View Filing Data

Accrued liabilities (includes related parties of $1,832 and $3,542 as of March 31, 2017 and December 31, 2016, respectively)

2,109

877

24,667

28,022

Advance payments under license agreement

1,070

Deferred revenue

669

892

Contingent consideration

5,940

5,550

Other liabilities

281

259

Total current liabilities

47,296

56,376

Deferred revenue, non-current

725

669

Convertible notes

75,437

75,192

Convertible notes - related parties

25,146

25,064

Other liabilities, non-current

1,932

1,830

Total liabilities

150,536

159,131

Commitments and contingencies (Note 7)

Stockholders’ equity:

Preferred stock

Common stock

Additional paid-in capital

691,078

558,474

Accumulated other comprehensive loss

(807)

(630)

Accumulated deficit

(612,100)

(537,322)

Total Coherus stockholders' equity

78,176

20,527

Non-controlling interest

(1,217)

(1,173)

Total stockholders' equity

76,959

19,354

Total liabilities and stockholders’ equity

$ 227,495

$ 178,485

[1]	The consolidated balance sheet as of December 31, 2016 has been derived from the audited consolidated balance sheet included in the Company’s 2016 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 14, 2017.

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands

Mar. 31, 2017

Dec. 31, 2016

Other assets, related parties

$ 30,484

$ 31,634

^[1]

1,984

2,184

Accrued liabilities, related parties

1,832

3,542

Clinical Material Manufacturing and Other Related Parties

Adjustments to reconcile net loss to net cash used in operating activities:

$ 3,450

$ 3,714

[1]	The consolidated balance sheet as of December 31, 2016 has been derived from the audited consolidated balance sheet included in the Company’s 2016 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 14, 2017.

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenue:
Collaboration and license revenue	$ 161	$ 12,359
Operating expenses:
Research and development (includes related party of $3,791 and $13,262 for the three months ended March 31, 2017 and 2016, respectively)	53,775	65,313
General and administrative (includes related party of $65 and $0 for the three months ended March 31, 2017 and 2016, respectively)	18,803	11,398
Total operating expenses	72,578	76,711
Loss from operations	(72,417)	(64,352)
Interest expense (includes related party of $593 and $209 for the three months ended March 31, 2017 and 2016)	(2,376)	(837)
Other expense, net	(29)	(349)
Net loss	(74,822)	(65,538)
Net loss attributable to non-controlling interest	44	150
Net loss attributable to Coherus	$ (74,778)	$ (65,388)
Net loss per share attributable to Coherus, basic and diluted	$ (1.54)	$ (1.67)
Weighted-average number of shares used in computing net loss per share attributable to Coherus, basic and diluted	48,711,958	39,095,975

Condensed Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
General and administrative expenses from transactions with related party	$ 65	$ 0
Interest expense from transactions with related party	593	209
Research and Development Expense
Research and development from transactions with related party	$ 3,791	$ 13,262

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (74,822)	$ (65,538)
Other comprehensive loss:
Unrealized loss on available-for-sale securities, net of tax	(9)
Foreign currency translation adjustments, net of tax	(168)	(48)
Comprehensive loss	(74,999)	(65,586)
Comprehensive loss attributable to non-controlling interest	44	150
Comprehensive loss attributable to Coherus	$ (74,955)	$ (65,436)

Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands

3 Months Ended

Mar. 31, 2017

Mar. 31, 2016

Operating activities

Net loss

$ (74,822)

$ (65,538)

Depreciation and amortization

865

717

Remeasurement of fair-value contingent consideration

390

190

Amortization of premium on marketable securities

(19)

Non-cash interest expense from amortization of debt discount

326

107

Provision for other receivables

(1,300)

Stock-based compensation expense

7,810

5,318

Changes in operating assets and liabilities:

Receivables from collaboration and license agreement

1,833

365

Other assets, non-current

1,153

8,776

Other assets

118

(668)

Accounts payable

(7,265)

(6,797)

Accrued and other liabilities

1,232

(54)

(4,831)

(4,735)

Deferred revenue

(168)

(12,365)

Advance payments under license agreements

(360)

Other liabilities, non-current

101

(58)

Net cash used in operating activities

(73,277)

(76,316)

Investing activities

Purchases of property and equipment

(1,691)

(2,148)

Purchase of investments in marketable securities

(49,887)

Net cash used in investing activities

(51,578)

(2,148)

Financing activities

Proceeds from issuance of convertible notes

75,000

Proceeds from issuance of convertible notes - related parties

25,000

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

124,866

Payments of convertible notes issuance costs

(455)

Proceeds from issuance of common stock upon exercise of stock options

265

298

Net cash provided by financing activities

124,997

99,843

Effect of exchange rate changes in cash and cash equivalents

(165)

(47)

Net (decrease) increase in cash and cash equivalents

(23)

21,332

Cash and cash equivalents at beginning of period

124,947

^[1]

158,226

Cash and cash equivalents at end of period

124,924

$ 179,558

Common Stock Offering

Financing activities

Payments of offering costs

$ (134)

[1]	The consolidated balance sheet as of December 31, 2016 has been derived from the audited consolidated balance sheet included in the Company’s 2016 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 14, 2017.

Organization and Operations

3 Months Ended

Mar. 31, 2017

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Organization and Operations

1.	Organization and Operations

Description of the Business

Coherus BioSciences, Inc. (the “Company”, “Coherus”, “we”, our” or “us”) 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.

Need to Raise Additional Capital

As of March 31, 2017 the Company had an accumulated deficit of $612.1 million and cash and cash equivalents and short-term investments in marketable securities of $174.8 million. In January 2017, the Company issued and sold 148,827 shares of common stock at a weighted average price of $28.88 per share through its ATM Offering Program and received total net proceeds of $4.2 million, and in February and March 2017, the Company issued and sold 5,294,902 shares of common stock at a price of $24.25 per share from its follow-on offering and received total net proceeds of $120.4 million (see Note 8). The Company believes that its current available cash and cash equivalents and short-term investments in marketable securities will be sufficient to fund its planned expenditures and meet the Company’s obligations for at least 12 months following our financial statement issuance date. 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. If the Company is unable to obtain adequate financing when needed, it may have to delay, reduce the scope of or suspend one or more of its clinical trials, research and development programs or commercialization efforts.

Basis of Presentation and Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2017

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, 2017: Coherus Intermediate Corp, Coherus Oncology, Inc., Orphonix, Inc., InteKrin Therapeutics Inc. (“InteKrin”), and InteKrin’s 82.5% majority owned subsidiary of InteKrin Russia. Unless otherwise specified, references to the Company are references to Coherus and its consolidated subsidiaries. All intercompany transactions and balances have been eliminated upon consolidation. 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 only 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 14, 2017.

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 stock-based compensation, valuation of deferred tax assets, impairment of goodwill and long-lived assets, the valuation of acquired intangible assets, clinical trial accruals, revenue recognition period, contingent consideration, convertible notes valuation, 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 these 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.

The foreign exchange gains and losses recorded in other expense, net in the condensed consolidated statements of operations for the three months ended March 31, 2017 and 2016, were a net gain of $171,000 and a net loss of $264,000, respectively.

