Coherus BioSciences shares are trading lower after the company announced it will acquire Surface Oncology. The company also affirmed FY23 guidance and issued Q2 guidance.
Portfolio Pulse from Benzinga Newsdesk
Coherus BioSciences is acquiring Surface Oncology and has affirmed its FY23 guidance while issuing Q2 guidance. This announcement has led to a decline in Coherus BioSciences' share price.
June 16, 2023 | 3:20 pm
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NEGATIVE IMPACT
Coherus BioSciences' shares are trading lower after announcing the acquisition of Surface Oncology and affirming FY23 guidance.
The acquisition announcement has led to a decline in Coherus BioSciences' share price, likely due to the market's uncertainty about the impact of the acquisition on the company's financials and future growth. The affirmation of FY23 guidance and issuance of Q2 guidance may not have been enough to offset the negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100