CHRS - Earnings call transcript Q2 2024 | Coherus BioSciences, Inc.

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Operator

Good day, and thank you for standing by. Welcome to the Coherus BioSciences Second Quarter 2024 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to Jami Taylor, Head of Investor Relations. Please go ahead.

Jami Taylor

operator. you, Thank welcome Conference and BioSciences Quarter Second Good to Earnings Call. XXXX afternoon, Coherus

today results Development Financial Joining Chief discuss Dr. Rosh to me our Officer; Medical of Chief Officer; and Bryan Dias, Reider, Chief Executive Lavallee, are Coherus; McMichael, Paul Chief Chief Officer; Theresa Commercial Dr. Officer. Officer Lanfear, Denny

not expectations expectations that limited future include, forward-looking statements includes Before started, would I call expectations statements following: we the clinical and partnerships, These like Coherus' to, today's of about current for get but of expenses. events. future revenue are to about remind you timing projections future regarding the future studies,

are or forward-looking our future from those achievements that statements these statements. in the risks substantial implied are by release uncertainties of the drug control and as are statements of development cause beyond including risks as could guarantees with forward-looking are not today, that uncertainties subject performance to All and and the that in and These uncertainties, well performance documents differ to we involve results, the clinical substantial and we actual issued discussed file inherent SEC. our risks process that press

as on revise duty Forward-looking today statements over undertake Denny. now, call to forward-looking of the this I'll we are statement. And to provided and made any date or call no update turn the

Dennis Lanfear

of updates to second afternoon, executing align thank focus the we for our aspects we're you share in definitive which Good to joining oncology. period a progress plan and upon Jami. everyone, Today, you, business to on of from made XXXX, in all Thank pleased our quarter a us.

without in streamlined XX% is the proving a ophthalmology we UDENYCA nicely. is oncology we streamlined earlier second very million million, from and divested biosimilar on operations $XX year-over-year LOQTORZI quarter grew even builds year. $XX recently total to impressively focus its this merit. delivering CIMERLI, portfolio, as strategic With sales the Our

X the the UDENYCA continue describe Officer, Reider, franchise opportunities Commercial Paul Chief presentations our to within expand will shortly, As in our our marketplace.

options, presentation we syringe, a the will clear injector, As on-body the advantage long that endure we and auto-injector the and prefilled the believe offering only X hold increase over term. brand competitive

selling average is market growing. and strong share remains our Our consistently price

further oncology mission of survival an patients extend company, is cancer. immuno-oncology fulfillment demonstrated mission to to supporting a is according our approval the to profound The year late data in that As its FDA advantage our continues on today. updates our call carcinoma. first provide of the and survival during the last of to treatment proceed nasopharyngeal LOQTORZI agent, Central with LOQTORZI, which for this plan, will the commercial of Paul launch

our strong commercial in we innovative immuno-oncology our candidates. portfolio, conviction our drug maintain of pipeline Beyond

across clinical Bryan cancer headcount, result small and half as demonstrated cancers will and year has hepatocelluar and report a Lavallee, Rosh as this on to our areas on congratulate ended direct pleased earlier year. sheet, of Dr. We especially our with our Chief million since like Dias, Medical well debt lung skill studies today. I'm our Chief CFO Theresa our and medical QX exceptional this role carcinoma. McMichael Bryan including us cell $XXX of need, both he second taking reduce balance leadership beyond. the will that cash, today head our positioning manage for Interim report of and to studies neck to I'd efforts we further the clear call continued the the Officer, describe are these that advancing on unmet Development and Dr. Officer, and

extends demonstrated Officer at full role arrival with at financial throughout since owned few Directors. long-term announced appointed time brisk, Board and Bryan's quarters for at has my our Chief press ago, competitively us turn That forward our the As release been the portfolio. LOQTORZI ahead. And call into of and deep gives have morning, strong further support, executing this plus now pipeline Coherus positioned years his to the that, our and product creation we the Paul. Bryan carrying of our strategy in confidence shareholders. I'll expertise, value been has his to over The momentum great support now Coherus a me to represents confidence. pace Gilead of with Financial Sciences the

Paul Reider

Thank you, afternoon, everyone. good Denny, and

of results. execution LOQTORZI following for revenue strong growth am report quarter commercial focused delivering launch. pleased is second oncology quarter a fifth its UDENYCA, I progress in to top on Our consecutive line of

was included a a starting increase with million, in nonrecurring XX% and million out-licensing over in to QX rights brand, LOQTORZI. LOQTORZI about now of Canada. to from net increase total $X.X revenue net XXXX. performance, $X nearly cash upfront products $XX.X which million, XX% revenue UDENYCA a Regarding net was compared quarter's million sales payment detail and revenue of speak in LOQTORZI in marketed QX million quarter-over-quarter the more received each $X.X QX the $XX.X from $XX million doubled QX. I'll for

