Coherus Oncology (CHRS) investor relations material

Strategic transformation and financial repositioning

• Completed divestitures totaling $800 million, paying down $480 million in debt and adding $250 million to the balance sheet, supporting two years of cash runway.

• Acquired Surface Oncology, gaining global rights to tegmokitug and casdozokitug, and exited the biosimilar business.

• Ended Q4 2025 with $172.1 million in cash and investments, supporting operations through 2026.

• Ongoing ex-U.S. licensing and partnership strategy to offset development costs and expand global reach.

• Two outstanding Udenyca transaction milestones could add $75 million in future cash.

Pipeline highlights and clinical progress

• LOQTORZI, a next-generation PD-1, is the backbone therapy, showing strong efficacy in nasopharyngeal cancer and as a combination partner.

• Tegmokitug, a selective CCR8 Treg depleter, demonstrated best-in-class potential with high selectivity, potency, and proof of mechanism.

• Casdozokitug, a first-in-class IL-27 antagonist, showed a 38% overall response rate and 17% complete response rate in HCC, with durable responses over two years.

• Multiple pivotal data readouts are expected in mid to late 2026 across gastric, esophageal, colorectal, head and neck, and HCC indications.

• LOQTORZI sales are on track for $150–$200 million by mid-2028, with quarterly growth exceeding guidance.

Market opportunity and value drivers

• Pipeline addresses a $29 billion U.S. market opportunity, with each product approval expanding LOQTORZI’s label and revenue potential.

• Significant ex-U.S. opportunities exist for wholly owned assets, with additional upside from partnered indications.

• Deal-making remains a core value driver, with more collaborations expected in 2026.