Coherus Bioscien Stock Price, News & Analysis

Coherus BioSciences (NASDAQ: CHRS) reported Q4 and FY 2021 results, highlighting a net revenue of $73 million in Q4 and $327 million for the year, reflecting declines attributed to increased competition and COVID-19 impacts. The FDA approved YUSIMRY, with a projected launch in 2023, and toripalimab's BLA received priority review for nasopharyngeal carcinoma. The company aims for further diversification with the anticipated launch of CIMERLI. Financial guidance for 2022 estimates combined R&D and SG&A expenses between $415 million and $450 million, coupled with significant projected losses.

Coherus BioSciences has appointed Paul Reider as Chief Commercial Officer, enhancing its leadership as it prepares to launch up to five new products in the next 18 months. Reider brings 30 years of biopharmaceutical experience, including significant roles in marketing and sales at Amgen, Puma Biotechnology, and Ipsen. His expertise includes launching specialty brands and managing blockbuster oncology drugs. Coherus aims to expand its immuno-oncology franchise, backed by the upcoming FDA review of toripalimab, with a target action date of April 2022.

Coherus BioSciences announced on February 14, 2022, the granting of stock options for 236,500 shares to new employees at an exercise price of $12.44. This includes a significant grant of 45,000 shares to a Vice President and 191,500 shares to other non-officer employees. This move aims to incentivize talent under the 2016 Employment Commencement Incentive Plan. Coherus is advancing its immuno-oncology portfolio and has a biologics license application for toripalimab under FDA review, targeting an April 2022 decision date.

Coherus BioSciences (Nasdaq: CHRS) will release its Q4 and full-year 2021 financial results on February 17, 2022, after market close. A conference call and webcast will follow at 5 p.m. ET to discuss these results and provide a business update. Investors can access the results on Coherus' website following the announcement. Interested parties are advised to dial in 15 minutes early for the call. The contact for investor relations is Cheston Turbyfill, reachable at IR@coherus.com.

Coherus BioSciences (Nasdaq: CHRS) announces the appointment of Lee N. Newcomer, M.D. to its Board of Directors, effective February 2, 2022, following the resignation of Jim Healy. With extensive experience in oncology and healthcare, Dr. Newcomer's expertise is expected to enhance Coherus' strategic direction, particularly for the upcoming launch of YUSIMRY™ in the U.S. adalimumab market and its immuno-oncology efforts, including toripalimab. The company aims to build a leading franchise with innovative therapies while continuing to generate revenue from its biosimilars.

Coherus BioSciences (CHRS) and Junshi Biosciences have expanded their immuno-oncology collaboration to evaluate the combination of toripalimab and JS006, a novel TIGIT-targeted antibody, in clinical trials across various tumor types. Coherus will pay Junshi $35 million upfront, up to $255 million in milestones, and an 18% royalty on net revenue. This partnership aims to enhance checkpoint inhibitor efficacy in patients with advanced solid tumors. The FDA has granted priority review for toripalimab's biologics license application, advancing the potential treatment landscape for cancers like nasopharyngeal carcinoma.

Coherus BioSciences (CHRS) announced a new loan agreement with Pharmakon Advisors, providing up to $300 million to support its product launches in 2022 and 2023. The facility consists of four tranches, with the first $100 million already drawn to pay off an existing loan. Subsequent funds depend on FDA approvals for key products, including toripalimab and CHS-201. The loans bear interest at 8.25% plus LIBOR and mature by 2025. This financing is aimed at enhancing the company's balance sheet and maximizing shareholder value amidst expected growth.

Coherus BioSciences (Nasdaq: CHRS) will present at the virtual 40th Annual J.P. Morgan Healthcare Conference on January 10, 2022, at 9 a.m. EST. The audio presentation will be accessible on its investors page. The company focuses on immuno-oncology and has a biologics license application for toripalimab under FDA priority review, with a target action date in April 2022. Additionally, Coherus plans to launch the FDA-approved biosimilar YUSIMRY™ in 2023, with a pending review for CHS-201 targeting August 2022.

Coherus BioSciences has received FDA approval for YUSIMRY (adalimumab-aqvh), a biosimilar to Humira, indicating its potential for treating several inflammatory diseases, including rheumatoid arthritis and Crohn’s disease. This marks Coherus's second FDA-approved product. YUSIMRY, with proven biosimilarity to Humira, presents a significant commercial opportunity, given Humira's $16 billion U.S. sales in 2020. Coherus plans to launch YUSIMRY post-July 1, 2023, aiming to increase patient access and reduce healthcare costs.