clinical, manufacturing and other - related parties	$	5,911	$	2,997
Accrued compensation		2,155		3,435
Accrued professional and consulting fees		383		252
Accrued other		4,822		4,547
Accrued liabilities	$	13,271	$	11,231

Collaboration and License Agreements

3 Months Ended

Mar. 31, 2015

Collaboration And License Agreements [Abstract]

Collaborative and License Agreements

5.	Collaboration and License Agreements

The Company recognized revenue related to the collaboration and license agreements for the periods presented as follows (in thousands):

	Three Months Ended
	March 31,
	2015		2014
Baxter	$	5,313	$	3,090
Daiichi Sankyo - related party (1)		497		506
Total collaboration and license revenue	$	5,810	$	3,596

(1)	Represents revenue from Daiichi Sankyo Company, a holder of more than 10% of our common stock until the closing of our IPO on November 12, 2014.

Daiichi Sankyo

In January 2012, the Company entered into a license agreement with Daiichi Sankyo, under which the Company granted certain licenses to Daiichi Sankyo to develop and commercialize biosimilar forms of etanercept and rituximab in Japan, Taiwan, and South Korea with an option to develop in China. Upon execution of the agreement, Daiichi Sankyo paid a non-refundable, upfront license fee of $10.0 million which was recorded as deferred revenue and is being amortized over the remaining estimated performance period under the agreement using the straight line method.

In June 2013, the Company and Daiichi Sankyo entered into a Memorandum of Understanding No. 1 (the “MOU 1”) in which both parties agreed to cooperate and share costs to conduct a global Phase 1 study of a biosimilar form of etanercept. This program was not originally contemplated in the license agreement. The amounts received from Daiichi Sankyo under the MOU 1 are recognized as a reduction in research and development expense as the Company engages in a research and development project jointly with Daiichi Sankyo, with both parties incurring costs while actively participating in development activities and both parties sharing costs and potential benefits of the arrangement.

In January 2014, the Company and Daiichi Sankyo entered into the Memorandum of Understanding No. 2 (the “MOU 2”) in which both parties agreed to cooperate to conduct a global Phase 3 clinical trial in rheumatoid arthritis and that Daiichi Sankyo will be responsible for a minimum of 20% of the cost of the clinical trial. Also, both parties entered into a clinical supply agreement contemporaneously with the MOU 2 in which the Company will supply finished study drug and study comparator drug for Daiichi Sankyo’s use in the Japanese portion of the product’s clinical trial. Daiichi Sankyo reimburses these research and development costs in quarterly advance payments, for which the Company recorded $1.2 million as advance payments under license agreement in the condensed consolidated balance sheet at March 31, 2015. The Company will recognize the advance payment as a reduction in the research and development expense when the research and development activity has been performed.

As of March 31, 2015, $3.9 million of revenue was deferred under all arrangements with Daiichi Sankyo, of which $1.6 million was included in current liabilities and $2.3 million was included in non-current liabilities in the condensed consolidated balance sheet. As of December 31, 2014, $4.3 million of revenue was deferred under all arrangements with Daiichi Sankyo, of which $1.6 million was included in current liabilities and $2.7 million was included in non-current liabilities in the condensed consolidated balance sheet.

The Company recognized in its condensed consolidated statements of operations a reduction of research and development expense related to the costs reimbursed by Daiichi Sankyo of $1.4 million and $1.2 million for the three months ended March 31, 2015 and 2014, respectively.

Baxter

In August 2013, the Company entered into a license agreement with Baxter to develop and commercialize an etanercept biosimilar molecule, CHS-0214, worldwide, excluding the United States, Japan, Taiwan, South Korea, China and most of the Caribbean and South American nations. Under the terms of the license agreement, the Company will conduct the development and the regulatory activities, and Baxter will conduct the commercialization of the etanercept biosimilar product.

In consideration of the exclusive, royalty-bearing license to develop, commercialize and use the etanercept biosimilar product, Baxter made an upfront payment of $30.0 million to the Company. Additionally, the Company is eligible to receive up to $216.0 million in contingent payments composed of $96.0 million in clinical development payments and up to $120.0 million in regulatory milestone payments. In February 2014, the agreement was amended to increase the payment by $5.3 million. Therefore, the Company is eligible to receive up to $221.3 million in contingent payments comprised of $101.3 million in clinical development payments and up to $120.0 million in regulatory milestone payments.

The upfront payment of $30.0 million and clinical development payments of up to $101.3 million include $71.3 million of contingent payments that are intended to cover development related expenses incurred by the Company, but which are potentially reimbursable, in part, to Baxter under certain limited circumstances. Additionally, the amounts that are contingent payments also contain a claw-back feature providing that, in the event that the Company commercializes the etanercept biosimilar molecule in the U.S., fifty percent (50%) of those contingent payments are refundable to Baxter. Therefore, the Company recorded the portion of the non-substantive contingent payment that contains the claw-back feature as the contingent liability to collaborator on the condensed consolidated balance sheets, and the portion of the non-substantive milestone payments that does not contain the claw-back feature was recorded as deferred revenue and recognized as collaboration and license revenue on a straight-line basis over the remaining estimated performance period. The $120.0 million of regulatory milestone payments which was considered substantive will be recognized as revenue when each specific event is achieved.

