Coherus to divest UDENYCA franchise to Intas for up to $558.4M; plans to repay convertible notes

Coherus Oncology, Inc.

Upfront cash $483.4M (subject to inventory adj.) plus up to $75M in net sales milestones ($37.5M each at $300M and $350M thresholds).
Proceeds to fully repay $230M 1.5% convertible notes due April 2026 and buy out $49.1M royalty obligation on UDENYCA.
Post-close cash runway over 2 years; focus shifts to immuno-oncology pipeline (LOQTORZI, casdozokitug, CHS-114).
Transaction requires shareholder approval, HSR, CFIUS; expected close Q1 2025; board unanimously recommends.
Coherus to provide Q4 2024 sales and Q1 2025 cash guidance in early January 2025.

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