Core Insights - Coherus BioSciences has completed its strategic transformation to focus on innovative oncology, with significant advancements in its product pipeline and financial performance [1][3][24] Recent Business Highlights - The company reported positive Phase 1b data for CHS-114, an anti-CCR8 antibody, at the 2025 AACR Annual Meeting, indicating potential for treating various solid tumors [1][3] - LOQTORZI, a next-generation PD-1 inhibitor, generated net revenues of $7.3 million in Q1 2025, with patient demand increasing over 15% compared to Q4 2024 [5][11] - The divestiture of UDENYCA was completed in April 2025, allowing the company to concentrate on its oncology portfolio [3][10] Financial Performance - Net revenue from continuing operations for Q1 2025 was $7.6 million, up from $2.3 million in Q1 2024, primarily driven by higher LOQTORZI sales [11] - The company reported a net loss from continuing operations of $47.4 million, or $(0.41) per share, compared to a loss of $68.0 million, or $(0.60) per share, in the same period last year [17][18] - Cash and cash equivalents decreased to $82.4 million as of March 31, 2025, down from $126.0 million at the end of 2024 [20] Pipeline Development - Ongoing studies for CHS-114 include Phase 1b trials in second-line gastric cancer and head and neck squamous cell carcinoma (HNSCC), with data readouts expected in 2026 [1][13] - Enrollment is ongoing in a Phase 2 trial of casdozokitug in combination with toripalimab and bevacizumab for first-line hepatocellular carcinoma (HCC), with initial data expected in the first half of 2026 [1][13] Strategic Focus - The company aims to maximize LOQTORZI revenues and advance its immuno-oncology candidates, including CHS-114 and casdozokitug, through strategic partnerships and label expansions [3][6][24] - Coherus is positioned to leverage its innovative oncology pipeline to enhance treatment options for cancer patients and drive future growth [3][25]

Coherus BioSciences (CHRS) 2025 Conference May 08, 2025 09:00 AM ET Speaker0 So welcome. Good morning. This is the second day of the Citizens Life Science Conference, and it's my pleasure to introduce the next company, Coherus Biosciences. Here for Coherus is, Denny Lemfier, CEO, and Theresa, Lavelle, chief scientific officer and development officer. New title today. Welcome, guys. Appreciate you coming. So I never know exactly who's in the audience or who's listening to, the webcast, and so would love to, ...

REDWOOD CITY, Calif., May 05, 2025 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus,” NASDAQ: CHRS) today announced that its first quarter 2025 financial results will be released after market close on Monday, May 12, 2025. Starting at 5:00 p.m. EDT on May 12, 2025, Coherus’ management team will host a conference call and webcast to discuss financial results and provide a general business update. A webcast replay will be available on https://investors.coherus.com following the conclusion of the live c ...

Core Insights - Coherus BioSciences, Inc. will be webcasting its participation in several upcoming conferences, providing access to presentations via its Investor Events section on the company website [1][2] - The company is a fully integrated commercial-stage innovative oncology firm with an approved PD-1 inhibitor, LOQTORZI®, and a promising pipeline of mid-stage clinical candidates targeting various cancers [4] - Coherus' immuno-oncology pipeline includes multiple antibody immunotherapy candidates aimed at enhancing immune responses against tumors, with ongoing studies for novel treatments [5] Company Overview - Coherus is focused on growing sales of LOQTORZI in nasopharyngeal carcinoma and advancing new indications in combination with pipeline candidates and partners [4] - The company has a robust immuno-oncology pipeline, including Casdozokitug, an IL-27 antagonistic antibody, and CHS-114, a selective anti-CCR8 antibody, both in various stages of clinical trials [5] Upcoming Events - Coherus will participate in the Citizens Life Science Conference on May 8, 2025, at 9:00 a.m. EDT [6] - The company will also present at the HCW BioConnect @ Nasdaq NYC 2025 on May 20, 2025, at 12:00 p.m. EDT [6] - Additional participation includes the TD Cowen 6th Annual Oncology Innovation Summit on May 27, 2025, and the Jefferies Global Healthcare Conference on June 4, 2025 [6]

– CHS-114 demonstrates clinical efficacy and proof of mechanism in HNSCC in combination with toripalimab – – Confirmed partial response in heavily pretreated PD-1 refractory patient supports expansion in HNSCC and gastric cancer in combination with toripalimab – – A second-line Phase 1 dose optimization study in HNSCC and gastric cancer is ongoing; results expected in the first half of 2026– – Coherus to host investor and analyst call with study investigator, Dr. Douglas Adkins, Washington University, today ...

