Coherus Bioscien Stock Price, News & Analysis

Coherus BioSciences reported a GAAP net loss of $173 million for Q1 2021, largely due to a $145 million upfront payment to Junshi Biosciences for toripalimab rights. UDENYCA® net sales reached $83 million, maintaining a 20% market share. The company initiated the first BLA submission for toripalimab with positive interim data from pivotal trials. Coherus expects four candidates to gain approval in the U.S. within two years, enhancing revenue potential. The company had $400 million in cash as of March 31, 2021.

On April 30, 2021, Coherus BioSciences (CHRS) announced the grant of stock options to newly hired employees totaling 483,000 shares. The options have an exercise price of $14.76, equal to the closing stock price on the grant date, April 28, 2021. Notably, a new Executive Vice President received an option for 125,000 shares, while two Senior Vice Presidents each received 100,000 shares. This issuance aligns with the Coherus 2016 Employment Commencement Incentive Plan aimed at attracting talent.

Coherus focuses on providing accessible biopharmaceuticals to enhance patient care.

Coherus BioSciences, Inc. (Nasdaq: CHRS) will announce its first quarter 2021 financial results on May 6, 2021, after market close. A conference call will follow at 4:30 p.m. ET, providing insights into the financial outcomes and a general business update. The financial results will be available on the Coherus website post-release. The company aims to enhance access to affordable medicines, significantly impacting patient lives and healthcare costs. Investors can participate via dial-in or webcast.

Coherus BioSciences (Nasdaq: CHRS) is set to present findings on toripalimab, an anti-PD-1 antibody, at the ASCO 2021 plenary session on June 6, 2021. The data stems from the pivotal JUPITER-02 Phase 3 clinical trial focused on treating recurrent or metastatic nasopharyngeal carcinoma. This session highlights significant studies, addressing a common cancer with limited treatment options. Additionally, multiple other abstracts related to toripalimab have been accepted for further presentation.

Coherus BioSciences has received significant interim results from the JUPITER-06 clinical trial, indicating that the anti-PD-1 monoclonal antibody toripalimab, when combined with paclitaxel/cisplatin, significantly improves progression-free survival and overall survival for patients with advanced esophageal squamous cell carcinoma (ESCC). This randomized phase 3 trial enrolled 514 patients, and the full data release is anticipated later this year. Coherus is also working on filing several Biologics License Applications for toripalimab.

Coherus BioSciences (Nasdaq: CHRS) has completed a stock sale to Junshi Biosciences, raising $50 million from the sale of 2,491,998 shares priced at $20.06 per share. This transaction follows a collaboration agreement for the development of toripalimab, a PD-1 antibody, in the U.S. and Canada. Coherus paid $150 million upfront for exclusive rights and will also pay royalties and potential milestone payments totaling up to $380 million. The partnership aims to expedite the introduction of toripalimab for treating recurrent nasopharyngeal carcinoma.

Coherus Biosciences (CHRS) and Junshi Biosciences have initiated a rolling submission of the Biologics License Application (BLA) for toripalimab to the FDA for treating recurrent or metastatic nasopharyngeal carcinoma (NPC).

The FDA granted Breakthrough Therapy Designation for toripalimab, indicating a potential significant improvement over existing therapies. Coherus will oversee all commercialization activities in the U.S. and Canada following regulatory clearance. The companies also plan to file additional BLA supplements for various cancers in the next three years.

Coherus BioSciences (Nasdaq: CHRS) announced their participation in two upcoming investor conferences in March 2021. The 41^st Annual Cowen Healthcare Conference will take place on March 1 at 4 p.m. ET, followed by the Barclays Global Healthcare Conference on March 9 at 1:15 p.m. ET. Investors can access the audio of these presentations on the Coherus BioSciences website. The company focuses on providing cost-effective medicines to improve patient care and reduce healthcare costs.

Coherus BioSciences reported 2020 product revenues of $476 million, with $110 million in Q4. Strong performance of UDENYCA® helped maintain a 21% market share in the pegfilgrastim category. The company completed a successful BLA acceptance for CHS-1420 and plans to file FYB201's BLA mid-2021. The collaboration with Junshi Biosciences aims to enhance their immuno-oncology portfolio, with the first BLA filing for toripalimab expected in 2021. However, lower UDENYCA® net sales are anticipated in 2021 due to COVID-19 impacts.