Coherus BioSciences

Coherus BioSciences, Inc. is a commercial-stage biopharmaceutical company, which engages in the development and commercialization of biosimilar therapeutics. Its products include UDENYCA and Coherus COMPLETE. The company was founded by Dennis M. Lanfear, Stuart E. Builder, Dr. Alan Herman, Doug Farrar and Steve Glover in September 2010 and is headquartered in Redwood City, CA.

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Coherus BioSciences targets profitability in 2024 with strong product focus

Coherus BioSciences is strategically positioned to achieve profitability in 2024 through revenue growth and cost control. The company's strong product portfolio and focus on user-friendly solutions provide a competitive edge. Challenges include competition and regulatory approvals, while opportunities exist in expanding product approvals and optimizing expenses.

Coherus BioSciences reports robust Q1 results and eyes market expansion

Coherus BioSciences showcased strong financial performance, product advancements, and strategic initiatives during their Q1 2023 Earnings Call, positioning them for future growth.
While facing challenges such as potential competition and pricing uncertainties, the company's strengths in product diversity, patient engagement, and commercial readiness offer a solid foundation for success.
By capitalizing on opportunities like FDA approvals, therapy combinations, and market share goals, Coherus can navigate challenges and drive innovation in the biopharmaceutical market.

Coherus BioSciences posts robust Q2 earnings, eyes market expansion

Coherus BioSciences reported strong Q2 2023 performance with net product revenues of $58.5 million.
The company aims to achieve cash flow positivity in 2024 through expense management and revenue growth.
Focus on offering low-cost alternatives like CIMERLI and expanding market share for key products.
Plans to leverage the successful launches of UDENYCA and Toripalimab for future growth opportunities.

Coherus BioSciences reports strong Q3 revenue growth and profitability focus

Coherus BioSciences showed strong revenue growth and expense management focus for profitability.
Key products like CIMERLI and UDENYCA drove revenue growth in Q3 2023.
Adjusting R&D expenses to align with revenue and focusing on profitability until mid-2024.
Analysts raised questions on pricing dynamics, profitability goals, and pipeline development plans.

Coherus BioSciences reports strong Q4 results and focuses on growth

Coherus BioSciences showcased strong Q4 results, focusing on efficiency and growth in 2024.
The company achieved FDA approvals for key products, with UDENYCA sales showing growth and LOQTORZI gaining traction.
Financials highlighted cost reductions and pipeline progress, with a cautious approach to revenue projections.
Emphasis on controlling expenses, reducing debt, and driving revenues higher while investing in key products.

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CHRS has sold Cimerli, a Lucentis biosimilar, to SDZNY. CHRS anti-IL-27 antibody, casdozokitug, shows promising results as part of a triple therapy in hepatocellular carcinoma, with an overall response rate of 38%. Numbers on market share point to a strong Q1'24 for Udenyca, which could increase the market's confidence that CHRS can offset lost revenues from the Cimerli sale.

Coherus Biosciences: Dumping One Drug But Showing Promise With Another

The biotech unveiled its latest set of quarterly and annual results. Its revenue for the former period rose sharply, but missed analyst expectations -- as did its bottom-line result.

Why Coherus Biosciences Stock Tumbled on Thursday

Coherus BioSciences, Inc. (CHRS) Q4 2023 Earnings Call Transcript

– Net revenue of $91.5 million in the fourth quarter and $257.2 million in FY 2023 –  – UDENYCA® net sales of $36.2 million in the fourth quarter and $127.1 million in FY 2023 –  – CIMERLI® net sales of $52.4 million in the fourth quarter and $125.4 million in FY 2023 – – LOQTORZI™ and UDENYCA ONBODY™ successfully launched in Q1 2024 –  – Reduction of work force of 30% for 2024 initiated on March 7, 2024 – – Conference call today at 5:00 p.m. Eastern Time – REDWOOD CITY, Calif.

Coherus BioSciences Reports Fourth Quarter, Full Year 2023 Financial Results and Provides Current Business Update

REDWOOD CITY, Calif., March 05, 2024 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus,” NASDAQ: CHRS) today announced that its fourth quarter and full year 2023 financial results will be released after market close on Wednesday, March 13, 2024. Starting at 5:00 pm ET on March 13, 2024, Coherus' management team will host a conference call and webcast to discuss financial results and provide a general business update.

