XML 41 R29.htm IDEA: XBRL DOCUMENT
v3.22.4

Debt Obligations (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Debt Instrument |
Summary of the Company's Debt Obligations | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | At December 31, 2022
(in thousands) | Principal Amount | ​ | ​ | Unamortized Debt Discount and Debt Issuance Costs | ​ | Net Carrying Value | ​ | Estimated Fair Value |  | Level
Financial Liabilities: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ |
2027 Term Loans | $ | 250,000 | ​ | $ | (4,517) | ​ | $ | 245,483 | ​ | $ | 245,483 | ​ | Level 2*
2026 Convertible Notes | $ | 230,000 | ​ | $ | (4,425) | ​ | $ | 225,575 | ​ | $ | 157,205 | ​ | Level 2**
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | At December 31, 2021
(in thousands) | Principal Amount | ​ | Unamortized Exit Fee, Debt Discount and Debt Issuance Costs | ​ | Net Carrying Value | ​ | Estimated Fair Value |  | Level
Financial Liabilities: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  |  |
2026 Convertible Notes | $ | 230,000 | ​ | $ | (5,712) | ​ | $ | 224,288 | ​ | $ | 271,860 | ​ | Level 2**
2022 Convertible Notes | $ | 109,000 | ​ | $ | (521) | ​ | $ | 108,479 | ​ | $ | 108,361 | ​ | Level 3***
2025 Term Loan | $ | 75,000 | ​ | $ | 513 | ​ | $ | 75,513 | ​ | $ | 75,513 | ​ | Level 2*
​
* | The principal amounts outstanding are subject to variable interest rates, which are based on three-month LIBOR plus fixed percentages through March 31, 2023. Therefore, the Company believes the carrying amount of these obligations approximates fair value.
** | The fair value is influenced by interest rates, the Company’s stock price and stock price volatility and is determined by prices observed in market trading. Since the market for trading of the 2026 Convertible Notes is not considered to be an active market, the estimated fair value is based on Level 2 inputs.
*** | The fair value was based on an income approach using 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, and therefore were Level 3 inputs. The lattice model produced 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 was used to discount straight debt cash flows.
2027 Term Loans |
Debt Instrument |
Components of Interest Expense | ​
​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
(in thousands) | ​ | 2022
Stated coupon interest | ​ | $ | 20,243
Amortization of debt discount and debt issuance costs | ​ | ​ | 4,550
Total interest expense | ​ | $ | 24,793
​
Schedule of Future Payments on Debt | ​
​ | ​ | ​ | ​
Year ending December 31, (in thousands) | ​ | ​ | ​
2023 - interest only | ​ | $ | 30,412
2024 - interest only | ​ | ​ | 30,496
2025 - interest only | ​ |  | 30,412
2026 - principal and interest | ​ |  | 221,231
2027 - principal and interest | ​ | ​ | 50,083
Total minimum payments | ​ |  | 362,634
Less amount representing interest | ​ |  | (112,634)
2027 Term Loans, gross | ​ |  | 250,000
Less unamortized debt discount and debt issuance costs, net | ​ |  | (4,517)
Net carrying amount of 2027 Term Loans | ​ | $ | 245,483
​
1.5% Convertible Senior Subordinated Notes due 2026 |
Debt Instrument |
Components of Interest Expense | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Year Ended December 31,
(in thousands) | 2022 | ​ | 2021 | ​ | 2020
Stated coupon interest | $ | 3,450 | ​ | $ | 3,450 | ​ | $ | 2,434
Amortization of debt discount and debt issuance costs |  | 1,286 | ​ |  | 1,259 | ​ |  | 873
Total interest expense | $ | 4,736 | ​ | $ | 4,709 | ​ | $ | 3,307
​
Schedule of Future Payments on Debt | Future payments on the 2026 Convertible Notes as of December 31, 2022 are as follows:
​ | ​ | ​ | ​
Year ending December 31, (in thousands) |  | ​ | ​
2023 - interest only | ​ | $ | 3,450
2024 - interest only | ​ | ​ | 3,450
2025 - interest only | ​ |  | 3,450
2026 | ​ |  | 231,725
Total minimum payments | ​ |  | 242,075
Less amount representing interest | ​ |  | (12,075)
2026 Convertible Notes, principal amount | ​ |  | 230,000
Less unamortized debt discount and debt issuance costs | ​ |  | (4,425)
Net carrying amount of 2026 Convertible Notes | ​ | $ | 225,575
​
8.2% Convertible Notes due 2022 |
Debt Instrument |
Components of Interest Expense | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Year Ended December 31,
(in thousands) | 2022 |  | 2021 |  | 2020
Stated coupon interest | $ | 2,050 | ​ | $ | 8,200 | ​ | $ | 8,200
Amortization of debt discount and debt issuance costs |  | 521 | ​ |  | 1,966 | ​ |  | 1,791
Total interest expense | $ | 2,571 | ​ | $ | 10,166 | ​ | $ | 9,991
​
2025 Term Loan |
Debt Instrument |
Components of Interest Expense | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
(in thousands) | ​ | 2022 | ​ | 2021 |  | 2020
Stated coupon interest | ​ | $ | 154 | ​ | $ | 7,034 | ​ | $ | 7,053
Amortization of debt discount and debt issuance costs | ​ |  | 16 | ​ |  | 1,032 | ​ |  | 818
Total interest expense | ​ | $ | 170 | ​ | $ | 8,066 | ​ | $ | 7,871

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of interest income and expense, including, but not limited to, interest income and expense from investments, loans, and securities. + References No definition available. + Details
Name: | us-gaap_InterestIncomeAndInterestExpenseDisclosureTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCarryingValuesAndEstimatedFairValuesOfDebtInstrumentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=123465755&loc=d3e1835-112601 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_DebtInstrumentAxis=chrs_TermLoansMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=chrs_ConvertibleSeniorSubordinatedNotesDue20261.5Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=chrs_ConvertibleSeniorNotes8.2PercentDue2022Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=us-gaap_LoansPayableMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |