Release Details
Coherus Completes Strategic Transformation with Successful Divestiture of UDENYCA® Franchise
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– Coherus to focus exclusively on its innovative novel oncology programs including:
– LOQTORZI®, a revenue-generating and differentiated PD-1 inhibitor;
– Casdozokitug, a first-in-class interleukin-27 (IL-27) antagonist;
– CHS-114, a highly selective CCR8 (chemokine receptor 8) antibody –
“With strong strategic execution, we have transformed the company while dramatically reducing our debt and leaving
Terms of the Transaction and Financial Details
At the closing of the Transaction, which occurred on
Advisors
About
Coherus is a fully integrated commercial-stage innovative oncology company with an approved next-generation PD-1 inhibitor, LOQTORZI® (toripalimab-tpzi), growing revenues and a promising pipeline that includes two mid-stage clinical candidates targeting liver, lung, head & neck, and other cancers. Our strategy is to grow sales of LOQTORZI in nasopharyngeal carcinoma and advance the development of new indications for LOQTORZI in combination with both our pipeline candidates as well as our partners’, driving sales multiples and synergies from proprietary combinations.
Coherus’ immuno-oncology pipeline includes multiple antibody immunotherapy candidates focused on enhancing the innate and adaptive immune responses to enable a robust antitumor response and enhance outcomes for patients with cancer. Casdozokitug is a novel IL-27 antagonistic antibody currently being evaluated in multiple Phase 1/2 and Phase 2 studies in patients with advanced solid tumors including in non-small cell lung cancer and in hepatocellular carcinoma. CHS-114 is a highly selective cytolytic anti-CCR8 antibody currently in Phase 1 studies in patients with advanced solid tumors, including head and neck squamous cell carcinoma and gastric cancer.
For more information about LOQTORZI, including the U.S. Prescribing Information and important safety information, please visit www.loqtorzi.com.
Forward-Looking Statements
The statements in this press release include express or implied forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act about the proposed transaction between the Company and Intas that involve risks and uncertainties relating to future events and the future performance of the Company and the UDENYCA business. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. Words such as “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “future,” “opportunity,” “likely,” “target,” variations of such words, and similar expressions or negatives of these words are intended to identify such forward-looking statements, although not all forward-looking statements contain these identifying words. You can also identify forward-looking statements by discussions of strategy, plans or intentions.
Examples of such forward-looking statements include, but are not limited to, express or implied statements regarding: the Agreement and related matters, including, but not limited to, the ability of the Company’s pipeline to enhance outcomes for cancer patients; expectations about future synergies; projections about growth in sales and revenues; the ability of the Company to receive any milestone payments based on net sales of UDENYCA in the future; the ability of the Company to advance its pipeline and publish data from clinical trials in the future; post-closing operations and the outlook for the Company or the UDENYCA business; statements about the Company reducing its debt in the future, projections of its cash balance post-close, projections about the Company’s cash runway in the future, and the assumptions underlying or relating to such statements.
These forward-looking statements are based on the Company’s current plans, estimates and projections. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, assumptions and changes in circumstances, many of which are beyond the control of the Company. A number of important factors, including those described in this press release, could cause actual results to differ materially from those contemplated in any forward-looking statements. Factors that may affect future results and may cause these forward-looking statements to be inaccurate include, without limitation: uncertainties about the ability for Intas to achieve the net sales thresholds necessary for Coherus to receive the milestone payments in the future; the risk that transition services provided by the Company to Intas after the closing of the UDENYCA divestiture disrupt the Company’s current plans and operations or divert the attention of the Company’s management or employees from ongoing business operations; the risk that the Company may not realize the anticipated benefits of the proposed transaction in the time frame expected, or at all; the effects of the proposed transaction on relationships with the Company’s employees, suppliers, business or collaboration partners or governmental entities, or other third parties as a result of the proposed transaction; the ability to retain and hire key personnel; the potential impact of unforeseen liabilities, future capital expenditures, revenues, costs, expenses, earnings, economic performance, indebtedness, financial condition and losses on the future prospects, business and management strategies for the management, expansion and growth of the Company in the future; potential negative effects related to the consummation of the proposed transaction on the market price of the Company’s common stock and/or the Company’s operating or financial results; uncertainties as to the long-term value of the Company’s common stock; and the nature, cost and outcome of any litigation and other legal proceedings, including those involving the transaction, the Company or its employees or directors.
While the foregoing list of factors presented here is considered representative, no list should be considered to be a complete statement of all potential risks and uncertainties. There can be no assurance that the transaction described above will in fact be consummated in the manner described or at all. For a further discussion of these and other factors that could cause the Company’s future results to differ materially from any forward-looking statements see the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the period ended
LOQTORZI is a registered trademark of
©2025
Coherus BioSciences Contact Information:
For investors:
VP, Investor Relations & Corporate Communications
IR@coherus.com
For media:
(212) 600-1902
coherus@argotpartners.com
Source: Coherus BioSciences, Inc.