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Coherus BioSciences, Inc. - CHRS STOCK NEWS

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.

News

Coherus Amends Term Loan Agreement with Pharmakon Advisors, LP

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Coherus BioSciences, Inc. has revised its loan agreement with Pharmakon Advisors, LP, reducing the principal balance to $75 million upon a projected paydown of $175 million in Q2 2024. The revenue covenant has also been reduced to $125 million, and the term loan annual interest expense is expected to be reduced by approximately 70%. This agreement follows the divestiture of the ophthalmology franchise to Sandoz, and the company aims to lower its projected annual interest payments significantly.
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Coherus Announces Agreement to Divest Ophthalmology Franchise to Sandoz in $170 Million Upfront All Cash Deal

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Coherus BioSciences, Inc. (NASDAQ: CHRS) has announced the divestiture of its CIMERLI ophthalmology franchise to Sandoz for $170 million in upfront, all-cash consideration. The transaction aims to allow Coherus to focus on its core therapeutic area, oncology, by reducing debt, interest costs, and overhead costs. The company's oncology assets include the UDENYCA franchise, LOQTORZI, and an immuno-oncology pipeline of next-generation tumor microenvironment oncology drug candidates. The closing is anticipated in the first half of 2024, subject to certain closing conditions and approvals.
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Coherus Presents Positive Phase 2 Clinical Data on Casdozokitug, a First-in-Class IL-27-Targeted Antibody, at the 2024 ASCO GI Cancers Symposium

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Coherus BioSciences, Inc. presents promising data from the lead-in portion of the Phase 2 clinical trial evaluating casdozokitug in combination with atezolizumab and bevacizumab for the treatment of liver cancer. The data demonstrates a 38% objective response rate, including three complete responses, and supports continued evaluation of casdozokitug with VEGF and PD-(L)1 blockade in HCC.
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INOVIO and Coherus Announce Clinical Collaboration to Advance Development of INO-3112 in Combination with LOQTORZI™ (toripalimab-tpzi)

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INOVIO (INO) and Coherus BioSciences (CHRS) to evaluate combination therapy in Phase 3 trial for patients with locoregionally advanced, high-risk, HPV16/18-positive head and neck cancer
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Coherus BioSciences Management to Present at the 42nd Annual J.P. Morgan Healthcare Conference

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Coherus BioSciences, Inc. (Nasdaq: CHRS) to Present at 42nd Annual J.P. Morgan Healthcare Conference
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Coherus Announces U.S. Launch of LOQTORZI™

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Coherus BioSciences, Inc. (CHRS) launches LOQTORZI, the first and only FDA-approved treatment for NPC in all lines of therapy. LOQTORZI is indicated in combination with chemotherapy for 1st line treatment and as monotherapy for patients with disease progression on or after platinum containing chemotherapy, irrespective of PD-L1 status. The drug is now available for purchase through select specialty distributors in the United States. LOQTORZI has demonstrated impressive clinical benefits, including progression-free survival (PFS) and overall survival (OS), offering new hope for extended survival to patients with recurrent or metastatic nasopharyngeal carcinoma (NPC).
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Coherus Announces FDA Approval of UDENYCA ONBODY™, a Novel and Proprietary State-of-the-Art Delivery System for pegfilgrastim-cbqv

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Coherus BioSciences, Inc. (Nasdaq: CHRS) announced FDA approval of UDENYCA ONBODY, an on-body injector for pegfilgrastim, with a unique retractable needle mechanism and five-minute delivery time. The device is designed to maximize safety and comfort for cancer patients receiving pegfilgrastim, offering a novel administration option for patients and physicians.
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Coherus BioSciences Announces New Employment Inducement Grants

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Coherus BioSciences, Inc. (Nasdaq: CHRS) granted options to purchase 192,000 shares of common stock to five newly hired employees. One executive was granted an option to purchase 150,000 shares, and four non-officer employees were granted options to purchase 42,000 shares. The options were granted under the 2016 Employment Commencement Incentive Plan approved by the Company's board of directors.
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Coherus Announces Updated NCCN Clinical Practice Guidelines Positioning LOQTORZI™ (toripalimab-tpzi) as Preferred Category 1 Regimen for First-Line Treatment of Cancer of the Nasopharynx

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Coherus BioSciences, ticker symbol CHRS, announced that LOQTORZI is recommended as the only Preferred Category 1 treatment option in first-line treatment for adults with metastatic or recurrent locally advanced NPC in combination with chemotherapy, and as the only preferred regimen in subsequent lines of therapy. LOQTORZI is the first and only FDA-approved treatment for recurrent or metastatic NPC in all lines of therapy.
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Coherus BioSciences Announces CFO Transition Plans

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Coherus BioSciences, Inc. (CHRS) announced the resignation of Chief Financial Officer McDavid Stilwell, with his last day of employment set for December 31, 2023. The company will appoint an interim Principal Financial Officer while searching for a new CFO. Coherus aims to achieve its 2024 goals and beyond, with a focus on new product launches and immuno-oncology pipeline.
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FAQ

What is the current stock price of Coherus BioSciences (CHRS)?

The current stock price of Coherus BioSciences (CHRS) is $1.09 as of November 22, 2024.

What is the market cap of Coherus BioSciences (CHRS)?

The market cap of Coherus BioSciences (CHRS) is approximately 124.4M.

What does Coherus BioSciences specialize in?

Coherus BioSciences specializes in developing high-quality biosimilar therapeutics and innovative immuno-oncology therapies to treat chronic and life-threatening diseases.

Where is Coherus BioSciences headquartered?

Coherus BioSciences is headquartered in the San Francisco Bay Area.

What are some of Coherus' FDA-approved products?

Coherus markets UDENYCA® (a biosimilar to Neulasta®) and YUSIMRY® (a biosimilar to Humira®), along with LOQTORZI™ (toripalimab-tpzi), a PD-1 inhibitor.

What recent transactions has Coherus BioSciences completed?

Coherus recently sold its CIMERLI® ophthalmology franchise to Sandoz, Inc. for $170 million.

How does Coherus BioSciences fund its immuno-oncology research?

Coherus leverages revenue generated from its diversified portfolio of FDA-approved biosimilars to fund its immuno-oncology research.

What is the significance of Coherus' partnership with the Cancer Research Institute?

The Cancer Research Institute has selected LOQTORZI for studies on drug-resistant cancers, highlighting the potential of Coherus' immuno-oncology treatments to advance patient care.

Which markets do Coherus' partnerships cover?

Coherus has commercialization partnerships with global pharmaceutical companies in Europe, Asia, and Latin America.

What recent achievements has Coherus made in its clinical pipeline?

Coherus presented promising preclinical data for CHS-1000 at the 2024 AACR Annual Meeting, demonstrating its potential to reverse tumor immunosuppression.

Who are the key figures in Coherus BioSciences' leadership?

Coherus is led by a team of industry veterans with decades of experience in pioneering biologics companies, including Chairman and CEO Denny Lanfear.

What is the focus of Coherus' CHS-114 clinical trials?

CHS-114, an anti-CCR8 antibody, is being evaluated in Phase 1 trials for its ability to selectively deplete tumor-resident regulatory T cells, enhancing anti-tumor immune response.

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Coherus BioSciences, Inc.

Nasdaq:CHRS

CHRS Rankings

#4227 Ranked by Market Cap
N/A Ranked by Dividends

CHRS Stock Data

124.43M
110.58M
1.39%
70.1%
27.35%
Biotechnology
Biological Products, (no Disgnostic Substances)
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United States of America
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