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Coherus BioSciences Inc. (CHRS-8.43%) has submitted its annual report on Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details Coherus' focus on the research, development, and commercialization of innovative immunotherapies to treat cancer. The company's commercial portfolio includes UDENYCA, a biosimilar to Neulasta, and LOQTORZI, a PD-1 inhibitor. Coherus has entered into an agreement to divest its UDENYCA franchise to Intas Pharmaceuticals Ltd. for $483.4 million in cash, with additional potential earnout payments.
Coherus reported that LOQTORZI was approved by the FDA for certain nasopharyngeal carcinoma indications and launched in the U.S. in January 2024. The company is also developing an immuno-oncology pipeline, including candidates like casdozokitug and CHS-114, targeting various cancers.
The filing highlights Coherus' strategic focus on leveraging its scientific expertise and manufacturing capabilities to advance its oncology franchise. The company anticipates using proceeds from the UDENYCA sale to repay its outstanding convertible notes and for general corporate purposes.
Coherus disclosed various risks, including competition from other biosimilar and immuno-oncology products, regulatory challenges, and dependence on third-party manufacturers. The company also noted potential impacts from healthcare reform measures and the ongoing conflict in Ukraine.
The report outlines Coherus' collaboration and license agreements, including partnerships with Junshi Biosciences and GSK, and details the company's intellectual property strategy and government regulation compliance.
Coherus emphasized its commitment to maintaining a safe workplace and fostering an inclusive and diverse work environment. As of December 31, 2024, the company had 228 employees, with plans for some to transfer to Accord BioPharma, Inc. following the UDENYCA sale.
The filing also addressed Coherus' financial performance, highlighting a decrease in net income compared to previous years and plans for future funding requirements. The company remains focused on achieving regulatory approvals and commercializing its product candidates.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Coherus BioSciences Inc. annual 10-K report dated March 17, 2025. To report an error, please email earnings@qz.com.