Coherus Oncology Highlights Transition to Innovative Oncology Company

Outlines progress on growing commercial base, expanding clinical pipeline, and balance sheet changes

Published on Mar. 9, 2026

Got story updates? Submit your updates here. ›

Coherus Oncology (NASDAQ:CHRS) outlined progress on its transition to an 'innovative oncology' company during its fourth-quarter and full-year 2025 earnings call, highlighting a growing commercial base in nasopharyngeal carcinoma (NPC), an expanding clinical development plan focused on overcoming immune resistance, and balance sheet changes following the divestiture of its biosimilar franchise.

Why it matters

Coherus' strategic shift from biosimilars to innovative oncology therapies represents an important pivot for the company, as it seeks to capitalize on the growing NPC market and advance its pipeline of novel immunotherapy candidates designed to overcome treatment resistance.

The details

CEO Denny Lanfear said 2025 marked the completion of Coherus' strategic transformation, which began with the 2023 acquisition of Surface Oncology. The company has since divested its biosimilar business, adding $250 million to the balance sheet and reducing debt. Coherus is now focused on oncology, building a clinical development approach centered on combinations with its LOQTORZI (toripalimab) product and partner drugs. LOQTORZI revenue grew 113% year-over-year in 2025, driven by new patient starts and an 11% increase in purchasing accounts. Coherus is also advancing two pipeline assets, tagmokitug and casdozokitug, in combination studies aimed at overcoming immune resistance.

  • Coherus completed its strategic transformation in 2025.
  • LOQTORZI net revenue was $40.8 million for full-year 2025, up from $19.1 million in 2024.
  • Coherus expects to initiate a registration trial for its pipeline assets in 2027.

The players

Coherus Oncology

A commercial-stage biopharmaceutical company focused on the development, manufacturing and commercialization of biologic therapies for oncology support and immuno-oncology.

Denny Lanfear

Chief Executive Officer of Coherus Oncology.

Sameer Goregaoker

Chief Commercial Officer of Coherus Oncology.

Theresa LaVallee

Chief Scientific and Development Officer of Coherus Oncology.

Rosh Dias

Chief Medical Officer of Coherus Oncology.

Got photos? Submit your photos here. ›

What they’re saying

“2025 marked the completion of the company's strategic transformation, which began with the September 2023 acquisition of Surface Oncology.”

— Denny Lanfear, Chief Executive Officer (Coherus Oncology Earnings Call)

“LOQTORZI net revenue of $40.8 million for full-year 2025, up from $19.1 million in 2024, representing 113% year-over-year growth.”

— Sameer Goregaoker, Chief Commercial Officer (Coherus Oncology Earnings Call)

“We remain on track for initial data readouts from 'mid-2026 onwards' on our pipeline assets tagmokitug and casdozokitug.”

— Rosh Dias, Chief Medical Officer (Coherus Oncology Earnings Call)

What’s next

Coherus expects to provide full-year 2026 LOQTORZI revenue guidance on its earnings call in August.

The takeaway

Coherus Oncology's strategic pivot from biosimilars to innovative oncology therapies, highlighted by the growth of its LOQTORZI product and the advancement of its pipeline assets, positions the company to capitalize on the evolving cancer treatment landscape and potentially overcome resistance to existing therapies.