LOQTORZI half have very standard this the to and in LOQTORZI. a groundwork First confident top in setting of become achieving was launches, access product was ClinPath Category And been requires substantial ambition. to examples offers first-line future growth. the have use first, Like LOQTORZI ensure these care X new achieved, plus. NCCN, setting for Pleased NPC with priority efficacy NPC, NCCN, to XXXX, in for second-line and all up In a milestones to the operational guidelines. preferred unprecedented is future many providers LOQTORZI regimen patients. LOQTORZI only up remain in include: ASCO only for that PD-X designation included we report of LOQTORZI and

health on medical and Medicare national XXX% coverage plans, including Advantage, now Medicare nearly and targeted confirmed Fee-For-Service, benefit been commercial payer lives regional plans. Second, has and

will providers. NCCN or has the institutions. product-specific effect electronic for hospitals, and now been reimbursement J-Code billing is and accessible in XX all academic which research among Third, CMS faster enable permitting granted took July predictable Fourth, X, top by LOQTORZI

focused starts priorities in segments, we in are the patients of X,XXX patient new segments. approximately QX patient on LOQTORZI-eligible believe, patient set to X patient broad indications constitute the made and more With the patients enable of second LOQTORZI-eligible access include foundation within the NPC now in we our now populations, speak our for driving XXXX. to LOQTORZI, annually. I'll detail efforts the the progress half solely NPC

plus those their patients with radiation many at account stages recurrent of for radiation the locally received These locally they at in who the NPC LOQTORZI receive First, patients are or early the These approximately time. advanced of were are diagnosed being treatment, disease. patients of point LOQTORZI in become Then here, Then will cured. chemotherapy. Majority diagnosed NPC X,XXX chemo-plus patients treatment with X/X drop unless about recurs had setting. or local as LOQTORZI they first local any experience pool And patients eligible. advanced eligible. who

for of sales patient on in switched term be do patients will data This expect Real-world already we approximately current the segment metastatic. perspective an use The or those account These a ramp a disease include patients plus LOQTORZI to currently these first-line the shows treatment. de is off-label important are XX% the patient not early-stage chemo X/X of combination patient second for X,XXX metastatic with as from disease, if treatment. of the off-label X are PD-X from treatment near is segment. or off-label who responding LOQTORZI novo chemotherapy the could regimen of recurrence which PD-X metastatic approximately subpopulations be eligible. Historical PD-X to

our third are plus disease. segments account of X the patients remaining Now LOQTORZI monotherapy. the primary patients X first and reasons. These is for the segment patient X/X described I receive for following second-line metastatic in as LOQTORZI-eligible the will with Patients focus

trial, shows of are survival JUPITER-XX First, of the benefit. revenue patients, second, number which driver X of these are LOQTORZI's of the QX, patients based to ramp a on XXX LOQTORZI-treated duration time. In than real-world longest total can likely estimated doubled key results key findings. the and derive patients new deliver by treatment, these who over the is more an the patients And greatest the data

in First, NPC new a treatment are given drug-treated quarter. of any minority to patients

time it to for take us new acquire So these will patients.

of setting are the XX% approximately locally real-world advanced current acquiring off-label patients chemotherapy. These treated XX% with place the Second, combination targeted we in use patients with our treated of a years market LOQTORZI LOQTORZI in valued dominant to data progressing will remain of with at being achieve position take X patient that estimate total that is and $XXX NPC PD-X LOQTORZI that in being new we be patient $XXX the by value launch patient messaging with treatment patient over from identification, is we term focused and acquisition, sustained confident to of time our line In by million on market estimate of fully X the which LOQTORZI is growth revenue will in revenue at to early ramp the LOQTORZI and X fueled delivered to share a driven view materialize. Overall, patients, the well near time near strong continuing follow our term, confirms we steady long-term million. the duration, combined would as XX% drivers: share, optimizing are LOQTORZI treatment. ensuring HCP duration the decision driving new priorities

lives. brand by of third, only quarter commercial significantly device continued opens revenue launch to by UDENYCA X providers and to and which first, growth, access payer drivers: UDENYCA of needs pegfilgrastim options UDENYCA. regarding and delivered execution the of driven patient the another with X Now, strong broad second, fueled is coverage, more UDENYCA the meet unique On-Body; patients;

the XX% and share ended X Franchise quarter-over-quarter. increase market at total of As on-body market the XX% with auto-injector and franchise product XX.X% quarter for total mix, the an the representing of On-body X unit SKU quarter-over-quarter. quarter, grew grew key performance XX%, indicators UDENYCA for presentations in the quarter, share was of points demand All respectively. XX% growth.

