JPMorgan analyst Chris Schott said that while today's news from Coherus Biosciences of a complete response letter on CHS-1701 is "clearly disappointing," the letter appears "very much addressable." The FDA is requesting reanalysis of a subset of samples using a more sensitive immunogenicity assay, which likely will result in a one year delay in approval, Schott told investors earlier in a research note. He notes the FDA did not request additional clinical studies. Schott continues to believe CHRS-1701 will be one of the first approved biosimilar versions of Neulasta. He views today's selloff in Coherus shares as an overreaction and keeps an Overweight rating on the name. The analyst sees upside to $30 per share assuming CHS-1701 gets approved in 2018. Coherus in afternoon trading is down 27% to $14.98.