Hong Kong King-Friend Industrial Co. Ltd.

– Net revenue of $65.0 million in Q2 2024 – – CHS-114 Phase 1 Study Recruitment Continues into Expansion Cohorts in Head and Neck Cancer in Combination with LOQTORZI – – Bryan McMichael Appointed as Chief Financial Officer – – Conference call today at 5:00 p.m. Eastern Time – REDWOOD CITY, Calif., Aug. 08, 2024 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (Coherus, Nasdaq: CHRS), today reported financial results for the quarter ended June 30, 2024 and recent business highlights: RECENT BUSINESS HIGHLIGHTS UDENYCA® RESULTS UDENYCA net product sales were $50.9 million in Q2 2024, an increase of 19% compared to $42.7 million in Q1 2024 and a 60% increase compared to $31.7 million in Q2 2023. Total unit demand increased 25% in Q2 2024 compared to Q1 2024, and 138% compared to Q2 2023.Based on data from IQVIA, UDENYCA franchise market share for Q2 2024 was 29.0%, an increase of 4 market share points from Q1 2024. LOQTORZI® LAUNCH UPDATE LOQTORZI, the first and only FDA-approved treatment for recurrent, locally advanced or metastatic nasopharyngeal carcinoma (NPC), commercially launched on January 2, 2024.LOQTORZI net sales in Q2 2024 of $3.8 million, with new patient uptake primarily in relapsed locally advanced and 1L metastatic disease, a potential driver of long-term revenue growth.LOQTORZI can now be ordered in all 33 National Comprehensive Cancer Network (NCCN) institutions.The Centers for Medicare and Medicaid Services granted LOQTORZI a product-specific, permanent J Code, which was implemented on July 1, 2024. ADVANCEMENT OF PROMISING IMMUNO-ONCOLOGY PIPELINE Clinical data from the dose escalation stage of the Phase 1 study of CHS-114, a highly selective cytolytic anti-CCR8 antibody, was presented at the 2024 ASCO Annual Meeting in June. These data showed selective depletion of peripheral CCR8+ regulatory T cells, establishing proof of mechanism for CHS-114, and an acceptable safety profile with no dose-limiting toxicities, and a disease control rate of 47% in heavily pretreated patients with solid tumors. Expansion cohorts evaluating CHS-114 as monotherapy and in combination with toripalimab are currently enrolling patients with advanced/metastatic head and neck squamous cell carcinoma (HNSCC).A Phase 2 study evaluating casdozokitug, an immune regulatory IL-27 antagonizing antibody, in combination with toripalimab and bevacizumab in treatment naïve patients with unresectable locally advanced or metastatic hepatocellular carcinoma is expected to begin enrolling patients in Q4 2024.An Investigational New Drug (IND) application for CHS-1000, a novel humanized Fc-modified IgG1 monoclonal antibody specifically targeting ILT4 (LILRB2), was filed with the U.S. Food and Drug Administration (FDA) in Q2 2024 and received clearance. Coherus plans to initiate a Phase 1 study in the coming months. “The first half of 2024 has been a period of disciplined execution of our strategy, which included improving our capital structure, advancing our innovative oncology pipeline and driving increasing sales of our commercial portfolio. We continue to streamline our operations, solidifying our focus on our oncology business,” said Denny Lanfear, Coherus’ Chairman and Chief Executive Officer. “Bryan McMichael, our newly appointed Chief Financial Officer, will play a key role on our management team as we further translate this oncology focus into shareholder value.” “I am honored to carry forward my work at Coherus in the role of Chief Financial Officer. The strength of the team, commercial portfolio, and pipeline gives me great confidence in the Company’s future,” said Bryan McMichael, Coherus’ Chief Financial Officer. “I look forward to continuing in my partnership with Denny, the Board, and other members of management to execute our strategy and bring value to shareholders.” SECOND QUARTER 2024 FINANCIAL RESULTS Net revenue was $65.0 million during the three months ended June 30, 2024, and included $50.9 million of net sales of UDENYCA, $3.8 million of net sales of LOQTORZI, which was launched on January 2, 2024, $3.8 million of net sales of YUSIMRY, which was divested to Hong Kong King-Friend Industrial Company Ltd. (“HKF”) on June 26, 2024, and other revenue of $6.5 million which included the $6.3 million up-front cash payment received for the outlicense to Apotex, Inc. of the Canadian rights to LOQTORZI on June 27, 2024. Net revenue was $58.7 million during the three months ended June 30, 2023 and included $26.7 million in revenues for CIMERLI, which was divested on March 1, 2024. Net revenue was $142.0 million and $91.2 million for the six months ended June 30, 2024 and 2023, respectively. Total net revenues attributable to the Company’s divested products, CIMERLI and YUSIMRY, during the first half of 2024 and 2023 were $35.9 million and $32.9 million, respectively. Cost of goods sold (COGS) was $28.4 million and $24.8 million during the three months ended June 30, 2024 and 2023, respectively, and $63.0 million and $41.7 million during the six months ended June 30, 2024 and 2023, respectively. UDENYCA COGS included a mid-single digit royalty on net sales which expired on July 1, 2024. The increases in COGS in both 2024 periods were primarily driven by increased unit volumes, and in the second quarter of 2024, a $4.5 million fee for a contract change with a CMO, partially offset by a $9.7 million decrease in royalty costs in the second quarter of 2024, due to the CIMERLI divestiture on March 1, 2024. Research and development (R&D) expenses were $22.0 million and $23.3 million for the three months ended June 30, 2024 and 2023, respectively, and $50.4 million and $57.4 million for the six months ended June 30, 2024 and 2023, respectively. The decreases were primarily due to savings from reduced headcount and lower costs related to biosimilar products, partially offset by increased costs for development of casdozokitug and CHS-114. Selling, general and administrative (SG&A) expenses were $35.2 million and $45.1 million during the three months ended June 30, 2024 and 2023, respectively, and $91.7 million and $94.3 million during the six months ended June 30, 2024 and 2023, respectively. The declines in SG&A compared to the prior year periods were driven primarily by lower headcount. The decrease for the six-month period was partially offset by the net $6.8 million charge in the first quarter of 2024 associated with the full write-off of the outlicense intangible asset and associated release of the CVR liability related to NZV930, obtained in the Surface Oncology, Inc. acquisition. Gain on Sale Transactions, Net which included the divestiture of the YUSIMRY franchise, which closed during the three months ended June 30, 2024, was $22.9 million, and reflects total cash proceeds of $40.0 million, net of assets transferred to HKF, liabilities derecognized, and transactions costs of $0.9 million. Gain on Sale Transactions, net for the first half of 2024 was $177.7 million and included a $154.8 million gain on the divestiture of the CIMERLI franchise, which closed during the three months ended March 31, 2024. There was no gain on Sale Transactions in the first half of 2023. Interest expense was $5.3 million and $9.9 million during the three months ended June 30, 2024 and 2023, respectively, and $16.5 million and $19.7 million during the six months ended June 30, 2024 and 2023, respectively. The declines in both periods were primarily due to prepaying $175.0 million of the principal amount of the senior secured term loan facility that was entered into on January 5, 2022 on April 1, 2024 and prepaying the remaining $75.0 million principal amount on May 8, 2024. This was offset by interest on the $38.7 million principal amount of the new term loan facility and the revenue participation right purchase and sale agreement, both commencing May 8, 2024, as well as an average higher variable rate in the first half of 2024 compared to the first half of 2023. Net loss for the second quarter of 2024 was $12.9 million, or $(0.11) per share on a diluted basis, compared to a net loss of $42.9 million, or $(0.49) per share on a diluted basis for the same period in 2023. Net income for the first half of 2024 was $90.0 million, or $0.73 per share on a diluted basis, compared to a net loss of $118.6 million, or $(1.42) per share on a diluted basis for the first half of 2023. Non-GAAP net loss for the second quarter of 2024 was $16.4 million, or $(0.14) per share on a diluted basis, compared to $32.8 million, or $(0.38) per share for the same period in 2023. Non-GAAP net loss for the first half of 2024 was $52.2 million, or $(0.46) per share on a diluted basis, compared to $92.3 million, or $(1.11) per share for the first half of 2023. See “Non-GAAP Financial Measures” below for a discussion on how Coherus calculates non-GAAP net loss and a reconciliation to the most directly comparable GAAP measures. Cash, cash equivalents and investments in marketable securities were $159.2 million as of June 30, 2024, compared to $117.7 million as of December 31, 2023. 