of we're performance differentiated receptivity date injection compared be innovative customer Regarding customer On-Body's X-minute time expect very Theresa now such are revenue to to UDENYCA to as planned with and second summary, adoption the UDENYCA Onpro. In the as the Fueling time UDENYCA half positive. pleased XXXX. I'll and delivering of long-term launch the launch the for features, and call Lavallee. we continues Dr. very in delivery Theresa? to for growth is turn XX-minute strategy our Neulasta continued On-Body,

Theresa Lavallee

and afternoon, everyone. Thank good you, Paul,

development. unresectable the and CHMP carcinoma CHMP partner, with we with for carcinoma for cell patients in JUPITER-XX paclitaxel. The patients opinion, JUPITER-XX our the treatment X Phase adult is based the or statistically improvement combination Europe, survival combination in Medicinal approval for LOQTORZI, adopted metastatic gemcitabine, recommending Use, for significant on data advancing carcinoma, of squamous progress III of clinically The cell esophageal positive in Products indications. and opinion recurrent with advanced NPC meaningful nasopharyngeal Firstly, with for these squamous a of inhibitor, and and treatment in with in first-line Biosciences, congratulate and cisplatin Committee or study demonstrating next-generation esophageal Junshi for first-line from Human secondly, cisplatin positive PD-X for continued a toripalimab's

with as consistent efficacy toripalimab is toripalimab Importantly, If safety U.S. PD-X to further demonstrated expand the these studies, is has toripalimab's profile into marketing drug while potential in approval and well and beyond will of This the sets. EU. toripalimab demonstrate of this the inhibitor efficacy of as quality the data the class. safety important approved, clinical the

we the of types now Phase while data any component. based may pipeline, regulatory as toripalimab in in indication on data our of approval toripalimab design. several and contribution targeting accept executing following FDA tumor with For single-country metastatic foundational the has triple-negative our breast future and a In suppressive these pipeline with we clinical first-line combination our anti-IL-XX global T in Development immune in Coherus-sponsored for with on expansion. Furthermore, the studies novel facilitate on or asset look CHS-XXX, anti-CCRX has recent they recurrent not will is with an tumor-resident approval tumor data have sets antibody, treatment have the Phase evaluated the cancer data. Toripalimab XX toripalimab And antagonist, to toripalimab pipeline is approval, will develop for the agents, an with study Coherus in III TORCHLIGHT Phase being indications, will occasions casdozokitug, paclitaxel rights. preferentially for simplify EU combination microenvironment support targeting marketed of now cells. China, toripalimab, III assets stated approvals combination U.S. strategy novel where III of

addition partnership several ongoing studies. have to potential our In progress Junshi's look and we development the our development, clinical to internal advance partner and and these forward discussions to exciting

with data supporting the presentation development at casdozokitug's efforts, Summit I-O HCC. in strong oral in internal our Philadelphia, we an Tomorrow, the continues. Conference have package on toripalimab development For

anti-tumor show Three inhibition cancer validated approach in first activation cytokines approved only activity to monotherapy with diseases antagonist carcinogen casdozokitug different results patients. tumor IL-XX lung HCC antibodies, IL-XX preclinical will in induced, combination IL-XX a HCC in and in Junshi to in brain, casdozokitug with is lung. bevacizumab inhibiting immune a liver and is activation Preclinical of supporting show hepatocellular has from inhibition. Further, mouse line, study Hepa in response NASH in models. multiple In safety liver the important for Phase toripalimab in and results contribution in the bevacizumab. These in study the response positive and While II immune in antitumor show relative inflammatory first-line models, X-X in cytokine be models results HCC or first-line models, recently safety, of blocking combination responses Phase cancer, cell induced toripalimab randomized liver carcinoma efficacy, data. with to and announced III

