Why Coherus BioSciences Stock Is Sinking Today

Shares of Coherus BioSciences (NASDAQ: CHRS) were sinking 8.6% lower as of 11:14 a.m. ET on Tuesday. The decline followed a nice pop for the stock on Monday after Coherus announced it was selling its Cimerli ophthalmology franchise to Sandoz Group.

This deal with Sandoz will allow Coherus to pocket $170 million in cash. The biotech will also receive additional money for its Cimerli product inventory.

It might seem that investors are conflicted about Coherus' deal to sell Cimerli to Sandoz with a big jump on the news followed immediately by a sell-off. That could be the case.

Source Fool.com