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Why Is Coherus BioSciences Stock Trading Higher On Tuesday?
Why it may matterVerify against the original reporting
The divestiture strengthens Coherus' balance sheet and R&D focus, similar to past successful asset sales.
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Coherus divests Udenyca for up to $558.4 million. Proceeds will repay $230 million in convertible notes. Coherus aims to focus on its immuno-oncology portfolio. Phase 2 trials for new cancer treatments begin in late 2024. CHRS stock rose 41.6% following the announcement.
- Coherus divests Udenyca for up to $558.4 million.
- Proceeds will repay $230 million in convertible notes.
- Coherus aims to focus on its immuno-oncology portfolio.
- Phase 2 trials for new cancer treatments begin in late 2024.
- CHRS stock rose 41.6% following the announcement.
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