Segment Reporting and Customer Concentration

The Company operates and manages its business as one reportable and operating segment, which is the business of developing and commercializing biosimilar products, and, as part of the InteKrin acquisition, small molecules. 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,
	2017		2016
United States	$	—	$	12,005
Rest of world		161		354
Total revenue	$	161	$	12,359

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

	Three Months Ended
	March 31,
	2017			2016
Baxalta	*				97	%
Daiichi Sankyo		100	%	*

* less than 10%

Cash and Cash Equivalents

Cash and cash equivalents are comprised of cash and highly liquid investments with remaining maturities of 90 days or less at the date of purchase. The Company limits cash investments to financial institutions with high credit standings; therefore, management believes that there is no significant exposure to any credit risk in the Company’s cash and cash equivalents.

Investments in Marketable Securities

Management determines the appropriate classification of investments in marketable securities at the time of purchase based upon management’s intent with regards to such investments and reevaluates such designation as of each balance sheet date. All investments in marketable securities are held as “available-for-sale” and are carried at estimated fair value as determined based upon quoted market prices or pricing models for similar securities.

The Company classifies investments in marketable securities as short-term when they have remaining contractual maturities of one year or less from the balance sheet date. Unrealized gains and losses are excluded from earnings and are reported as a component of accumulated comprehensive income (loss). Realized gains and losses and declines in value judged to be other than temporary, if any, on available –for-sale securities are included in other expense, net, based on specific identification method.

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.

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. A milestone is defined as an event that can only be achieved based on the Company’s performance where 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.

Revenue from a 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.

Research and Development Expenses

Research and development costs are charged to expenses as incurred. Research and development expenses include, among other costs, salaries and other personnel-related costs, consultant fees, preclinical costs, cost to manufacture drug candidates and clinical trial costs and supplies, laboratory supplies costs and facility-related costs. Costs incurred under agreements with third parties are charged to expense as incurred in accordance with the specific contractual performance terms of such agreements. Costs of third parties include costs associated with manufacturing drug candidates, preclinical and clinical support activities. Advance payments for goods or services to be received in the future to be utilized in research and development activities are deferred and capitalized. The capitalized amounts are expensed as the related goods are delivered or the services are received.

The Company considers regulatory approval of product candidates to be uncertain, and product manufactured prior to regulatory approval may not be sold unless regulatory approval is obtained. The Company expenses manufacturing costs for product candidates incurred prior to regulatory approval as research and development expenses as the Company incurs them. If and when regulatory approval of a product is obtained, the Company will begin capitalizing manufacturing costs related to the approved product into inventory.

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 Company’s other comprehensive loss includes unrealized gains and losses from available-for-sale marketable securities and foreign currency translation adjustments for the three months ended March 31, 2017 and 2016.

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 net loss position for the 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 for those periods presented.

Recent Accounting Pronouncements

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), which amends the existing accounting standards for revenue recognition. Subsequently, the FASB has issued the following standards related to ASU 2014-09: ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations; ASU No. 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing; and ASU No. 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients. The Company is required to adopt ASU 2016-08, ASU 2016-10 and ASU 2016-12 with ASU 2014-09 (collectively, the “new revenue standard”) which is effective for annual and interim periods beginning after December 15, 2017 and early adoption is permitted.

The new revenue standard permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the modified retrospective method). The Company plans to adopt the standard in the first quarter of 2018 using the modified retrospective method. The Company has evaluated its contracts and assessed that the license agreement with Daiichi Sankyo (see Note 5) is the only contract that would be impacted by the new revenue standard, and the Company is currently evaluating the materiality that this contract may have on its condensed consolidated financial statements and related disclosures.

In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities. ASU 2016-01 makes amendments to the classification and measurement of financial instruments and revises the accounting related to: (1) the classification and measurement of investments in equity securities, and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. In addition, the update also amends certain disclosure requirements associated with the fair value of financial instruments. ASU 2016-01 is effective for the Company’s interim and annual reporting periods during the year ending December 31, 2018, and all annual and interim reporting periods thereafter. Early adoptions of certain amendments within the update are permitted. The Company is currently evaluating the impact that the adoption of ASU 2016-01 will have on its condensed consolidated financial statements and related disclosures.

In February 2016, the FASB issued ASU No. 2016-02, Leases. ASU 2016-02 is aimed at making leasing activities more transparent and comparable, and requires substantially that all leases be recognized by lessees on their balance sheet as a right-of-use asset and corresponding lease liability, including leases currently accounted for as operating leases. ASU 2016-02 is effective for the Company’s interim and annual reporting periods during the year ending December 31, 2019, and all annual and interim reporting periods thereafter. Early adoption is permitted. The Company plans to adopt this new standard prospectively on January 1, 2019 and is evaluating the impact of the adoption of this standard on its unaudited condensed financial statements. The Company expects that it will increase its lease assets and correspondingly increase its lease liabilities.

In March 2016, the FASB issued ASU No. 2016-09, Compensation-Stock Compensation: Improvements to Employee Share-Based Payment Accounting. ASU 2016-09 simplifies several aspects of the accounting for share-based payment award transactions, including: (1) the income tax consequences, (2) classification of awards as either equity or liabilities, and (3) classification on the statement of cash flows. ASU 2016-09 is effective for the Company’s interim and annual reporting periods beginning on January 1, 2017, and all annual and interim reporting periods thereafter. The Company adopted ASU 2016-09 on January 1, 2017. Under this guidance, on a prospective basis, companies will no longer record excess tax benefits and certain tax deficiencies in additional paid-in capital. Instead, they will record all excess tax benefits and tax deficiencies as income tax expense or benefit in the statement of operations. In addition, the guidance eliminates the requirement that excess tax benefits be realized before companies can recognize them. The standard requires a cumulative-effect adjustment for previously unrecognized excess tax benefits in opening retained earnings in the annual period of adoption. As of January 1, 2017, the Company had a previously unrecognized deferred tax asset of $10.8 million relating to the excess tax benefits. Upon adoption, the Company recognized this excess tax benefit as a deferred tax asset with a corresponding increase to our deferred tax asset valuation allowance. Additionally, as provided for under this new guidance, the Company elected to account for forfeitures as they occur. The adoption of this standard did not have a material impact on the Company’s financial statements.

In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments (ASU 2016-15). The amendment to this update addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. ASU 2016-15 is effective for the Company’s interim and annual reporting periods during the year ending December 31, 2018, and all annual and interim reporting periods thereafter. Early adoption is permitted. The Company is currently evaluating the impact that the adoption of ASU 2016-15 will have on its condensed consolidated financial statements and related disclosures.

In October 2016, the FASB issued ASU No. 2016-16, Income Taxes: Intra-Entity Transfers of Assets Other Than Inventory (ASU 2016-16). This update is to improve the accounting for the income tax consequences of intra-entity transfers of assets other than inventory. ASU 2016-16 amends the guidance to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. Consequently, the amendments in this update eliminate the exception for an intra-entity transfer of an asset other than inventory. The amendments in this update do not include new disclosure requirements; however, existing disclosure requirements might be applicable when accounting for the current and deferred income taxes for an intra-entity transfer of an asset other than inventory. ASU 2016-16 is effective for the Company’s interim and annual reporting periods during the year ending December 31, 2018, and all annual and interim reporting periods thereafter. Early adoption is permitted. The Company does not expect that the adoption of ASU 2016-16 will have a material effect on its condensed consolidated financial statements and related disclosures.

In January 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other: Simplifying the Test for Goodwill Impairment (ASU 2017-04), which is to simplify the current requirements for testing goodwill for impairment by eliminating the second step of the two-step impairment test to measure the amount of an impairment loss. ASU 2017-04 is effective for the Company’s interim and annual reporting periods during the year ending December 31, 2020, and all annual and interim reporting periods thereafter. Early adoption is permitted. The Company is currently evaluating the impact that the adoption of ASU 2017-04 will have on its condensed 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 that no material effect is expected on the condensed consolidated financial statements as a result of future adoption.

