Coherus is a promising company that did a bad borrowing and has more than paid the price. Its convertible bondholders created a short hedge and have inflicted massive damage on the company's SP. Coherus sold an asset to pay off that debt, which should lead to a massive muting of the short attack and, in all likelihood, violent upward moves as the 30% short interest unwinds.
Coherus has an FDA-approved PD-1 inhibitor, considered to be one of the best in the world. It also has a pipeline including an IL-27 inhibitor which is not only powerful and safe but appears to have increased effect over time as well as a great usefulness as a combination treatment.
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