erus BioSciences(CHRS)
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erus BioSciences(CHRS) - 2025 Q1 - Quarterly Results
2025-05-12 20:39
[Q1 2025 Business and Financial Highlights](index=1&type=section&id=Q1%202025%20Business%20and%20Financial%20Highlights) Coherus completed its strategic transformation to an oncology company, driven by LOQTORZI growth and advancing immuno-oncology pipeline assets [Overview](index=1&type=section&id=Overview) Coherus reported Q1 2025 results, highlighting its strategic transformation to an oncology company, growing LOQTORZI revenues, and advancing its immuno-oncology pipeline - Completed its strategic transformation to an innovative oncology company in **Q2 2025** with the divestiture of the **UDENYCA franchise**[1](index=1&type=chunk)[3](index=3&type=chunk) - The company is focused on maximizing **LOQTORZI revenues** and advancing its novel immuno-oncology candidates, **CHS-114** and **casdozokitug**, toward key data milestones in **2026**[3](index=3&type=chunk) Q1 2025 Product Net Revenue | Product | Net Revenue (Q1 2025) | | :--- | :--- | | LOQTORZI | $7.3 million | | UDENYCA (Discontinued Operations) | $31.5 million | [Business Highlights and Pipeline Update](index=1&type=section&id=Business%20Highlights%20and%20Pipeline%20Update) Coherus focuses on maximizing LOQTORZI revenue, which saw significant patient demand growth, while advancing its immuno-oncology pipeline and completing the UDENYCA divestiture [LOQTORZI® (toripalimab-tpzi)](index=1&type=section&id=LOQTORZI%C2%AE%20(toripalimab-tpzi)) LOQTORZI achieved $7.3 million in Q1 2025 sales with growing patient demand, maintaining its FDA-approved and NCCN-preferred status for NPC - LOQTORZI net product sales were **$7.3 million** in Q1 2025, with patient demand growing over **15%** compared to Q4 2024[4](index=4&type=chunk) - It is the **only FDA-approved** treatment for recurrent, locally advanced, or metastatic nasopharyngeal carcinoma (NPC) and holds a **'Preferred'** status with a **Category 1 designation** from NCCN for first-line treatment[4](index=4&type=chunk) - Coherus plans to **maximize LOQTORZI's value** by combining it with internal pipeline assets and pursuing external partnerships for label expansions[5](index=5&type=chunk)[8](index=8&type=chunk) [Innovative Immuno-Oncology Pipeline (CHS-114 & Casdozokitug)](index=3&type=section&id=Innovative%20Immuno-Oncology%20Pipeline%20(CHS-114%20%26%20Casdozokitug)) The immuno-oncology pipeline, featuring CHS-114 and casdozokitug, is advancing with promising early clinical data and ongoing trials, targeting key data readouts in 2026 - **CHS-114 (anti-CCR8 antibody):** Presented promising early clinical data at AACR 2025, showing a **confirmed partial response** in a heavily pre-treated PD-1 refractory HNSCC patient, with first data readouts expected in **Q2 2026**[1](index=1&type=chunk)[8](index=8&type=chunk) - **Casdozokitug (IL-27 antagonist):** Enrollment is ongoing in a **Phase 2 randomized trial** in combination with toripalimab/bevacizumab for 1L hepatocellular carcinoma (HCC), with the first data readout expected in **1H 2026**[1](index=1&type=chunk)[8](index=8&type=chunk) [UDENYCA® (Discontinued Operations)](index=3&type=section&id=UDENYCA%C2%AE%20(Discontinued%20Operations)) UDENYCA generated $31.5 million in Q1 2025 net product sales before its divestiture was completed in April 2025 for up to $558.4 million - UDENYCA net product sales were **$31.5 million** for Q1 2025[8](index=8&type=chunk) - In **April 2025**, Coherus completed the divestiture of its UDENYCA franchise for **up to $558.4 million**, with an upfront payment of **$483.4 million** received at closing[8](index=8&type=chunk) [Q1 2025 Financial Performance](index=4&type=section&id=Q1%202025%20Financial%20Performance) Coherus's Q1 2025 financial performance reflects increased revenue from continuing operations, reduced net loss, and the impact of the UDENYCA divestiture on cash [Financial Results from Continuing Operations](index=4&type=section&id=Financial%20Results%20from%20Continuing%20Operations) Q1 2025 revenue from continuing operations significantly increased to $7.6 million, while net loss narrowed to $47.4 million due to reduced R&D and SG&A expenses Q1 Financials from Continuing Operations (YoY Comparison) | Metric | Q1 2025 | Q1 2024 | Change | | :--- | :--- | :--- | :--- | | Net Revenue | $7.6M | $2.3M | +$5.3M | | R&D Expenses | $24.4M | $28.4M | -$4.0M | | SG&A Expenses | $26.0M | $40.2M | -$14.2M | | Net Loss | $47.4M | $68.0M | Improved by $20.6M | | Diluted EPS | $(0.41) | $(0.60) | Improved by $0.19 | - The decrease in R&D expenses was primarily due to **reduced co-development costs** for toripalimab and the **termination of the TIGIT Program**[12](index=12&type=chunk) - The decrease in SG&A was mainly driven by a **net $6.8 million charge** in Q1 2024 that did not recur, as well as **lower headcount and operating costs** following recent divestitures[13](index=13&type=chunk) [Discontinued Operations](index=4&type=section&id=Discontinued%20Operations) Discontinued operations reported a Q1 2025 net loss of $9.2 million, a significant shift from Q1 2024's $170.9 million net income, primarily due to the CIMERLI franchise sale gain Net Income (Loss) from Discontinued Operations | Period | Net Income (Loss) | Diluted EPS | | :--- | :--- | :--- | | Q1 2025 | $(9.2) million | $(0.08) | | Q1 2024 | $170.9 million | $1.52 | - The significant year-over-year change was primarily due to the **$153.6 million gain** on the sale of the **CIMERLI franchise** in March 2024 and negative impacts on UDENYCA revenues in Q1 2025 from a **temporary supply interruption**[17](index=17&type=chunk) [Balance Sheet and Cash Flow](index=4&type=section&id=Balance%20Sheet%20and%20Cash%20Flow) Coherus ended Q1 2025 with $82.4 million in cash, a decrease from year-end 2024, with the $483.4 million UDENYCA divestiture cash inflow to be reflected in Q2 2025 Cash and Cash Equivalents | Date | Amount | | :--- | :--- | | March 31, 2025 | $82.4 million | | December 31, 2024 | $126.0 million | - The upfront, all-cash consideration of **$483.4 million** for the UDENYCA divestiture was received in **April 2025** and is not included in the March 31, 2025 cash balance[18](index=18&type=chunk) - Net cash used in operating activities for the three months ended March 31, 2025, was **$25.8 million**[35](index=35&type=chunk) [Appendix: Financial Statements and Reconciliations](index=7&type=section&id=Appendix%3A%20Financial%20Statements%20and%20Reconciliations) This appendix provides detailed unaudited consolidated financial statements, including statements of operations, balance sheets, and cash flows, along with GAAP to non-GAAP reconciliations [Condensed Consolidated Statements of Operations](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) This section presents the unaudited consolidated statement of operations for the three months ended March 31, 2025, detailing revenues, costs, and net income or loss from continuing and discontinued operations Condensed Consolidated Statements of Operations (in thousands) | | Three Months Ended March 31, | | :--- | :--- | :--- | | | **2025** | **2024** | | Net revenue | $ 7,599 | $ 2,308 | | Total costs and expenses | 53,034 | 70,095 | | Loss from operations | (45,435) | (67,787) | | Net loss from continuing operations | (47,398) | (68,036) | | Net income (loss) from discontinued operations, net of tax | (9,171) | 170,911 | | **Net income (loss)** | **$ (56,569)** | **$ 102,875** | [Condensed Consolidated Balance Sheets](index=8&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) This section presents the unaudited consolidated balance sheet as of March 31, 2025, outlining the company's assets, liabilities, and stockholders' deficit compared to December 31, 2024 Condensed Consolidated Balance Sheets (in thousands) | | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $ 82,411 | $ 125,987 | | Assets held for sale | 138,972 | 116,423 | | **Total assets** | **$ 371,066** | **$ 448,533** | | **Liabilities and Stockholders' Deficit** | | | | Convertible notes | 228,569 | 228,229 | | Total stockholders' deficit | (183,470) | (131,990) | | **Total liabilities and stockholders' deficit** | **$ 371,066** | **$ 448,533** | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This section details cash inflows and outflows from operating, investing, and financing activities for the three months ended March 31, 2025, compared to the prior-year period Condensed Consolidated Statements of Cash Flows (in thousands) | | Three Months Ended March 31, | | :--- | :--- | :--- | | | **2025** | **2024** | | Net cash used in operating activities | $ (25,826) | $ (46,766) | | Net cash provided by (used in) investing activities | (17,486) | 202,763 | | Net cash provided by (used in) financing activities | (264) | 887 | | **Net increase (decrease) in cash** | **(43,576)** | **156,884** | | Cash, cash equivalents and restricted cash at end of period | $ 82,674 | $ 260,227 | [Reconciliation of GAAP to Non-GAAP Financial Measures](index=10&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Financial%20Measures) This