Coherus BioSciences Announces CFO Transition Plans
December 07 2023 - 5:55PM
Coherus BioSciences, Inc. (Coherus, Nasdaq: CHRS), today announced
that McDavid Stilwell, Chief Financial Officer (CFO), has
resigned from the company to pursue other opportunities. Mr.
Stilwell’s last day of employment with Coherus will
be December 31, 2023, with ongoing service provided beyond
that date by mutual agreement. Coherus will appoint a new interim
Principal Financial Officer in late December 2023 or early January
2024 while it conducts a search for a new Chief Financial Officer
and Principal Financial Officer.
“McDavid has been a strategic partner and a
valuable member of our management team during these last three
years of rapid product portfolio growth at Coherus,”
said Denny Lanfear, Chairman and Chief Executive Officer of
Coherus. “During McDavid’s tenure, the finance and accounting
department at Coherus grew and developed to support the breadth of
the company’s product portfolio. The fundamental strength of
Coherus’ finance function positions us well to achieve the goals
set for 2024 and beyond. We plan to conduct an expeditious search
to fill the CFO position and look forward to announcing the outcome
of that search when ready.”
“It has been a privilege to work with Denny and the
Coherus team during this period of growth and strategic
transformation. Coherus is well positioned to create significant
shareholder value in the years ahead, with multiple new product
launches expected to generate strong topline growth, and as it
realizes the full potential of its immuno-oncology pipeline,”
said Mr. Stilwell.
About Coherus BioSciencesCoherus
is a commercial-stage biopharmaceutical company focused on the
research, development and commercialization of innovative
immunotherapies to treat cancer. Coherus is developing an
innovative immuno-oncology pipeline that will be synergistic with
its proven commercial capabilities in oncology.
Coherus’ immuno-oncology pipeline includes multiple
antibody immunotherapy candidates focused on enhancing the innate
and adaptive immune responses to enable a robust immunologic
response and enhance outcomes for patients with cancer.
Casdozokitug is a novel anti-IL-27 antibody currently being
evaluated in two on-going clinical studies: a Phase 1/2 study in
advanced solid tumors and a Phase 2 study in hepatocellular
carcinoma. CHS-114 is a highly selective, competitively positioned,
ADCC-enhanced anti-CCR8 antibody currently in a Phase 1/2 study as
a monotherapy in patients with advanced solid tumors.
Coherus’ earlier-stage immuno-oncology pipeline
targets immune-suppressive mechanisms, including CHS-006, a
TIGIT-targeted antibody, being evaluated in a Phase 1/2 clinical
trial in combination with LOQTORZI in patients with advanced solid
tumors, and CHS-1000, a preclinical program targeting the novel
pathway ILT4.
Coherus markets UDENYCA® (pegfilgrastim-cbqv), a
biosimilar of Neulasta®, CIMERLI® (ranibizumab-eqrn), a biosimilar
of Lucentis®, YUSIMRY™ (adalimumab-aqvh), a biosimilar of Humira®
and expects to launch LOQTORZI™ (toripalimab-tpzi), a novel next
generation PD-1 inhibitor, in the U.S. in January 2024.
Forward-Looking StatementsExcept
for the historical information contained herein, the matters set
forth in this press release are forward-looking statements within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995, including, but not
limited to, statements regarding Coherus’ ability to find synergies
between its I-O pipeline and its commercial operations;
expectations for the launch date of LOQTORZI™; and Coherus’
expectations about achieving its goals and delivering future
shareholder value and revenue growth.
Such forward-looking statements involve substantial
risks and uncertainties that could cause Coherus’ actual results,
performance or achievements to differ significantly from any future
results, performance or achievements expressed or implied by the
forward-looking statements. Such risks and uncertainties include,
among others, the risks and uncertainties inherent in the clinical
drug development process; risks related to realizing the
anticipated benefits of the acquisition of Surface; risks related
to Coherus’ existing and potential collaboration partners; risks of
Coherus’ competitive position; the risks and uncertainties of the
regulatory approval process, including the speed of regulatory
review, international aspects of Coherus’ business and the timing
of Coherus’ regulatory filings; the risk of FDA review issues; the
risk that Coherus is unable to complete commercial transactions and
other matters that could affect the availability or commercial
potential of Coherus’ products and product candidates; and the
risks and uncertainties of possible litigation. All forward-looking
statements contained in this press release speak only as of the
date of this press release. Coherus undertakes no obligation to
update or revise any forward-looking statements. For a further
description of the significant risks and uncertainties that could
cause actual results to differ from those expressed in these
forward-looking statements, as well as risks relating to Coherus’
business in general, see Coherus’ Quarterly Report on Form 10-Q for
the fiscal quarter ended September 30, 2023 filed with
the Securities and Exchange Commission on November
6, 2023, including the section therein captioned “Risk Factors” and
in other documents Coherus files with the Securities and
Exchange Commission.
UDENYCA®, CIMERLI® YUSIMRY™ and LOQTORZI™ whether
or not appearing in large print or with the trademark symbol, are
trademarks of Coherus, its affiliates, related companies or its
licensors or joint venture partners unless otherwise noted.
Trademarks and trade names of other companies appearing in this
press release are, to the knowledge of Coherus, the property of
their respective owners.
Coherus Contact
InformationInvestors:Jami Taylor, Head of Investor
RelationsIR@coherus.com
Jodi Sievers, VP Corporate Communications
media@coherus.com
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