Stock To Watch: Coherus Biosciences (CHRS)

Coherus Biosciences (CHRS), a biosimilar company, which is all set to report its fourth-quarter and full-year 2019 financial results on February 27, has gained 19 percent so far this month.

The Company markets Udenyca, a biosimilar to Amgen's Neulasta. The drug was approved in Europe in September 2018 and in the U.S. in November 2018 and is indicated to decrease the incidence of infection, as manifested by febrile neutropenia, in patients with non-myeloid malignancies receiving myelosuppressive anti-cancer drugs associated with a clinically significant incidence of febrile neutropenia.

Udenyca was launched in the U.S. on January 3, 2019. The uptake of the drug is progressing as can be seen from the product revenue.

Net product revenue for the third quarter of 2019 was $111.7 million compared to $83.43 million in the second quarter of 2019 and $37.1 million in the first quarter of 2019.

Last month, the Company acquired the commercial rights from Innovent Biologics for Avastin biosimilar candidate in the United States and Canada. Coherus plans to file a Biologics License Application with the FDA for Avastin biosimilar in late 2020 or early 2021.

CHRS is trading at $21.42, up 4.03%.

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