Coherus to Report Fourth Quarter and Full Year 2023 Financial Results on March 13, 2024

– Upfront cash payment of $170 million strengthens capital structure – – Transaction solidifies Coherus' strategic focus in oncology – REDWOOD CITY, Calif., March 04, 2024 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (NASDAQ: CHRS) today announced the completion of the previously announced divestiture of its CIMERLI® (ranibizumab-eqrn) ophthalmology franchise through the sale of its subsidiary, Coherus Ophthalmology LLC, to Sandoz, Inc. for upfront all-cash consideration of $170 million.

Coherus Completes Divestiture of Ophthalmology Franchise

REDWOOD CITY, Calif., Feb. 23, 2024 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus” or the “Company”, Nasdaq: CHRS), today announced that effective February 20, 2024, the compensation committee of the Company's board of directors granted options to purchase an aggregate of 170,000 shares of the common stock of the Company to three newly hired employees with a per share exercise price of $2.59, the closing trading price on the grant date. One Executive Vice President level executive was granted an option to purchase 150,000 shares; and two additional non-officer employees were granted options to purchase an aggregate of 20,000 shares.

Coherus BioSciences Announces New Employment Inducement Grants

– Innovative design enables five-minute pegfilgrastim-cbqv delivery time – – Unique, automatic, retractable needle mechanism engineered to maximize safety and comfort for cancer patients receiving UDENYCA® – REDWOOD CITY, Calif., Feb. 21, 2024 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (Coherus, NASDAQ: CHRS) today announced the launch of UDENYCA ONBODY™, the company's on-body injector (OBI) presentation of UDENYCA® (pegfilgrastim-cbqv), is successfully underway, with a broad distribution of accounts nationwide ordering this innovative device, and patients now accessing its benefits.

Coherus Announces U.S. Launch of UDENYCA ONBODY™ a Novel and Proprietary State-of-the-Art Delivery System for pegfilgrastim-cbqv

Following the closing of its recently announced divestiture of its noncore ophthalmology business, Coherus will prepay a huge chunk of its term loan with Pharmakon. The move will reduce interest expenses by 70%, allowing Coherus to hone its focus on its oncology products.

Why Coherus BioSciences Stock Jumped Today

- Estimated balance of $75 million upon $175 million paydown of principal projected in Q2 2024 - - Revenue covenant reduced to $125 million - - Term loan annual interest expense projected to be reduced by ~70% -

Coherus Amends Term Loan Agreement with Pharmakon Advisors, LP

Coherus BioSciences stock initially jumped after the announcement of a deal to sell Cimerli to Sandoz. However, shares are now sinking with investors reminded of the financial challenges that Coherus faces.

Why Coherus BioSciences Stock Is Sinking Today

Coherus announced a $170 million deal to divest Cimerli to Sandoz Group. The company is paying down debt and refocusing on its core oncology business.

Why Coherus Biosciences Popped Today

Coherus BioSciences (NASDAQ: CHRS ) stock is taking off on Monday after the biopharmaceutical company announced a $170 million divestment. Coherus BioSciences is selling its CIMERLI ophthalmology franchise to Sandoz (OTCMKTS:SDZNY) for an upfront payment of $170 million.

Why Is Coherus BioSciences (CHRS) Stock Up 17% Today?

– Transaction aligns to Coherus' strategic focus on oncology –– Conference call Monday, January 22, 2024, at 8:30 a.m. Eastern Time –

Coherus Announces Agreement to Divest Ophthalmology Franchise to Sandoz in $170 Million Upfront All Cash Deal

– Data demonstrate early activity with casdozokitug/atezolizumab/bevacizumab; 38% objective response rate including three complete responses –

Coherus Presents Positive Phase 2 Clinical Data on Casdozokitug, a First-in-Class IL-27-Targeted Antibody, at the 2024 ASCO GI Cancers Symposium

Inovio Pharmaceuticals

-  Combination therapy to be evaluated in a Phase 3  trial in patients with locoregionally advanced ,  high-risk ,  HPV16/18 - positive head and neck cancer PLYMOUTH MEETING, Pa. and REDWOOD CITY, Calif.

