Who Owns Coherus Biosciences Company?

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Who Owns Coherus Biosciences?

Understanding Coherus BioSciences' ownership is key to grasping its strategic shifts. A recent divestiture of its UDENYCA® franchise in April 2025 highlights how ownership changes can redefine a company's focus.

Coherus BioSciences, founded in 2010, initially aimed to broaden access to affordable therapeutics, particularly in oncology and immunology, through biosimilar development. As of August 2025, the company's market capitalization stands at $0.10 billion USD.

The company's strategic pivot towards innovative oncology therapies, underscored by the UDENYCA® divestiture, has reshaped its operational landscape. This analysis will explore Coherus BioSciences' ownership evolution, from its founders and early backers to its current institutional and public shareholders, examining the impact of these changes on its trajectory and its Coherus Biosciences BCG Matrix.

Coherus BioSciences, Inc., initially established as BioGenerics, Inc. in September 2010 and rebranded in April 2012, was founded by a team of seasoned professionals, including Denny Lanfear and Doug Treat. Their objective was to tap into the burgeoning biosimilar market by offering more affordable alternatives to high-cost biologic drugs, particularly in oncology and immunology, thereby enhancing patient access to critical treatments.

Founding Vision

The founders recognized a significant market gap for cost-effective biosimilar medications. Their aim was to improve patient access to essential therapies.

Early Funding

In 2011, the company secured $55 million through a Series A financing round. This capital injection was crucial for advancing its biosimilar development pipeline.

Founder Equity

While specific initial equity allocations for founders are not publicly disclosed, their shares typically included repurchase options. These options would lapse over time, contingent on continued employment, a common practice to ensure founder commitment.

Expertise of Founding Team

The founding team brought extensive experience in drug development and regulatory affairs. This expertise was vital for navigating the complex pathway of biosimilar approval.

Market Opportunity

The company was strategically positioned to benefit from the patent expiries of major biologic drugs. This created a substantial opportunity for biosimilar market entry.

Company Evolution

The initial name, BioGenerics, Inc., was changed to Coherus BioSciences, Inc. in April 2012. This rebranding reflected the company's evolving focus and strategic direction in the biosimilar space.

The early ownership structure of Coherus BioSciences was primarily shaped by its founders and initial investors who provided the critical seed capital. This foundational support was instrumental in enabling the company to pursue its ambitious goals in the biosimilar arena. Understanding the Growth Strategy of Coherus Biosciences provides further context on how this early ownership influenced the company's trajectory.

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Coherus BioSciences' ownership structure has seen significant evolution since its public debut, marked by strategic shifts and substantial institutional backing. The company's transition from a biosimilar focus to innovative oncology has reshaped its investor base and strategic priorities.

The journey of Coherus BioSciences began with its initial public offering on November 6, 2014, raising approximately $85 million by selling 6,296,300 shares at $13.50 each. This event established the company's presence on the NASDAQ Global Market under the ticker 'CHRS'. By the IPO's closure on November 12, 2014, with the underwriters exercising their option, a total of 6,803,702 shares were sold, yielding net proceeds of about $81.5 million. This foundational event set the stage for its subsequent ownership evolution.

Key Coherus BioSciences Stakeholders

As of March 31, 2025, Coherus BioSciences' ownership is distributed among 234 institutional owners and shareholders. The company's strategic pivot towards innovative oncology, including the divestiture of its UDENYCA® franchise in April 2025, has influenced its investor landscape.

• The Vanguard Group, Inc. is a significant holder with 9.70% ownership.
• BlackRock Institutional Trust Company, N.A. holds 7.42% of the company's shares.
• Rubric Capital Management LP is another major investor, with a 4.57% stake.
• Dennis M. Lanfear, the President, CEO, and Chairman, held 1.05% ownership as of April 24, 2025.
• The company's strategic decisions, such as the divestiture of UDENYCA®, impact its overall ownership structure and future direction, a topic also explored in the Marketing Strategy of Coherus Biosciences.

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The Board of Directors at Coherus BioSciences is comprised of ten members, though as of April 25, 2025, there were nine active directors. The board operates with a classified structure, divided into three distinct classes. With the exception of Dennis M. Lanfear, who serves as President, Chief Executive Officer, and Chairman of the Board, all other directors are considered independent according to Nasdaq listing standards, as Mr. Lanfear's employment status makes him non-independent.

As of April 9, 2024, Coherus BioSciences had 113,498,415 shares of common stock outstanding, with each share carrying one vote, adhering to a one-share-one-vote principle. During the 2024 Annual Meeting of Stockholders on May 29, 2024, three Class I directors were elected: Lee N. Newcomer, MD, Charles W. Newton, and Kimberly J. Tzoumakas. These directors secured their positions with a majority of votes cast and are slated to serve until the 2027 Annual Meeting. Broker non-votes did not influence the director election outcomes. The board also advocated for a 'FOR' vote regarding the divestiture of the UDENYCA® franchise, a proposal put forth for shareholder approval at a Special Meeting on March 11, 2025. Understanding the Coherus BioSciences leadership is key to grasping the company's strategic direction and Mission, Vision & Core Values of Coherus Biosciences.

Director Elections and Shareholder Votes

Director elections are determined by a majority of votes cast, excluding broker non-votes. Shareholder approval is required for significant corporate actions like divestitures.

• Board classified into three classes.
• Majority of votes cast determines director election.
• Broker non-votes do not impact director elections.
• Shareholder approval needed for divestitures.

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Coherus BioSciences has recently undergone a significant strategic shift, moving away from its biosimilar focus to concentrate on innovative oncology. This transition involved divesting its UDENYCA® franchise, impacting its operational structure and employee base. The company's ownership structure remains heavily influenced by institutional investors, indicating continued confidence from major financial entities.

The divestiture of the UDENYCA® franchise to Intas Pharmaceuticals Ltd. for up to $558.4 million, with an upfront payment of $483.4 million, is a pivotal development for Coherus BioSciences. This transaction is projected to extend the company's cash runway beyond two years, allowing for a dedicated focus on its immuno-oncology pipeline, notably LOQTORZI® (toripalimab-tpzi). This strategic move also led to a reduction in Coherus' headcount by approximately 30%, with around 155 employees remaining. The company's stock has experienced a notable decline, with a 37.01% decrease observed between July 31, 2024, and July 30, 2025, when the share price stood at $0.97. Despite this, analyst sentiment suggests a significant upside potential, with a median target price of $10.83 as of July 30, 2025. Coherus BioSciences is scheduled to release its Q1 2025 financial results on May 12, 2025, and its Q4 and full-year 2024 results on March 10, 2025. Understanding the Revenue Streams & Business Model of Coherus Biosciences provides further context to these recent developments and ownership trends.

Institutional Ownership Dominance

Institutional investors held approximately 69.62 million shares as of March 31, 2025. This significant stake underscores the substantial influence of major financial institutions on Coherus BioSciences' shareholder base.

Strategic Divestiture Impact

The sale of the UDENYCA® franchise is a key event, bolstering the company's financial position. This move allows for a concentrated investment in its promising oncology pipeline.

Analyst Outlook and Stock Performance

Despite recent stock price declines, analysts project a significant recovery, with a median target price of $10.83. This suggests potential for future growth and investor interest.

Upcoming Financial Disclosures

The upcoming financial reports for Q1 2025 and full-year 2024 are crucial for understanding the company's financial health. These disclosures will provide insights into the impact of recent strategic moves.

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