Coherus Oncology tumbles on planned equity offering

Toronto-Dominion Bank

12/02/2026 22:21

** Coherus Oncology CHRS.O shares down 15% post-market at $1.73 as it looks to raise equity

** Redwood City, California-based firm announces stock offering without disclosing deal size

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

** TD Cowen, Guggenheim and Oppenheimer joint bookrunners

** Co has ~120.9 mln shares outstanding for about $240 mln market cap

** Stock on Thurs ended down 3 cents at $2.01. It's up ~42% YTD and has 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))