Fair Value Measurements

3 Months Ended

Mar. 31, 2017

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, restricted cash, investments in marketable securities, accounts receivable, 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.

A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The Company’s financial instruments consist of Level 1 and Level 2 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 and U.S. government agency securities.

When quoted market prices are not available for the specific security, then the Company estimate fair value by using quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which all significant inputs are observable in the market or can be corroborated by observable market data for substantially the full term of the assets. Where applicable, these models project future cash flows and discount the future amounts to a present value using market-based observable inputs obtained from various third party data providers, including but not limited to, benchmark yields, interest rate curves, reported trades, broker/dealer quotes and market reference data. Level 2 assets consist of corporate notes and commercial paper. Level 2 inputs for the valuations are limited to quoted prices for similar assets or liabilities in active markets and inputs other than quoted prices that are observable for the asset or liability.

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.

There were no transfers between Level 1 and Level 3 during the periods presented. In March 2017, there were transfers from Level 1 into Level 2 for the purchase of short-term investments in marketable securities.

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, 2017
	Total		Level 1		Level 2		Level 3
Financial Assets:
Money market funds	$	53,202	$	53,202	$	—	$	—
Restricted cash (money market funds)		845		845		—		—
U.S. government agency securities		25,000		25,000		—		—
Corporate notes and commercial paper		93,804		—		93,804		—
Total financial assets	$	172,851	$	79,047	$	93,804	$	—
Financial Liabilities:
Contingent consideration	$	5,940	$	—	$	—	$	5,940

	Fair Value Measurements
	December 31, 2016
	Total		Level 1		Level 2		Level 3
Financial Assets:
Money market funds	$	104,240	$	104,240	$	—	$	—
Restricted cash (money market funds)		845		845		—		—
Total financial assets	$	105,085	$	105,085	$	—	$	—
Financial Liabilities:
Contingent consideration	$	5,550	$	—	$	—	$	5,550

Cash equivalents, investments in marketable securities, which are classified as available-for-sale securities, and restricted cash, consisted of the following (in thousands):

	March 31, 2017
	Cost		Unrealized Gain		Unrealized (Loss)			Estimated Fair Value
Money market funds	$	53,202	$	—	$	—		$	53,202
Corporate notes and commercial paper		48,928		1		(5	)		48,924
U.S. government agency securities		19,979		1		—			19,980
Classified as cash equivalents	$	122,109	$	2	$	(5	)	$	122,106

Corporate notes and commercial paper	$	44,885	$	—	$	(5	)		44,880
U.S. government agency securities		5,021		—		(1	)		5,020
Classified as investments in marketable securities	$	49,906	$	—	$	(6	)	$	49,900

Restricted cash (money market funds)	$	845	$	—	$	—		$	845
Classified as restricted cash	$	845	$	—	$	—		$	845

	December 31, 2016
	Cost		Unrealized Gain		Unrealized (Loss)		Estimated Fair Value
Money market funds	$	104,240	$	—	$	—	$	104,240
Classified as cash equivalents	$	104,240	$	—	$	—	$	104,240

Restricted cash (money market funds)	$	845	$	—	$	—	$	845
Classified as restricted cash	$	845	$	—	$	—	$	845

As of March 31, 2017, the remaining contractual maturities of available-for-sale securities were less than one year.

Contingent Consideration

As part of the InteKrin acquisition in February 2014, the Company recognized contingent consideration associated with potential payments to be made to the former InteKrin stockholders upon (i) the first dosing of a human subject in the first Phase 2 Clinical Trial for CHS-131 ("Earn-Out Payment") and (ii) per a compound transaction agreement as defined in the purchase agreement (the “Compound Transaction Payment”). The contingent consideration related to the Earn-Out Payment was settled on March 6, 2015.

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 as of March 31, 2017 applied a 25% risk-adjusted discount rate to measure present value and also captured an additional 8% 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. Generally, increases or decreases in the probability of occurrence would result in a directionally similar impact in the fair value measurement of the Compound Transaction Payment and it is estimated that a 1% increase (decrease) in the probability of occurrence would result in a fair value fluctuation of approximately $0.2 million.

The change in the fair value of the Compound Transaction Payment was recognized in other expense, net within the condensed consolidated statement of operations of $390,000 and $190,000 for the three months ended March 31, 2017 and 2016, respectively.

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, 2016	$	5,550
Change in fair value of the contingent consideration liability		390
Balance as of March 31, 2017	$	5,940

Convertible Notes

The estimated fair value of the 8.2% Convertible Senior Notes Due 2022, which the Company issued on February 29, 2016 (see Note 6) is based on an income approach. The estimated fair value was approximately $144.0 million (par value $100.0 million) as of March 31, 2017 and represents a Level 3 valuation. When determining the estimated fair value of the Company’s long-term debt, the Company uses a single factor binomial lattice model which incorporates the terms and conditions of the convertible notes and market based risk measurement that are indirectly observable, such as credit risk. The lattice model produces an estimated fair value based on changes in the price of the underlying common shares price over successive periods of time. An estimated yield based on market data is used to discount straight debt cash flows. Key valuation assumptions used for the convertible debt valuation was volatility of 70% for the Company’s common stock and straight debt yield of 14.6% as of March 31 ,2017.

- 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, 2017

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,
	2017		2016
Prepaid clinical and other - related parties (see Note 10)	$	3,450	$	3,714
Prepaid clinical, material and manufacturing		24,377		25,095
Prepaid other		2,657		2,825
Prepaid assets	$	30,484	$	31,634

Property and Equipment, Net

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

	March 31,			December 31,
	2017			2016
Machinery and equipment	$	10,819		$	10,294
Computer equipment and software		1,657			1,500
Furniture and fixtures		714			682
Leasehold improvements		4,344			4,322
Construction in progress		4,229			—
Total property and equipment		21,763			16,798
Accumulated depreciation and amortization		(6,890	)		(6,026	)
Property and equipment, net	$	14,873		$	10,772

Depreciation and amortization expense was $865,000 and $717,000 for the three months ended March 31, 2017 and 2016, respectively.

Accrued Liabilities

Accrued liabilities are as follows (in thousands):

	March 31,		December 31,
	2017		2016
Accrued clinical - related parties (See Note 10)	$	1,832	$	3,542
Accrued clinical and manufacturing		14,858		16,039
Accrued compensation		3,754		6,945
Accrued other		4,223		1,496
Accrued liabilities	$	24,667	$	28,022

Collaboration and License Agreements

3 Months Ended

Mar. 31, 2017

Collaboration And License Agreements [Abstract]

Collaboration 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,
	2017		2016
Baxalta	$	—	$	12,005
Daiichi Sankyo		161		354
Total collaboration and license revenue	$	161	$	12,359

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. In June 2015, the parties also entered into the Memorandum of Understanding No. 3 (the “MOU 3”) in which both parties agreed to cooperate further on a global Phase 3 clinical trial for an open label, safety extension study (“OLSES”) in rheumatoid arthritis. Daiichi Sankyo will be responsible for a minimum of 20% of the cost of the clinical trial. The Company also entered into a clinical supply agreement as part of MOU 2 and MOU 3 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 $1.1 million at both March 31, 2017 and December 31, 2016 in the condensed consolidated balance sheet, as advance payments under license agreement. 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.

