Coherus Announces Full Repayment of Pharmakon Advisors $75M Term Loan
Portfolio Pulse from Benzinga Newsdesk
Coherus BioSciences has fully repaid its $75M term loan from Pharmakon Advisors and secured new financing arrangements, including a $38.7M term loan due May 2029 and a $37.5M royalty monetization deal based on future sales of LOQTORZI and UDENYCA.
May 09, 2024 | 12:46 pm
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POSITIVE IMPACT
Coherus BioSciences has repaid its $75M term loan and obtained new financing, indicating strong financial management and potential growth from LOQTORZI and UDENYCA sales.
Repaying a substantial loan demonstrates financial stability and confidence in future revenue streams, particularly from LOQTORZI and UDENYCA. The new financing arrangements suggest a strategic move to leverage future sales for immediate capital, potentially fueling further growth or R&D investments. This could be viewed positively by investors, reflecting well on Coherus's financial health and growth prospects.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100