As of March 31, 2015, $53.1 million of revenue was deferred under the arrangements with Baxter, of which $21.2 million was included in current liabilities and $31.9 million was included in non-current liabilities in the condensed consolidated balance sheet. As of March 31, 2015, $27.7 million was recorded as contingent liability to collaborator due to the potential refund of such amount to Baxter in the future.

As of December 31, 2014, $58.4 million of revenue was deferred under the arrangements with Baxter, of which $21.2 million was included in current liabilities and $37.2 million was included in non-current liabilities in the condensed consolidated balance sheet. As of December 31, 2014, $27.7 million was recorded as contingent liability to collaborator in the condensed consolidated balance sheet due to the potential refund to Baxter.

In April 2015, The Company and Baxter executed an amendment to the license agreement entered into in August 2013 (see Note 10 for further details regarding this amendment).

Commitments and Contingencies

3 Months Ended

Mar. 31, 2015

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

6.	Commitments and Contingencies

Purchase Commitments

The Company enters into contracts in the normal course of business with contract research organizations for preclinical studies and clinical trials and contract manufacturing organizations (“CMOs”) for the manufacture of clinical trial materials. As of March 31, 2015, the Company had a commitment of $8.0 million with CMOs for the manufacture of clinical trial material due within a year. The Company has an agreement with Medpace, Inc. (“Medpace”), a CRO, which provides for a minimum fee commitment of $35.0 million, in aggregate, for clinical trial services; however, the agreement is cancelable without cause by either party upon 30 days prior notification. As of March 31, 2015, $24.1 million of the services related to this agreement had been performed.

Guarantees and Indemnifications

In the normal course of business, the Company enters into contracts and agreements that contain a variety of representations and warranties and provide for general indemnifications. The Company’s exposure under these agreements is unknown because it involves claims that may be made against the Company in the future, but have not yet been made. To date, the Company has not paid any claims or been required to defend any action related to its indemnification obligations. However, the Company may record charges in the future as a result of these indemnification obligations. The Company would assess the likelihood of any adverse judgments or related claims, as well as ranges of probable losses. In the cases where the Company believes that a reasonably possible or probable loss exists, it will disclose the facts and circumstances of the claims, including an estimate range, if possible. As of March 31, 2015, the Company does not have any material indemnification claims that were probable or reasonably possible and consequently has not recorded related liabilities.

Common Stock and Stock-Based Compensation

3 Months Ended

Mar. 31, 2015

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Common Stock and Stock-Based Compensation

7.	Common Stock and Stock-Based Compensation

Common Stock

Follow-on Offering

In March 2015, the Company’s registration statement on Form S-1 (File No. 333-202936) relating to its Follow-on Offering of its common stock was declared effective by the SEC. The price of the shares sold in the Follow-on Offering was $29.00 per share. The Follow-on Offering closed on April 7, 2015, pursuant to which the Company sold 4,137,931 shares of common stock. The Company granted the underwriters the option to purchase up to an additional 620,689 shares of common stock at the public offering price less underwriting discounts and commissions, which expired on April 30, 2015. The Company received total gross proceeds from the offering of $120.0 million. After deducting underwriting discounts and commissions of $7.2 million and offering expenses of approximately $0.6 million, the net proceeds were approximately $112.2 million.

Stock Based Compensation

During 2010 and 2011, the Company issued shares of restricted common stock to its founders under the Founders’ Shares agreements. These Founders’ Shares agreements require continued rendering of service to the Company in order for the shares to vest. As such, shares of restricted common stock subject to future vesting are not deemed outstanding for accounting purposes until the shares vest. The Company recognizes stock-based compensation over the vesting term of four years based on the fair value of the common stock on the dates of issuance. As of March 31, 2015, there were 5,311 shares subject to repurchase.

The stock-based compensation expense recorded related to shares of common stock granted pursuant to the Founders’ Shares agreements was as follows (in thousands):

	Three Months Ended
	March 31,
	2015		2014
Research and development	$	6	$	103
General and administrative		—		1
	$	6	$	104

The stock-based compensation expense recorded related to options granted to employees and nonemployees was as follows (in thousands):

	Three Months Ended
	March 31,
	2015		2014
Research and development	$	1,176	$	222
General and administrative		1,000		269
	$	2,176	$	491

In March 2014, the Company issued warrants to purchase 553,274 shares of common stock with the exercise price of $1.667 per share to two employees and one consultant for past services. Due to the immediate vesting and exercisability of the warrants upon issuance, the Company immediately recognized $1.3 million and $1.4 million of stock-based compensation in research and development expense and general and administrative expense, respectively, in the condensed consolidated statement of operations. As a result of the Company’s IPO, the warrants were net exercised immediately prior to the Company’s close of the IPO on November 12, 2014.

