The business expects to settle the Udenyca TSA payables with cash in a "front-loaded" manner in 2026. This appears to be the real reason for the public stock offering in February 2026.

Nothing new here. I plan on building out my Coherus Oncology position during 2026 to capture the potential value created from a half dozen data readouts this year.

This month's digest recaps the J.P. Morgan Healthcare Conference and previews the upcoming earnings season for Q4 2025.

This month I explore the recent surge in M&A activity, where 2025 ranks from a historical perspective, and evaluate the acquisition potential of the coverage ecosystem.

Despite a limited cash runway, the drug developer is quickly expanding clinical programs for its prized CCR8 asset. Licensing could provide breathing room.

A look at what to expect when companies report third-quarter 2025 operating results beginning in late October and extending through November.

This month I share insights into how I might temporarily downsize or exit Finch Trades positions if the market keeps melting up.

Management signaled there's significant outside interest in both CHS-114 and casdozo. Otherwise, a boring quarterly update is something investors should get used to.

A look at what to expect when companies report second-quarter 2025 operating results beginning in late July and extending through August.

Although commercial execution for Loqtorzi is important, the slow ramp to a relatively small peak sales opportunity of $150 million in 2027 means it's not the key value driver. That distinction belongs to data readouts.

A look at what to expect when companies report first-quarter 2025 operating results beginning in late April and extending through May.

The business certainly isn't worth less than $100 million, especially now with the debt overhang removed or in light of the Checkpoint Tx acquisition.

Now focused on immuno-oncology, the drug developer expects three combination data readouts for its two lead drug candidates by mid-2026.

I threw some new money at Coherus ahead of the publication of its abstract for ASCO GI, which promised full data from the casdozo triplet in first-line advanced liver cancer.

The former biosimilar pioneer now owns no biosimilars heading into 2025. Instead, it looks to an early-stage immuno-oncology pipeline.

This month I reveal my lessons from the last market bubble and correction, which influences my current strategy. I also beat you over the head as a reminder to avoid FOMO, remain disciplined, and keep your emotions separated from your money.

The market might be in a "wait-and-see" stance until the supply shortage impact becomes clearer, but the next seven weeks might be the most favorable risk-reward for Coherus BioSciences ever.

Commercial execution remains the surest path to salvation. Although I don't assign a high value to the company's pipeline at this time, the second-most advanced asset could provide a meaningful catalyst in 2025.

The commercial drug developer can't seem to catch a break. The inability of a third-party CMO to fulfill final packaging duties will cause a shortage of Udenyca in October and November.

Both Udenyca Onbody and Loqtorzi have captured nearly 10% of their market opportunities just four and six months into launch, respectively. The $159 million cash balance is nearly double expectations.

The stock's slide is frustrating, but I think my patience will be rewarded with a respectable exit in late 2024. Cash flow and profitability metrics should improve rapidly as Loqtorzi and Udenyca Onbody ramp.

The drug developer, now solely focused on oncology, sold the rights to its adalimumab biosimilar for $38.85 million in net proceeds.

The drug developer started 2024 with two important drug launches and notched key commercial milestones, but it desperately needs cash and has limited options.

The business is poised for an inflection point in 2024 as it ramps multiple new products and returns to cash-flow positive operations, the deterioration of which has been the primary driver of Wall Street's disinterest in the stock.

The drug developer declined to provide full-year 2024 revenue guidance until it has more data from the launches of Loqtorzi (January 2) and Udenyca Onbody (February 21).

Coherus BioSciences is selling its commercial infrastructure for ophthalmology biosimilars to Sandoz for roughly $190 million. Slimming down and focusing on oncology has pros and cons.

INOVIO Pharmaceuticals will evaluate a combination of Loqtorzi (toripalimab) with INO-3112 as a treatment for throat cancer in a phase 3 study.

Solt DB Invest's base case assumes Amgen will use its sweeping patent estate to stall Udenyca Onbody. We don't expect revenue until at least 2025.

Shares of the commercial drug developer have tumbled by at least 20% for three consecutive days on heavy trading volumes. It's important to focus on business fundamentals.

Cimerli notched the best-ever start for a second-to-market biosimilar product, but that was overshadowed by a relatively steep price drop for Udenyca.

Coherus BioSciences earned approval for its fourth drug product and first immuno-oncology asset. Approval triggers various financial considerations, licensing opportunities, and value multipliers for in-house assets.

The biosimilars and immuno-oncology company announced two separate FDA developments. Udenyca OBI will be delayed into at least 2024, while toripalimab remains on track for approval in 2023.

The business crushed our model for second-quarter 2023 performance, delivering revenue 32% higher and operating expenses 9% lower than Solt DB Invest estimates. Both Udenyca and Cimerli contributed to the outperformance.

Investors might read that the Surface Oncology acquisition is about doubling down on immuno-oncology. That's the high-level takeaway. The reality is more nuanced – and more valuable.

Several quick thoughts on the planned acquisition of Surface Oncology.

The FDA successfully completed an inspection of the Chinese manufacturing facility where toripalimab was produced. Separately, two announcements provide glimpses of the commercial strategy for Yusimry.

The company is seeking to raise up to $57.5 million (gross) from an offering of up to 13.5 million shares of common stock at $4.25 per share.

The first-quarter 2023 performance wasn't pretty, but it should mark the lowest quarterly revenue total of this decade.

The business will hit an inflection point on revenue growth, mix, and quality this year. Coherus BioSciences expects to return to profitability in 2024.

A quick update here before the company announces full-year 2022 operating results and gives the latest glimpse into its roadmap for 2023 and beyond.

Quick updates for Coherus BioSciences, Exact Sciences, Krystal Biotech, and Selecta Biosciences.

China on Wednesday, December 7 ended many COVID-control measures following international business frustrations and rare protests. This development provides a window for American regulators to visit the Chinese manufacturing facility for toripalimab – the last remaining hurdle to earning marketing approval in the United States.

Management expects full-year 2023 revenue of at least $275 million. Wall Street analysts are expecting $463 million. However, the revenue floor is being misinterpreted, spooking markets, and unnecessary.

Solt DB Invest doesn't expect Udenyca OBI to launch, or more specifically, we expect Amgen to sue Coherus BioSciences and delay the launch.

Coherus BioSciences earned FDA approval for its first ophthalmology product, Cimerli (ranibizumab), a biosimilar to Lucentis.

This article explores how toripalimab (Tori) fits into the overall strategy and argues for investors to pay attention to a formidable growth engine.