In July 2016 and December 2016, the Company entered into three memoranda of understanding (“MOU 4” “MOU 5” and “MOU 6”) with Daiichi Sankyo. Under MOU 4, MOU 5 and MOU 6, the Company will receive up to $4.5 million for reimbursements of certain past costs incurred and to be incurred and the Company will recognize these reimbursements as a reduction of research and development expenses when the research and development activity is performed.

As of March 31, 2017, $1.4 million of revenue was deferred under all arrangements with Daiichi Sankyo, of which $0.7 million was included in current liabilities and $0.7 million was included in non-current liabilities in the condensed consolidated balance sheet. As of December 31, 2016, $1.6 million of revenue was deferred under all arrangements with Daiichi Sankyo, of which $0.9 million was included in current liabilities and $0.7 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 $1.9 million and $1.1 million for the three months ended March 31, 2017 and 2016, respectively.

Baxalta

The Company entered into a license agreement in August 2013 and two subsequent amendments thereto with Baxalta Incorporated, Baxalta US Inc., and Baxalta GmbH (collectively “Baxalta”) (then Baxter International, Inc., part of Shire plc as of June 2016), 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 (as amended, the “Baxalta Agreement”).

On September 26, 2016, Shire issued a termination notice of the Baxalta Agreement, in its entirety as part of its strategic portfolio review after its acquisition of Baxalta. Upon the termination of the Baxalta Agreement, the Company regained from Shire all development and commercial rights previously licensed under the CHS-0214. There were no further contractual obligations. Therefore, the Company recognized the outstanding balances of deferred revenue and contingent liability to collaborator as revenue in its condensed consolidated statements of operations in 2016.

Convertible Notes

3 Months Ended

Mar. 31, 2017

Debt Disclosure [Abstract]

Convertible Notes

6.	Convertible Notes

On February 29, 2016, the Company issued and sold $100.0 million aggregate principal amount of its 8.2% Convertible Senior Notes (the “Convertible Notes”). The Convertible Notes constitute general, senior unsubordinated obligations of the Company and are guaranteed by certain subsidiaries of the Company. The Convertible Notes bear interest at a fixed coupon rate of 8.2% per annum payable quarterly in arrears on March 31, June 30, September 30 and December 31 of each year, which commenced on March 31, 2016, and mature on March 31, 2022, unless earlier converted, redeemed or repurchased. The Convertible Notes also bear a premium of 9% of their principal amount, which is payable when the Convertible Notes mature or are repurchased or redeemed by the Company.

The Convertible Notes were issued to Healthcare Royalty Partners III, L.P., for $75.0 million in aggregate principal amount, and to three related party investors, KKR Biosimilar L.P., MX II Associates LLC, and KMG Capital Partners, LLC, for $20.0 million, $4.0 million, and $1.0 million, respectively, in aggregate principal amount.

The Convertible Notes are convertible at the option of the holder at any time prior to the close of business on the business day immediately preceding March 31, 2022 at the initial conversion rate of 44.7387 shares of common stock per $1,000 principal amount of Convertible Notes, which is equivalent to an initial conversion price of approximately $22.35 per share, and is subject to adjustment in certain events. Upon conversion of the Convertible Notes by a holder, the holder will receive shares of the Company’s common stock together, if applicable, with cash in lieu of any fractional share.

The Convertible Notes are redeemable in whole, and not in part, at the Company’s option on or after March 31, 2020, if the last reported sale price per share of common stock exceeds 160% of the conversion price on 20 or more trading days during the 30 consecutive trading days preceding the date on which the Company sends notice of such redemption to the holders of the Convertible Notes. At maturity or redemption, if not earlier converted, the Company will pay 109% of the principal amount of the Convertible Notes maturing or being redeemed, together with accrued and unpaid interest, in cash.

The Convertible Notes contain customary negative covenants and events of default (as defined in the Convertible Note purchase agreement), the occurrence of which could result in the acceleration of all amounts due under the Convertible Note. As of March 31, 2017, the Company was in full compliance with these covenants and there were no events of default under the Convertible Notes.

The Convertible Notes are accounted for in accordance with ASC Subtopic 470-20, Debt with Conversion and Other Options. Pursuant to ASC Subtopic 470-20, the Company evaluated the features embedded in the Convertible Notes and concluded that the embedded features are not required to be bifurcated and accounted for separately from the host debt instrument.

The following table summarizes information about the components of the Convertible Notes (in thousands):

	March 31,			December 31,
	2017			2016
Principal amount of the Convertible Notes	$	81,750		$	81,750
Unamortized debt discount and debt issuance costs		(6,313	)		(6,558	)
Convertible Notes	$	75,437		$	75,192

Principal amount of the Convertible Notes - related parties	$	27,250		$	27,250
Unamortized debt discount and debt issuance costs - related parties		(2,104	)		(2,186	)
Convertible Notes - related parties	$	25,146		$	25,064
Total Convertible Notes	$	100,583		$	100,256

If the Convertible Notes were to be converted on March 31, 2017, the holders of the Convertible Notes would receive common shares with an aggregate value of $94.6 million based on the Company’s closing stock price of $21.15.

The following table presents the components of interest expense (in thousands):

	Three Months Ended
	March 31,
	2017		2016
Stated coupon interest	$	1,538	$	547
Accretion of debt discount and debt issuance costs		245		80
Interest expense	$	1,783	$	627
Stated coupon interest - related parties	$	512	$	182
Accretion of debt discount and debt issuance costs - related parties		81		27
Interest expense - related parties	$	593	$	209
Total interest expense	$	2,376	$	836

The remaining unamortized debt discount and debt offering costs related to the Company’s Convertible Notes of approximately $8.4 million as of March 31, 2017, will be amortized using the effective interest rate over the remaining term of the Convertible Notes of 5.0 years. The annual effective interest rate is 9.48% for the Convertible Notes. During the three months ended March 31, 2017 and 2016, respectively, the Company recognized total interest expense of $2.4 million and $0.8 million, respectively, related to the Convertible Notes’ accrued interest and amortization of the debt discount.

Future payments on the Convertible Notes as of March 31, 2017 are as follows (in thousands):

Year ending December 31,
Remainder of 2017	$	6,150
2018		8,200
2019		8,200
2020		8,200
2021		8,200
2022 and thereafter		111,050
Total minimum payments		150,000
Less amount representing interest		(41,000	)
Convertible Notes, principal amount		109,000
Less debt discount and debt issuance costs on Convertible Notes		(8,417	)
Net carrying amount of Convertible Notes	$	100,583

Commitments and Contingencies

3 Months Ended

Mar. 31, 2017

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

7.	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 for the manufacture of clinical trial materials. The contracts are cancellable, with varying provisions regarding termination. If a contract with a specific vendor were to be terminated, the Company would only be obligated for products or services that the Company had received as of the effective date of the termination and any applicable cancellation fees.