Coherus BioSciences (NASDAQ: CHRS ) has shed its marketed biosimilar drugs, now only markets the branded drug Loqtorzi (toripalimab), and is focusing on development of its clinical pipeline. When I last covered the name in May 2024, I rated CHRS aScientist and trader of biotech stock. Focus on trading around events such as trial results and NDA/BLA approvals. Also covering companies in industries regulated by the FDA. Articles present my opinion on stocks, but don't constitute investment advice.Analyst’s Di ...

Core Insights - Coherus BioSciences has completed the divestiture of its UDENYCA franchise to Intas Pharmaceuticals for a deal valued at up to $558.4 million, receiving an upfront payment of $483.4 million [1][3] - The company now has a post-close cash balance of $250 million, extending its cash runway into 2027, which will support the development of its oncology pipeline [1][2] - Coherus is focusing on its innovative oncology programs, particularly the growth of LOQTORZI revenues and advancing its immuno-oncology candidates [2][5] Transaction Details - The transaction closed on April 11, 2025, with Coherus receiving $483.4 million upfront, including $118.4 million for UDENYCA inventory, and potential milestone payments of up to $75 million based on net sales [1][3] - Intas received assets related to the UDENYCA franchise, including pre-filled syringes and autoinjectors, and assumed certain liabilities [3] Company Overview - Coherus is a commercial-stage innovative oncology company with an approved PD-1 inhibitor, LOQTORZI, and a promising pipeline targeting various cancers [5] - The company aims to grow LOQTORZI sales in nasopharyngeal carcinoma and develop new indications in combination with its pipeline candidates [5] Pipeline Information - Coherus' immuno-oncology pipeline includes multiple antibody candidates, such as Casdozokitug, an IL-27 antagonist, and CHS-114, a selective anti-CCR8 antibody, currently in various clinical studies [6][9]

– Remaining $60 Million of outstanding convertible notes to be repurchased post-close of pending UDENYCA divestiture – REDWOOD CITY, Calif., April 01, 2025 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (("Coherus" or the "Company, NASDAQ:CHRS) announced today that it has entered into privately negotiated transactions (the "Repurchases") with certain holders (the "Holders") of its 1.500% Convertible Senior Subordinated Notes due 2026 (the "Convertible Notes"), pursuant to which the Company agreed to repurcha ...

Core Insights - Coherus BioSciences announced interim data from its Phase 1 clinical trial of CHS-114, a selective anti-CCR8 antibody, which will be presented at the 2025 AACR Annual Meeting [1][2] - The trial evaluates CHS-114 both as a monotherapy and in combination with toripalimab for patients with recurrent/metastatic head and neck squamous cell carcinoma (HNSCC) [1][2] Company Overview - Coherus BioSciences is a commercial-stage innovative oncology company with an approved next-generation PD-1 inhibitor, LOQTORZI, and a growing revenue stream [4] - The company is focused on expanding the use of LOQTORZI in nasopharyngeal carcinoma and developing new indications in combination with its pipeline candidates [4] Clinical Trial Details - The Phase 1 study (NCT05635643) is designed to optimize the dosing of CHS-114 and assess its safety in advanced solid tumors, including HNSCC [2][3] - The study includes multiple cohorts, with Cohort 1a enrolling 20 patients and evaluating various doses of CHS-114, while Cohort 1b focuses on HNSCC patients with paired tumor biopsies [2] Product Information - CHS-114 is an afucosylated, cytolytic CCR8 monoclonal antibody that targets CCR8+ Tregs in the tumor microenvironment, aiming to enhance the immune response against tumors [3] - Preclinical studies have shown that CHS-114 can reduce tumor growth and improve antitumor activity when combined with anti-PD-1 treatment [3] Pipeline and Future Directions - Coherus has a robust immuno-oncology pipeline, including candidates like casdozokitug, which is being evaluated in multiple clinical studies [5] - The company is also planning to divest its UDENYCA franchise, with the transaction expected to close in early to mid-2025 [6]