Net Loss Per Share Attributable to Coherus

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Net Loss Per Share Attributable to Coherus

8.	Net Loss Per Share Attributable to Coherus

The following table sets forth the computation of the basic and diluted net loss per share attributable to Coherus (in thousands, except share and per share data):

	Three Months Ended
	March 31,
	2015			2014
Numerator:
Net loss attributable to Coherus	$	(40,725	)	$	(25,170	)
Denominator:
Weighted-average common shares outstanding		33,390,930			4,830,840
Less: weighted-average unvested common shares subject to repurchase (1)		(13,632	)		(653,610	)
Weighted-average number of shares used in computing net loss per share attributable to Coherus, basic and diluted		33,377,298			4,177,230
Net loss per share attributable to Coherus, basic and diluted	$	(1.22	)	$	(6.03	)

(1)	Shares were excluded as such shares represent restricted common stock granted pursuant to the Founders’ Shares agreements which vest contingently upon the holders’ continued services to the Company.

The following outstanding dilutive potential shares have been excluded from the calculation of diluted net loss per share attributable to Coherus due to their anti-dilutive effect:

	March 31,
	2015		2014
Stock options outstanding		6,154,625		5,058,841
Convertible preferred stock		—		10,122,570
Convertible preferred stock warrants		—		4,638,644
Common stock warrants		—		553,274
Total		6,154,625		20,373,329

In addition, 358,384 shares of common stock contingently issuable upon the successful achievement of an objective associated with contingent consideration payable to former InteKrin stockholders have been excluded from the calculation of diluted net loss per share attributable to Coherus for the three months ended March 31, 2014. On March 6, 2015, the contingent issuable shares were settled (see Note 3).

Related Party Transactions

3 Months Ended

Mar. 31, 2015

Related Party Transactions

9.	Related Party Transactions

Daiichi Sankyo

The Company entered into a license agreement with Daiichi Sankyo, under which the Company issued 2,867,426 shares of Series B convertible preferred stock to Daiichi Sankyo. As such, Daiichi Sankyo was deemed to be a related party by ownership of more than 10% of the Company’s equity. Accordingly, the Company recognized related party transactions of $0.5 million as collaboration and license revenue–related party in the Company’s statements of operations for the three months ended March 31, 2014. In addition, the Company recognized $1.2 million as a reduction of research and development expense related to the costs reimbursed by Daiichi Sankyo in the Company’s condensed consolidated statements of operations for the three month period ended March 31, 2014. Upon the consummation of the Company’s initial public offering, Daiichi Sankyo’s ownership percentage decreased to less than 10% of the Company’s equity; therefore as of November 2014, Daiichi Sankyo was no longer considered a related party. As a result, the condensed consolidated financial statements as of March 31, 2015 and for the three months ended March 31, 2015, do not reflect transactions with Daiichi Sankyo as related party transactions.

Transactions Associated with Cook

In January and December 2012, the Company issued a total of 2,150,569 shares of Series B convertible preferred stock to Cook Pharmica LLC (“Cook”) as consideration for past and future services. As such, Cook was deemed to be a related party by ownership of more than 10% of the Company’s equity. The Company recognized services rendered by Cook within research and development in the condensed consolidated statements of operations of $2.9 million during the three months ended March 31, 2014. During the second quarter of 2014, Cook divested a majority of its shares of the Company’s Series B convertible preferred stock; therefore, as of December 31, 2014, Cook was no longer considered a related party. As a result, the condensed consolidated financial statements as of March 31, 2015 and for the three months ended March 31, 2015, do not reflect transactions with Cook as related party transactions.

Transactions Associated with Medpace Agreement

One member of the Company’s board of directors is also the chief executive officer of Medpace. As such, Medpace was deemed to be a related party. As March 31, 2015, the Company had $4.2 million in prepaid assets (prepaid clinical, material, manufacturing and other–related parties), $3.6 million in accounts payable–related parties, and $5.8 million in accrued and other liabilities (accrued clinical, manufacturing and other–related parties), all reflected on the Company’s condensed consolidated balance sheet associated with Medpace. As of December 31, 2014, the Company had $6.0 million in prepaid assets (prepaid clinical, material, manufacturing and other–related parties), $1.9 million in accounts payable–related parties, and $3.0 million in accrued and other liabilities (accrued clinical, manufacturing and other–related parties), all reflected on the Company’s condensed consolidated balance sheet associated with Medpace. The Company recognized $11.5 million and $2.6 million during the three months ended March 31, 2015 and 2014, respectively, for services rendered by Medpace within research and development expense in the condensed consolidated statements of operations. The Company also has an agreement with Medpace which provides for a minimum fee commitment of $35.0 million for clinical trial services, which is further discussed in Note 6. As of March 31, 2015, $24.1 million of the services related to the fee commitment under this agreement has been performed.

Recruiting Services

One member of the Board of Directors was the chief executive officer of a company that provided recruiting services to the Company. As of March 31, 2015, the Company had $172,000 in prepaid assets (prepaid clinical, material, manufacturing and other–related parties), $172,000 in accounts payable-related parties, and $66,000 in accrued and other liabilities (accrued clinical and manufacturing–related parties) reflected on the Company’s condensed consolidated balance sheet. As of December 31, 2014, the Company had $90,000 in accounts payable-related parties reflected on the Company’s condensed consolidated balance sheet. The Company recorded in general and administrative expense in its condensed consolidated statements of operations $66,000 and $0 for the three months ended March 31, 2015 and 2014, respectively, for services rendered by the recruiting company.