CHS-XXX Treg approaches, second not the depleting to T with cancer. in Eliminating of and the also clinical a progress levels peripheral tumor in broadly, patients. number of in depletion continues CHS-XXX, Treg and the to thus, broadly evaluating and toxicity problem and cells in with been anti-CCRX by Treg density several Our solid high and the of antibody, asset, head depleting gastric the highly data highest cells neck, activity. The has attempted cells of key autoimmune CCRX-positive have pipeline cytolytic cancer cervical CCRX-positive in antitumor in cells a prevalence and depleting mechanism tumors, leading establishes Treg cells, demonstrating selective Treg but limiting clinic. proof immunosuppressive cells field,

with therapeutics reason, ASCO impressed and in combination for of this includes CCRX showing and principle Medicines, presentation XX.X%, antibody, Phase targeting dose the study For pre- neck most rate one cancer, the in patients. overall data cancer their were LM-XXX, type CHS-XXX benefit. an depletion We show the believe expansion in of that to of gastric toripalimab to with tumor and biopsies tumor. At Treg experimental LaNova was a early in proof year, profile response combination is on-treatment we by in me I CCRX head by evaluate this which acceptable evaluating evaluating these advanced our clinical in encouraged safety an expected toripalimab demonstrates and

block and the the update quality to safety CHS-XXXX tumors. of been is development our Rosh? a activity escape clinics the toripalimab package rapidly receptor team pro-inflammatory promote Chief of proud PD-X ILT for active Dr. and adaptive designed Lastly, immune Coherus we This immune the in Medical to a an role advance discovery you ILTX treatment lead to now of that target that our It The Coherus mechanisms FDA to on accepted, to CHS-XXXX and combination activity plays or single-agent call response. to the to the plan turn and innate family and Officer. of modulates innate system with and an has a is and submitting ILTX internal that IND move agent, Dias, into immune antibody promising I'm the discovered. I'll cell tumor to for solid establish resistance.

Rosh Dias

form our of and our the its NPC, recently including in LOQTORZI with Thank nasopharyngeal and development Phase been pointed as combinations accompanying primary advantage casdozokitug NPC, very you, III of continues bevacizumab, of efficacy demonstrated of and and, secondly, with at firstly, HEPATORCH hepatocellular for IO carcinoma Phase where, for profound endpoints would company competitively lines partner where to research, assets, with in combination assets, LOQTORZI registration stage, the further again, in company's partners PFS external therapy NPC, stage in partner combination III our early-stage of we discovery for progress in and pipeline LOQTORZI Teresa internal with provide good plan non-small targeting fully strategies study IO X of fourth-line pleased pipeline making would with to fund well-positioned combination III later to demonstrate articulating development focused distinct CHS-XXX; franchise clear close published Theresa. LOQTORZI franchise, survival in the has we second outside cell in in partner X meeting carcinoma again, OS, I'm out. We've report development. This combination our continues assets, clinical effective all outside towards foundation at fund our or the study progress fully development; II IO all across most to addition, cancer first-line resource we're late-stage patients, toripalimab, the on approval development, its antibody internal lung enables Phase of partners strategic And trials LOQTORZI, of a and provide to the agents, a would with further, novel to external allocation with continues would intent, discovery development company's fronts. company and IL-XX that to thirdly, and approach our partner where of with Phase the in cancer. combinations where,

triplet Phase intended HCC controlled this LOQTORZI first-line ASCO targeting second-line the is data be non-small cell indication to with also dose-escalation on progressing now a an dose antibody, We're cancer with head showing acceptable in the impressive this presented the study this reminder, June, LOQTORZI. mechanism study year, CCRX-positive versus dose the neck in year. CHS-XXX, population As expansion X of into escalation a the start in to profile proof upon lung in from was presented with and CCRX that safety randomized depletion trial at and at an GI combination to building cancer. by Data at portion XX% is quarter of monotherapy tumor PK heavily in followed peripheral and Tregs, was no III disease of combination and combination control start track advanced dose-limiting solid of toxicities, has of completed rate proportionality, a pretreated. with ASCO our

particular, limited-stage early-stage in neck head vaccine Therapeutics, with I'll and Institute treat the with INOVIO in and being the Bryan Our head forward same Research latter, over the physician with in neck cancer, who months. And with multinational over HPV-positive announcing the BTLA cancer, to coming as and well of to partner programs Bryan? incorporating continue to LOQTORZI group oncologists as small Cancer look in late-stage Financial McMichael, stage cell partnerships Chief plan, that, cancer in the NPC. We lung in with the in hand collaboration with ovarian early combination also ENB further Officer. programs

Bryan McMichael

you, Rosh, Thank everyone. and afternoon, good

QX quarter Following the increase goods the was profit $XX.X revenues The year. and and million, million gross Cost in significant will sold primarily full to marked of by in compared on P&L YUSIMRY. QX mid-XX% for first summary a I the the cash. Paul, $XX.X provided rest increased last XXXX driven of range, of QX was for focus to share had related product CIMERLI, divestiture internal expenses. nonrecurring a that taken the UDENYCA demand costs the commercial of before following by

