Coherus BioSciences, Inc. - CHRS STOCK NEWS

Coherus BioSciences (Nasdaq: CHRS) and Junshi Biosciences will host a virtual investor event on June 7, 2021, at 6 p.m. ET. The event will discuss toripalimab clinical data from the 2021 ASCO Annual Meeting, including results from the JUPITER-02 trial for treating nasopharyngeal carcinoma. Key speakers include experts from Junshi Biosciences and Coherus. Participants can join via phone or webcast. An archived version will be available post-event. For more information, visit the Coherus website.

Coherus BioSciences (CHRS) and Junshi Biosciences announced positive results from the Phase 3 JUPITER-02 study, showing that toripalimab combined with chemotherapy significantly improved progression-free survival (PFS) for patients with recurrent or metastatic nasopharyngeal carcinoma (NPC). Median PFS was 11.7 months for the toripalimab group compared to 8.0 months for chemotherapy alone. Additionally, a 40% reduction in risk of death was noted, although overall survival data is not yet mature. The results will be presented at the 2021 ASCO plenary session on June 6, 2021.

Coherus BioSciences, a commercial stage biopharmaceutical company, announced that senior management will present at the Bank of America Health Care Conference on May 12, 2021, at 1:15 p.m. EST. The audio of the presentation will be available on their investors page. Coherus is focused on increasing access to cost-effective medicines that can significantly impact patients’ lives while delivering savings to the health care system. For more details, visit their website.

Coherus BioSciences reported a GAAP net loss of $173 million for Q1 2021, largely due to a $145 million upfront payment to Junshi Biosciences for toripalimab rights. UDENYCA® net sales reached $83 million, maintaining a 20% market share. The company initiated the first BLA submission for toripalimab with positive interim data from pivotal trials. Coherus expects four candidates to gain approval in the U.S. within two years, enhancing revenue potential. The company had $400 million in cash as of March 31, 2021.

On April 30, 2021, Coherus BioSciences (CHRS) announced the grant of stock options to newly hired employees totaling 483,000 shares. The options have an exercise price of $14.76, equal to the closing stock price on the grant date, April 28, 2021. Notably, a new Executive Vice President received an option for 125,000 shares, while two Senior Vice Presidents each received 100,000 shares. This issuance aligns with the Coherus 2016 Employment Commencement Incentive Plan aimed at attracting talent.

Coherus focuses on providing accessible biopharmaceuticals to enhance patient care.

Coherus BioSciences, Inc. (Nasdaq: CHRS) will announce its first quarter 2021 financial results on May 6, 2021, after market close. A conference call will follow at 4:30 p.m. ET, providing insights into the financial outcomes and a general business update. The financial results will be available on the Coherus website post-release. The company aims to enhance access to affordable medicines, significantly impacting patient lives and healthcare costs. Investors can participate via dial-in or webcast.

Coherus BioSciences (Nasdaq: CHRS) is set to present findings on toripalimab, an anti-PD-1 antibody, at the ASCO 2021 plenary session on June 6, 2021. The data stems from the pivotal JUPITER-02 Phase 3 clinical trial focused on treating recurrent or metastatic nasopharyngeal carcinoma. This session highlights significant studies, addressing a common cancer with limited treatment options. Additionally, multiple other abstracts related to toripalimab have been accepted for further presentation.

Coherus BioSciences has received significant interim results from the JUPITER-06 clinical trial, indicating that the anti-PD-1 monoclonal antibody toripalimab, when combined with paclitaxel/cisplatin, significantly improves progression-free survival and overall survival for patients with advanced esophageal squamous cell carcinoma (ESCC). This randomized phase 3 trial enrolled 514 patients, and the full data release is anticipated later this year. Coherus is also working on filing several Biologics License Applications for toripalimab.

Coherus BioSciences (Nasdaq: CHRS) has completed a stock sale to Junshi Biosciences, raising $50 million from the sale of 2,491,998 shares priced at $20.06 per share. This transaction follows a collaboration agreement for the development of toripalimab, a PD-1 antibody, in the U.S. and Canada. Coherus paid $150 million upfront for exclusive rights and will also pay royalties and potential milestone payments totaling up to $380 million. The partnership aims to expedite the introduction of toripalimab for treating recurrent nasopharyngeal carcinoma.