Contingencies

On March 3, 2017, Amgen Inc. and Amgen USA Inc. (collectively “Amgen”) filed an action against the Company, KBI BioPharma Inc., the Company’s employee Howard S. Weiser and Does 1-20 in the Superior Court of the State of California, County of Ventura. The complaint alleges that the Company engaged in unfair competition and improperly solicited and hired certain former Amgen employees in order to acquire and access trade secrets and other confidential information belonging to Amgen. On April 21, 2017, Amgen filed a First Amended Complaint, which alleges as to Coherus (i) unfair competition under California Business and Professions Code Section 17200 et seq., (ii) misappropriation of trade secrets, (iii) aiding and abetting breach of duty of loyalty and (iv) tortious interference with contract. As to defendant Weiser, the First Amended Complaint also alleges (i) breach of contract, (ii) violation of Penal Code Section 502 and (iii) breach of duty of loyalty. The First Amended Complaint seeks injunctive relief and monetary damages. Although Amgen has indicated it intends to seek a preliminary injunction, no motion has been filed yet, and no schedule has been set in this matter. The Company believes that this lawsuit is without merit and intends to vigorously defend its position. However, if Amgen were to be successful in its effort to seek injunctive relief, this legal action may delay the timing of our CHS-1701 commercial release, and negatively affect our future revenues and results of operations. It is not possible at this time to determine the likelihood of an unfavorable outcome or an estimate of the amount or range of any potential loss.

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.

Common Stock and Stock-Based Compensation

3 Months Ended

Mar. 31, 2017

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Common Stock and Stock-Based Compensation

8.	Common Stock and Stock-Based Compensation

Common Stock Offerings

In October 28, 2016, the Company entered into a sales agreement (the “Sales Agreement”) with Cowen to sell shares of the Company’s common stock, with aggregate gross sales proceeds of up to $100,000,000, from time to time, through an at-the-market equity offering program under which Cowen will act as its sales agent (the “ATM Offering Program”). Cowen is entitled to compensation for its services equal to 3.0% of the gross proceeds of any shares of common stock sold through Cowen under the Sales Agreement. In January 2017, the Company sold 148,827 shares of common stock at a weighted average price of $28.88 per share through its ATM Offering Program and received total gross proceeds of $4.3 million. After deducting commissions of $0.1 million, the net proceeds were $4.2 million.

In February and March 2017, the Company issued and sold 5,294,902 shares of common stock at a price of $24.25 per share. The Company received total gross proceeds from the offering of $128.4 million. After deducting underwriting discounts and commissions of $7.7 million and offering expense of $0.3 million, the net proceeds were $120.4 million.

Stock-Based Compensation

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

	Three Months Ended
	March 31,
	2017		2016
Research and development	$	3,900	$	2,520
General and administrative		3,910		2,798
	$	7,810	$	5,318

Net Loss Per Share Attributable to Coherus

3 Months Ended

Mar. 31, 2017

Earnings Per Share [Abstract]

Net Loss Per Share Attributable to Coherus

9.	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,
	2017			2016
Numerator:
Net loss attributable to Coherus	$	(74,778	)	$	(65,388	)
Denominator:
Weighted-average number of shares used in computing net loss per share attributable to Coherus, basic and diluted		48,711,958			39,095,975
Net loss per share attributable to Coherus, basic and diluted	$	(1.54	)	$	(1.67	)

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:

	Outstanding as of
	March 31,
	2017		2016
Stock options		10,656,082		8,110,487
Restricted stock units		12,000		—
Shares issuable upon conversion of Convertible Notes		4,473,871		4,473,871
Total		15,141,953		12,584,358

Related Party Transactions

3 Months Ended

Mar. 31, 2017

Related Party Transactions

10.	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, 2017, the Company had $3.5 million in prepaid assets (prepaid clinical and other–related parties), $2.0 million in current other assets, $2.1 million in accounts payable–related parties, and $1.8 million in accrued and other liabilities (accrued clinical and other–related parties), all reflected on the Company’s condensed consolidated balance sheet associated with Medpace. As of December 31, 2016, the Company had $3.7 million in prepaid assets (prepaid clinical and other–related parties), $2.2 million in current other assets, $0.9 million in accounts payable–related parties, and $3.5 million in accrued and other liabilities (accrued clinical–related parties), all reflected on the Company’s condensed consolidated balance sheet associated with Medpace. The Company recognized $3.8 million and $13.1 million during the three months ended March 31, 2017 and 2016, respectively, for services rendered by Medpace within research and development expense in the condensed consolidated statements of operations.

Recruiting Services

One member of the Company’s board of directors is a partner of a firm that provided recruiting services to the Company. As such, the recruiting services provided were deemed to be related party transactions. As of March 31, 2017 and December 31, 2016, there were no such related party balances in the Company’s condensed consolidated balance sheet. The Company recorded in research and development expense in its condensed consolidated statements of operations, $0 and $131,000 for the three months ended March 31, 2017 and 2016, respectively, for services rendered by the recruiting company. The Company recorded in general and administrative expense in its condensed consolidated statements of operations, $65,000 and $0 for the three months ended March 31, 2017 and 2016, respectively, for services rendered by the recruiting company.

Convertible Notes

In February 2016, the Company issued Convertible Notes to certain related parties (some companies affiliated with members of the Company’s board of directors), for an aggregate principal amount of $25.0 million (see Note 6 for related party disclosure).

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

3 Months Ended

Mar. 31, 2017

Accounting Policies [Abstract]

Unaudited Condensed Consolidated Financial Statements

Use of Estimates

Foreign Currency

Segment Reporting and Customer Concentration

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

	Three Months Ended
	March 31,
	2017		2016
United States	$	—	$	12,005
Rest of world		161		354
Total revenue	$	161	$	12,359

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

	Three Months Ended
	March 31,
	2017			2016
Baxalta	*				97	%
Daiichi Sankyo		100	%	*

* less than 10%

Cash and Cash Equivalents

Investments in Marketable Securities

Revenue Recognition

Research and Development Expenses

Comprehensive Loss

Net Loss per Share Attributable to Coherus

Recent Accounting Pronouncements

Fair Value Measurements

Level 1 — Quoted prices in active markets for identical 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.

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.

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

3 Months Ended

Mar. 31, 2017

Accounting Policies [Abstract]

Summary of Revenue by Geographical Region

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

	Three Months Ended
	March 31,
	2017		2016
United States	$	—	$	12,005
Rest of world		161		354
Total revenue	$	161	$	12,359

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

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

	Three Months Ended
	March 31,
	2017			2016
Baxalta	*				97	%
Daiichi Sankyo		100	%	*

* less than 10%

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2017

Fair Value Disclosures [Abstract]

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, 2017
	Total		Level 1		Level 2		Level 3
Financial Assets:
Money market funds	$	53,202	$	53,202	$	—	$	—
Restricted cash (money market funds)		845		845		—		—
U.S. government agency securities		25,000		25,000		—		—
Corporate notes and commercial paper		93,804		—		93,804		—
Total financial assets	$	172,851	$	79,047	$	93,804	$	—
Financial Liabilities:
Contingent consideration	$	5,940	$	—	$	—	$	5,940

	Fair Value Measurements
	December 31, 2016
	Total		Level 1		Level 2		Level 3
Financial Assets:
Money market funds	$	104,240	$	104,240	$	—	$	—
Restricted cash (money market funds)		845		845		—		—
Total financial assets	$	105,085	$	105,085	$	—	$	—
Financial Liabilities:
Contingent consideration	$	5,550	$	—	$	—	$	5,550

Schedule of Cash Equivalents, Investments in Marketable Securities Classified as Available-for-Sale Securities and Restricted Cash

Cash equivalents, investments in marketable securities, which are classified as available-for-sale securities, and restricted cash, consisted of the following (in thousands):

	March 31, 2017
	Cost		Unrealized Gain		Unrealized (Loss)			Estimated Fair Value
Money market funds	$	53,202	$	—	$	—		$	53,202
Corporate notes and commercial paper		48,928		1		(5	)		48,924
U.S. government agency securities		19,979		1		—			19,980
Classified as cash equivalents	$	122,109	$	2	$	(5	)	$	122,106

