CHRS – PDUFA (Resubmission)

This is the 2nd time CHRS has attempted to submit this to the FDA, which always makes our ears perk up because the company has had to make an extra effort and is that much more motivated to get it right this time.  The “runup” period for these kinds of events can always be a lot of fun.  If the Runup doesn’t yield results of positive rumors, then the event itself might be worth playing.  The thing that a lot of traders try to avoid though is the good news that might lead to an offering.  So sometimes positive news on a PDUFA can lead to a slight sell off.  However, we have seen numerous companies explode on positive FDA news if the circumstances are just right, so a Runup Trader might hold a small bit of their trade for the event.

Afterglow traders might want to be careful, positive news, as mentioned above, can lead to offerings.  Knowing the cash position and cash burn rate of the company would be important.

Event PR: https://www.stocktitan.net/news/CHRS/coherus-and-junshi-biosciences-announce-fda-acceptance-of-7pe40kzpst1s.html