section reconciles GAAP net loss from continuing operations to non-GAAP measures, excluding items like stock-based compensation and amortization for a clearer view of operating trends Reconciliation of GAAP to Non-GAAP Net Loss from Continuing Operations (in thousands) | | Three Months Ended March 31, | | :--- | :--- | :--- | | | **2025** | **2024** | | GAAP net loss from continuing operations | $ (47,398) | $ (68,036) | | Stock-based compensation expense | 5,046 | 6,816 | | Impairment/remeasurement, net | — | 6,772 | | Change in fair value of Royalty Fee Derivative Liability | 810 | — | | Amortization of intangible assets | 667 | 863 | | **Non-GAAP net loss from continuing operations** | **$ (40,875)** | **$ (53,585)** | GAAP vs. Non-GAAP Net Loss Per Share from Continuing Operations | | Three Months Ended March 31, | | :--- | :--- | :--- | | | **2025** | **2024** | | GAAP Net loss per share | $ (0.41) | $ (0.60) | | Non-GAAP Net loss per share | $ (0.35) | $ (0.48) |
Coherus BioSciences Reports First Quarter 2025 Financial Results and Provides Business Update
GlobeNewswire News Room· 2025-05-12 20:15
Core Insights - Coherus BioSciences has completed its strategic transformation to focus on innovative oncology, particularly through the commercialization of LOQTORZI and the advancement of its immuno-oncology pipeline [1][2] Recent Business Highlights - The divestiture of UDENYCA in April 2025 allows Coherus to concentrate on its oncology portfolio, with LOQTORZI revenues expected to be maximized [2] - LOQTORZI net revenue for Q1 2025 was $7.3 million, with patient demand increasing over 15% compared to Q4 2024 [5][9] - The National Comprehensive Cancer Network (NCCN) has designated LOQTORZI as the only treatment with Preferred status for nasopharyngeal carcinoma (NPC) [5] Financial Performance - Net revenue from continuing operations for Q1 2025 was $7.6 million, up from $2.3 million in Q1 2024, primarily due to higher LOQTORZI sales [9] - Research and development expenses decreased to $24.4 million in Q1 2025 from $28.4 million in Q1 2024, attributed to reduced co-development costs and personnel savings [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 [15][16] Pipeline Development - Coherus is advancing its next-generation immuno-oncology pipeline, including CHS-114, which is currently in Phase 1 clinical trials [4][12] - Promising early clinical data for CHS-114 was presented at the AACR Annual Meeting, showing potential for treating various solid tumors [12] - Enrollment is ongoing for a Phase 2 trial of casdozokitug in combination with toripalimab and bevacizumab for first-line hepatocellular carcinoma (HCC), with data readout expected in 1H 2026 [4][12] Cash Position - As of March 31, 2025, cash and cash equivalents totaled $82.4 million, down from $126.0 million at the end of 2024 [18] - The company received an upfront payment of $483.4 million from the divestiture of the UDENYCA franchise, which will be reflected in Q2 2025 financials [18]
Coherus BioSciences Reports First Quarter 2025 Financial Results and Provides Business Update
Globenewswire· 2025-05-12 20:15
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 Transcript
2025-05-08 14:00
Coherus BioSciences Conference Call Summary Company Overview - Coherus BioSciences is transitioning to Coherus Oncology, focusing on innovative oncology solutions [3][2] - The foundational asset is Torpalimab, branded as Lactorsi, a next-generation PD-1 inhibitor [3][4] Key Products and Developments - **Torpalimab (Lactorsi)**: - First PD-1 approved based on Chinese data, specifically for recurrent metastatic nasopharyngeal cancer [5] - Established as the standard of care in nasopharyngeal cancer, with strong positioning in NCCN guidelines [6] - Launched last year, with ongoing efforts to expand its use among healthcare providers [6][40] - **Combination Strategies**: - Torpalimab is being developed in combination with other assets, including Casdozo and Zoketo [6][12] - Partnerships with other companies for pivotal trials, including studies in small cell cancer and liver cancer [7][8] - **Casdozo (anti-IL-27)**: - Demonstrated a 17-18% response rate in liver cancer with five complete responses in a study of 27 patients [12] - Focused development in specialized tissues like lung and liver, showing promising early results [14] - **CCR8 Class**: - Emerging as a significant class in immuno-oncology, with Coherus being the first to present US patient data [9][10] - Targeting Tregs in the tumor microenvironment to enhance CD8 T cell activity [11] Market Position