Corporate notes and commercial paper	$	44,885	$	—	$	(5	)		44,880
U.S. government agency securities		5,021		—		(1	)		5,020
Classified as investments in marketable securities	$	49,906	$	—	$	(6	)	$	49,900

Restricted cash (money market funds)	$	845	$	—	$	—		$	845
Classified as restricted cash	$	845	$	—	$	—		$	845

	December 31, 2016
	Cost		Unrealized Gain		Unrealized (Loss)		Estimated Fair Value
Money market funds	$	104,240	$	—	$	—	$	104,240
Classified as cash equivalents	$	104,240	$	—	$	—	$	104,240

Restricted cash (money market funds)	$	845	$	—	$	—	$	845
Classified as restricted cash	$	845	$	—	$	—	$	845

Summary of Changes in the Estimated Fair Value of Contingent Consideration

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, 2016	$	5,550
Change in fair value of the contingent consideration liability		390
Balance as of March 31, 2017	$	5,940

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References + Details

Balance Sheet Components (Tables)

3 Months Ended

Mar. 31, 2017

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Schedule of Prepaid Assets

Prepaid assets are as follows (in thousands):

	March 31,		December 31,
	2017		2016
Prepaid clinical and other - related parties (see Note 10)	$	3,450	$	3,714
Prepaid clinical, material and manufacturing		24,377		25,095
Prepaid other		2,657		2,825
Prepaid assets	$	30,484	$	31,634

Schedule of Property and Equipment, Net

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

	March 31,			December 31,
	2017			2016
Machinery and equipment	$	10,819		$	10,294
Computer equipment and software		1,657			1,500
Furniture and fixtures		714			682
Leasehold improvements		4,344			4,322
Construction in progress		4,229			—
Total property and equipment		21,763			16,798
Accumulated depreciation and amortization		(6,890	)		(6,026	)
Property and equipment, net	$	14,873		$	10,772

Schedule of Accrued Liabilities

Accrued liabilities are as follows (in thousands):

	March 31,		December 31,
	2017		2016
Accrued clinical - related parties (See Note 10)	$	1,832	$	3,542
Accrued clinical and manufacturing		14,858		16,039
Accrued compensation		3,754		6,945
Accrued other		4,223		1,496
Accrued liabilities	$	24,667	$	28,022

Collaboration and License Agreements (Tables)

3 Months Ended

Mar. 31, 2017

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,
	2017		2016
Baxalta	$	—	$	12,005
Daiichi Sankyo		161		354
Total collaboration and license revenue	$	161	$	12,359

Convertible Notes (Tables)

3 Months Ended

Mar. 31, 2017

Debt Disclosure [Abstract]

Components of Convertible Notes

The following table summarizes information about the components of the Convertible Notes (in thousands):

	March 31,			December 31,
	2017			2016
Principal amount of the Convertible Notes	$	81,750		$	81,750
Unamortized debt discount and debt issuance costs		(6,313	)		(6,558	)
Convertible Notes	$	75,437		$	75,192

Principal amount of the Convertible Notes - related parties	$	27,250		$	27,250
Unamortized debt discount and debt issuance costs - related parties		(2,104	)		(2,186	)
Convertible Notes - related parties	$	25,146		$	25,064
Total Convertible Notes	$	100,583		$	100,256

Components of Interest Expense

The following table presents the components of interest expense (in thousands):

	Three Months Ended
	March 31,
	2017		2016
Stated coupon interest	$	1,538	$	547
Accretion of debt discount and debt issuance costs		245		80
Interest expense	$	1,783	$	627
Stated coupon interest - related parties	$	512	$	182
Accretion of debt discount and debt issuance costs - related parties		81		27
Interest expense - related parties	$	593	$	209
Total interest expense	$	2,376	$	836

Schedule of Future Payments on the Convertible Notes

Future payments on the Convertible Notes as of March 31, 2017 are as follows (in thousands):

Year ending December 31,
Remainder of 2017	$	6,150
2018		8,200
2019		8,200
2020		8,200
2021		8,200
2022 and thereafter		111,050
Total minimum payments		150,000
Less amount representing interest		(41,000	)
Convertible Notes, principal amount		109,000
Less debt discount and debt issuance costs on Convertible Notes		(8,417	)
Net carrying amount of Convertible Notes	$	100,583

Common Stock and Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2017

Employees and Nonemployees Stock Option Restricted Stock Units

Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]

Schedule of Stock-Based Compensation Expense

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

	Three Months Ended
	March 31,
	2017		2016
Research and development	$	3,900	$	2,520
General and administrative		3,910		2,798
	$	7,810	$	5,318

Net Loss Per Share Attributable to Coherus (Tables)

3 Months Ended

Mar. 31, 2017

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,
	2017			2016
Numerator:
Net loss attributable to Coherus	$	(74,778	)	$	(65,388	)
Denominator:
Weighted-average number of shares used in computing net loss per share attributable to Coherus, basic and diluted		48,711,958			39,095,975
Net loss per share attributable to Coherus, basic and diluted	$	(1.54	)	$	(1.67	)

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:

	Outstanding as of
	March 31,
	2017		2016
Stock options		10,656,082		8,110,487
Restricted stock units		12,000		—
Shares issuable upon conversion of Convertible Notes		4,473,871		4,473,871
Total		15,141,953		12,584,358

Organization and Operations - Additional Information (Details) - USD ($)
$ / shares in Units, $ in Thousands

1 Months Ended

2 Months Ended

Jan. 31, 2017

Mar. 31, 2017

Dec. 31, 2016

^[1]

Organization And Operations [Line Items]

Accumulated deficit

$ 612,100

$ 537,322

Cash and cash equivalents and short-term investments

$ 174,800

At-the-Market Equity Offering Program

Organization And Operations [Line Items]

Common stock, shares issued and sold

148,827

5,294,902

Share price

$ 28.88

$ 24.25

Common stock, net proceeds

$ 4,200

$ 120,400

[1]	The consolidated balance sheet as of December 31, 2016 has been derived from the audited consolidated balance sheet included in the Company’s 2016 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 14, 2017.

- Definition

Cash includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the customer may deposit additional funds at any time and effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid Investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Short-term investments, exclusive of cash equivalents, generally consist of marketable securities intended to be sold within one year (or the normal operating cycle if longer) and may include trading securities, available-for-sale securities, or held-to-maturity securities (if maturing within one year), as applicable.

