STOCKS TELEGRAPH

Tag: Coherus BioSciences

  • Coherus (CHRS) Gains Momentum With A Divestiture Move

    Coherus (CHRS) Gains Momentum With A Divestiture Move

    After a major sale plan was announced, Coherus BioSciences, Inc. (NASDAQ: CHRS) shares jumped 48.53% to $2.03. This crucial action demonstrates Coherus’ dedication to enhancing its financial standing and narrowing its strategic focus.

    Details of the UDENYCA Transaction

    Coherus (CHRS) and Intas Pharmaceuticals Ltd. signed an asset acquisition agreement on December 2, 2024, wherein CHRS sold its UDENYCA (pegfilgrastim-cbqv) franchise for a maximum of $558.4 million.

    The agreement includes an upfront payment of $483.4 million, adjusted for inventory, and milestone payments of up to $75.0 million tied to net sales. The proceeds will be carefully distributed to satisfy $49.1 million in royalties owed to UDENYCA and to completely repay $230.0 million in convertible notes that are due in April 2026.

    Reinforcing Strategic Priorities

    An important step in Coherus’ plan to reallocate its resources to cutting-edge immuno-oncology (I-O) developments is this divestment. The business wants to boost the expansion of LOQTORZI (toripalimab-tpzi), the PD-1 inhibitor authorized for nasopharyngeal cancer, by monetizing the value created by UDENYCA. By accelerating the development of its I-O pipeline, this action will put CHRS in a position to take advantage of new prospects in cancer treatment.

    Financial Strength and Cost Optimization

    The transaction will substantially enhance Coherus’ financial structure. The repayment of convertible notes will result in significant cost savings, with anticipated annual financing cash savings exceeding $10 million. Additionally, the transfer of UDENYCA-related overhead and certain employees to Intas will streamline operations, further aligning the company’s footprint with its strategic objectives.

    Tax Benefits and Future Outlook

    Upon transaction closure, Coherus plans to leverage tax attributes to offset a majority of U.S. federal income taxes linked to the divestiture. With this strengthened financial position, the company is poised to focus on high-value areas of its portfolio. The anticipated savings and operational efficiencies signal a robust foundation for CHRS as it embarks on a new phase of growth.

    This divestiture not only reflects a decisive step toward strategic refinement but also equips Coherus with the resources to advance its mission in innovative oncology treatments.

  • What Drove Coherus (CHRS) Stock’s Extended Session Surge?

    What Drove Coherus (CHRS) Stock’s Extended Session Surge?

    Coherus BioSciences, Inc. (NASDAQ: CHRS) shares experienced a notable upswing of 37.16%, reaching $2.99 in the extended trading session on Tuesday. In the regular trading session, Coherus stock also displayed a commendable increase of 7.92%, concluding at $2.18. This surge in CHRS stock value ensued subsequent to the announcement of regulatory approval.

    Coherus (CHRS) yesterday announced the approval of UDENYCA ONBODY by the Food and Drug Administration (FDA). UDENYCA is an on-body injector (OBI) used to reduce the risk of infection, namely febrile neutropenia. It is a biosimilar of pegfilgrastim effectively used after a chemotherapy.

    The development of the OBI for UDENYCA represents the culmination of substantial investments in research and development, resulting in a pioneering and exclusive device affording patients an automated delivery alternative for their medication. This milestone empowers cancer patients and their healthcare providers to opt for the UDENYCA administration method that aligns with their specific requirements, whether it be a prefilled syringe, an autoinjector, or Coherus’ OBI.

    Market analyses have indicated a pronounced demand for an innovative on-body pegfilgrastim delivery apparatus customized to the unique needs of patients. Coherus anticipates a positive reception for UDENYCA ONBODY, attributing its appeal to the device’s brief five-minute injection duration and innovative retractable needle mechanism, which is expected to resonate well with cancer patients, their caregivers, and medical professionals.

    UDENYCA ONBODY’s patient-centric design includes features such as an indicator with a status light and audible signals to assist patients in confirming the administered dose. Moreover, it incorporates a robust and well-tolerated adhesive. Notably, following the administration of the dose, the needle automatically retracts, minimizing the risk of needlestick injuries.

    The regulatory approval for UDENYCA ONBODY was underpinned by an exhaustive package of analytical and clinical data, encompassing pharmacokinetic (PK) and pharmacodynamic (PD) bioequivalence data, as well as data on adhesive performance and tolerability. Coherus is strategically planning the commercial availability of UDENYCA ONBODY in the first quarter of 2024.

  • What Caused The Coherus (CHRS) Stock To Drop Nearly 7% Afterhours?

    On Tuesday, Coherus BioSciences Inc. (CHRS) dropped -6.97% at $14.02 in after-hours trading. Coherus stock gained 2.10% to close at $15.07 in the regular trading session. The CHRS shares traded between $14.66 and $15.07 price range. CHRS traded 0.86 million shares, which was lower than its daily average of 1.07 million shares over the last 100 days.

    Over the past five days, CHRS shares have risen 6.80%, and that increases to 11.80% in the last month. Price of CHRS stock fluctuated in absence of any news, but the loss in after-hours trade could be attributed to stockholders taking profits to get their share of the gain it made during regular trading hours.

    Recent developments at CHRS:

    Coherus is a biopharmaceutical company in the process of commercializing a product which can deliver significant savings to the health-care system and improve patient well-being. Through its commercial biosimilar business, CHRS aims to build a leading immuno-oncology franchise. According to CHRS, it plans to market UDENYCA in the United States through 2023, and to introduce biosimilars of Lucentis, Humira, and Avastin as soon as they are approved.

    A pivotal study to show positive results from the Jupiter-02 study was announced by Shanghai Junshi Biosciences and Coherus this month.

    • Toripalimab plus chemotherapy as a first-line treatment for recurrent or metastatic nasopharyngeal carcinoma (NPC) was evaluated in this randomized, double-blind, placebo-controlled Phase 3 trial.
    • A blinded independent review committee (BIRC, per RECIST v1.1) assessed the CHRS interim analysis for progress-free survival (PFS) in comparison to chemotherapy alone, showing a statistically significant and clinically meaningful improvement.
    • Furthermore, Jupiter-02 had an acceptable objective response rate (ORR) assessed by the bidding institution and was found to meet the investigator’s primary endpoint of PFS.
    • Toripalimab also led to a longer duration of response (DoR), higher disease control rates (DCR).
    • Toripalimab had a safety profile similar to that observed in the clinical trials conducted by CHRS on the drug.
    • On Sunday, June 6, 2021, a late-breaking abstract summarizing the results was presented at the opening plenary session of the 2021 annual meeting of the American Society of Clinical Oncology (ASCO).
    • This year’s abstract (LBA2) can be found on the ASCO website now.

    CHRS’ efforts:

    As part of the 2021 American Society of Clinical Oncology (ASCO) Annual Meeting, Coherus (CHRS) hosted a virtual investor event on Monday, June 7, 2021, to discuss toripalimab clinical data. Further, CHRS highlighted the discovery and development of toripalimab, the JUPITER-02 trial results, and the strategy for marketing approval of toripalimab.