In UDENYCA net X% July past addition, and primarily headcount. by driven lower this a expired on from Amgen million X. R&D the mid-single-digit ago. $XX decreased payable decrease expense The totaled QX and revenues million was royalty to $X.X year

came and investments totaled did decreases divested and see headcount, programs not terminated our for in from decreased divested to XX, per from or prior $XX.X $X.XX marketable compared year-end. XXXX. Cash, was period million million $XXX.X our ongoing Additionally, QX million $X.XX we savings full products, gain reflects net XXXX share the occurred share, recur decrease XXXX. as million to compared $XX.X in of by year. the the share, $XX.X diluted started payoff of or the $XX quarter. The or or expense to $X.X the $XXX securities and million share in excludes XXXX, a net Non-GAAP at for quarter of cash which reduction QX loss XX% was partially divestiture first in $X.XX $X.X same same efforts. loss Interest principal our cost investments million expenses products cost per share which loss per was diluted QX the of not that diluted previous for to and QX recurring primarily $XXX.X of to The compared million loan, amount compared per diluted decreased in June million, QX net during on from savings and year. in and term current prior million compared XX% $XX.X in the equivalents million period offset periods for lower $X.XX were YUSIMRY, pipeline. SG&A $XX.X XXXX, of million the per to XXXX

As a $XX.X earlier, loan, we paid $XXX as reminder, quarter, million May into mentioned in new the entered I term XXXX. term due during loan a off million

stock-based and revenue expected out-license million and $XX execution to call rights business are strong we the to the received our guidance and on million. approximately range $XX.X rights of LOQTORZI, tremendous outcome in respectively. Today, expenses the exchange This will the closing and remarks. SG&A team. With million the Denny back are Sold our million expense results XXXX of R&D reiterating Canadian These million $XXX sale YUSIMRY $X.X of million includes of and for quarterly of part for combined to $XXX of development certain the excludes over for activities. $XX that, I turn compensation of

Dennis Lanfear

I'm Bryan. report are shareholder value. on deliver you, our Thank to very we today plan executing X-part happy well to

described, driving Paul the as First, top line.

Secondly, as Bryan just operating our described, expenses. controlling

our And as Third, proud our our second and in we assets. dedicated and of the microenvironment-focused extending to of cancer making quarter, described, Theresa survival pipeline tumor advancing of the capital substantial over We're structure. our of patients. mission Rosh lastly, remain accomplishments improvements

the questions. happy to Now line Operator? open for

Operator

first question of will with [Operator Nochomovitz Citi. Our from the Yigal come line Instructions]

Unknown Analyst

where And year? had LOQTORZI of us Ashik patients? you're launch Congrats in on any think as are are I ] you NPC. growth this This on should the And payer you primarily on which from inflection a switches off-label point just Yigal. the quarter. access? we sales seeing types newly about Or J-Code on with Are on topic, the color an PD-Xs? coverage [ on you other for diagnosed treating? few give patients same the is they patients for how Can the

Dennis Lanfear

issue bumped want and to whether secondarily, problems, NPC the launch into cover coverage question? we've and switching any Paul, payer do of you the the

Paul Reider

Yes, sure.

got expectations. to but these patients in to very launch in line. patients NPC going durations therapy, patients later fourth to is also very a share really of delivering expected. is We've be be they're have we're patient that seeing are seeing lines second, line periods So in LOQTORZI they're these going because The launch and our shorter monotherapy, with encouraged patients. And continue these treatment. heterogeneous mix the we revenue of are quarter-over-quarter long because will are duration, the how the very, longer that we very And see early-line these in long who as we durations the the have these patients as term, steady of important But patients patients as short stabilize. patient begins term. mix to that see it we the this over ramp a of heterogeneous early We're ramp and third, getting as through patients as that's mix work

the and it XXX% plans, payer right relates the issues on As have across regional virtually the commercial nearly to health now. payer payer got and coverage, We've medical no Advantage. national now Medicare targeted lives both the of we Medicare benefit fee-for-service,

we and enabling right it electronic providers. the for was, NPC really going very, we with J-Code relates is in see an as are very that it reimbursement now. And unrestricted billing your question to the So we the the coverage point. to be more faster, is here The pleased have J-Code, way predictable inflection

wouldn't it in per as account effect. doesn't until necessarily So But se. in inflection J-Code revenue is certainly, use barrier operational a any availability of the that remove its I for characterize any allow will products significant immediate

encouraged I and the standpoint very any second from -- moving I year of of those behind think So very feel now are impediments we're an think -- into those set really we're the access that us. half