and Strategy - The company aims to position Torpalimab as a second-generation PD-1 option as Keytruda approaches patent expiration in 2028 [8] - The strategy includes co-developing Torpalimab with proprietary assets to enhance sales multiples [8] Financial Outlook - The launch of Lactorsi is progressing as expected, with a target market of approximately 2,000 patients [39][44] - Projected annual sales for Lactorsi are estimated between $150 million to $200 million within three years [45] - Recent divestitures totaling around $800 million have significantly improved the company's cash position, allowing for debt repayment and a strong balance sheet [51] Future Development Plans - Upcoming data readouts for both Casdozo and Torpalimab are anticipated next year, with a focus on achieving key benchmarks in response rates and progression-free survival [27][30] - The company is committed to advancing its pipeline with a focus on data-driven decision-making and targeted therapies [34] Additional Insights - The competitive landscape includes other players in the head and neck cancer space, with Coherus aiming to differentiate through unique mechanisms of action [22][24] - The company emphasizes the importance of understanding the right patient populations for treatment, leveraging preclinical data to guide clinical development [33][34] Conclusion - Coherus BioSciences is strategically positioned in the oncology market with innovative products and a robust pipeline, focusing on maximizing patient benefit and shareholder value through targeted therapies and effective market strategies [49][52]
Coherus to Report First Quarter 2025 Financial Results on May 12, 2025
GlobeNewswire News Room· 2025-05-05 20:01
Core Insights - Coherus BioSciences, Inc. will release its first quarter 2025 financial results on May 12, 2025, after market close [1] - A conference call and webcast will be held at 5:00 p.m. EDT on the same day to discuss the financial results and provide a business update [1][3] - The press release and related materials will be available on the company's investor website prior to the conference call [3][4] Company Overview - Coherus is a fully integrated commercial-stage innovative oncology company with an approved PD-1 inhibitor, LOQTORZI® (toripalimab-tpzi), and a growing revenue stream [6] - The company has a promising pipeline that includes two mid-stage clinical candidates targeting various cancers such as liver, lung, and head & neck [6] - Coherus aims to grow sales of LOQTORZI in nasopharyngeal carcinoma and advance new indications in combination with its pipeline candidates and partners [6] Pipeline Details - Coherus' oncology pipeline features multiple antibody immunotherapy candidates designed to enhance immune responses against tumors [7] - CHS-114, a selective anti-CCR8 antibody, is currently in Phase 1 studies for advanced solid tumors, including head and neck squamous cell carcinoma and gastric cancer [7] - Casdozokitug, an IL-27 antagonistic antibody, is being evaluated in multiple Phase 1/2 and Phase 2 studies for advanced solid tumors, including non-small cell lung cancer and hepatocellular carcinoma [7]
Coherus to Participate in Upcoming Investor Conferences
Globenewswire· 2025-05-01 21:04
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]
Coherus BioSciences (CHRS) Update / Briefing Transcript
2025-04-28 21:30
Coherus BioSciences (CHRS) Update Summary Company Overview - **Company**: Coherus BioSciences - **Focus**: Development of CHS-114, a cytolytic CCR8 targeting antibody for cancer immunotherapy Key Points from the Call Industry and Product Development - **Phase I Study**: The call discussed the Phase I study results of CHS-114 as a CCRA antibody, evaluated both as monotherapy and in combination with Torpalumab in patients with advanced solid tumors, particularly head and neck cancer [2][4] - **Target**: CHS-114 targets CCR8, a G protein-coupled receptor, which is selectively expressed on tumor-resident T regulatory cells (Tregs) [7][6] - **Mechanism**: The goal is to deplete Tregs to enhance the immune response against tumors, turning "cold" tumors "hot" by allowing CD8 T cells to infiltrate [5][6] Clinical Results - **Preclinical Data**: Preclinical models showed that treatment with CHS-114 led to significant depletion of Tregs and enhanced antitumor activity when combined with PD-1 inhibitors [8][9] - **Patient Population**: The study included patients with advanced solid tumors, primarily head and neck cancer, with a median age of around 60 years and a majority being male [23] - **Safety