Why Coherus BioSciences Stock Popped Today
Shares of Coherus BioSciences (NASDAQ: CHRS) rose 9.4% on Thursday after the biotech resubmitted a biologic license application (BLA) supplement for a key product to the U.S. Food and Drug Administration (FDA) for review.
Coherus stock came under pressure late last month after the FDA issued a complete response letter (CRL) for the company's Udenyca On-Body biologics license application. That effectively held up Coherus' plans to commercialize Udenyca, its biosimilar to pegfilgrastim, which helps prevent infections in patients being treated for cancer.
But the issue was related to an ongoing review at a third-party manufacturing site, and Coherus was quick to point out that the FDA did not raise any concerns about Udenyca's labeling, efficacy, or safety.
Source Fool.com
