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We came across a bullish thesis on Coherus BioSciences, Inc. (CHRS) on Steve Wagner’s Substack. In this article, we will summarize the bulls’ thesis on CHRS. Coherus BioSciences, Inc. (CHRS)’s share was trading at $0.77 as of 30th May. CHRS’s trailing P/E was 1.77 according to Yahoo Finance.
Scientist in a lab working on a research project, focusing on biotechnology and healthcare advancements.
Coherus BioSciences (CHRS), long overlooked by Wall Street, is taking a bold step into innovative oncology by partnering with UK-based STORM Therapeutics to test a novel cancer treatment strategy. The collaboration brings together Coherus’s immunotherapy toripalimab (LOQTORZI) and STORM’s first-in-class RNA-modifying enzyme inhibitor STC-15 in a Phase 1b/2 clinical trial.
This unexpected pairing represents a fresh approach to immuno-oncology, targeting cancer through dual mechanisms that could produce synergistic effects. Toripalimab, already approved in the U.S. for nasopharyngeal carcinoma and under review for broader indications, offers proven checkpoint inhibition, while STC-15 introduces a cutting-edge method of disrupting RNA methylation processes linked to tumor growth and immune evasion. If this combo demonstrates efficacy, it could represent a completely new class of cancer therapy and place Coherus at the forefront of next-generation immuno-oncology innovation.
Importantly, this partnership shows strategic vision from CHRS’s management as they seek to differentiate the company beyond biosimilars and move deeper into proprietary immunotherapy. With the trial still in early stages and little market attention so far, the risk/reward profile for investors is potentially skewed to the upside. Should the data prove positive, the impact could be significant for both companies, especially for CHRS as it repositions itself as a serious player in oncology innovation. This under-the-radar development deserves close monitoring, as it could catalyze a major reevaluation of Coherus’s valuation and growth trajectory.
Previously, we have covered CHRS in March 2025 wherein we summarized a bullish thesis by the same author. Coherus BioSciences (CHRS) posted a strong turnaround in 2024 with $267M in revenue and $28.5M net income, driven by Loqtorzi’s growth and the planned $250M Udenyca divestiture. The company pivoted fully to oncology, trimmed costs, and advanced its pipeline, yet management expressed frustration over the stock’s undervaluation, hinting at potential M&A. Since our last coverage, the stock is down 38% as of 30th May.