+ References + Details

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details)	3 Months Ended
	Mar. 31, 2017 USD ($) Segments	Mar. 31, 2016 USD ($)
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Foreign exchange gain (loss) \| $	$ 171,000	$ (264,000)
Number of reportable segment \| Segments	1
Number of operating segments \| Segments	1
Accounting Standards Update 2016-09
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Deferred tax asset valuation allowance \| $	$ 10,800,000
RUSSIA \| 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, 2017	Mar. 31, 2016
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenue	$ 161	$ 12,359
United States
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenue		12,005
Rest of World
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenue	$ 161	$ 354

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, 2017

Mar. 31, 2016

Baxalta

Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]

Percentage of total revenues by single customer

^[1]

97.00%

Daiichi Sankyo

Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]

Percentage of total revenues by single customer

100.00%

^[1]

[1]	less than 10%

Fair Value Measurements - Additional Information (Details) - USD ($)		3 Months Ended		12 Months Ended
	Feb. 29, 2016	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Fair Value Disclosures [Line Items]
Transfers from Level 1 to Level 3		$ 0		$ 0
Transfers from Level 3 to Level 1		0		$ 0
Remeasurement of fair-value contingent consideration		390,000	$ 190,000
8.2% Senior Convertible Notes Due 2022
Fair Value Disclosures [Line Items]
Aggregate principal amount	$ 100,000,000
Convertible notes, interest rate	8.20%
Debt instrument maturity date	Mar. 31, 2022
Fair value assumptions, expected volatility rate				70.00%
Other Expense, Net
Fair Value Disclosures [Line Items]
Remeasurement of fair-value contingent consideration		390,000,000	$ 190,000,000
Level 3 \| 8.2% Senior Convertible Notes Due 2022
Fair Value Disclosures [Line Items]
Debt instrument fair value		$ 144,000,000
Level 3 \| Long-Term Debt \| Straight Debt
Fair Value Disclosures [Line Items]
Discount rate				14.60%
Fair Value Measurements Recurring Basis \| Level 3 \| Contingent Consideration
Fair Value Disclosures [Line Items]
Discount rate		25.00%
Counterparty credit risk given the cash payment		8.00%
Increase (decrease) in expected probability of compound transaction payment occurrence		1.00%
Estimated fair value fluctuation of Compound Transaction Payment		$ 200,000
Maximum
Fair Value Disclosures [Line Items]
Available sale of securities remaining contractual period		1 year

Fair Value Measurements - Financial Assets and Liabilities Measured on a Recurring Basis (Details) - Fair Value Measurements Recurring Basis - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	$ 172,851	$ 105,085
Contingent Consideration
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial liabilities	5,940	5,550
Money Market Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	53,202	104,240
Restricted Cash (Money Market Funds)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	845	845
U.S. Government Agency Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	25,000
Corporate Notes and Commercial Paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	93,804
Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	79,047	105,085
Level 1 \| Money Market Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	53,202	104,240
Level 1 \| Restricted Cash (Money Market Funds)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	845	845
Level 1 \| U.S. Government Agency Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	25,000
Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	93,804
Level 2 \| Corporate Notes and Commercial Paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	93,804
Level 3 \| Contingent Consideration
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial liabilities	$ 5,940	$ 5,550

Fair Value Measurements - Schedule of Cash Equivalents, Investments in Marketable Securities Classified as Available-for-Sale Securities and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Money Market Funds
Schedule of Available-for-sale securities [Line Items]
Cost	$ 53,202	$ 104,240
Estimated Fair Value	53,202	104,240
Restricted Cash (Money Market Funds)
Schedule of Available-for-sale securities [Line Items]
Cost		845
Estimated Fair Value		845
Cash Equivalents
Schedule of Available-for-sale securities [Line Items]
Cost	122,109	104,240
Unrealized Gain	2
Unrealized (Loss)	(5)
Estimated Fair Value	122,106	104,240
Cash Equivalents \| Corporate Notes and Commercial Paper
Schedule of Available-for-sale securities [Line Items]
Cost	48,928
Unrealized Gain	1
Unrealized (Loss)	(5)
Estimated Fair Value	48,924
Cash Equivalents \| U.S. Government Agency Securities
Schedule of Available-for-sale securities [Line Items]
Cost	19,979
Unrealized Gain	1
Estimated Fair Value	19,980
Investment in Marketable Securities
Schedule of Available-for-sale securities [Line Items]
Cost	49,906
Unrealized (Loss)	(6)
Estimated Fair Value	49,900
Investment in Marketable Securities \| Corporate Notes and Commercial Paper
Schedule of Available-for-sale securities [Line Items]
Cost	44,885
Unrealized (Loss)	(5)
Estimated Fair Value	44,880
Investment in Marketable Securities \| U.S. Government Agency Securities
Schedule of Available-for-sale securities [Line Items]
Cost	5,021
Unrealized (Loss)	(1)
Estimated Fair Value	5,020
Restricted Cash
Schedule of Available-for-sale securities [Line Items]
Cost	845	845
Estimated Fair Value	845	$ 845
Restricted Cash \| Restricted Cash (Money Market Funds)
Schedule of Available-for-sale securities [Line Items]
Cost	845
Estimated Fair Value	$ 845

Fair Value Measurements - Summary of Changes in the Estimated Fair Value of Contingent Consideration (Details) - Contingent Consideration $ in Thousands	3 Months Ended
	Mar. 31, 2017 USD ($)
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 5,550
Change in fair value of the contingent consideration liability	390
Ending balance	$ 5,940

Balance Sheet Components - Schedule of Prepaid Assets (Details) - USD ($)
$ in Thousands

Mar. 31, 2017

Dec. 31, 2016

Prepaid Clinical and Other Related Parties

$ 30,484

$ 31,634

^[1]

Prepaid Clinical, Material and Manufacturing

3,450

3,714

24,377

25,095

Prepaid Other

$ 2,657

$ 2,825

[1]	The consolidated balance sheet as of December 31, 2016 has been derived from the audited consolidated balance sheet included in the Company’s 2016 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 14, 2017.

Balance Sheet Components - Schedule of Property and Equipment, Net (Details) - USD ($)
$ in Thousands

Mar. 31, 2017

Dec. 31, 2016

Accumulated depreciation and amortization

$ 21,763

$ 16,798

(6,890)

(6,026)

Property and equipment, net

14,873

10,772

^[1]

Machinery and Equipment

Computer Equipment and Software

10,819

10,294

1,657

1,500

Furniture and Fixtures

714

682

Leasehold Improvements

4,344

$ 4,322

Construction in Progress

Accrued clinical - related parties

$ 4,229

[1]	The consolidated balance sheet as of December 31, 2016 has been derived from the audited consolidated balance sheet included in the Company’s 2016 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 14, 2017.

Balance Sheet Components - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Property Plant And Equipment [Abstract]
Depreciation and amortization	$ 865	$ 717

Balance Sheet Components - Schedule of Accrued Liabilities (Details) - USD ($)
$ in Thousands

Mar. 31, 2017

Dec. 31, 2016

Payables And Accruals [Abstract]

$ 1,832

$ 3,542

Accrued clinical and manufacturing

14,858

16,039

Accrued compensation

3,754

6,945

Accrued other

4,223

1,496

Accrued liabilities

$ 24,667

$ 28,022

^[1]

[1]	The consolidated balance sheet as of December 31, 2016 has been derived from the audited consolidated balance sheet included in the Company’s 2016 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 14, 2017.

Collaboration and License Agreements - Schedule of Revenue Related to Collaboration and License Agreements (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Collaboration and license revenue	$ 161	$ 12,359
Baxalta License Agreement
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Collaboration and license revenue		12,005
Daiichi Sankyo License Agreement
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Collaboration and license revenue	$ 161	$ 354

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

1 Months Ended

3 Months Ended

12 Months Ended

Jun. 30, 2015

Mar. 31, 2017

Mar. 31, 2016

Dec. 31, 2016

Jan. 31, 2012

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Advance payments under license agreement

$ 1,070,000

^[1]

Deferred revenue, current

669,000

892,000

^[1]

Deferred revenue, non-current

725,000

669,000

^[1]

Daiichi Sankyo License Agreement

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Deferred revenue

1,400,000

1,600,000

$ 10,000,000

Minimum percentage of clinical trial cost

20.00%

Advance payments under license agreement

1,100,000

Reimbursement of past cost incurred and to be incurred

4,500,000

Deferred revenue, current

700,000

900,000

Deferred revenue, non-current

700,000

$ 700,000

Research and development

$ 1,900,000

$ 1,100,000

Baxalta License Agreement

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Business acquisition date

Jun. 03, 2016

Contractual obligations

$ 0

[1]	The consolidated balance sheet as of December 31, 2016 has been derived from the audited consolidated balance sheet included in the Company’s 2016 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 14, 2017.

