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Coherus Biosciences ( (CHRS) ) just unveiled an announcement.
Coherus BioSciences has announced a temporary allocation of its UDENYCA product due to strong demand. The company expects its 2024 total net revenues to be between $255 million and $260 million, with Q4 revenues projected at $49 million to $54 million. Coherus plans to divest its UDENYCA franchise for up to $558.4 million to repay its $230 million convertible notes due in 2026, extending its cash runway beyond two years. The divestiture and financial plans are subject to customary conditions and shareholder approval, indicating a strategic shift to strengthen its financial position.
More about Coherus Biosciences
Coherus BioSciences operates in the biopharmaceutical industry, focusing on biosimilar products. Its market focus includes providing affordable alternatives to biologics, with a portfolio that includes products like UDENYCA.
YTD Price Performance: 5.00%
Average Trading Volume: 5,078,694
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $169.4M
Find detailed analytics on CHRS stock on TipRanks’ Stock Analysis page.
