Coherus Oncology (CHRS) H.C. Wainwright 27th Annual Global Investment Conference summary

Strategic transformation and business focus

• Transitioned from biosimilars to a pure immuno-oncology focus, highlighted by the acquisition of Surface Oncology and key assets CHS-114 (CCR8) and Casdozokitug (IL-27 antagonist).

• Emphasizes combination therapies, particularly using toripalimab with other agents to address solid tumors and improve patient survival.

• Actively pursuing ex-US partnerships and licensing to validate the platform, generate income, and share pivotal trial costs, with a focus on Asia and other territories.

• Maintains a collaborative approach, supplying drugs for external studies and focusing on U.S. commercialization while leveraging global rights.

• Financially stable with ongoing clinical trials and multiple data readouts expected over the next 12-18 months.

LOQTORZI commercial performance and market dynamics

• LOQTORZI positioned as the top, category one preferred therapy in NCCN guidelines for nasopharyngeal cancer, driving a 36% quarter-over-quarter increase in Q2 utilization.

• Long-term revenue target of $150-$200 million by mid-2028, with growth expected to be steady but initially variable due to rare disease dynamics.

• Strong adoption in academic centers (90% of NCCN institutions), with ongoing efforts to increase awareness and uptake in community settings.

• Significant patient reservoir remains in the community, with progress anticipated in coming quarters.

• Pricing for toripalimab expected to remain stable despite upcoming Keytruda biosimilars, with small, predictable price increases.

Pipeline development and clinical milestones

• Casdozokitug (IL-27 antagonist) in phase II for HCC, showing promising early efficacy and safety; initial data readout expected next year, with data maturing through 2026.

• CHS-114 (CCR8 antibody) targets tumor-specific T-regs, showing robust depletion and early responses in head and neck cancer; further development in gastric and other cancers ongoing.

• Pipeline studies include all-comer populations, with attention to PD-L1 status and regional etiologies for global development.

• Additional partnerships and indications for toripalimab anticipated, with clinical milestones for both Casdozokitug and CHS-114 in the next 12 months.