Coherus Oncology, Inc. Announces Closing of Public Offering of Common Stock

–The Offering was led by healthcare-dedicated investors including Janus Henderson Investors, HBM Healthcare Investments and Samsara BioCapital–

REDWOOD CITY, Calif., Feb. 17, 2026 (GLOBE NEWSWIRE) -- Coherus Oncology, Inc. (“Coherus” or the “Company”) (NASDAQ: CHRS), today announced the closing of an underwritten public offering of 28,600,000 shares of the Company’s common stock (the “Offering”). The shares of common stock were sold at a public offering price of $1.75 per share, before underwriting discounts and commissions. All shares in the Offering were sold by the Company. The gross proceeds to Coherus from the Offering were approximately $50.1 million, before deducting underwriting discounts and commissions and other offering expenses. The Company has granted the underwriters of the Offering a 30-day option to purchase up to an additional 4,290,000 shares of common stock at the public offering price, less the underwriting discounts and commissions, solely for the purpose of covering over-allotments.

The Offering was led by new investors Janus Henderson Investors, HBM Healthcare Investments and Samsara BioCapital.

“Over the last two years we strengthened our balance sheet, reduced our debt by over 80%, and transformed Coherus from a biosimilar company to a clinical-stage Biotech focused on innovative oncology. With this financing we make further progress in rebuilding our capitalization table to support our expanding clinical development programs and upcoming data readouts, while funding commercial efforts to increase market penetration and revenue generation. We believe the Company is well positioned for future success,” said Denny Lanfear, Chairman and Chief Executive Officer.

Coherus intends to use the net proceeds from the Offering to support the ongoing commercialization of LOQTORZI^® (toripalimab-tpzi), to continue clinical development of its product candidates, and for working capital and other general corporate purposes.

TD Cowen, Guggenheim Securities, and Oppenheimer & Co. acted as the joint bookrunners for the Offering.

The securities described above were offered by Coherus pursuant to an effective shelf registration statement on Form S-3 (File No. 333-291520) that was previously filed with the U.S. Securities and Exchange Commission (the “SEC”) on November 13, 2025. The Offering was made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A prospectus supplement and accompanying prospectus relating to and describing the terms of the Offering have been filed with the SEC and are available on the SEC’s website at www.sec.gov. Copies of the prospectus supplement and the accompanying prospectus relating to these securities may be obtained by request from: TD Securities (USA) LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at TDManualrequest@broadridge.com; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@guggenheimpartners.com; or Oppenheimer & Co. Inc. Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, NY 10004, by telephone at (212) 667-8055, or by email at EquityProspectus@opco.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Coherus Oncology, Inc.

Coherus Oncology is a fully integrated commercial-stage innovative oncology company with an approved next-generation PD-1 inhibitor, LOQTORZI^® (toripalimab-tpzi), and a pipeline that includes two mid-stage clinical candidates targeting liver, prostate, head & neck, colorectal and other cancers. The Company’s strategy is to grow sales of LOQTORZI in R/M nasopharyngeal carcinoma and advance the development of new indications for LOQTORZI in combination with both its pipeline candidates as well as through its partners.

Coherus’ innovative oncology pipeline includes multiple antibody immunotherapy candidates focused on enhancing the innate and adaptive immune responses to enable a robust antitumor response and enhance outcomes for patients with cancer. Tagmokitug is a highly selective cytolytic anti-CCR8 antibody currently in Phase 1b/2a studies in patients with advanced solid tumors, including head and neck squamous cell carcinoma, colorectal cancer, gastric cancer, and esophageal cancer. Casdozokitug is a novel IL-27 antagonistic antibody currently being evaluated in a Phase 2 study in patients with first-line hepatocellular carcinoma.

LOQTORZI^® is a registered trademark of Coherus Oncology, Inc.
©2026 Coherus Oncology, Inc. All rights reserved.

Forward-Looking Statements

This press release contains forward-looking statements. All statements other than statements of historical facts contained herein, including, without limitation, statements regarding the anticipated use of proceeds from the Offering and the expected benefits of the Offering, are forward-looking statements reflecting the current beliefs and expectations of Coherus’ management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent Coherus’ current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Among those risks and uncertainties are market conditions, including market interest rates, tariffs, the trading price and volatility of Coherus’ common stock, and risks relating to Coherus’ business, including those identified in the “Risk Factors” section of Coherus’ Annual Report on Form 10-K for the year ended December 31, 2024, in its subsequent Quarterly Reports on Form 10-Q and other filings with the SEC, as well as the prospectus supplement and accompanying prospectus relating to the Offering. The forward-looking statements included in this press release speak only as of the date of this press release, and Coherus does not undertake to update the statements included in this press release for subsequent developments, except as may be required by law.

Coherus Oncology Contact Information:

For Investors:
Carrie Graham
VP, Investor Relations & Advocacy
IR@coherus.com