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 (CHRS) and Junshi Biosciences have announced positive interim results from the Phase 3 clinical trial CHOICE-01, assessing toripalimab plus chemotherapy for advanced non-small cell lung cancer (NSCLC). The interim analysis showed significant improvement in progression-free survival (PFS) compared to chemotherapy alone. The data was presented at the World Conference on Lung Cancer. Further analyses are anticipated later this year, with plans for FDA discussions for a biologics license application for toripalimab in the U.S.
Coherus BioSciences, Nasdaq: CHRS, has announced that its senior management will present at the 23rd Annual H.C. Wainwright Global Investment Conference on September 14, 2021, at 7 a.m. ET. The presentation will be accessible via the investors’ page on Coherus’ website. The company focuses on providing cost-effective medicines and aims to enhance its immuno-oncology franchise, leveraging revenue from its commercial biosimilars. For more details, visit www.coherus.com.
Coherus BioSciences (Nasdaq: CHRS) announced key presentations at upcoming medical conferences. Toripalimab clinical data will be shared on September 13 at the IASLC 2021 World Conference on Lung Cancer and on September 17 at the ESMO Congress 2021. Additionally, a study on pegfilgrastim will be presented at the ASCO Quality Care Symposium on September 25, and clinical data from the CHS-201 program will be highlighted on October 1 at the Retina Society's Annual Meeting. These events showcase Coherus’ commitment to advancing cancer treatment options.
Coherus (Nasdaq: CHRS) and Junshi Biosciences have completed the rolling submission of a Biologics License Application (BLA) to the FDA for toripalimab in combination with chemotherapy and as a monotherapy for nasopharyngeal carcinoma (NPC). The FDA granted Breakthrough Therapy Designation for both treatment options, intended to expedite drug development for severe diseases. Toripalimab has shown significant efficacy in clinical studies and received early approval in China. Coherus plans to file additional BLAs for toripalimab over the next three years.
On August 27, 2021, Coherus BioSciences (Nasdaq: CHRS) announced the grant of stock options totaling 278,000 shares to newly hired employees, effective as of August 26, 2021. The options have an exercise price of $15.82 per share, matching the closing price on the grant date. Among the recipients, two Vice Presidents received options for 45,000 shares each, while an additional 188,000 shares were granted to fifteen non-officer employees. This grant is part of the 2016 Employment Commencement Incentive Plan approved by the board to attract new talent.
Coherus BioSciences (Nasdaq: CHRS) and Junshi Biosciences announced positive interim results from the CHOICE-01 Phase 3 trial evaluating toripalimab plus chemotherapy for advanced non-small cell lung cancer (NSCLC). The interim analysis met its primary endpoint, showing a significant improvement in progression-free survival (PFS) of 8.3 months versus 5.6 months with chemotherapy alone (HR=0.58, p=0.0001). Both squamous and non-squamous NSCLC patients benefited, leading to plans for potential regulatory submissions in the US and China.
Coherus BioSciences (Nasdaq: CHRS) and Junshi Biosciences announced that the FDA granted Breakthrough Therapy Designation for toripalimab combined with chemotherapy for first-line treatment of recurrent or metastatic nasopharyngeal carcinoma (NPC).
The designation will expedite the review process, providing closer guidance from the FDA. A biologics license application (BLA) for this combination and for toripalimab monotherapy for second/third line NPC is expected this quarter.
The designation is backed by positive results from the JUPITER-02 trial, showing significant progression-free survival improvements.
Coherus BioSciences (CHRS) reported Q2 2021 net product revenue of $88 million from UDENYCA®, with a net loss of $29.9 million. The company is advancing its portfolio, including a BLA for toripalimab expected to be submitted soon, alongside submissions for biosimilars CHS-201 and CHS-1420. R&D expenses surged to $54.8 million due to intensified development efforts. Despite a cash balance of $454.4 million, the company anticipates $370M-$400M in total R&D and SG&A expenses for the full year, reflecting high investment in product development and commercialization.
Coherus BioSciences, Inc. (CHRS) will announce its second quarter 2021 financial results on August 5, 2021, after market close. A conference call will be held at 5 p.m. ET to discuss these results and provide a business update. Interested parties can access the conference via a toll-free number or listen to a webcast. Financial results will also be posted on the Coherus website following the announcement. Coherus aims to enhance access to affordable medicines while delivering cost savings to the healthcare system.
Coherus BioSciences has appointed Dr. Ildiko Csiki as Chair of its Scientific Advisory Board, bringing over 20 years of experience in the field of cancer immunotherapies. Under her leadership, the SAB will collaborate with Coherus to enhance its immuno-oncology portfolio, particularly focusing on toripalimab, a PD-1 blocking antibody in development. This appointment is expected to strengthen Coherus' position as it aims for multiple therapeutic indications and registrations through its commercial biosimilar operations.
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