Convertible Notes - Additional Information (Details)		3 Months Ended
Convertible Notes - Additional Information (Details)	Feb. 29, 2016 USD ($) d $ / shares shares	Mar. 31, 2017 USD ($) $ / shares	Mar. 31, 2016 USD ($)
KKR Member
Debt Instrument [Line Items]
Aggregate principal amount	$ 20,000,000
MX II Member
Debt Instrument [Line Items]
Aggregate principal amount	4,000,000
KMGCP Member
Debt Instrument [Line Items]
Aggregate principal amount	1,000,000
HRP III Member
Debt Instrument [Line Items]
Aggregate principal amount	75,000,000
8.2% Senior Convertible Notes Due 2022
Debt Instrument [Line Items]
Aggregate principal amount	$ 100,000,000
Convertible notes, interest rate	8.20%
Convertible notes, interest rate description		The Convertible Notes bear interest at a fixed coupon rate of 8.2% per annum payable quarterly in arrears on March 31, June 30, September 30 and December 31 of each year, which commenced on March 31, 2016
Debt instrument maturity date	Mar. 31, 2022
Convertible notes, premium percentage	9.00%
Common shares at conversion \| shares	44.7387
Conversion price per common share \| $ / shares	$ 22.35
Principal amount of notes converted into shares	$ 1,000
Percentage of applicable conversion price	160.00%
Convertible trading days \| d	20
Convertible consecutive trading days	30 days
Percentage to pay in cash of the par value of notes	109.00%
Convertible notes, covenant compliance		As of March 31, 2017, the Company was in full compliance with these covenants and there were no events of default under the Convertible Notes.
Convertible notes, converted amount		$ 94,600,000
Closing stock, price per share \| $ / shares		$ 21.15
Unamortized debt discount and debt issuance costs on Convertible Notes		$ 8,417,000
Amortized effective interest rate convertible notes period		5 years
Convertible notes, effective interest rate		9.48%
Total interest expense related to accrued interest and amortization of debt discount		$ 2,400,000	$ 800,000

Convertible Notes - Components of Convertible Notes (Details) - USD ($)
$ in Thousands

Mar. 31, 2017

Dec. 31, 2016

Feb. 29, 2016

Convertible Notes - related parties

Convertible Notes

$ 75,437

$ 75,192

^[1]

25,146

25,064

^[1]

8.2% Senior Convertible Notes Due 2022

Principal amount of the Convertible Notes

$ 100,000

Unamortized debt discount and debt issuance costs

(8,417)

Total Convertible Notes

100,583

100,256

8.2% Senior Convertible Notes Due 2022 | Related Party Debt

Principal amount of the Convertible Notes

27,250

Unamortized debt discount and debt issuance costs

(2,104)

(2,186)

Convertible Notes - related parties

25,146

25,064

8.2% Senior Convertible Notes Due 2022 | Parent Company

Principal amount of the Convertible Notes

81,750

Unamortized debt discount and debt issuance costs

(6,313)

(6,558)

Convertible Notes

$ 75,437

$ 75,192

[1]	The consolidated balance sheet as of December 31, 2016 has been derived from the audited consolidated balance sheet included in the Company’s 2016 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 14, 2017.

Convertible Notes - Components of Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Debt Instrument [Line Items]
Accretion of debt discount and debt issuance costs	$ 326	$ 107
Interest expense	593	209
Total interest expense	2,376	837
8.2% Senior Convertible Notes Due 2022
Debt Instrument [Line Items]
Interest expense	2,400	800
Total interest expense	2,376	836
8.2% Senior Convertible Notes Due 2022 \| Related Party Debt
Debt Instrument [Line Items]
Stated coupon interest	512	182
Accretion of debt discount and debt issuance costs	81	27
Interest expense	593	209
8.2% Senior Convertible Notes Due 2022 \| Parent Company
Debt Instrument [Line Items]
Stated coupon interest	1,538	547
Accretion of debt discount and debt issuance costs	245	80
Interest expense	$ 1,783	$ 627

Convertible Notes - Schedule of Future Payments on the Convertible Notes (Details) - 8.2% Senior Convertible Notes Due 2022 $ in Thousands	Mar. 31, 2017 USD ($)
Debt Instrument [Line Items]
Remainder of 2017	$ 6,150
2018	8,200
2019	8,200
2020	8,200
2021	8,200
2022 and thereafter	111,050
Total minimum payments	150,000
Less amount representing interest	(41,000)
Convertible Notes, principal amount	109,000
Less debt discount and debt issuance costs on Convertible Notes	(8,417)
Net carrying amount of Convertible Notes	$ 100,583

Common Stock and Stock-Based Compensation - Additional Information (Details) - At-the-Market Equity Offering Program - USD ($)		1 Months Ended	2 Months Ended
	Oct. 28, 2016	Jan. 31, 2017	Mar. 31, 2017
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Common stock, shares issued and sold		148,827	5,294,902
Issuance price per share of convertible preferred stock		$ 28.88	$ 24.25
Gross proceeds from issuance of common stock			$ 128,400,000
Underwriting discounts and commissions			7,700,000
Common stock, net proceeds		$ 4,200,000	120,400,000
Offering expense			$ 300,000
Cowen and Company LLC
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Maximum amount of sales that agent may sell in shares of its common stock	$ 100,000,000
Percentage of gross sales proceeds of common stock payable as compensation	3.00%
Common stock, shares issued and sold		148,827
Issuance price per share of convertible preferred stock		$ 28.88
Gross proceeds from issuance of common stock		$ 4,300,000
Underwriting discounts and commissions		100,000
Common stock, net proceeds		$ 4,200,000

Common Stock and Stock-Based Compensation - Schedule of Stock-Based Compensation Expense Related to Options and Restricted Stock Units (Details) - Employees and Nonemployees Stock Option and Restricted Stock Units - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 7,810	$ 5,318
Research and Development Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	3,900	2,520
General and Administrative Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 3,910	$ 2,798

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, 2017	Mar. 31, 2016
Numerator:
Net loss attributable to Coherus	$ (74,778)	$ (65,388)
Denominator:
Weighted-average number of shares used in computing net loss per share attributable to Coherus, basic and diluted	48,711,958	39,095,975
Net loss per share attributable to Coherus, basic and diluted	$ (1.54)	$ (1.67)

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, 2017	Mar. 31, 2016
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from the calculation of diluted net loss per share	15,141,953	12,584,358
Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from the calculation of diluted net loss per share	10,656,082	8,110,487
Shares Issuable Upon Conversion of Convertible Notes
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from the calculation of diluted net loss per share	4,473,871	4,473,871
Restricted Stock Units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from the calculation of diluted net loss per share	12,000

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

3 Months Ended

Mar. 31, 2017

Mar. 31, 2016

Dec. 31, 2016

Feb. 29, 2016

$ 30,484,000

$ 31,634,000

^[1]

Other assets, current

2,866,000

2,986,000

^[1]

Research and development expense

2,109,000

877,000

^[1]

53,775,000

$ 65,313,000

General and administrative expenses from transactions with related party

65,000

Medpace Inc

Other assets, current

2,000,000

2,200,000

Research and development expense

2,100,000

900,000

3,800,000

13,100,000

Medpace Inc | Prepaid Clinical and Other Related Parties