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.
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.
Coherus Biosciences (CHRS) and Junshi Biosciences have initiated a rolling submission of the Biologics License Application (BLA) for toripalimab to the FDA for treating recurrent or metastatic nasopharyngeal carcinoma (NPC).
The FDA granted Breakthrough Therapy Designation for toripalimab, indicating a potential significant improvement over existing therapies. Coherus will oversee all commercialization activities in the U.S. and Canada following regulatory clearance. The companies also plan to file additional BLA supplements for various cancers in the next three years.
Coherus BioSciences (Nasdaq: CHRS) announced their participation in two upcoming investor conferences in March 2021. The 41st Annual Cowen Healthcare Conference will take place on March 1 at 4 p.m. ET, followed by the Barclays Global Healthcare Conference on March 9 at 1:15 p.m. ET. Investors can access the audio of these presentations on the Coherus BioSciences website. The company focuses on providing cost-effective medicines to improve patient care and reduce healthcare costs.
Coherus BioSciences reported 2020 product revenues of $476 million, with $110 million in Q4. Strong performance of UDENYCA® helped maintain a 21% market share in the pegfilgrastim category. The company completed a successful BLA acceptance for CHS-1420 and plans to file FYB201's BLA mid-2021. The collaboration with Junshi Biosciences aims to enhance their immuno-oncology portfolio, with the first BLA filing for toripalimab expected in 2021. However, lower UDENYCA® net sales are anticipated in 2021 due to COVID-19 impacts.
Coherus BioSciences (CHRS) will announce its fourth quarter and full year 2020 financial results on February 24, 2021, after market close. The company will host an investor conference call at 4:30 p.m. ET to discuss its financial performance and corporate updates. Interested participants can join via telephone or webcast. Coherus is focused on providing cost-effective medicines to improve patient access and reduce healthcare costs.
Coherus BioSciences (CHRS) announced that the FDA has accepted its Biologics License Application for CHS-1420, a Humira® biosimilar, with a decision expected by December 2021. If approved, CHS-1420 could launch in the U.S. on or after July 1, 2023. The Humira® market is projected to exceed $18 billion in annual sales by then, indicating a significant opportunity for Coherus. The company intends to leverage these revenues to expand its biosimilar and immuno-oncology portfolios.
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