REDWOOD CITY, Calif. - Coherus BioSciences, Inc. (NASDAQ:CHRS) and ENB Therapeutics announced today that their respective cancer drugs, LOQTORZI and ENB-003, have been selected for a clinical trial aimed at treating platinum-resistant ovarian cancer. The trial is part of the Cancer Research Institute's (CRI) Immunotherapy Platform Study (iPROC).
The iPROC Drug Selection Committee (DSC), which comprises scientific experts, has endorsed the combination of LOQTORZI, an anti-PD-1 antibody, with ENB-003, which targets the endothelin B receptor (ETBR) implicated in the suppression of immune response in tumors. The study is designed to explore innovative treatments for drug-resistant cancers, with a focus on high-grade serous ovarian cancer.
John Stagg, Ph.D., Principal Investigator at the Centre Hospitalier de l’Université de Montréal and its affiliated Cancer Institute of Montreal, emphasized the importance of advancing this combination to clinical trials, supported by preclinical and clinical data. The iPROC study aims to rapidly advance promising drug combinations through a flexible platform trial design.
Rosh Dias, M.D., Chief Medical Officer at Coherus, expressed excitement about the potential of LOQTORZI when used in conjunction with novel mechanisms such as ETBR blockers. The selection by the CRI network is based on a substantial clinical evidence base for LOQTORZI, including positive phase 3 studies.
Jay Campbell of CRI highlighted the scientific evidence supporting LOQTORZI's inclusion in the network, aiming to advance clinically meaningful solutions. Dr. Sumayah Jamal, CEO of ENB Therapeutics, underlined the collaboration's goal to accelerate the development of innovative immunotherapy solutions.
Under a clinical supply agreement with CRI, Coherus will supply toripalimab-tpzi for combination treatment with ENB-003 to be investigated in the iPROC platform study. The IPROC clinical trial uses an adaptive platform study design, allowing the evaluation of multiple treatments within the same patient population.
LOQTORZI has been indicated in the U.S. for the treatment of metastatic or recurrent locally advanced nasopharyngeal carcinoma, both as a first-line treatment in combination with other drugs and as a single agent for certain patients. ENB-003 has shown promising results in combination with pembrolizumab in patients with metastatic platinum refractory/resistant ovarian cancer.
Coherus BioSciences is a commercial-stage biopharmaceutical company with a focus on cancer treatments, while ENB Therapeutics develops ETBR inhibitors to overcome resistance to immune-based therapies in solid tumors. The announcement is based on a press release statement from Coherus BioSciences.
InvestingPro Insights
In light of the recent announcement regarding Coherus BioSciences' involvement in the iPROC clinical trial, investors may find particular interest in the company's financial health and market performance. Coherus BioSciences (NASDAQ:CHRS) operates with a significant debt burden and is quickly burning through cash, according to InvestingPro Tips. These financial challenges are noteworthy as the company embarks on the next phase of clinical trials, which typically require substantial investment.
Despite these challenges, Coherus BioSciences has seen a significant return over the last week, with a price total return of 9.22%. This uptick could reflect market optimism about the potential success of LOQTORZI in upcoming clinical trials. However, analysts do not anticipate the company will be profitable this year, and Coherus has not been profitable over the last twelve months, as reflected by a negative P/E ratio of -0.89.
The company's market cap stands at 255.37M USD, and while the price has fallen significantly over the last year, with a 1 Year Price Total Return of -72.36%, the recent clinical developments could play a crucial role in its future stock performance. Coherus does not pay a dividend to shareholders, which may be a consideration for income-focused investors.
For those looking to delve deeper into Coherus BioSciences' financials and market prospects, InvestingPro offers additional insights and metrics. There are currently 6 more InvestingPro Tips available that can provide further guidance on the company's performance and outlook. To access these tips and enhance your investment strategy, visit https://www.investing.com/pro/CHRS and remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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