Coherus Oncology (CHRS) Status Update summary

Transaction overview and strategic rationale

• Announced divestiture of UDENYCA franchise to Intas Pharmaceuticals for up to $558 million, including $483.4 million upfront and $75 million in sales-based milestones.

• Intas acquires all global rights to UDENYCA products, enabling a strategic shift to focus on immuno-oncology and the LOQTORZI franchise.

• Monetization of UDENYCA allows redeployment of resources to maximize immuno-oncology opportunities and shareholder value.

• UDENYCA's value is expected to be maximized under a larger, global organization with a broader biosimilar portfolio.

• The transaction marks the completion of a long-term strategy to transition from biosimilars to innovative oncology.

Financial impact and capital structure

• Sale proceeds will be used to pay down nearly all debt, reducing total debt from $480 million to $38.7 million and annual interest from $38 million to $5 million.

• Less than $3 million in U.S. federal taxes expected due to efficient use of net operating losses.

• $50 million will be used to buy out UDENYCA royalty obligations; LOQTORZI royalty liability remains at $11 million.

• Post-transaction cash projections exceed two years, supporting operations past key 2026 data readouts.

• Updated sales and cash projections to be provided in early 2025.

Pipeline and clinical development strategy

• Focused on advancing LOQTORZI in nasopharyngeal carcinoma (NPC) and expanding through combinations with internal and external assets.

• LOQTORZI now listed as the only preferred regimen for advanced NPC in updated NCCN guidelines, strengthening its market position.

• Multiple combination studies ongoing or planned with casdozokitug (IL-27 antibody) and CHS-114 (CCR8 antibody) in lung, liver, head and neck, and gastric cancers.

• Key data readouts expected in 2026 for CHS-114 in head and neck and gastric cancers.

• Ex-U.S. partnerships are being pursued to offset development costs and monetize global rights.