Coherus BioSciencesNASDAQ: CHRS

CHRS has sold Cimerli, a Lucentis biosimilar, to SDZNY. CHRS anti-IL-27 antibody, casdozokitug, shows promising results as part of a triple therapy in hepatocellular carcinoma, with an overall response rate of 38%. Numbers on market share point to a strong Q1'24 for Udenyca, which could increase the market's confidence that CHRS can offset lost revenues from the Cimerli sale.

The biotech unveiled its latest set of quarterly and annual results. Its revenue for the former period rose sharply, but missed analyst expectations -- as did its bottom-line result.

Coherus BioSciences, Inc. (CHRS) Q4 2023 Earnings Call Transcript

Following the closing of its recently announced divestiture of its noncore ophthalmology business, Coherus will prepay a huge chunk of its term loan with Pharmakon. The move will reduce interest expenses by 70%, allowing Coherus to hone its focus on its oncology products.

Coherus BioSciences stock initially jumped after the announcement of a deal to sell Cimerli to Sandoz. However, shares are now sinking with investors reminded of the financial challenges that Coherus faces.

Coherus announced a $170 million deal to divest Cimerli to Sandoz Group. The company is paying down debt and refocusing on its core oncology business.

Coherus BioSciences (NASDAQ: CHRS ) stock is taking off on Monday after the biopharmaceutical company announced a $170 million divestment. Coherus BioSciences is selling its CIMERLI ophthalmology franchise to Sandoz (OTCMKTS:SDZNY) for an upfront payment of $170 million.

After months of delays following an FDA review of its Udenyca OnBody biologics license application, Coherus has finally received FDA approval for the product. Coherus is planning commercial availability of Udenyca OnBody for the first quarter of 2024.

The FDA approves Coherus' (CHRS) Udenyca Onbody, an on-body injector presentation of Udenyca (pegfilgrastim-cbqv). Shares of the company rise on the news.