Welcome to our dedicated page for Coherus BioSciences news (Ticker: CHRS), a resource for investors and traders seeking the latest updates and insights on Coherus BioSciences stock.
Coherus BioSciences, Inc. (NASDAQ: CHRS) is a leading commercial-stage biopharmaceutical company dedicated to improving patient access to high-quality, life-changing biologic medicines. Established in 2010 and headquartered in the San Francisco Bay Area, Coherus specializes in developing biosimilars and innovative immuno-oncology therapies to treat various chronic and life-threatening diseases.
Coherus' core business revolves around providing biosimilar therapeutics that are designed to replace existing branded biologics, thereby reducing healthcare costs. The company's biosimilar portfolio includes FDA-approved products like UDENYCA® (a biosimilar to Neulasta®) and YUSIMRY® (a biosimilar to Humira®), which is set to launch in the US in 2023. These products help manage conditions such as cancer and autoimmune diseases, expanding patient access to essential treatments.
Recently, Coherus completed the divestiture of its ophthalmology franchise, CIMERLI®, to Sandoz, Inc. for $170 million. This move allows Coherus to focus more intently on its immuno-oncology pipeline, which includes the promotion of LOQTORZI™ (toripalimab-tpzi), a next-generation PD-1 inhibitor approved for nasopharyngeal carcinoma. The company's strategy includes advancing its novel immuno-oncology candidates like CHS-114 and CHS-1000, which are in various stages of clinical development targeting solid tumors.
Financially, Coherus is leveraging the revenue from its biosimilar products to fund its immuno-oncology research and development. The company collaborates with global pharmaceutical partners across Europe, Asia, and Latin America, enhancing its market presence and resource capabilities.
Key updates include the successful preclinical data presentation for CHS-1000 at the 2024 AACR Annual Meeting, showcasing its potential to reverse immunosuppression in the tumor microenvironment. Moreover, the Cancer Research Institute (CRI) has selected LOQTORZI for combination studies to explore its efficacy in drug-resistant cancers, further solidifying Coherus' commitment to pioneering cancer therapy advancements.
Led by a team of seasoned industry veterans, Coherus BioSciences aims to become a global leader in the biosimilar and immuno-oncology markets, continually striving to develop therapies that improve patient outcomes and broaden access to high-quality medical treatments.
Coherus BioSciences has appointed Paul Reider as Chief Commercial Officer, enhancing its leadership as it prepares to launch up to five new products in the next 18 months. Reider brings 30 years of biopharmaceutical experience, including significant roles in marketing and sales at Amgen, Puma Biotechnology, and Ipsen. His expertise includes launching specialty brands and managing blockbuster oncology drugs. Coherus aims to expand its immuno-oncology franchise, backed by the upcoming FDA review of toripalimab, with a target action date of April 2022.
Coherus BioSciences announced on February 14, 2022, the granting of stock options for 236,500 shares to new employees at an exercise price of $12.44. This includes a significant grant of 45,000 shares to a Vice President and 191,500 shares to other non-officer employees. This move aims to incentivize talent under the 2016 Employment Commencement Incentive Plan. Coherus is advancing its immuno-oncology portfolio and has a biologics license application for toripalimab under FDA review, targeting an April 2022 decision date.
Coherus BioSciences (Nasdaq: CHRS) will release its Q4 and full-year 2021 financial results on February 17, 2022, after market close. A conference call and webcast will follow at 5 p.m. ET to discuss these results and provide a business update. Investors can access the results on Coherus' website following the announcement. Interested parties are advised to dial in 15 minutes early for the call. The contact for investor relations is Cheston Turbyfill, reachable at IR@coherus.com.
Coherus BioSciences (Nasdaq: CHRS) announces the appointment of Lee N. Newcomer, M.D. to its Board of Directors, effective February 2, 2022, following the resignation of Jim Healy. With extensive experience in oncology and healthcare, Dr. Newcomer's expertise is expected to enhance Coherus' strategic direction, particularly for the upcoming launch of YUSIMRY™ in the U.S. adalimumab market and its immuno-oncology efforts, including toripalimab. The company aims to build a leading franchise with innovative therapies while continuing to generate revenue from its biosimilars.
Coherus BioSciences (CHRS) and Junshi Biosciences have expanded their immuno-oncology collaboration to evaluate the combination of toripalimab and JS006, a novel TIGIT-targeted antibody, in clinical trials across various tumor types. Coherus will pay Junshi $35 million upfront, up to $255 million in milestones, and an 18% royalty on net revenue. This partnership aims to enhance checkpoint inhibitor efficacy in patients with advanced solid tumors. The FDA has granted priority review for toripalimab's biologics license application, advancing the potential treatment landscape for cancers like nasopharyngeal carcinoma.
Coherus BioSciences (CHRS) announced a new loan agreement with Pharmakon Advisors, providing up to $300 million to support its product launches in 2022 and 2023. The facility consists of four tranches, with the first $100 million already drawn to pay off an existing loan. Subsequent funds depend on FDA approvals for key products, including toripalimab and CHS-201. The loans bear interest at 8.25% plus LIBOR and mature by 2025. This financing is aimed at enhancing the company's balance sheet and maximizing shareholder value amidst expected growth.
Coherus BioSciences (Nasdaq: CHRS) will present at the virtual 40th Annual J.P. Morgan Healthcare Conference on January 10, 2022, at 9 a.m. EST. The audio presentation will be accessible on its investors page. The company focuses on immuno-oncology and has a biologics license application for toripalimab under FDA priority review, with a target action date in April 2022. Additionally, Coherus plans to launch the FDA-approved biosimilar YUSIMRY™ in 2023, with a pending review for CHS-201 targeting August 2022.
Coherus BioSciences has received FDA approval for YUSIMRY (adalimumab-aqvh), a biosimilar to Humira, indicating its potential for treating several inflammatory diseases, including rheumatoid arthritis and Crohn’s disease. This marks Coherus's second FDA-approved product. YUSIMRY, with proven biosimilarity to Humira, presents a significant commercial opportunity, given Humira's $16 billion U.S. sales in 2020. Coherus plans to launch YUSIMRY post-July 1, 2023, aiming to increase patient access and reduce healthcare costs.
Coherus BioSciences (Nasdaq: CHRS) has appointed Theresa LaVallee, Ph.D., as the new Chief Development Officer, effective immediately. Dr. LaVallee, a seasoned executive with over 25 years in drug discovery and development, will oversee regulatory matters and product development. She aims to enhance the company’s focus on immuno-oncology, particularly with its lead asset, toripalimab, a PD-1 inhibitor. Her extensive background includes roles at the Parker Institute for Cancer Immunotherapy and AstraZeneca, positioning her to significantly contribute to Coherus' growth in immuno-oncology.
Coherus BioSciences (CHRS) announced on December 16, 2021, that it granted stock options for 367,000 shares to new employees, with an exercise price of $17.06. The grants included 200,000 shares for a Chief level executive, 45,000 shares for a Vice President, and 122,000 shares for other non-officer employees. This compensation strategy is part of the 2016 Employment Commencement Incentive Plan, aimed at attracting new talent.
Coherus strives to enhance access to affordable medicines while delivering savings to the healthcare system.
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