Coherus Oncology Pivots to Immuno-Oncology, Touts LOQTORZI Growth and New Pipeline at Citizens Conf.

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Coherus Oncology (NASDAQ:CHRS) used its presentation at the Citizens Life Sciences Conference to outline its transition into an 'innovative oncology company focused on overcoming immune resistance in cancer,' centered on a commercial PD-1 therapy and two pipeline immuno-oncology assets acquired through the purchase of Surface Oncology. The company highlighted the growth of its LOQTORZI (toripalimab) product, as well as progress on its pipeline assets tagmokitug and casdozokitug.

Why it matters

Coherus Oncology's pivot to immuno-oncology represents a strategic shift for the company, as it looks to leverage its commercial capabilities and pipeline to address unmet needs in cancer treatment. The growth of LOQTORZI and the advancement of its novel immuno-oncology candidates could position Coherus as a player in the competitive oncology landscape.

The details

Coherus acquired Surface Oncology in September 2023 and subsequently divested its biosimilar assets, paying down nearly $480 million in debt and putting $250 million on the balance sheet to support development efforts. The company highlighted the sale of UDENYCA to Intas, which included an upfront payment of $483 million and additional $75 million in follow-on payments. On LOQTORZI (toripalimab), Coherus said sales more than doubled from $19.1 million in 2024 to $40.8 million in 2025, with systematic increases each quarter. The company expects LOQTORZI to reach peak market share in 2028 in an approximately $250 million market, with a goal of reaching 70% market share, or roughly $175 million annualized. For its pipeline assets, Coherus detailed tagmokitug, a CCR8-targeting T-regulatory cell (Treg) depleting molecule, which is being studied across head and neck cancer, multiple gastrointestinal cancers, and prostate cancer through a collaboration with Johnson & Johnson. The company also highlighted casdozokitug, an anti-IL-27 antagonist, which showed promising results in first-line hepatocellular carcinoma.

• Coherus acquired Surface Oncology in September 2023.
• Coherus divested its biosimilar assets in 2023.
• Coherus expects to begin enrolling patients in the J&J collaboration on tagmokitug in the second half of 2026, with data anticipated in the first half of 2027.
• Coherus expects a mid-year 2026 readout on the randomized Phase II HCC study evaluating casdozokitug plus toripalimab on a background of bevacizumab versus toripalimab and bevacizumab alone.

What they’re saying

What’s next

The randomized Phase II HCC study evaluating casdozokitug plus toripalimab on a background of bevacizumab versus toripalimab and bevacizumab alone is expected to have a mid-year 2026 readout.