Coherus Bioscien Stock Price, News & Analysis

Coherus BioSciences (NASDAQ: CHRS) has announced it will release its third quarter 2024 financial results after market close on Wednesday, November 6, 2024. The company's management will host a conference call and webcast at 5:00 p.m. ET on the same day to discuss the results and provide a business update. Investors can access the conference call through pre-registration and join the webcast through the company's investor relations website. The financial results press release and related materials will be available before the call on the Coherus investor website.

Coherus BioSciences (NASDAQ: CHRS) reported Q2 2024 financial results and business updates. Key highlights:

• Net revenue of $65.0 million in Q2 2024
• UDENYCA net sales increased 60% year-over-year to $50.9 million
• LOQTORZI net sales of $3.8 million since January 2024 launch
• Phase 1 study of CHS-114 showed promising results in solid tumors
• Appointed Bryan McMichael as new CFO
• Divested YUSIMRY franchise for $40 million
• Net loss of $12.9 million or $(0.11) per diluted share in Q2 2024
• Cash and investments of $159.2 million as of June 30, 2024
• Projected 2024 R&D and SG&A expenses of $250-$265 million

Coherus BioSciences, Inc. (NASDAQ: CHRS) has announced that it will release its second quarter 2024 financial results after market close on Thursday, August 8, 2024. The company's management team will host a conference call and webcast at 5:00 p.m. EDT on the same day to discuss the results and provide a general business update.

Investors and interested parties can pre-register for the conference call to receive dial-in information and a personal PIN. A live webcast will be available, and a replay will be accessible on the company's investor relations website. The press release containing the financial results and related materials will be available on the Coherus website before the start of the conference call.

On June 27, 2024, Coherus BioSciences (Nasdaq: CHRS) announced the divestiture of YUSIMRY (adalimumab-aqvh) to Hong Kong King-Friend Industrial Co. (HKF) for $40 million in an all-cash deal. The transaction, completed on June 26, 2024, aligns with Coherus' strategic focus on oncology.

Meitheal Pharmaceuticals, a wholly owned subsidiary of HKF, will continue the commercialization of YUSIMRY in the U.S. Coherus plans to use the proceeds to strengthen its cash position and further its oncology initiatives.

Coherus' oncology portfolio includes LOQTORZI (toripalimab-tpzi), an FDA-approved PD-1 inhibitor, and the UDENYCA (pegfilgrastim-cbqv) franchise with three FDA-approved presentations, along with a clinical-stage immuno-oncology portfolio.

Coherus BioSciences (CHRS) has appointed Rita Karachun, CPA, CGMA, to its Board of Directors, effective May 31, 2024. Karachun, a seasoned financial expert with nearly four decades of experience, previously served as SVP and Global Controller at Merck. At Merck, she managed a global team responsible for the company's accounting and operational aspects. Coherus believes her extensive background in finance, accounting, and operational transformation will significantly benefit the company's strategic direction and pipeline advancement. CEO Denny Lanfear expressed confidence in Karachun's ability to contribute to Coherus's growth and transformation.

Coherus BioSciences (Nasdaq: CHRS) will present at the 2024 Jefferies Global Healthcare Conference on June 6, 2024, at 8:30 a.m. EDT/5:30 a.m. PDT.

Senior management will discuss the company's latest developments and strategies.

The presentation can be accessed via a webcast on the Coherus website, and it will be available for replay until July 7, 2024.

Coherus BioSciences announced preliminary Phase 1 results for CHS-114, an anti-CCR8 antibody, at the 2024 ASCO Annual Meeting. CHS-114 exhibited an acceptable safety profile with no dose-limiting toxicities in heavily pretreated patients with solid tumors. Selective depletion of CCR8+ Tregs was maintained, establishing proof of mechanism. One patient experienced Grade 2 colitis as a serious adverse event. Pharmacokinetic data showed dose proportional exposure and a linear elimination half-life of about 10 days. The results support further evaluation of CHS-114 in combination with toripalimab and other immuno-oncology agents. No objective responses were noted, but a stable disease rate of 47% was observed in 19 evaluable patients.

Coherus BioSciences (Nasdaq: CHRS) has announced that its senior management will present at the TD Cowen 5th Annual Oncology Innovation Virtual Summit. This event, set for May 29, 2024, at 12:00 p.m. EDT, will provide insights ahead of the ASCO and EHA conferences. The presentation will be available via webcast through the Coherus website until June 26, 2024. This offers an opportunity for investors and stakeholders to gain valuable insights from Coherus' management team. For more information, investors can reach out to Jami Taylor, Head of Investor Relations at Coherus.

Coherus BioSciences reported net revenue of $77.1 million in Q1 2024, with significant increases in UDENYCA sales and LOQTORZI launch. The company entered into a partnership for toripalimab development, replaced term loan with new debt, and presented positive clinical data. Despite increased expenses, Coherus showed a strong financial performance, with net income of $102.9 million and cash reserves of $259.8 million.