Business
Coherus BioSciences Reports Second Quarter 2023 Financial Results and Business Highlights
– Net revenue rose 81% from prior quarter to $58.7 million –– CIMERLI® net sales quadrupled to $26.7 million compared to prior quarter –– UDENYCA®
About this update from Coherus Oncology, Inc.
[{"type":"text","content":"– Net revenue rose 81% from prior quarter to $58.7 million –– CIMERLI® net sales quadrupled to $26.7 million compared to prior quarter –– UDENYCA® autoinjector launched in late May, and YUSIMRY™ launched in July –– Planned merger with Surface Oncology expected to significantly advancenext-generation immuno-oncology pipeline –– Conference call today at 5:00 p.m. Eastern Daylight Time – REDWOOD CITY, Calif., Aug. 02, 2023 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus”, Nasdaq: CHRS), today reported financial results for the quarter ended June 30, 2023, and recent business highlights: RECENT BUSINESS HIGHLIGHTS CIMERLI® CIMERLI® (ranibizumab-eqrn) net product sales more than quadrupled to $26.7 million compared to the prior quarter following the April 1, 2023 implementation of the permanent, product-specific Q-code. UDENYCA® Coherus launched a single-dose, prefilled autoinjector (AI) presentation of UDENYCA® (pegfilgrastim-cbqv) on May 22, representing the first pegfilgrastim presentation innovation in eight years.The U.S. Food and Drug Administration (FDA) review of the prior approval supplement for Coherus’ third pegfilgrastim presentation, the UDENYCA® On-body Injector (OBI), is ongoing. Coherus plans to launch UDENYCA® OBI directly upon potential approval later this year. Toripalimab The FDA completed inspection of the toripalimab manufacturing site in China in May, and has scheduled the clinical site inspections in China to begin in the second half of August 2023. Coherus anticipates potential FDA approval and U.S. commercial launch of toripalimab in the second half of 2023.The final analysis of the JUPITER-02 clinical trial (NCT03581786) presented at the American Society of Clinical Oncology annual meeting in June demonstrated a statistically significant and clinically meaningful improvement in overall survival (OS) for nasopharyngeal carcinoma (NPC) patients who were treated with toripalimab in combination with chemotherapy versus chemotherapy alone. Median OS was 33.7 months in the chemotherapy-only treatment arm, and median OS was not reached in the toripalimab arm, with a hazard ratio of 0.63, representing a 37% reduction in risk of death (95% CI 0.45-0.89; p=0.0083). YUSIMRY™ Coherus launched YUSIMRY™, a Humira biosimilar, with a citrate-free and sting-free formulation delivered via a state-of-the-art autoinjec...