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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.
REDWOOD CITY, Calif., Jan. 03, 2024 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus,” Nasdaq: CHRS), today announced that senior management will present at the upcoming 42nd Annual J.P. Morgan Healthcare Conference on Wednesday, January 10, 2024, at 9:45 a.m. Pacific Time. The presentation and Q&A session will be accessible via Webcast through a link posted on the Investor Events Calendar section of the Coherus website: https://investors.coherus.com/upcoming-events. This webcast will be available for replay until February 9, 2024.
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.
Coherus BioSciences (NASDAQ:CHRS) shares gained more than 20% in early trade on Wednesday after it revealed that the United States Food and Drug Administration (FDA) has approved UDENYCA ONBODY, the company's on-body injector presentation of UDENYCA (pegfilgrastim-cbqv). Pegfilgrastim or biosimilar drugs are administered to cancer patients the day after they complete chemotherapy to decrease the risk of infection.