Sales and Revenue - UDENYCA Sale to Intas for $483.4 million, including $118.4 million in product inventory, with potential earnout payments of $75 million based on sales thresholds [491] - Total net revenues for the company were $267.0 million in 2024, compared to $257.2 million in 2023, reflecting a growth of approximately 3.1% [519] - Total net revenue for 2024 was $266.96 million, an increase of $9.72 million compared to $257.24 million in 2023 [534] - UDENYCA net revenue increased by $78.89 million to $205.95 million, primarily due to increased market share from the launch of UDENYCA ONBODY [535] - CIMERLI revenue decreased by $98.31 million to $27.08 million due to its divestiture in March 2024 [534] - The company anticipates an increase in LOQTORZI's net product revenue in 2025 compared to 2024 [536] - The company reported a net income of $28.51 million in 2024, a significant recovery from a net loss of $237.89 million in 2023 [607] - Basic and diluted net income per share improved to $0.25 in 2024, compared to a loss of $2.53 per share in 2023 [604] - Comprehensive income for 2024 was $28.48 million, compared to a comprehensive loss of $237.89 million in 2023 [607] Clinical Developments - LOQTORZI approved by the FDA for first-line treatment of metastatic NPC, launched in the U.S. on January 2, 2024 [492] - Casdozokitug, targeting IL-27, is in three ongoing clinical studies, including a Phase 1/2 study in advanced solid tumors [493] - CHS-114, targeting CCR8, is enrolling patients in a clinical trial and plans to initiate additional studies in 2025 [494] - LOQTORZI is being evaluated in multiple clinical studies in collaboration with partners, including Junshi Biosciences [507] - The company plans to initiate a Phase 1b clinical study of CHS-114 in combination with toripalimab in advanced solid tumors in Q1 2025 [619] Financial Performance - Research and development expenses totaled $93.3 million in 2024, down from $109.4 million in 2023, indicating a reduction of approximately 14.7% [525] - Selling, general and administrative expenses decreased by $24.28 million to $167.74 million, primarily due to lower headcount and operating costs [541] - Interest expense decreased by $13.38 million to $27.16 million, mainly due to the payoff of $250 million in senior secured term loans [543] - Total costs and expenses decreased to $378.63 million in 2024 from $460.44 million in 2023, representing a 17.8% reduction [604] - The company achieved a gain on sale transactions of $176.59 million in 2024, which was not present in 2023 [604] Asset Management - Cash used in operating activities was $20.4 million in 2024, a significant improvement compared to $174.9 million in 2023 [566][568] - Cash provided by investing activities in 2024 was $230.3 million, mainly from the CIMERLI Sale ($187.8 million) and YUSIMRY Sale ($40.0 million) [569] - The company’s cash, cash equivalents, and restricted cash at the end of 2024 totaled $126.3 million, up from $103.3 million at the end of 2023 [626] - The company recorded interest income of $4.5 million, $2.8 million, and $1.9 million for the years 2024, 2023, and 2022, respectively [630] Liabilities and Obligations - Total financial liabilities decreased to $293.67 million in 2024 from $473.37 million in 2023, primarily due to the repayment of the 2027 Term Loans [551] - The company has an obligation to pay up to $380.0 million in milestone payments to Junshi Biosciences for LOQTORZI, of which $25.0 million has already been paid [516] - The company has contingent milestone obligations totaling $355.0 million related to LOQTORZI, with no other milestones accrued as of December 31, 2024 [559] - Non-cancelable purchase commitments as of December 31, 2024, were $86.5 million, primarily expected to transfer to the Intas Parties upon closing of the UDENYCA Sale [564] Inventory and Production - UDENYCA experienced a temporary supply interruption due to production delays, with resumed production in November 2024 [503] - Inventory write-downs amounted to $14.1 million in 2024, $52.6 million in 2023, and $26.0 million in 2022, primarily due to slow-moving inventory and competitive pressures [639] - The company capitalized inventory costs associated with UDENYCA, CIMERLI, and LOQTORZI after receiving regulatory approvals in November 2018, August 2022, and October 2023, respectively [641] Regulatory and Compliance - NCCN updated guidelines to include LOQTORZI as the only preferred category 1 first-line treatment for NPC [506] - The company recognizes uncertain income tax positions at the largest amount that is more likely than not to be sustained upon audit [675] - The company has entered into license agreements that may be recorded as asset acquisitions if they do not meet the definition of a business [671] Market and Sales Dynamics - Total sales deductions to gross product sales were 83% in 2024, 77% in 2023, and 73% in 2022 [578] - A 10% change in total provisions for product sales discounts and allowances as of December 31, 2024, would have resulted in a change of approximately $27.6 million in pre-tax earnings [578] - The allowance for chargebacks is based on an estimate of sales through to Healthcare Providers from the Customer [657] - Revenue from product sales is recorded at the net sales price, which includes estimates of variable consideration such as chargebacks, rebates, and discounts [655]