Coherus Completes Strategic Transformation With Successful Divestiture Of UDENYCA Franchise; Says $250M Post-Close Cash Balance Extends Cash Runway Over 2-Years Into 2027, Funding Pipeline Development Through Key Data Catalysts; Coherus To Focus Exclusively On Its Innovative Novel Oncology Programs

 – $250 million post-close cash balance extends cash runway over two years into 2027, funding pipeline development through key data catalysts –

– 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 –

REDWOOD CITY, Calif., April 14, 2025 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. ((Coherus or the Company, NASDAQ:CHRS) today announced the completion of the previously announced divestiture of its UDENYCA (pegfilgrastim-cbqv) franchise (the Transaction) to Intas Pharmaceuticals Ltd. (Intas) pursuant to the asset purchase agreement (the Agreement) dated December 2, 2024 between Coherus and Intas in a deal valued at up to $558.4 million. Coherus received an upfront payment of $483.4 million, including $118.4 million for UDENYCA inventory, and is eligible to receive potential milestone payments of up to $75 million.

"With strong strategic execution, we have transformed the company while dramatically reducing our debt and leaving $250 million on the post-close balance sheet. This provides ample runway to achieve our mid-term corporate objectives, including maximizing LOQTORZI revenues, advancing our novel immuno-oncology candidates in combination with LOQTORZI to key data milestones in 2026, and progressing label expanding indications for LOQTORZI in novel combinations," said Denny Lanfear, Coherus Chairman and Chief Executive Officer. "Coherus is now an innovative, revenue-generating oncology company with a strong balance sheet, and a promising mid-stage pipeline focused on unmet needs."

Terms of the Transaction and Financial Details

At the closing of the Transaction, which occurred on April 11, 2025, Coherus received an upfront cash payment of $483.4 million, subject to certain adjustments that will be finalized following the closing pursuant to the Agreement. After the closing, Coherus is eligible to receive two milestone payments totaling $75.0 million if Intas meets specified thresholds of net sales of UDENYCA. At the closing, Intas received identified assets related to the UDENYCA franchise, including the UDENYCA pre-filled syringe, the UDENYCA autoinjector, and UDENYCA ONBODY®, and assumed identified liabilities. At the closing, Accord BioPharma, Inc. (Accord), the U.S. specialty division of Intas Pharmaceuticals, Ltd., focused on the development of oncology, immunology, and critical care therapies, assumed full responsibility for the UDENYCA franchise in the U.S.