Convertible Notes — Related Parties

In the third quarter of 2013, the Company entered into Bridge Loans with certain investors, including existing stockholders, some members of the Board of Directors and their affiliated companies and some members of management, for a total aggregate amount of $10.0 million and issued the 2013 Warrants to purchase shares of the Company’s preferred stock at an exercise price of $0.0167 per share. As such, $7.1 million of the total aggregate amount of the Bridge Loans were from related parties. In May 2014, the Company completed a preferred stock financing and contemporaneously the Bridge Loans and the related accrued interest were automatically converted into Series C preferred stock. For the three months ended March 31, 2014, the Company recognized $1.9 million of interest expense related to the debt and the amortization of the debt discount within interest expense in the Company’s condensed consolidated statements of operations.

InteKrin

In February 2014, the Company completed the acquisition of InteKrin for total consideration of $5.0 million. Mr. Dennis M. Lanfear, the chief executive officer of the Company, was the chairman of the board and acting president of InteKrin at the time of the acquisition. As such, the InteKrin acquisition was a related party transaction. Mr. Lanfear also owns 10% of the outstanding securities of InteKrin Russia.

Other Assets – Related Party

In December 2014, the Company entered into an agreement with an officer of the Company, in which the officer irrevocably transferred his rights to a certain number of shares with an aggregate value of $1.7 million reflected in the Company’s condensed consolidated balance sheet at March 31, 2015 as other assets-related party. This transaction is expected to settle on or about, July 10, 2015.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

Subsequent Events

3 Months Ended

Mar. 31, 2015

Subsequent Events [Abstract]

Subsequent Events

10.	Subsequent Events

Baxter License Agreement

In April 2015, the Company and Baxter executed an amendment (the “Amendment”) to the license agreement entered into in August 2013. Under the terms of the Amendment, the revised milestone structure totaling $130.0 million replaced certain existing milestones and Baxter funding obligations under the original agreement. If the Company achieves all of the new milestones pursuant to the Amendment, the total payments to the Company prior to a European market approval may exceed the aggregate of funding and milestone payments under the existing agreement by approximately $12.2 million. The Amendment also provides that Baxter will purchase $10.0 million of the Company’s common stock within six months of execution of the Amendment at a price per share equal to the closing trading price on the date of such purchase. Pursuant to the Amendment, the Company received $35.0 million of the milestone payment in May 2015 due to the completion of the enrollment for CHS-0214 Phase 3 clinical studies in rheumatoid arthritis and psoriasis.

Basis of Presentation and Summary of Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2015

Accounting Policies [Abstract]

Unaudited Condensed Consolidated Financial Statements

Use of Estimates

Foreign Currency

Segment Reporting

The following table summarizes revenue by geographic region (in thousands):

	Three Months Ended
	March 31,
	2015		2014
United States	$	5,313	$	3,090
Rest of World		497		506
Total Revenue	$	5,810	$	3,596

Deferred Offering Costs

Derivative Liability

Customer Concentration

Customers whose collaboration and license revenue accounted for 10% or more of total revenues were as follows:

	Three Months Ended
	March 31,
	2015			2014
Daiichi Sankyo - related party (1)	*				14	%
Baxter		91	%		86	%

* less than 10%

(1)	Represents revenue from Daiichi Sankyo Company, a holder of more than 10% of our common stock until the closing of our IPO on November 12, 2014.

Revenue Recognition

Comprehensive Loss

Net Loss per Share Attributable to Coherus

Recent Accounting Pronouncements

Basis of Presentation and Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2015

Accounting Policies [Abstract]

Summary of Revenue by Geographical Region

The following table summarizes revenue by geographic region (in thousands):

	Three Months Ended
	March 31,
	2015		2014
United States	$	5,313	$	3,090
Rest of World		497		506
Total Revenue	$	5,810	$	3,596

Summary of Customers Revenue Accounted for 10% or More of Total Revenue

Customer Concentration

Customers whose collaboration and license revenue accounted for 10% or more of total revenues were as follows:

	Three Months Ended
	March 31,
	2015			2014
Daiichi Sankyo - related party (1)	*				14	%
Baxter		91	%		86	%

* less than 10%

(1)	Represents revenue from Daiichi Sankyo Company, a holder of more than 10% of our common stock until the closing of our IPO on November 12, 2014.

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Financial Assets and Liabilities Measured on a Recurring Basis

Financial assets and liabilities subject to fair value measurements on a recurring basis and the level of inputs used in such measurements are as follows (in thousands):

	Fair Value Measurements
	March 31, 2015
	Total		Level 1		Level 2		Level 3
Assets:
Certificate of deposit denominated in U.S. Dollars	$	700	$	700	$	—	$	—
Certificate of deposit denominated in Russian Rubles		345		345		—		—
Money market funds		113,853		113,853		—		—
Restricted cash (money market funds)		60		60		—		—
Total financial assets	$	114,958	$	114,958	$	—	$	—
Liabilities:
Contingent consideration	$	860	$	—	$	—	$	860

	Fair Value Measurements
	December 31, 2014
	Total		Level 1		Level 2		Level 3
Assets:
Money market funds	$	147,952	$	147,952	$	—	$	—
Restricted cash (money market funds)		60		60		—		—
Total financial assets	$	148,012	$	148,012	$	—	$	—
Liabilities:
Contingent consideration	$	6,495	$	—	$	—	$	6,495