2024 R&D and SG&A Expense Guidance Coherus projects combined R&D and SG&A expenses for 2024 to be in the range of $250 to $265 million. This guidance includes approximately $40 million of stock-based compensation expense and excludes the effects of acquisitions, collaborations, investments, divestitures including expenses incurred on behalf of and reimbursed by Sandoz and HKF to satisfy Coherus’ obligations under the transition services agreements with those entities, restructuring, the exercise of rights or options related to collaboration programs, and any other transactions or circumstances not yet identified or quantified. This guidance is subject to a number of risks and uncertainties. See Forward-Looking Statements described in the section below. Conference Call Information When: Thursday, August 8, 2024, starting at 5:00 p.m. Eastern Daylight Time To access the conference call, please pre-register through the following link to receive dial-in information and a personal PIN to access the live call: https://register.vevent.com/register/BI9dd3f986eeb7428485a66ce1fb34999fPlease dial in 15 minutes early to ensure a timely connection to the call. Webcast: https://edge.media-server.com/mmc/p/kguryzuk An archived webcast will be available on the “Investors” section of the Coherus website at https://investors.coherus.com/events-presentations. About Coherus BioSciences Coherus is a commercial-stage biopharmaceutical company focused on the research, development and commercialization of innovative immunotherapies to treat cancer. Coherus is developing an innovative immuno-oncology pipeline that is expected to be synergistic with its proven commercial capabilities in oncology. Coherus’ immuno-oncology pipeline includes multiple antibody immunotherapy candidates focused on enhancing the innate and adaptive immune responses to enable a robust immunologic response and enhance outcomes for patients with cancer. Casdozokitug is a novel anti-IL-27 antibody currently being evaluated in two ongoing clinical studies: a Phase 1/2 study in advanced solid tumors and a Phase 2 study in hepatocellular carcinoma. CHS-114 is a highly selective, competitively positioned, ADCC-enhanced anti-CCR8 antibody currently in a Phase 1 study as a monotherapy in patients with advanced solid tumors. CHS-1000 is a novel humanized Fc-modified IgG1 monoclonal antibody specifically targeting ILT4 (LILRB2). An IND application has been accepted by the FDA and Coherus plans to initiate a Phase 1 study in the coming months. Coherus markets LOQTORZI® (toripalimab-tpzi), a novel next-generation PD-1 inhibitor, and UDENYCA® (pegfilgrastim-cbqv), a biosimilar of Neulasta®. Neulasta® is a registered trademark of Amgen Inc. Forward-Looking Statements Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding Coherus’ expectations about identifying synergies between its I-O pipeline and its commercial operations; Coherus’ expected timing for the start of a Phase 1 study for CHS-1000; Coherus’ expected timing for enrolling patients in a Phase 2 study evaluating casdozokitug; Coherus’ future projections for R&D and SG&A expenses; and Coherus’ expectations about long term revenue growth. Such forward-looking statements involve substantial risks and uncertainties that could cause Coherus’ actual results, performance or achievements to differ significantly from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the risks and uncertainties inherent in the clinical drug development process; risks related to Coherus’ existing and potential collaboration partners; risks of Coherus’ competitive position; the risks and uncertainties of the regulatory approval process, including the speed of regulatory review and the timing of Coherus’ regulatory filings; the risk of FDA review issues; the risk that Coherus is unable to complete commercial transactions and other matters that could affect the availability or commercial potential of Coherus’ products and product candidates; and the risks and uncertainties of possible litigation. All forward-looking statements contained in this press release speak only as of the date of this press release. Coherus undertakes no obligation to update or revise any forward-looking statements. For a further description of the significant risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Coherus’ business in general, see Coherus’ quarterly filing on Form 10-Q for the fiscal quarter ended June 30, 2024 filed with the Securities and Exchange Commission on or about the date of this press release, including the section therein captioned “Risk Factors” and in other documents Coherus files with the Securities and Exchange Commission. Coherus’ results for the fiscal quarter ended June 30, 2024 are not necessarily indicative of its operating results for any future periods. UDENYCA®, UDENYCA® ONBODY™, and LOQTORZI®, whether or not appearing in large print or with the trademark symbol, are trademarks of Coherus, its affiliates, related companies or its licensors or joint venture partners