Coherus Oncology tumbles on $50 mln stock sale

Toronto-Dominion Bank

13/02/2026 10:43

** Coherus Oncology CHRS.O shares down 16.4% before the bell to $1.68 after overnight $50 mln follow-on priced

** Redwood City, California-based CHRS late Thurs sold 28.6 mln shares at $1.75, which is 13% below last close

** It intends to use net offering proceeds to support ongoing commercialization of LOQTORZI (toripalimab-tpzi), its FDA-approved immunotherapy to treat adults with recurrent or metastatic nasopharyngeal carcinoma, a rare type of head and neck cancer, and for clinical development of its product candidates

** TD Cowen, Guggenheim and Oppenheimer joint bookrunners

** Co has ~120.9 mln shares outstanding

** Through Thurs, shares up ~42% YTD and have roughly doubled over the past six months

** 5 of 6 analysts rate the stock "strong buy" or "buy", 1 "hold"; median PT $6, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))