Coherus BioSciences (CHRS) 2025 Conference Transcript

Coherus BioSciences (CHRS) Conference Call Summary Company Overview - Company: Coherus BioSciences - Event: Jefferies Global Healthcare Conference - Date: June 04, 2025 Key Industry Insights - Focus Areas: Coherus Oncology is concentrating on three main areas: - Lactorsi (proprietary PD-1 asset) for nasopharyngeal cancer - CHS-114 (anti-CCR8 cytolytic antibody) - Casdozo ketog (IL-27 antagonist) [4][6][40] Core Product Highlights - Lactorsi: - Launched in 2024, it is the only preferred treatment for both first-line and follow-on lines in nasopharyngeal cancer - Expected revenue of $40 to$50 million in 2025 [12][40] - Targets a market of approximately $150 to$200 million annually [11] - Demonstrated a 15% increase in overall demand from the previous quarter [12] - CHS-114: - Targets T regulatory cells, aiming to selectively deplete them in tumors to enhance immune response - High expression of CCR8 in various solid tumors, including head and neck, gastric, and colorectal cancers [18][23] - Anticipated data readouts in the first half of 2026 [6][8] - Casdozo ketog: - First-in-class IL-27 antagonist showing promise in liver cancer with a 38% overall response rate and a 17% complete response rate [33][36] - Expected to enter a global study comparing it with standard care [35] Financial Overview - Debt Reduction: Successfully reduced debt to approximately $38.7 million annually after divesting$800 million worth of assets [7][42] - Cash Position: Ended Q1 2025 with $82 million in cash, bolstered by a$250 million increase post-divestiture [42][44] - Cost Management: Plans to reduce workforce from 225 to about 50 employees, yielding $25 million in savings [42] Strategic Partnerships and Market Opportunities - **Partnerships**: Actively seeking partners for ex-US licensing of pipeline assets [40][41] - **Market Potential**: Combined market opportunity for pipeline assets exceeds$15 billion [6][40] Additional Insights - Mechanistic Differentiation: Lactorsi's unique binding mechanism allows for internalization of the PD-1 receptor, enhancing T cell signaling, particularly in low PD-L1 states [9][10][43] - Clinical Development: Robust clinical programs with expected results in 2026, focusing on large indications with multibillion-dollar market potential [43][44] - Regulatory Engagement: Positive alignment with the FDA regarding the development approach for CHS-114 and Casdozo ketog [28][41] This summary encapsulates the critical points discussed during the conference call, highlighting the strategic direction, product pipeline, financial health, and market opportunities for Coherus BioSciences.