unless otherwise noted. Trademarks and trade names of other companies appearing in this press release are, to the knowledge of Coherus, the property of their respective owners. Coherus Contact Information:For Investors:Jami TaylorHead of Investor RelationsIR@coherus.com For Media:Jodi SieversVP, Corporate Communicationsmedia@coherus.com Coherus BioSciences, Inc.Condensed Consolidated Statements of Operations(in thousands, except share and per share data)(unaudited) Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023Net revenue$64,979 $58,716 $142,042 $91,152 Costs and expenses: Cost of goods sold 28,368 24,848 62,954 41,722 Research and development 21,955 23,267 50,425 57,421 Selling, general and administrative 35,165 45,144 91,697 94,297 Total costs and expenses 85,488 93,259 205,076 193,440 Loss from operations (20,509) (34,543) (63,034) (102,288)Interest expense (5,334) (9,943) (16,450) (19,655)Gain on Sale Transactions, net 24,085 — 177,732 — Loss on debt extinguishment (12,630) — (12,630) — Other income (expense), net 1,467 1,617 4,336 3,345 Income (loss) before income taxes (12,921) (42,869) 89,954 (118,598)Income tax provision — — — — Net income (loss)$(12,921) $(42,869) $89,954 $(118,598) Net income (loss) per share: Basic$(0.11) $(0.49) $0.79 $(1.42)Diluted$(0.11) $(0.49) $0.73 $(1.42) Weighted-average number of shares used in computing net income (loss) per share: Basic 114,819,965 87,269,614 113,784,636 83,469,247 Diluted 114,819,965 87,269,614 126,174,802 83,469,247 Coherus BioSciences, Inc.Condensed Consolidated Balance Sheets(in thousands)(unaudited) June 30, December 31, 2024 2023Assets Cash and cash equivalents$159,240 $102,891 Investments in marketable securities — 14,857 Trade receivables, net 175,251 260,522 TSA receivables, net 138,317 — Inventory 112,041 130,100 Intangible assets, net 55,455 71,673 Other assets 34,551 49,561 Total assets$674,855 $629,604 Liabilities and Stockholders’ Deficit Accrued rebates, fees and reserve$177,455 $169,645 TSA payables and other accrued liabilities 133,536 — Term loans 36,541 246,481 Convertible notes 227,555 226,888 Other liabilities 183,876 180,015 Total stockholders' deficit (84,108) (193,425)Total liabilities and stockholders’ deficit$674,855 $629,604 Coherus BioSciences, Inc.Condensed Consolidated Statements of Cash Flows(in thousands)(unaudited) Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023Cash, cash equivalents and restricted cash at beginning of the period$260,227 $16,585 $103,343 $63,987 Net cash provided by (used in) operating activities 59,734 (38,915) 12,968 (107,647) Proceeds from maturities of investments in marketable securities — 47,250 6,200 64,750 Proceeds from sale of investments in marketable securities — 13,282 8,688 13,282 Cash received from CIMERLI sale — — 187,823 — Cash received from YUSIMRY sale 40,000 — 40,000 — Milestone based license fee payment to Junshi Biosciences (12,500) — (12,500) — Purchases of investments in marketable securities — (19,507) — (19,507)Other investing activities, net 156 340 208 366 Net cash provided by investing activities 27,656 41,365 230,419 58,891 Proceeds from 2029 Term Loan, net of debt discount & issuance costs 37,120 — 37,120 — Proceeds from Revenue Purchase and Sale Agreement, net of issuance costs 36,495 — 36,495 — Proceeds from issuance of common stock under ATM Offering, net of issuance costs (52) (74) 1,455 6,761 Proceeds from issuance of common stock under Public Offering, net of issuance costs — 53,625 — 53,625 Proceeds from issuance of common stock upon exercise of stock options — 14 291 117 Proceeds from purchase under the employee stock purchase plan 685 1,337 685 1,337 Repayment of 2027 Term Loans, premiums and fees (260,387) — (260,387) — Taxes paid related to net share settlement (1,711) (305) (2,456) (3,086)Other financing activities (75) (272) (241) (625)Net cash (used in) provided by financing activities (187,925) 54,325 (187,038) 58,129 Net increase (decrease) in cash, cash equivalents and restricted cash (100,535) 56,775 56,349 9,373 Cash, cash equivalents and restricted cash at end of the period$159,692 $73,360 $159,692 $73,360 Reconciliation of cash, cash equivalents, and restricted cash Cash and cash equivalents$159,240 $72,920 $159,240 $72,920 Restricted cash balance 452 440 452 440 Cash, cash equivalents and restricted cash$159,692 $73,360 $159,692 $73,360 Non-GAAP Financial Measures To supplement the financial results presented in accordance with GAAP, Coherus has also included in this press release non-GAAP net loss, and the related per share measures, which exclude from net income (loss), and the related per share measures, stock-based compensation expense, certain acquisition-related