Coherus completes strategic transformation
Shares of California-based Coherus BioSciences (Nasdaq: CHRS) rose more than 5% to $0.88 in pre-market activity today as it completed a transformative transaction.
Coherus said it has completed the previously announced divestiture of its Udenyca (pegfilgrastim-cbqv) franchise to Intas Pharmaceuticals under the asset purchase agreement dated December 2, 2024 between the companies.
As a result, 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.
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