Welcome to our dedicated page for Coherus news (Ticker: CHRS), a resource for investors and traders seeking the latest updates and insights on Coherus stock.
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 (CHRS) announced on June 19, 2020, the grant of stock options to employees as part of its 2016 Employment Commencement Incentive Plan. A total of 93,000 shares were granted to seven new non-officer employees, while an Executive Vice President received options for 125,000 shares, and a Vice President was granted options for 35,000 shares plus 10,000 restricted stock units. All options have a per share exercise price of $16.98, equal to the closing price on the grant date. Coherus is focused on biosimilars, including UDENYCA®, and has several late-stage and early-stage clinical products in development.
Coherus BioSciences (CHRS) reported first-quarter 2020 net sales of $116.2 million, a significant increase from $37.1 million in the previous year. The company achieved a net income of $35.6 million ($0.48 per share) and a non-GAAP net income of $49.8 million ($0.67 per share). The gross profit margin rose to 94%. Cash and equivalents totaled $193.3 million. Coherus entered into a licensing agreement with Innovent for a biosimilar of Avastin, enhancing its oncology pipeline. R&D and SG&A expenses are projected to be $285-$310 million for the fiscal year.
Coherus BioSciences (CHRS) will present at the BofA Securities 2020 Health Care Conference on May 14, 2020, at 1:00 p.m. ET. The presentation will be streamed live on their investor page. Coherus is a biosimilar leader focused on developing therapeutics for chronic diseases while enhancing patient access and reducing costs. The company markets UDENYCA® in the U.S. and is advancing several biosimilars, including CHS-1420, targeting Humira® and others. Visit https://investors.coherus.com for more details.