expenses, amortization of intangible assets, gain on divestiture, impairments of intangible assets, contingent consideration, loss on debt extinguishment and restructuring charges related to our reduction in workforce. These non-GAAP financial measures are not prepared in accordance with GAAP, do not serve as an alternative to GAAP and may be calculated differently than similar non-GAAP financial information disclosed by other companies. Coherus encourages investors to carefully consider its results under GAAP, as well as its supplemental non-GAAP financial information and the reconciliation between these presentations set forth below, to more fully understand Coherus’ business. Coherus believes that the presentation of these non-GAAP financial measures provides useful supplemental information to, and facilitates additional analysis by, investors. In particular, Coherus believes that these non-GAAP financial measures, when considered together with its financial information prepared in accordance with GAAP, can enhance investors’ and analysts’ ability to meaningfully compare Coherus’ results from period to period, and to identify operating trends in Coherus’ business. Coherus also regularly uses these non-GAAP financial measures internally to understand, manage and evaluate its business and to make operating decisions. Coherus BioSciences, Inc.Reconciliation of GAAP Net Income (Loss) to Non-GAAP Net Loss(in thousands, except share and per share data)(unaudited) Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023GAAP net income (loss)$(12,921) $(42,869) $89,954 $(118,598)Adjustments: Stock-based compensation expense(1) 7,231 10,077 14,550 21,410 Gain on Sale Transactions, net (24,085) — (177,732) — Loss on debt extinguishment 12,630 — 12,630 — Impairment of out-license asset and remeasurement of CVR liability, net — — 6,772 — Restructuring charges related to reduction in workforce(1) — — — 4,876 Amortization of intangible assets 704 — 1,634 — Non-GAAP net loss$(16,441) $(32,792) $(52,192) $(92,312) GAAP Net income (loss) per share, basic$(0.11) $(0.49) $0.79 $(1.42)Net income (loss) per share, diluted$(0.11) $(0.49) $0.73 $(1.42)Shares used in computing basic net income (loss) per share 114,819,965 87,269,614 113,784,636 83,469,247 Shares used in computing diluted net income (loss) per share 114,819,965 87,269,614 126,174,802 83,469,247 Non-GAAP Net loss per share, basic and diluted$(0.14) $(0.38) $(0.46) $(1.11)Shares used in computing basic and diluted net loss per share 114,819,965 87,269,614 113,784,636 83,469,247 (1) In the six months ended June 30, 2023, stock-based compensation of $1.0 million was classified within Restructuring charges related to reduction in workforce.

Today, a brief rundown of news from PTC Therapeutics, Esperion Therapeutics and Coherus Biosciences, as well as updates from Sanofi, Lantheus Holdings and Forbion that you may have missed.Drug regulators in Europe have, for a third time, recommended against renewing the approval of PTC TherapeuticsDuchenne muscular dystrophy medicine Translarna. The European Medicines Agency panel had been asked to re-evaluate PTCs application after the European Commission, in an unusual step, rejected its recommendation and suggested it consider data from patient registries and real-world use. That evidence still doesnt prove Translarna is effective, the panel said Friday. PTC will again seek another opinion, during which time Translarna will remain on the market in Europe. Ben FidlerEsperion Therapeutics said Friday it has sold rights to sales royalties in Europe for its cholesterol-lowering pill bempedoic acid to Omers Life Sciences for $305 million.Omers will own those royalties until its received 1.7-times its initial investment, after which Esperion will reclaim rights. Esperion will use some of the proceeds to pay off a loan from Oberland Capital, and is still eligible to receive up to $300 million in sales-based milestone payments under a licensing deal with Daiichi Sankyo. Jonathan GardnerCoherus BioSciences is selling rights to Yusimry, a biosimilar version of Humira, to Hong Kong King-Friend Industrial for $40 million in cash. The biosimilaris the second Coherus has divested this year as part of a plan to focus its business on branded cancer drugs. It won U.S. approval for its first, a cancer immunotherapy called Loqtorzi, in 2023. Jonathan GardnerSanofi is investing $40 million in Vigil Neuroscience, a biotech developing drugs for neurodegenerative diseases. The deal gives Sanofi an exclusive right of first negotiation to license from Vigil an experimental antibody aimed at the protein TREM2. Vigil has one such medicine in early-stage testing for Alzheimers