Coherus Stock Price, News & Analysis

Coherus BioSciences (CHRS) announced the resignation of CFO Jean-Frédéric Viret, effective March 7, 2021. McDavid Stilwell has been appointed as the new CFO. Viret's contributions were acknowledged by CEO Denny Lanfear, who expressed excitement about Stilwell's extensive experience in finance and corporate strategy. Stilwell aims to help the company achieve its strategic and financial goals, focusing on enhancing patient access to medicines while improving healthcare system savings. Coherus aims to bolster its immuno-oncology pipeline and continue its biosimilar launches through 2023.

Coherus BioSciences has announced a collaboration with Junshi Biosciences to develop and commercialize toripalimab, an anti-PD-1 antibody, in the U.S. and Canada. Coherus will pay $150 million upfront and has options for two other treatment candidates. The FDA granted breakthrough therapy designation for toripalimab, with the first BLA filing expected this year for nasopharyngeal carcinoma. The deal positions Coherus in a growing market projected to exceed $25 billion by 2025, enhancing its pipeline and growth potential.

Coherus BioSciences, Inc. (Nasdaq: CHRS) granted options to purchase 60,000 shares of common stock to three newly hired non-officer employees, effective January 21, 2021. The options have an exercise price of $17.99, equal to the closing trading price on the grant date. This action falls under the Coherus 2016 Employment Commencement Incentive Plan, aimed at attracting new talent to the company. Coherus is committed to providing high-quality therapeutics and significant healthcare savings.

Coherus BioSciences announced the appointment of Alan C. Mendelson and Mark D. Stolper to its Board of Directors, effective January 5, 2021. Mendelson is a legal expert with extensive experience in the life sciences sector, having held leadership roles at Latham & Watkins LLP. Stolper brings significant financial leadership with over 16 years as CFO of RadNet, Inc. Both appointments are expected to strengthen Coherus’ strategic direction and financial oversight as the company focuses on expanding access to high-quality therapeutic biosimilars.

Coherus BioSciences, Nasdaq: CHRS, will present at the 39th Annual J.P. Morgan Healthcare Conference on January 11, 2021, at 10:50 a.m. EST / 7:50 a.m. PST. The audio presentation can be accessed on the company's investor website. Coherus specializes in commercial-stage biosimilars aimed at enhancing access to impactful therapeutics while delivering healthcare savings.

Coherus BioSciences, Inc. (Nasdaq: CHRS) granted options to purchase 66,000 shares of common stock to five newly hired non-officer employees, effective December 17, 2020. The exercise price is set at $17.78 per share, reflecting the closing price on the grant date. This action was executed under the 2016 Employment Commencement Incentive Plan approved by the company's board. Coherus specializes in developing biosimilars, including UDENYCA® and several other product candidates targeting chronic diseases, aiming to enhance patient access and reduce healthcare costs.

Coherus BioSciences, Inc. (CHRS) announced the grant of stock options for 140,500 shares to 10 newly hired non-officer employees on November 19, 2020. The options have an exercise price of $17.92, matching the closing stock price on the grant date. This issuance is part of the 2016 Employment Commencement Incentive Plan aimed at attracting new talent. Coherus is known for its biosimilars, including UDENYCA® (pegfilgrastim-cbqv) and several candidates in development targeting chronic and life-threatening diseases.

Coherus BioSciences reported a robust third quarter for 2020, with net sales of $113.6 million and net income of $27.9 million or $0.33 per diluted share. Non-GAAP net income stood at $39.7 million, representing $0.47 per diluted share. The company experienced a gross profit margin of 92%. While R&D expenses rose significantly due to preparations for biosimilar filings, cash and cash equivalents increased to $503.4 million. Coherus maintains its guidance for R&D and SG&A expenses at the low end of $285 million to $310 million for 2020.

Coherus BioSciences, Inc. (Nasdaq: CHRS) will release its third quarter 2020 financial results on November 5, 2020, after market close. A conference call will follow at 4:30 p.m. EST to discuss the results and provide business updates. Investors can access the financial results on Coherus' website after the announcement. The company focuses on developing and commercializing biosimilars, including its product UDENYCA® and additional candidates like CHS-1420 and CHS-2020, targeting various chronic diseases.