Coherus BioSciences jumps after FDA approval of cancer therapy

Shanghai Junshi Biosciences

30/10/2023 10:19

** Coherus BioSciences shares  CHRS.O  rise 18.5% to $3.13
premarket, among top pct gainers across U.S. stock exchanges 
    ** U.S FDA on Friday approved co's combination therapy as a
first line treatment for adults with a certain type of cancer
called NPC 
    ** The approval was based on data from a mid- to late-stage
study which showed significant improvement in duration of time
where the symptoms of the disease do not get worse compared with
chemotherapy alone
   ** NPC is an aggressive cancer that starts in the
nasopharynx, the upper part of the throat behind the nose and
near the base of skull; due to its location, it is primarily
treated using radiation and chemotherapy
   ** The drug branded as Loqtorzi is expected to be available
in the United States in Q1 2024
   ** CHRS co-developed the treatment with Shanghai Junshi
Biosciences Co Ltd  688180.SS  
    ** Up to Friday's close, CHRS's stock had fallen ~67% YTD

 (Reporting by Khushi Mandowara in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))