Contingent Consideration | Fair Value Measurements Recurring Basis

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Financial Assets and Liabilities Measured on a Recurring Basis

The following table sets forth a summary of changes in the estimated fair value of the contingent consideration (in thousands):

Balance as of December 31, 2014	$	6,495
Change in fair value of the contingent consideration liability		4,214
Fair value of Earn-Out Payment		(9,849	)
Balance as of March 31, 2015	$	860

Balance Sheet Components (Tables)

3 Months Ended

Mar. 31, 2015

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Schedule of Prepaid Assets

Prepaid assets are as follows (in thousands):

	March 31,		December 31,
	2015		2014
Prepaid clinical, material, manufacturing and other - related parties	$	4,363	$	5,990
Prepaid clinical, material and manufacturing		13,294		12,149
Prepaid other		2,457		2,346
Prepaid assets	$	20,114	$	20,485

Schedule of Property and Equipment, Net

Property and equipment, net are as follows (in thousands):

	March 31,			December 31,
	2015			2014
Machinery and equipment	$	4,678		$	4,317
Computer equipment and software		414			286
Furniture and fixtures		307			288
Leasehold improvements		1,211			399
Construction in progress		—			474
Total property and equipment		6,610			5,764
Accumulated depreciation and amortization		(1,506	)		(1,292	)
Property and equipment, net	$	5,104		$	4,472

Schedule of Accrued and Other Liabilities

Accrued and other liabilities are as follows (in thousands):

	March 31,		December 31,
	2015		2014
Accrued clinical, manufacturing and other - related parties	$	5,911	$	2,997
Accrued compensation		2,155		3,435
Accrued professional and consulting fees		383		252
Accrued other		4,822		4,547
Accrued liabilities	$	13,271	$	11,231

Collaboration and License Agreements (Tables)

3 Months Ended

Mar. 31, 2015

Collaboration And License Agreements [Abstract]

Schedule of Revenue Related to Collaboration and License Agreements

The Company recognized revenue related to the collaboration and license agreements for the periods presented as follows (in thousands):

	Three Months Ended
	March 31,
	2015		2014
Baxter	$	5,313	$	3,090
Daiichi Sankyo - related party (1)		497		506
Total collaboration and license revenue	$	5,810	$	3,596

(1)	Represents revenue from Daiichi Sankyo Company, a holder of more than 10% of our common stock until the closing of our IPO on November 12, 2014.

Common Stock and Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2015

Schedule of Stock-Based Compensation Expense Related to Option

The stock-based compensation expense recorded related to options granted to employees and nonemployees was as follows (in thousands):

	Three Months Ended
	March 31,
	2015		2014
Research and development	$	1,176	$	222
General and administrative		1,000		269
	$	2,176	$	491

Restricted Common Stock (Founders Shares)

Schedule of Stock-Based Compensation Expense

The stock-based compensation expense recorded related to shares of common stock granted pursuant to the Founders’ Shares agreements was as follows (in thousands):

	Three Months Ended
	March 31,
	2015		2014
Research and development	$	6	$	103
General and administrative		—		1
	$	6	$	104

Net Loss Per Share Attributable to Coherus (Tables)

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Computation of Basic and Diluted Net Loss Per Share Attributable to Coherus

The following table sets forth the computation of the basic and diluted net loss per share attributable to Coherus (in thousands, except share and per share data):

	Three Months Ended
	March 31,
	2015			2014
Numerator:
Net loss attributable to Coherus	$	(40,725	)	$	(25,170	)
Denominator:
Weighted-average common shares outstanding		33,390,930			4,830,840
Less: weighted-average unvested common shares subject to repurchase (1)		(13,632	)		(653,610	)
Weighted-average number of shares used in computing net loss per share attributable to Coherus, basic and diluted		33,377,298			4,177,230
Net loss per share attributable to Coherus, basic and diluted	$	(1.22	)	$	(6.03	)

(1)	Shares were excluded as such shares represent restricted common stock granted pursuant to the Founders’ Shares agreements which vest contingently upon the holders’ continued services to the Company.

Outstanding Dilutive Potential Shares Excluded from Calculation of Diluted Net Loss Per Share Attributable to Coherus

The following outstanding dilutive potential shares have been excluded from the calculation of diluted net loss per share attributable to Coherus due to their anti-dilutive effect:

	March 31,
	2015		2014
Stock options outstanding		6,154,625		5,058,841
Convertible preferred stock		—		10,122,570
Convertible preferred stock warrants		—		4,638,644
Common stock warrants		—		553,274
Total		6,154,625		20,373,329