disease treatment. The biotech, which went public in 2022but has lost much of its value since, said the deal will extend its cash runway into 2026. Gwendolyn WuLantheus Holdings, a developer of radiopharmaceutical drugs and diagnostics, paid $35 million to acquire rights to what it calls a radiotheranostic pair from Life Molecular Imaging. The pair consists of a lutetium-based treatment and a gallium-based diagnostic for prostate cancer, both aimed at the gastrin-releasing peptide receptor. Discovered at the Universities Bern and Basel, the pair was initially developed by Bayer and then licensed to Life Molecular. Lantheus plans to start a Phase 1/2a study of the radiopharmaceutical next year, with the gallium-based agent used as a companion diagnostic. Ned PagliaruloEuropean venture capital firm Forbion has hired former Dyne Therapeutics CEO Josh Brumm to help expand its presence in the U.S. Brumm will serve as a general partner and support Forbions current portfolio companies as well as source new opportunities in the U.S. and Europe, the firm said Thursday. Though Forbion is based in the Netherlands, about 30% of its investments are in the U.S. and Canada. Gwendolyn Wu '

CHICAGO, IL, USA I June 27, 2024 I Meitheal Pharmaceuticals, Inc. (“Meitheal”), a fully integrated biopharmaceutical company based in Chicago and focused on the development and commercialization of generic injectables, fertility, biologic, and branded products, today announced it has gained exclusive commercial rights in the U.S. to YUSIMRY ® (adalimumab-aqvh), a biosimilar of Humira ® (adalimumab), through an exclusive license and supply agreement with its parent company, Hong Kong King-Friend Industry Co., Ltd. (“HKF”). “The licensing of YUSIMRY ® is a pivotal moment for Meitheal, solidifying our foothold in the biosimilars market and providing us with a high-value asset with the potential for robust growth in the coming years,” said Tom Shea, Chief Executive Officer of Meitheal Pharmaceuticals. “With our expertise across research, manufacturing, and commercialization, Meitheal is well-positioned to enhance patient access to high-quality biosimilars like YUSIMRY ® while continuing to advance its clinical and commercial development.” HKF has acquired worldwide rights to YUSIMRY ® through an asset purchase agreement with Coherus BioSciences, Inc. Under the agreement, HKF gains substantially all assets related to YUSIMRY ® , including any results of development and regulatory activities, in exchange for an upfront cash payment of $40,000,000. The closings of both the asset purchase agreement and Meitheal’s exclusive licensing agreement with HKF are effective immediately, subject to standard conditions and approvals. “Adalimumab is a critical medication for many Americans living with autoimmune conditions, and we look forward to continuing to deliver YUSIMRY ® , a more affordable option to Humira ® , to patients at a fair and sustainable price,” said Brian McCarthy, Meitheal Senior Vice President of Specialty. “With adalimumab biosimilars recently gaining traction, YUSIMRY ® is positioned to meet the ongoing demand for accessible treatment options due to key macro forces and the strategic investments being made in its production and commercialization.” In recent years, Meitheal and its parent company HKF have made multiple investments to expand the Company’s biologics portfolio and capabilities. This new, exclusive licensing agreement for YUSIMRY ® adds a fifth biosimilar and the first on-market biosimilar to Meitheal’s portfolio. Meitheal’s parent company and related entities have invested over $300 million in capital and R&D in recent years to support sustainable product supply, including investing $30 million in a monoclonal antibody drug substance facility. “We are pleased to have acquired the rights to this critical option for patients and are confident that Meitheal is best positioned to deliver fairly priced YUSIMRY ® to U.S. patients in need,” said Eric Tang, President of HKF. “We remain focused on strategic investments in the important biosimilars market and we look forward to a continued partnership with Meitheal to support accessible healthcare solutions.” YUSIMRY ® is currently approved by the U.S. Food and Drug Administration (“FDA”) in nine different indications as a biosimilar of Humira ® , including in both prefilled syringe (PFS) and autoinjector presentations. As a top-selling pharmaceutical for multiple inflammatory diseases, demand for adalimumab products remains high. Meitheal will continue the development of both pediatric presentations and a high concentration (100mg/mL) formulation of YUSIMRY ® . Meitheal will work closely with Coherus to ensure