Coherus Oncology (CHRS) Nasdaq Compliance Warning – Summary & Outlook
Taking a Look at Coherus Oncology's Recent Deficiency Notice.
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In this edition, we’re covering an important development from Coherus Oncology (CHRS) — a quiet Nasdaq compliance notice that may have bigger implications than it seems on the surface.
Coherus Oncology: Compliance Clock Started Ticking
After the close on July 3rd, CHRS filed an 8-K disclosing that it had received a Nasdaq deficiency notice for trading under $1.00 for 30 consecutive business days. This was widely expected given the prolonged weakness in the stock, but the timing — late on a Thursday before a long holiday weekend — suggests management wanted it to stay under the radar. The company now has 180 calendar days (until December 29, 2025) to get the stock back above $1, or else face delisting unless a reverse split might have to be enacted or an extension is granted.
While this sounds like routine administrative procedure (& it often is), we believe it quietly adds strategic pressure on CHRS management. The company has dramatically restructured over the past year — selling its biosim business, paying down debt, rebranding as Coherus Oncology, & banking cash — yet the stock trades well below cash value; also, valuing their pipeline at zero. With a ticking compliance clock, & clear undervaluation, we believe the buyout thesis gets even stronger here. CHRS is now one of the most attractively positioned oncology targets on the market. If an acquisition doesn’t materialize before year-end, we think a reverse split may be approved as a precaution but not necessarily used. In the meantime, stronger-than-expected Loqtorzi results in Q2 could be the organic catalyst that drives the stock back into compliance.
Either way, this remains a misunderstood & heavily discounted name — & now, time is starting to work in favor of a strategic resolution.
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