On Tuesday, Coherus BioSciences Inc. (CHRS) dropped -6.97% at $14.02 in after-hours trading. Coherus stock gained 2.10% to close at $15.07 in the regular trading session. The CHRS shares traded between $14.66 and $15.07 price range. CHRS traded 0.86 million shares, which was lower than its daily average of 1.07 million shares over the last 100 days.
Over the past five days, CHRS shares have risen 6.80%, and that increases to 11.80% in the last month. Price of CHRS stock fluctuated in absence of any news, but the loss in after-hours trade could be attributed to stockholders taking profits to get their share of the gain it made during regular trading hours.
Recent developments at CHRS:
Coherus is a biopharmaceutical company in the process of commercializing a product which can deliver significant savings to the health-care system and improve patient well-being. Through its commercial biosimilar business, CHRS aims to build a leading immuno-oncology franchise. According to CHRS, it plans to market UDENYCA in the United States through 2023, and to introduce biosimilars of Lucentis, Humira, and Avastin as soon as they are approved.
A pivotal study to show positive results from the Jupiter-02 study was announced by Shanghai Junshi Biosciences and Coherus this month.
- Toripalimab plus chemotherapy as a first-line treatment for recurrent or metastatic nasopharyngeal carcinoma (NPC) was evaluated in this randomized, double-blind, placebo-controlled Phase 3 trial.
- A blinded independent review committee (BIRC, per RECIST v1.1) assessed the CHRS interim analysis for progress-free survival (PFS) in comparison to chemotherapy alone, showing a statistically significant and clinically meaningful improvement.
- Furthermore, Jupiter-02 had an acceptable objective response rate (ORR) assessed by the bidding institution and was found to meet the investigator’s primary endpoint of PFS.
- Toripalimab also led to a longer duration of response (DoR), higher disease control rates (DCR).
- Toripalimab had a safety profile similar to that observed in the clinical trials conducted by CHRS on the drug.
- On Sunday, June 6, 2021, a late-breaking abstract summarizing the results was presented at the opening plenary session of the 2021 annual meeting of the American Society of Clinical Oncology (ASCO).
- This year’s abstract (LBA2) can be found on the ASCO website now.
CHRS’ efforts:
As part of the 2021 American Society of Clinical Oncology (ASCO) Annual Meeting, Coherus (CHRS) hosted a virtual investor event on Monday, June 7, 2021, to discuss toripalimab clinical data. Further, CHRS highlighted the discovery and development of toripalimab, the JUPITER-02 trial results, and the strategy for marketing approval of toripalimab.