Dennis Lanfear

of secondarily, the questions, issue and on the then -- think the of can switch, Paul, one progress a with and formulary? respect I was NCCN comment just you Ashik's bit to which a

Paul Reider

Yes, sure.

regimen, switch prepared data to treatment. patient combination off-label quarters was an remarks, As is by couple any seen we've to in the who patient first the mentioned patient in don't that I patients a being the believe the is chemo we the re-challenged progressed time That real-world of is my line if prior have later after prescribed the treatment. And typically what responding currently that PD-X here already in line. chemotherapy. that said, with they're we LOQTORZI, PD-X just PD-X with usually, or earlier in was the off-label going to therefore, are of retreated patient in And the PD-X seeing had been on treatment

duration we're are or we that So payers patients that failures expect encouraged were would use. That to approving said, a were in retreatment with consider these -- being the and shorter cases, doctors PD-X product. of LOQTORZI the willing

So then LOQTORZI the on as NCCN relates NCCN institutions. we've all signs. And got those the it are institutions, encouraging XX accessibility to now on to access

operational milestone was again, the in second achieved here So that quarter.

Operator

from line Our Brian will JPMorgan. come question the Cheng next of with

Brian Cheng

Maybe just one on saw that UDENYCA past unit quarter. you this growth

mentioned unit growth most came of that You on-body. the from

seeing So understand biggest driving the just more you past presentations all just importantly, trying momentum sustained little you a better contributor think uptick we're X the this dynamics we're how bit about us quarter? tell the And more here. that's to across across Can today X that all this do presentations?

Dennis Lanfear

for and the question. across Brad. Great of SKU the Paul, the quarter do growth you Brian? address issue the want to mix

Paul Reider

Sure.

said what's market. last start for now market we Brian, drive gains to are and quarters market multiple our devices, share X you're going growth Brian. fueled that's that to XXXX. maximize be these to will we're of device UDENYCA the long-term and on X UDENYCA Let XX% delivering XX% innovative new the delivering second to goal times is the drivers, it's the and with an gains, we the consistent in basically And remain these from half combined of continue sustainability these And going to that's share coming seeing. market, strong is we of these really presentations investments And profitability to our once our strongly to bring franchise. reiterating pegfilgrastim just these by me franchise, launch positioned that in results. execution UDENYCA share. And in promise. by that what grow confident We're share the

launch XXXX in market. on-body. we the access The now because head-to-head entire first doubled pegfilgrastim payer to which compared of coverage, XXXX. really nearly And can is And the the secondly, compete commercial and that's

patient significantly which management value. greater then because cetera, lives. opens And provides our providers, our payers, for disciplined And more et that the it is up third they hospitals, So ASP. of customers, them really predictability, important that's

patients. year, in But of the the on-body product still growth that really seeing see year, and of their presentations the accessibility are prefilled to moving of the uptake second the the as grow. needs finding are the presentations the X force largely customers that the the market. the That that All fit So said, to second half driving entire now grew in forward we we the half is we're amongst we because franchise going really being QX. syringe in now unique very confident the of their the in auto-injector needs presentations, to choose are device and nice still being and of able

So in half the we continued the very the the second growth remain of and of franchise. year confident

Operator

Our the will of H.C. from next come Tsao with Wainwright. Douglas line question

Douglas Tsao

Just...

Dennis Lanfear

your Hi Doug. can't Can you. question? you repeat hear We

Operator

have Doug like move looks disconnected. We'll the question. to It next may

Next the with come from Truist Securities. of will Billal Jahangiri line question

Billal Jahangiri

bunch a after have indication you permutation on the expect you We tori questions We quarter. -- as couple HCC? the of of that approval had for X of precedents the not to in triplet Congrats would end see targets your from wondering And in versus using here. differences atezo HCC? next envision U.S., do your what's pipeline a don't were given are what Phase

Dennis Lanfear

Theresa, Dr. is the triplet? tori Theresa company's question Lavallee, today. with comment the on with Development of Officer, us can Chief you

Theresa Lavallee

Yes.

the in see bevacizumab, HCC Phase was overall we X has data. There higher waiting casdozokitug, a but for to a that numerically been study study, was XXX versus seen The for The was response PD-X. with toripalimab published, differences, the Junshi positive, X obviously, study. that from a with X an Phase are was showing compare PD-LX rate set in plus looking what IMbrave atezo-bev Phase than atezo/bev. So X PFS the in tori/bev reported we're obviously, at data study study and it Phase would

on to HCC to based positioned those against benefit because suited tori for to in without the to go data would adding first-line and expect a we So well date. patients atezo the extending should really add tolerability increase there, toxicity, of increased an be really and survival course, casdozokitug then, good

it -- was, the was sorry, you of repeat next terms I'm study could In second that? question that? about the

Billal Jahangiri

I is Yes. feel, your What and combination what indication or gut triplet/doublet what guess?