INOVIO and Coherus Announce Clinical Collaboration to Advance Development of INO-3112 in Combination with LOQTORZI™ (toripalimab-tpzi)

REDWOOD CITY, Calif., Jan. 03, 2024 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus,” Nasdaq: CHRS), today announced that senior management will present at the upcoming 42nd Annual J.P. Morgan Healthcare Conference on Wednesday, January 10, 2024, at 9:45 a.m. Pacific Time. The presentation and Q&A session will be accessible via Webcast through a link posted on the Investor Events Calendar section of the Coherus website: https://investors.coherus.com/upcoming-events. This webcast will be available for replay until February 9, 2024.

Coherus BioSciences Management to Present at the 42nd Annual J.P. Morgan Healthcare Conference

– Launch of LOQTORZI offers first and only FDA-approved treatment for NPC in all lines of therapy – – Indicated in combination with chemotherapy for 1 st  line treatment and as monotherapy for patients with disease progression on or after platinum containing chemotherapy, irrespective of PD-L1 status – –  LOQTORZI is now available for purchase through select specialty distributors – REDWOOD CITY, Calif., Jan. 02, 2024 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus,” NASDAQ: CHRS) today announced that LOQTORZI™ (toripalimab-tpzi) is now available through select specialty distributors in the United States.

Coherus Announces U.S. Launch of LOQTORZI™

The FDA approves Coherus' (CHRS) Udenyca Onbody, an on-body injector presentation of Udenyca (pegfilgrastim-cbqv). Shares of the company rise on the news.

Coherus (CHRS) Stock Rallies on FDA Nod for Udenyca Onbody

Coherus BioSciences (NASDAQ:CHRS) shares gained more than 20% in early trade on Wednesday after it revealed that the United States Food and Drug Administration (FDA) has approved UDENYCA ONBODY, the company's on-body injector presentation of UDENYCA (pegfilgrastim-cbqv). Pegfilgrastim or biosimilar drugs are administered to cancer patients the day after they complete chemotherapy to decrease the risk of infection.

Coherus BioSciences shares take off on FDA approval of drug delivery device

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– Innovative design enables five-minute pegfilgrastim delivery time – – Unique, automatic, retractable needle mechanism engineered to maximize safety and comfort for cancer patients receiving pegfilgrastim – REDWOOD CITY, Calif., Dec. 26, 2023 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (Coherus, Nasdaq: CHRS), a commercial-stage biopharmaceutical company focused on the research, development and commercialization of innovative immunotherapies to treat cancer, today announced that the U.S. Food and Drug Administration (FDA) approved UDENYCA ONBODY™, the company's on-body injector (OBI) presentation of UDENYCA® (pegfilgrastim-cbqv), a pegfilgrastim biosimilar administered the day after chemotherapy to decrease the incidence of infection as manifested by febrile neutropenia.

Coherus Announces FDA Approval of UDENYCA ONBODY™, a Novel and Proprietary State-of-the-Art Delivery System for pegfilgrastim-cbqv

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– NCCN Guidelines recommend LOQTORZI as the only Preferred Category 1 treatment option in first-line treatment for adults with metastatic or recurrent locally advanced NPC in combination with chemotherapy; LOQTORZI monotherapy also recommended as the only preferred regimen in subsequent lines of therapy –

Coherus Announces Updated NCCN Clinical Practice Guidelines Positioning LOQTORZI™ (toripalimab-tpzi) as Preferred Category 1 Regimen for First-Line Treatment of Cancer of the Nasopharynx

REDWOOD CITY, Calif., Dec. 07, 2023 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (Coherus, Nasdaq: CHRS), today announced that McDavid Stilwell, Chief Financial Officer (CFO), has resigned from the company to pursue other opportunities. Mr. Stilwell's last day of employment with Coherus will be December 31, 2023, with ongoing service provided beyond that date by mutual agreement. Coherus will appoint a new interim Principal Financial Officer in late December 2023 or early January 2024 while it conducts a search for a new Chief Financial Officer and Principal Financial Officer.

News for Coherus BioSciences Stock (CHRS)