Organization and Operations - Additional Information (Details) $ / shares in Units, $ in Thousands			3 Months Ended
	May 11, 2015 USD ($)	Apr. 07, 2015 USD ($) $ / shares shares	Mar. 31, 2015 USD ($) Segments shares	Dec. 31, 2014 USD ($) shares	Mar. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Organization And Operations [Line Items]
Number of operating segments \| Segments			1
Common stock, shares issued \| shares			33,701,017	33,701,017
Accumulated deficit			$ 227,450	$ 186,725
Cash and cash equivalents			115,136	$ 150,392	$ 56,317	$ 39,554
Follow-On Public Offering
Organization And Operations [Line Items]
Offering expense			$ 42
Subsequent Event \| Follow-On Public Offering
Organization And Operations [Line Items]
Share price \| $ / shares		$ 29.00
Common stock, shares issued \| shares		4,137,931
Additional shares available to underwriters in follow-on \| shares		620,689
Net proceeds from issuance of common stock		$ 120,000
Underwriting discounts and commissions		7,200
Offering expense		600
Proceeds from issuance of common stock, net of offering expense		$ 112,200
Subsequent Event \| Baxter License Agreement
Organization And Operations [Line Items]
Milestone payment received	$ 35,000

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details)	3 Months Ended
	Mar. 31, 2015 USD ($) Segments	Mar. 31, 2014 USD ($)	Dec. 31, 2014 USD ($)
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Foreign exchange gain (loss) \| $	$ 91,000	$ (15,000)
Number of reportable segment \| Segments	1
Number of operating segments \| Segments	1
Deferred offering costs \| $	$ 500,000		$ 0
RUSSIA \| InteKrin Therapeutics Inc \| Coherus Intermediate Corp, InteKrin Therapeutics, Inc.
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Controlling interest, ownership percentage by parent	82.50%

Basis of Presentation and Summary of Significant Accounting Policies - Summary of Revenue by Geographical Region (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Revenues From External Customers And Long Lived Assets [Line Items]
Collaboration and license revenue	$ 5,810	$ 3,596
United States
Revenues From External Customers And Long Lived Assets [Line Items]
Collaboration and license revenue	5,313	3,090
Rest of World
Revenues From External Customers And Long Lived Assets [Line Items]
Collaboration and license revenue	$ 497	$ 506

Basis of Presentation and Summary of Significant Accounting Policies - Summary of Customers Revenue Accounted for 10% or More of Total Revenue (Details) - Collaboration and License Revenue - Customer Concentration Risk	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Daiichi Sankyo - Related Party
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Percentage of total revenues by single customer		14.00%
Baxter
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Percentage of total revenues by single customer	91.00%	86.00%

Basis of Presentation and Summary of Significant Accounting Policies - Summary of Customers Revenue Accounted for 10% or More of Total Revenue (Parenthetical) (Details)	Nov. 12, 2014
Daiichi Sankyo - Related Party
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Percentage of equity interest held by related party, minimum	10.00%

Fair Value Measurements - Additional Information (Details) - USD ($)		3 Months Ended
	Mar. 06, 2015	Mar. 31, 2015	Dec. 31, 2014
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Remeasurement of contingent consideration		$ 4,214,000
Other Operating Income (Expense)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Remeasurement of contingent consideration		100,000
InteKrin Therapeutics Inc
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Business acquisition, number of shares issued	358,384
Business acquisition, shares price	$ 27.48
Business acquisition, cash payment	$ 1,000,000
Fair value of common stock issued	9,800,000
Additional fair value of earn-out payment to other expense	$ 4,100,000
Fair Value Measurements Recurring Basis
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Transfers of asset from Level 1 to Level 2		0	$ 0
Transfers of liabilities from Level 1 to Level 2		$ 0	$ 0
Fair Value Measurements Recurring Basis \| Level 3 \| Contingent Consideration
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Discount rate		25.00%
Counterparty credit risk given the cash payment		6.00%
Fair Value Measurements Recurring Basis \| Money Market Funds \| Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Unrealized gains and losses on investments		$ 0

Fair Value Measurements - Financial Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Dec. 31, 2014
Level 3 \| Contingent Consideration
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial liabilities	$ 860	$ 6,495
Fair Value Measurements Recurring Basis
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	114,958	148,012
Fair Value Measurements Recurring Basis \| Contingent Consideration
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial liabilities	860	6,495
Fair Value Measurements Recurring Basis \| Money Market Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	113,853	147,952
Fair Value Measurements Recurring Basis \| Restricted Cash (Money Market Funds)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	60	60
Fair Value Measurements Recurring Basis \| Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	114,958	148,012
Fair Value Measurements Recurring Basis \| Level 1 \| Money Market Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	113,853	147,952
Fair Value Measurements Recurring Basis \| Level 1 \| Restricted Cash (Money Market Funds)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	60	60
Fair Value Measurements Recurring Basis \| Level 3 \| Contingent Consideration
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial liabilities	860	$ 6,495
Fair Value Measurements Recurring Basis \| United States of America, Dollars \| Certificates of Deposit
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	700
Fair Value Measurements Recurring Basis \| United States of America, Dollars \| Level 1 \| Certificates of Deposit
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	700
Fair Value Measurements Recurring Basis \| Russia, Rubles \| Certificates of Deposit
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	345
Fair Value Measurements Recurring Basis \| Russia, Rubles \| Level 1 \| Certificates of Deposit
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	$ 345

Fair Value Measurements - Summary of Changes in the Estimated Fair Value of Contingent Consideration (Details) - Contingent Consideration - Level 3 $ in Thousands	3 Months Ended
	Mar. 31, 2015 USD ($)
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 6,495
Change in fair value of the contingent consideration liability	4,214
Fair value of Earn-Out Payment	(9,849)
Ending balance	$ 860

Balance Sheet Components - Schedule of Prepaid Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Dec. 31, 2014
Schedule Of Prepaid Assets [Line Items]
Prepaid assets	$ 20,114	$ 20,485
Prepaid Clinical, Material, Manufacturing and Other - Related Parties
Schedule Of Prepaid Assets [Line Items]
Prepaid assets	4,363	5,990
Prepaid Clinical, Material and Manufacturing
Schedule Of Prepaid Assets [Line Items]
Prepaid assets	13,294	12,149
Prepaid Other
Schedule Of Prepaid Assets [Line Items]
Prepaid assets	$ 2,457	$ 2,346

Balance Sheet Components - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Dec. 31, 2014
Property Plant And Equipment [Line Items]
Total property and equipment	$ 6,610	$ 5,764
Accumulated depreciation and amortization	(1,506)	(1,292)
Property and equipment, net	5,104	4,472
Machinery and Equipment
Property Plant And Equipment [Line Items]
Total property and equipment	4,678	4,317
Computer Equipment and Software
Property Plant And Equipment [Line Items]
Total property and equipment	414	286
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Total property and equipment	307	288
Leasehold Improvements
Property Plant And Equipment [Line Items]
Total property and equipment	$ 1,211	399
Construction in Progress
Property Plant And Equipment [Line Items]
Total property and equipment		$ 474

Balance Sheet Components - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Property Plant And Equipment [Abstract]
Depreciation and amortization	$ 232	$ 116

Balance Sheet Components - Schedule of Accrued and Other Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Dec. 31, 2014
Payables And Accruals [Abstract]
Accrued clinical, manufacturing and other - related parties	$ 5,911	$ 2,997
Accrued compensation	2,155	3,435
Accrued professional and consulting fees	383	252
Accrued other	4,822	4,547
Accrued liabilities	$ 13,271	$ 11,231

Collaboration and License Agreements - Schedule of Revenue Related to Collaboration and License Agreements (Details) - USD ($)
$ in Thousands

3 Months Ended

Mar. 31, 2015

Mar. 31, 2014

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

$ 5,810

$ 3,596

Baxter

5,313

3,090

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

$ 497

$ 506

^[1]

[1]	Represents revenue from Daiichi Sankyo Company, a holder of more than 10% of our common stock until the closing of our initial public offering (“IPO”) on November 12, 2014.

Collaboration and License Agreements - Schedule of Revenue Related to Collaboration and License Agreements (Parenthetical) (Details)	Nov. 12, 2014
Daiichi Sankyo - Related Party
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Percentage of equity interest held by related party, minimum	10.00%

Collaboration and License Agreements - Additional Information (Details) - USD ($)
$ in Thousands

1 Months Ended

3 Months Ended

Feb. 28, 2014

Jan. 31, 2014

Aug. 31, 2013

Mar. 31, 2015

Mar. 31, 2014

Dec. 31, 2014

Jan. 31, 2012

Deferred revenue, current

$ 22,800

Deferred revenue, non-current

34,403

39,899

Contingent liability to collaborator

5,810

$ 3,596

27,650

Baxter License Agreement

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Deferred revenue

53,100

58,400

Deferred revenue, current

21,200

Deferred revenue, non-current

31,900

37,200

Increase in license agreement non-substantive contingent milestone receivable

$ 30,000

5,810

3,090

$ 5,300

Contingent payment development related expenses

71,300

Contingent payments refundable, percentage

50.00%

Contingent liability to collaborator

27,700

Baxter License Agreement | Maximum

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Contingent payment receivable

221,300

$ 216,000

Baxter License Agreement | Maximum | Clinical Development Payments

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Contingent payment receivable

101,300

96,000

Baxter License Agreement | Maximum | Regulatory Milestone Payments

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Contingent payment receivable

$ 120,000

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Deferred revenue

3,900

4,300

$ 10,000

Minimum percentage of clinical trial cost

20.00%

Advance payments

1,200

Deferred revenue, current

1,600

Deferred revenue, non-current

2,300

$ 2,700

Research and development

1,400

1,200

$ 497

$ 506

^[1]

[1]	Represents revenue from Daiichi Sankyo Company, a holder of more than 10% of our common stock until the closing of our initial public offering (“IPO”) on November 12, 2014.

Commitments and Contingencies - Additional Information (Details)	3 Months Ended
	Mar. 31, 2015 USD ($)
Purchase Commitment Excluding Longterm Commitment [Line Items]
Payment of claims	$ 0
CMOs
Purchase Commitment Excluding Longterm Commitment [Line Items]
Contractual commitment	8,000,000
Medpace Inc
Purchase Commitment Excluding Longterm Commitment [Line Items]
Minimum fee commitment	35,000,000
Purchase commitment amount of services performed	$ 24,100,000
Period of contract termination	30 days

