Coherus Oncology, Inc. reports commercial-stage oncology developments centered on LOQTORZI® (toripalimab-tpzi), an approved next-generation PD-1 inhibitor for recurrent or metastatic nasopharyngeal carcinoma. Company updates also cover its antibody immunotherapy pipeline, including tagmokitug, an anti-CCR8 cytolytic antibody, and casdozokitug, an IL-27 antagonistic antibody, across solid-tumor programs such as liver, prostate, head and neck, colorectal, gastric and esophageal cancers.
Recurring news includes financial results, LOQTORZI revenue commentary, clinical-development updates, strategic partnerships, investor-conference presentations, public common-stock offerings, debt reduction and other capital-structure actions tied to the company's transition from biosimilars to innovative oncology.
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.
Coherus BioSciences, Inc. (Nasdaq: CHRS) announced on October 16, 2020, that its compensation committee granted stock options and restricted stock units to newly hired executives. The newly appointed Executive Vice President received an option for 150,000 shares, while a Senior Vice President received options for 100,000 shares. Two Vice Presidents were granted options for 45,000 shares each. Additionally, seven non-officer employees were granted a total of 92,000 shares. All options have an exercise price of $18.09, the closing price on the grant date. Coherus specializes in biosimilar therapeutics.
Coherus BioSciences announced on September 18, 2020, that it granted stock options to new employees, totaling 118,000 shares for non-officer staff and 45,000 shares for a Vice President. The exercise price is set at $19.07, the closing price on the grant date, September 17, 2020. This action is part of the 2016 Employment Commencement Incentive Plan to attract new talent. Coherus specializes in biosimilar therapeutics and has commercialized UDENYCA (pegfilgrastim-cbqv), while advancing several late-stage biosimilar candidates.
On August 19, 2020, Coherus BioSciences (Nasdaq: CHRS) granted stock options amounting to 64,000 shares to seven newly hired non-officer employees. The exercise price for these options was set at $19.85, reflecting the closing price on the grant date. This action was part of the Company's 2016 Employment Commencement Incentive Plan, which aims to attract new talent. Coherus BioSciences focuses on developing and commercializing biosimilar therapeutics, including UDENYCA®, and is advancing several late-stage clinical products in the biosimilar market.