Jan. 10 Quick Takes: Coherus ends TIGIT deal with Junshi

Coherus Biosciences Inc. (NASDAQ:CHRS) disclosed that it is terminating a deal with Shanghai Junshi Biosciences Co. Ltd. (Shanghai:688180; HKEX:1877) and returning rights to TIGIT inhibitor CHS-006/JS006. Coherus had paid $35 million to exercise an option in early 2022 giving it U.S. and Canadian rights to the program, which is in Phase I testing as monotherapy and in combination with PD-1 inhibitor Tuoyi/Loqtorzi toripalimab, on which the companies remain partnered. Coherus said it has reset its priorities following its acquisition of Surface Oncology Inc., announced in June 2023 and completed in September.

After a second examination by EMA’s CHMP yielded a positive recommendation in November, the European Commission has approved Krazati adagrasib from Mirati Therapeutics Inc. (NASDAQ:MRTX) to treat non-small cell lung cancer patients with a KRAS G12C mutation. The committee had initially rebuffed Mirati’s MAA, but upon further review concluded that available data did show a benefit to patients. Bristol Myers Squibb Co. (NYSE:BMS) is acquiring Mirati for $4.8 billion in a deal expected to close this half...