May. 12 at 4:07 PM
$CHRS A brief history lesson for those new to the stock and impressed by the price targets. When I first invested in Dec. 2023 p/t's were also over
$10 and the stock was trading around
$2. Tori had just received FDA approval for NPC, rapid Tori expansion into other indications was expected using Junshi's P3 studies, CHRS' portfolio of biosimilars was ramping - w/Mark Cuban's backing, and CHRS's oncology pipeline was loaded with early stage candidates following Surface's acquisition. CHRS was previously a
$20+ stock, so looked promising enough.
Then, the CFO leaves, it became evident that Junshi's non-regionalized studies did not meet FDA standards, the biosimilar fad would pass with some products sold for losses and some sold for profits needed for Denny's SGA cash burn. SP fell to .67¢
Now, CHRS is left with Tori and Surface's molecules. Will Tori ever be a Keytruda competitor, as envisioned? Nope. Will the pipeline pay off? Maybe, but not before 2031. Expect a retest of .67
