What's Going On With Coherus BioSciences Stock?
Portfolio Pulse from Erica Kollmann
Coherus BioSciences, Inc. (NASDAQ:CHRS) shares are trading higher after the company announced the FDA-approval of Loqtorzi, a treatment for recurrent or metastatic nasopharyngeal carcinoma. This approval is a significant event for Coherus, marking it as an innovative oncology company. The company's shares have attracted attention from retail investors and short-sellers, with CHRS being one of the top trending tickers on Yahoo Finance. The stock's trading volume has significantly increased, with more than 13.7 million shares traded compared to the 100-day average of 2.853 million shares.
October 30, 2023 | 3:04 pm
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POSITIVE IMPACT
Coherus BioSciences' stock is trading higher following the FDA-approval of its new treatment, Loqtorzi. The increased trading volume and attention from investors suggest a positive short-term impact on the stock.
The FDA-approval of Loqtorzi is a significant milestone for Coherus BioSciences, marking it as an innovative player in the oncology field. This news has attracted significant attention from investors, leading to a surge in trading volume. This increased interest and the potential market for the new treatment suggest a positive short-term impact on the company's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100