Welcome to our dedicated page for Coherus BioSciences news (Ticker: CHRS), a resource for investors and traders seeking the latest updates and insights on Coherus BioSciences stock.
Coherus BioSciences, Inc. (NASDAQ: CHRS) is a leading commercial-stage biopharmaceutical company dedicated to improving patient access to high-quality, life-changing biologic medicines. Established in 2010 and headquartered in the San Francisco Bay Area, Coherus specializes in developing biosimilars and innovative immuno-oncology therapies to treat various chronic and life-threatening diseases.
Coherus' core business revolves around providing biosimilar therapeutics that are designed to replace existing branded biologics, thereby reducing healthcare costs. The company's biosimilar portfolio includes FDA-approved products like UDENYCA® (a biosimilar to Neulasta®) and YUSIMRY® (a biosimilar to Humira®), which is set to launch in the US in 2023. These products help manage conditions such as cancer and autoimmune diseases, expanding patient access to essential treatments.
Recently, Coherus completed the divestiture of its ophthalmology franchise, CIMERLI®, to Sandoz, Inc. for $170 million. This move allows Coherus to focus more intently on its immuno-oncology pipeline, which includes the promotion of LOQTORZI™ (toripalimab-tpzi), a next-generation PD-1 inhibitor approved for nasopharyngeal carcinoma. The company's strategy includes advancing its novel immuno-oncology candidates like CHS-114 and CHS-1000, which are in various stages of clinical development targeting solid tumors.
Financially, Coherus is leveraging the revenue from its biosimilar products to fund its immuno-oncology research and development. The company collaborates with global pharmaceutical partners across Europe, Asia, and Latin America, enhancing its market presence and resource capabilities.
Key updates include the successful preclinical data presentation for CHS-1000 at the 2024 AACR Annual Meeting, showcasing its potential to reverse immunosuppression in the tumor microenvironment. Moreover, the Cancer Research Institute (CRI) has selected LOQTORZI for combination studies to explore its efficacy in drug-resistant cancers, further solidifying Coherus' commitment to pioneering cancer therapy advancements.
Led by a team of seasoned industry veterans, Coherus BioSciences aims to become a global leader in the biosimilar and immuno-oncology markets, continually striving to develop therapies that improve patient outcomes and broaden access to high-quality medical treatments.
On June 27, 2024, Coherus BioSciences (Nasdaq: CHRS) announced the divestiture of YUSIMRY (adalimumab-aqvh) to Hong Kong King-Friend Industrial Co. (HKF) for $40 million in an all-cash deal. The transaction, completed on June 26, 2024, aligns with Coherus' strategic focus on oncology.
Meitheal Pharmaceuticals, a wholly owned subsidiary of HKF, will continue the commercialization of YUSIMRY in the U.S. Coherus plans to use the proceeds to strengthen its cash position and further its oncology initiatives.
Coherus' oncology portfolio includes LOQTORZI (toripalimab-tpzi), an FDA-approved PD-1 inhibitor, and the UDENYCA (pegfilgrastim-cbqv) franchise with three FDA-approved presentations, along with a clinical-stage immuno-oncology portfolio.
Coherus BioSciences (CHRS) has appointed Rita Karachun, CPA, CGMA, to its Board of Directors, effective May 31, 2024. Karachun, a seasoned financial expert with nearly four decades of experience, previously served as SVP and Global Controller at Merck. At Merck, she managed a global team responsible for the company's accounting and operational aspects. Coherus believes her extensive background in finance, accounting, and operational transformation will significantly benefit the company's strategic direction and pipeline advancement. CEO Denny Lanfear expressed confidence in Karachun's ability to contribute to Coherus's growth and transformation.
Coherus BioSciences (Nasdaq: CHRS) will present at the 2024 Jefferies Global Healthcare Conference on June 6, 2024, at 8:30 a.m. EDT/5:30 a.m. PDT.
Senior management will discuss the company's latest developments and strategies.
The presentation can be accessed via a webcast on the Coherus website, and it will be available for replay until July 7, 2024.
Coherus BioSciences announced preliminary Phase 1 results for CHS-114, an anti-CCR8 antibody, at the 2024 ASCO Annual Meeting. CHS-114 exhibited an acceptable safety profile with no dose-limiting toxicities in heavily pretreated patients with solid tumors. Selective depletion of CCR8+ Tregs was maintained, establishing proof of mechanism. One patient experienced Grade 2 colitis as a serious adverse event. Pharmacokinetic data showed dose proportional exposure and a linear elimination half-life of about 10 days. The results support further evaluation of CHS-114 in combination with toripalimab and other immuno-oncology agents. No objective responses were noted, but a stable disease rate of 47% was observed in 19 evaluable patients.
Coherus BioSciences (Nasdaq: CHRS) has announced that its senior management will present at the TD Cowen 5th Annual Oncology Innovation Virtual Summit. This event, set for May 29, 2024, at 12:00 p.m. EDT, will provide insights ahead of the ASCO and EHA conferences. The presentation will be available via webcast through the Coherus website until June 26, 2024. This offers an opportunity for investors and stakeholders to gain valuable insights from Coherus' management team. For more information, investors can reach out to Jami Taylor, Head of Investor Relations at Coherus.
Coherus BioSciences reported net revenue of $77.1 million in Q1 2024, with significant increases in UDENYCA sales and LOQTORZI launch. The company entered into a partnership for toripalimab development, replaced term loan with new debt, and presented positive clinical data. Despite increased expenses, Coherus showed a strong financial performance, with net income of $102.9 million and cash reserves of $259.8 million.
Coherus BioSciences, Inc. announced the full repayment of a $75 million term loan through a new combined term loan and product royalty financing agreement with Barings. This move reduces the Company's term loan debt by half, with a new maturity date of May 2029. The transaction also included a $37.5 million royalty monetization financing based on future sales of LOQTORZI® and UDENYCA®.
Coherus BioSciences, Inc. announced a clinical collaboration with the Cancer Research Institute (CRI) to explore a combination of LOQTORZI (toripalimab-tpzi) with ENB-003 for the treatment of ovarian cancer. The iPROC platform study aims to investigate the potential benefits of this innovative combination in drug-resistant cancers. The selection of LOQTORZI and ENB-003 for this study is supported by strong preclinical and clinical data, with a focus on advancing meaningful solutions for patients.
Coherus BioSciences, Inc. (NASDAQ: CHRS) will report its first quarter 2024 financial results on May 9, 2024. The management team will host a conference call and webcast to discuss the results and business update. Investors can access the webcast replay and related materials on the Coherus website.
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