Common Stock and Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended	3 Months Ended
	Apr. 07, 2015	Mar. 06, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Common stock, shares issued				33,701,017		33,701,017
Stock-based compensation expense				$ 2,182	$ 3,291
Common Stock
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock issued for warrant exercised			553,274		553,274
Common stock, exercise price			$ 1.667		$ 1.667
Warrant \| Research and Development Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense			$ 1,300
Warrant \| General and Administrative Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense			$ 1,400
Restricted Common Stock (Founders Shares)
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Vesting period				4 years
Common stock shares subject to repurchase				5,311
Follow-On Public Offering \| Subsequent Event
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share price	$ 29.00
Common stock, shares issued	4,137,931
Additional shares available to underwriters in follow-on	620,689
Net proceeds from issuance of common stock	$ 120,000
Underwriting discounts and commissions	7,200
Offering Expenses	600
Proceeds from issuance of common stock, net of offering expense	$ 112,200
InteKrin Therapeutics Inc
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Business acquisition, number of shares issued		358,384
Business acquisition, shares price		$ 27.48
Business acquisition, cash payment		$ 1,000
Fair value of common stock issued		$ 9,800

Common Stock and Stock-Based Compensation - Schedule of Stock-Based Compensation Expense Related to Founder's Shares (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 2,176	$ 491
Research and Development Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	1,176	222
General and Administrative Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	1,000	269
Restricted Common Stock (Founders Shares)
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	6	104
Restricted Common Stock (Founders Shares) \| Research and Development Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 6	103
Restricted Common Stock (Founders Shares) \| General and Administrative Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense		$ 1

Common Stock and Stock-Based Compensation - Schedule of Stock-Based Compensation Expense Related to Options (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 2,176	$ 491
Research and Development Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	1,176	222
General and Administrative Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 1,000	$ 269

Net Loss Per Share Attributable to Coherus - Computation of Basic and Diluted Net Loss Per Share Attributable to Coherus (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Numerator:
Net loss attributable to Coherus	$ (40,725)	$ (25,170)
Denominator:
Weighted-average common shares outstanding	33,390,930	4,830,840
Less: weighted-average unvested common shares subject to repurchase (1)	(13,632)	(653,610)
Weighted-average number of shares used in computing net loss per share attributable to Coherus, basic and diluted	33,377,298	4,177,230
Net loss per share attributable to Coherus, basic and diluted	$ (1.22)	$ (6.03)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Net Loss Per Share Attributable to Coherus - Outstanding Dilutive Potential Shares Excluded from Calculation of Diluted Net Loss Per Share Attributable to Coherus (Details) - shares	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from the calculation of diluted net loss per share	6,154,625	20,373,329
Stock Options Outstanding
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from the calculation of diluted net loss per share	6,154,625	5,058,841
Convertible Preferred Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from the calculation of diluted net loss per share		10,122,570
Convertible Preferred Stock Warrants
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from the calculation of diluted net loss per share		4,638,644
Common Stock Warrants
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from the calculation of diluted net loss per share		553,274

Net Loss Per Share Attributable to Coherus - Additional Information (Details) - shares	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from the calculation of diluted net loss per share	6,154,625	20,373,329
Restricted Common Stock (Founders Shares)
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from the calculation of diluted net loss per share		358,384

Related Party Transactions - Additional Information (Details) - USD ($)

1 Months Ended

3 Months Ended

Feb. 28, 2014

Mar. 31, 2015

Mar. 31, 2014

Dec. 31, 2014

Sep. 30, 2013

Dec. 31, 2012

Jan. 31, 2012

Research and development expense

$ 5,810,000

$ 3,596,000

36,467,000

13,936,000

Accounts payable - related parties

20,114,000

$ 20,485,000

3,723,000

2,020,000

General and administrative expenses from transactions with related party

66,000

Interest expense from transactions with related party

1,889,000

Other assets - related party

1,691,000

InteKrin Acquisition

Business Combination Consideration Transferred1

$ 5,000,000

Securities held by Mr.Lanfear in InteKrin Russia

10.00%

Bridge Loan

Total aggregate amount from related parties

$ 7,100,000

Interest expense from transactions with related party

1,900,000

Bridge Loan | Related Parties

Aggregate principle amount

$ 10,000,000

Warrant exercise price

$ 0.0167

Prepaid Clinical, Material, Manufacturing and Other - Related Parties

4,363,000

5,990,000

Reduction of research and development expense

497,000

506,000

^[1]

$ 1,400,000

1,200,000

Daiichi Sankyo - Related Party | Series B Convertible Preferred Stock

Convertible preferred stock, shares issued

2,867,426

Daiichi Sankyo - Related Party | Minimum

10.00%

Daiichi Sankyo - Related Party | Maximum

10.00%

Cook

Research and development expense

2,900,000

Cook | Series B

Convertible preferred stock, shares issued

2,150,569

Cook | Minimum | Series B

10.00%

Medpace Inc

Research and development expense

$ 11,500,000

2,600,000

Accounts payable - related parties

3,600,000

1,900,000

Minimum fee commitment

35,000,000

Purchase commitment amount of services performed

24,100,000

Medpace Inc | Prepaid Clinical, Material, Manufacturing and Other - Related Parties

Medpace Inc | Accrued Clinical, Manufacturing and Other - Related Parties

4,200,000

6,000,000

Accrued and other liabilities

5,800,000

3,000,000

Recruiting Services

Accounts payable - related parties

172,000

$ 90,000

General and administrative expenses from transactions with related party

66,000

$ 0

Recruiting Services | Prepaid Clinical, Material, Manufacturing and Other - Related Parties