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Fly News Breaks for February 5, 2020
CHRS
Feb 5, 2020 | 07:27 EDT
The withdrawal of Coherus Biosciences' biosimilar Lucentis regulatory application is due to the physical move of manufacturing processing equipment within the same site, not an actual issue with the drug, Mizuho analyst Salim Syed tells investors in a research note. In addition, there is "very little in the stock" for biosimilar Lucentis to begin with, says the analyst. As such, while the headline reads negative, the stock impact should be "immaterial," contends Syed. The analyst keeps a Buy rating on Coherus Biosciences with a $43 price target.
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