Theresa Lavallee

Yes.

building non-small observed of for the off both cell lung that's the we're now, So in right in activity early-phase development studies cancer. in casdozokitug been

second mentioned, and given the in we're toripalimab. there. look Rosh to lung this non-small We'd cancer like on is deck to as study then to also study actively non-small in the fourth strong linkage areas later cell disease casdozokitug lung cell other line And HCC with year. enrolling cancer, So open the in

Dennis Lanfear

Rosh has also. you Rosh, respect for this some comments additional go with ahead. question to

Rosh Dias

Yes.

Just and differences on between add the point question tori. of first your atezo potentially one to also some to

reasonably thing the in high, in do the antibodies, it's the also for that know is single-digit So one we XX% whereas is probably the know atezo antidrug with that range, we ADA, range. toripalimab

and think tori. I additional what one So that's mentioned I'd to add atezo Teresa the the about already consideration

Operator

the will Wainwright. next line Our come Douglas question with H.C. from of Tsao

Douglas Tsao

that Sorry earlier. about

penetrate to it community that the your all do on treated there you're centers, curious And broader you take how in the setting? long or NCNN NPC will now perspective of in Just the how sort the how is market community market. versus the for being think much quickly of patients

Dennis Lanfear

do Paul, direction? on and split give a uptake little to in the patient want the proportion NCCN insight Doug you

Paul Reider

that about XX% business hospital. of the in Yes, type believe the is of is NCCN States treated the of X/X after of community. in still quarters, about in XX% couple care. our United all the sure. setting first NPC And We academic the of kind some is in LOQTORZI

to treatment. tracking relation very to it's in So -- overall their the closely to that

cancer, oncologists I as a rare seeing a setting, might lot X to think rare in it the cancer, year. patients community a in -- of Doug, be It's the relates know. uptake will maybe a X, these you as community it with NPC the

all So treating got our engaging oncologists is NPC. do continually are on these with we've focused community that plans are to what and

when eligible new so everything get and that they LOQTORZI patient one described, set that got start. we've we've patient to message, got X get patient that's that across And of up LOQTORZI those I that segments

patient both complete to acquisition year in that's across there progress segments, community as So we're is and institutions. our NCC the where and right second great really focus year now new the is academic make to going unfolds. I believe of And the half the drive the

Douglas Tsao

the terms Great. have really share a Paul, of in pretty more just auto-injector is recovery products you're success versus and having now? curious, syringe overall are That's just guys rebound segments revenue your and with I'm nice curious, where on portfolio on-body in UDENYCA, of just particular had Or maybe really as of I'm widespread there other? it the prefilled terms performance. helpful. you right a And or

Paul Reider

the Doug, were few the and UDENYCA, a time weeks business. was we last only seeing on of most into May call, we're to the with you that at QX Yes, uptake When in clinics. I growth segments across all call the the of in talked

Auto-injector, we're And it franchise all essentially, more only really, we're with entire but the the probably we're the seeing segments. making one still it's of where quarter pleased full other, going there's the all to that's than across penetration be clinics. Now, growing. on-body, in across in, is used X But being the it's segment really if business. segments the

we're the to going very confident So in We're I to think year. that's the the growth of see continue second that. where half in

Douglas Tsao

Okay. Great.

Operator

with will question Nedelcovych of line Cowen. next from come TD Our the Mike

Michael Nedelcovych

on remind what And plan have are combinations do on you toripalimab. royalties development indication? based to toripalimab just the and/or owed X Can path I for various the Junshi that to relative what you to to you us obligations them test? current your for have milestones

Dennis Lanfear

Mike. question, Great

have Junshi out. a So milestone, $XX gets approval which we million paid

So we paid million. $XX.X

cost to the to BTLA sharing cell due of cost million you programs, obligated small The your plus segment lung. net gets toripalimab program, the into is of as respect we in -- which are a costs, is other is development for not share QX XXXX. example, really going royalty $XX.X which Junshi question With go. XX% on And in sales, a pay with

in is to sought trials sell these development when one label and pivotal others pivotal prepared trials. his go out of pointed then deliberately remarks, commercially. as So the by develop advantages gets FDA, of the that done our those for into have into strategy, can we the products we Rosh pay And and

line objective these. of a up So is our to number

those. Junshi at probably development X X you'll a over effective we We'll of months, X this INOVIO. for the is think, now, and see I reduced with with have, X We more continue think that a cost. to to But strategy XX very next on focus

we're choose So we to. unless not development obligated no, for further

Michael Nedelcovych

with any have approvals Junshi And other your does the indications -- royalty extend future it. in-house potentially assets? and to Got in combination potential

