Coherus Oncology completes $50.1 million stock offering

Coherus Oncology, Inc. (NASDAQ: CHRS) closed an underwritten public offering of 28.6 million shares of common stock at $1.75 per share, generating gross proceeds of approximately $50.1 million before underwriting discounts and commissions.

The offering attracted healthcare-focused investors including Janus Henderson Investors, HBM Healthcare Investments and Samsara BioCapital. The company granted underwriters a 30-day option to purchase up to an additional 4.29 million shares at the public offering price to cover over-allotments.

Coherus plans to use the net proceeds to support commercialization of LOQTORZI (toripalimab-tpzi), continue clinical development of product candidates, and for working capital and general corporate purposes.

"Over the last two years we strengthened our balance sheet, reduced our debt by over 80%, and transformed Coherus from a biosimilar company to a clinical-stage Biotech focused on innovative oncology," said Denny Lanfear, Chairman and Chief Executive Officer.

TD Cowen, Guggenheim Securities, and Oppenheimer & Co. served as joint bookrunners for the offering. The securities were offered under an effective shelf registration statement filed with the SEC in November 2025.

Coherus operates as a commercial-stage oncology company with an approved PD-1 inhibitor and a pipeline including two mid-stage clinical candidates targeting various cancers. The company's pipeline includes tagmokitug, an anti-CCR8 antibody in Phase 1b/2a studies, and casdozokitug, an IL-27 antagonistic antibody in Phase 2 evaluation for hepatocellular carcinoma.

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