Profile**: The Phase I study demonstrated an acceptable safety profile with no dose-limiting toxicities (DLTs) and a stable disease rate of approximately 50% in heavily pretreated patients [17][25] Efficacy and Biomarker Data - **Response Rates**: The combination therapy showed promising results, with a notable partial response in a patient who had previously failed multiple lines of therapy [26][29] - **Biomarker Analysis**: Significant reductions in CCR8 positive Tregs were observed, with a decrease of 52% to 97% after treatment, indicating a shift towards a more inflamed tumor microenvironment [43][44] - **Durability of Response**: The combination therapy demonstrated durable responses, with ongoing evaluations to assess long-term efficacy [28][26] Future Directions - **Expansion Studies**: Coherus is expanding its studies to include gastric cancer, with ongoing recruitment for trials assessing CHS-114 in combination with Torpalumab [20][19] - **Market Potential**: The second-line treatment space for metastatic head and neck cancer is identified as an unmet medical need, with current standard treatments showing low response rates [77][78] Additional Insights - **Combination Therapy**: The potential for combining CHS-114 with T cell engagers and bispecific antibodies was discussed, emphasizing the importance of a robust CD8 T cell infiltrate for effective treatment [64][65] - **Patient Characteristics**: The responder in the study had a low PD-L1 score, suggesting that targeting Tregs may provide benefits even in patients with traditionally low immunogenicity [81][82] Conclusion - Coherus BioSciences is advancing its clinical development of CHS-114, showing promising early results in targeting CCR8 positive Tregs to enhance immune responses in cancer therapy. The ongoing studies aim to address significant unmet needs in the treatment of advanced solid tumors, particularly in head and neck cancer.
Coherus Presents Promising Early Clinical Data from Phase 1 Dose Expansion Study of CHS-114 in Patients with Recurrent/Metastatic Head and Neck Squamous Cell Carcinoma at AACR 2025
Globenewswire· 2025-04-28 14:10
Core Insights - Coherus BioSciences announced promising clinical data for CHS-114, a selective anti-CCR8 antibody, demonstrating efficacy in combination with toripalimab for treating head and neck squamous cell carcinoma (HNSCC) and gastric cancer [1][2][4] - A confirmed partial response was observed in a heavily pretreated PD-1 refractory patient, indicating potential for overcoming PD-1 resistance [2][13] - The ongoing Phase 1b trial aims to optimize dosing and evaluate safety and efficacy, with results expected in the first half of 2026 [1][8] Company Overview - Coherus BioSciences is focused on developing innovative oncology treatments, including the next-generation PD-1 inhibitor, LOQTORZI (toripalimab), and has a pipeline targeting various cancers [16][17] - The company is advancing CHS-114 in combination with toripalimab in two Phase 1b clinical trials for advanced solid tumors, including HNSCC and gastric cancer [15][17] Clinical Trial Details - The Phase 1b trial evaluated CHS-114 as a monotherapy and in combination with toripalimab in 21 patients, focusing on dose-limiting toxicities and treatment-emergent adverse events [5][12] - Key findings include a significant depletion of CCR8+ Treg cells (52-97%) and an increase in CD8+ T cells, supporting the mechanism of action for CHS-114 [6][13] Future Directions - The company plans to continue exploring CHS-114's potential in various solid tumors, with a strategic focus on HNSCC and gastric cancer [4][8] - Upcoming data presentations are expected to provide further insights into the efficacy and safety of CHS-114 in combination therapies [1][9]
Coherus BioSciences: Cleaning The Balance Sheet And Developing New Drugs
Seeking Alpha· 2025-04-17 09:53
Core Insights - Coherus BioSciences has transitioned from marketing biosimilar drugs to focusing solely on its branded drug Loqtorzi (toripalimab) and is now prioritizing the development of its clinical pipeline [1] Company Focus - The company is no longer involved in the marketing of biosimilar drugs and is concentrating on the development of its clinical pipeline [1] Market Position - Coherus BioSciences is currently positioned as a biotech company that trades around significant events such as trial results and NDA/BLA approvals [1]
Coherus Completes Strategic Transformation with Successful Divestiture of UDENYCA® Franchise
Newsfilter· 2025-04-14 12:00
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]