Coherus Oncology Plans Biosimilar Divestiture and Announces Special Dividend

Coherus Biosciences Inc. (NASDAQ:CHRS), a biotech company specializing in oncology, announced on August 17, 2026 a special dividend in the form of Contingent Value Rights (CVR) and plans to immediately put its historical biosimilar assets up for sale. The Contingent Value Rights – conditional value rights that grant shareholders additional payments under certain conditions – relate to the company's biosimilar business segment.

Strategic Realignment Towards Oncology Business

With the announced divestiture of legacy biosimilar assets, Coherus Oncology is executing a strategic separation from its historical biosimilar business. Biosimilars are biotechnologically manufactured copy products of already-approved biologics that come to market at lower costs after patent expiration. The special dividend in the form of CVRs is intended to enable shareholders to participate in future revenues from the divestiture process.

The announcement came just twelve days after the publication of second quarter 2026 earnings results. In the earnings call on August 5, 2026, the company had reported on business developments.

LOQTORZI Sales Grow 15 Percent in Second Quarter

According to second quarter 2026 figures, Coherus recorded 15 percent revenue growth with its oncology product LOQTORZI. The company is also advancing the development of its oncology pipeline. At the same time, the company had to manage a significant decline in liquid assets during the reporting period and continues to carry historical liabilities from the biosimilar business.

Analyst Lowers Price Target, Reaffirms Buy Rating

On August 7, 2026, Guggenheim analyst Paul Jeng reduced Coherus Oncology's price target from $12 to $10, but maintained the buy rating. The adjustment followed the Q2 results and reflects changed expectations.

Company Background

Coherus Oncology has evolved from a company originally focused on biosimilars into an oncology specialist. The announced divestiture of biosimilar assets marks another step in this transformation. The company is listed on the NASDAQ technology exchange under the ticker CHRS.