a seamless transition of existing YUSIMRY ® operations, including the existing and comprehensive support hub for patients and healthcare providers. ABOUT YUSIMRY ® YUSIMRY ® (adalimumab-aqvh), a biosimilar of Humira ® (adalimumab), is a tumor necrosis factor (“TNF”) blocker indicated to reduce the signs and symptoms of rheumatoid arthritis, juvenile idiopathic arthritis, psoriatic arthritis, and ankylosing sponddylitis, and to treat Crohn’s disease, ulcerative colitis, plaque psoriasis, hidradenitis suppurativa, and uveitis. INDICATIONS Limitations of Use: The effectiveness of YUSIMRY has not been established in patients who have lost response to or were intolerant to TNF blockers. *Biosimilar means that the biological product is approved based on data demonstrating that it is highly similar to an FDA-approved biological product, known as a reference product, and that there are no clinically meaningful differences between the biosimilar product and the reference product. Biosimilarity of YUSIMRY has been demonstrated for the condition(s) of use (e.g., indication(s), dosing regimen(s)), strength(s), dosage form(s), and route(s) of administration described in its Full Prescribing Information. Please see Full Prescribing Information , including Boxed Warning and Medication guide ABOUT MEITHEAL PHARMACEUTICALS Founded in 2017 and based in Chicago, Meitheal Pharmaceuticals is focused on the development and commercialization of generic injectable medications and, as of 2022, has expanded its focus to include fertility, biologic, and branded products. Meitheal currently markets over 55 US Food and Drug Administration (FDA)-approved products across numerous therapeutic areas including anti-infectives, oncolytics, intensive care, and fertility. As of the end of May 2024, Meitheal, directly or through its partners, has over 20 products in the research and development phase, 14 products planned for launch in 2024, and an additional 19 products under review by the FDA. Meitheal’s mission is to provide easy access to fairly priced products through robust manufacturing, consistent supply, and rapid response to our customers’ needs. Ranked among the top 100 Crain’s Best Places to Work in Chicago, Meitheal emulates the traditional Irish guiding principle we are named for — Meitheal (Mee·hall): working together toward a common goal, for the greater good. Learn more about who we are and what we do at www.meithealpharma.com . ABOUT HONG KONG KING-FRIEND INDUSTRIAL COMPANY (HKF) Hong Kong King-Friend Industrial Company is a wholly owned subsidiary of NKF, founded in 2010. ABOUT NANJING KING-FRIEND BIOPHARMACEUTICAL COMPANY (NKF) Nanjing King-Friend Biochemical Pharmaceutical Co., Ltd. (NKF) is a China-based company principally engaged in the research and development, production and sales of Active Pharmaceutical Ingredients (API) and Finished Dosage Form (FDF). Established in 1986 as one of world leading manufacturers of heparin related APIs, NKF has grown into a fully integrated API and FDF manufacturer in multiple therapeutic areas including critical care and oncology. With three U.S. FDA approved manufacturing sites in China and more than 500 employees, including more than 100 dedicated research and development experts, NKF strives to meet patient needs globally with market presence in the U.S., China, EU and across the world. The Company is publicly listed on Shanghai Stock Exchange with a market capitalization over U.S. $3.0 billion. ABOUT COHERUS BIOSCIENCES Coherus is a commercial-stage biopharmaceutical company focused on the research, development and commercialization of innovative immunotherapies to treat cancer. Coherus is developing an innovative immuno-oncology pipeline that is expected to be synergistic with its proven commercial capabilities in oncology. Coherus’ immuno-oncology pipeline includes multiple antibody immunotherapy candidates focused on enhancing the innate and adaptive immune responses to enable a robust antitumor immunologic response and enhance outcomes for patients with cancer. Casdozokitug is a novel IL-27 antagonistic antibody currently being evaluated in two ongoing clinical studies: a Phase 1/2 study in advanced solid tumors and a Phase 2 study in hepatocellular carcinoma. CHS-114 is a highly selective, competitively positioned, cytolytic anti-CCR8 antibody currently in a Phase 1 study in patients with advanced solid tumors. CHS-1000 is a preclinical candidate targeting immune-suppressive mechanisms via the novel pathway ILT4. Coherus markets LOQTORZI ® (toripalimab-tpzi), a novel next-generation PD-1 inhibitor and UDENYCA ® (pegfilgrastim-cbqv), a biosimilar of Neulasta ® (pegfilgrastim). SOURCE: Meitheal Pharmaceuticals