Dennis Lanfear

sold toripalimab assets. in any of the United it's of royalty, or on States The just whether whatever. We're pay simply royalty to NPC royalty obligated course, sales. on It's extends any or to not regardless indication, any toripalimab straightforward a Junshi lung or gastric

Michael Nedelcovych

any -- Or are payments really milestone are then there well? those And them? it of Okay. in the is -- as associated none

Dennis Lanfear

There down are some the additional milestones sales road.

However, we there, number are don't to relevant things a expected non-small of cell the larger were when such as much indications, constructed will bit those time at feel to take a most we get because of really that those have milestones indications to. lung,

economically So modeling. we don't think those to relevant the are really

Operator

will question Kusy Baird. come the next line Our Colleen with from of

Colleen Hanley

Great. Congrats on progress. the

couple adoption? UDENYCA, you prescribers what's on growth you when the I For big of follow-up of have kind And what the can to then a been on-body? going think And for be in resonating on-body go with choosing questions. do is drivers development

Dennis Lanfear

base drivers our you the to customer do the on-body want and Colleen? growth experience Paul, about field, the little a reaction for Great. the to in with talk bit

Paul Reider

Colleen. Yes,

day sound next for features to the occur, we've on that injection on-body Probably time getting UDENYCA been for it's important, lives. and a their would X then time the this resonating I of amongst customers minutes, differentiated and for injection compared wait from how is they day most UDENYCA is it for but can to feedback they XX-minute our has the the done their like much innovator. on-body. that think get be what's with the really doesn't customers and to appreciate common patient injection innovative the X-minute That

of most features. been differentiated important so that's one And the

mentioned other remarks. Colleen, I I think prepared my what is too, in drivers really the

now have We payer broad coverage.

it's equally accessible stable our as So more is ASP. to patients important and highly --

So reimbursement, you a and very, having it's provider ASP, predictable everything set else drives aside very which valuable.

consistent So coverage, value And features, customers driving proposition now together, that you value broad you have and the towards. proposition the are ASP. innovative really UDENYCA payer a device total stable put

there. confident continued and our very pleased And performance launch and second so half the with in we year very the of progress are the we're

Colleen Hanley

can lung X? you're cancer. study Got can does you And for hoping what it. And for soon to going that to Can that? That's learn from study data then from casdozo we starting plus that's you you the when advise, to that have in comment HCC, before Phase starting able then a be triplet be the arm? control And helpful. in might non-small just on expect cell comment tori

Dennis Lanfear

and Medical I'll Chief Rosh Dias, one. that Dr. Rosh? Colleen, our take Officer, let

Rosh Dias

Colleen. Hi

non-small on was cancer. lung question first your So cell

obviously, -- year, end IO the Just in this quick reminder, just showing as at PD-LX of we couple data ESMO the that a upon very of at last a a responses spills refractory monotherapy presented subjects.

combination non-small year, anticipate in study in plus continues in ongoing in line potentially recruiting and we XXXX. and the is next So cancer. lung toripalimab, study casdozokitug toripalimab results to is with second cell This fourth to well recruit very

carcinoma. was question second The hepatocellular on

what year. ASCO we've So which data presented GI encouraging communicated this are late track on is very start the earlier this spills year, we at study previously. HCC the to Obviously, upon this

design. the asked about You

So first a doses. of couple will we all, at of looking be

care, comparison that the look study of So that, X of and at the current we standard to of then look look doses couple a also prior standard But casdozo contribution at of at will against obviously, of current Phase will with combination atezo/bev care. in the components. the tori

we'll X, as once we've into So probably discussed. that, arm then a third And on as Phase well. we've the done move

Operator

today's Lanfear to remarks. concludes I'd like session. turn That to the Denny for question-and-answer call closing back

Dennis Lanfear

joining operator. you, all our afternoon call. Thank this for us Thank you for

QX. another looking we forward with pleased at QX, indicated seeing to my in and are the forward look we Bye-bye. company's the all in to broadly remarks, I prepared investment progress in good We're quarter very As conferences. you here

Operator

participating. concludes call. Thank Goodbye. This for you conference today's

You disconnect. may now

Coherus BioSciences (CHRS) 8 Aug 242024 Q2 Earnings call transcript