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Coherus Oncology, Inc. (NASDAQ:CHRS) announced the outcomes of its annual stockholder meeting held virtually on June 11, 2025. The meeting saw the election of three Class II directors and the ratification of Ernst & Young LLP as the company’s independent auditor for the fiscal year ending December 31, 2025.
A total of 75,584,254 shares were represented at the meeting, out of 115,922,573 shares outstanding as of the record date on April 24, 2025. The detailed voting results for the proposals are as follows:
Proposal 1: Election of Directors
The stockholders elected Jill O’Donnell-Tormey, Ph.D., Michael Ryan, and Ali J. Satvat to the Board of Directors. Each director nominee received a majority of the votes cast, with O’Donnell-Tormey receiving 32,769,503 votes for and 6,158,468 withheld; Ryan received 32,735,184 votes for and 6,192,787 withheld; and Satvat received 27,759,763 votes for and 11,168,208 withheld. There were 36,656,283 broker non-votes for each nominee.
Proposal 2: Ratification of Independent (LON:IOG) Registered Public Accounting Firm
Ernst & Young LLP was ratified as the independent registered public accounting firm for Coherus Oncology for the fiscal year 2025, with 74,500,950 votes for, 776,953 against, and 306,351 abstentions.
Proposal 3: Advisory Vote on Executive Compensation
The non-binding, advisory resolution to approve the compensation of the company’s named executive officers was approved with 19,179,927 votes for, 16,164,644 against, 3,583,400 abstentions, and 36,656,283 broker non-votes.
Proposal 4: Approval of Amendment to Employee Stock Purchase Plan
The amendment to the company’s 2014 Employee Stock Purchase Plan was approved with 27,741,397 votes for, 7,585,461 against, 3,601,113 abstentions, and 36,656,283 broker non-votes.
The results reflect the decisions of Coherus Oncology’s stockholders regarding the company’s governance and oversight. With analysts anticipating sales decline in the current year and two analysts recently revising earnings downward, these governance decisions come at a crucial time for the company. InvestingPro subscribers can access additional insights, including 6 more ProTips and a comprehensive Pro Research Report, which provides detailed analysis of the company’s financial health and future prospects. The information is based on a press release statement and InvestingPro data.
In other recent news, Coherus BioSciences Inc. reported its Q1 2025 earnings, revealing flat revenue at $7.3 million despite a 15% increase in patient demand. The company completed the divestiture of UDENYCA, which brought in $483 million, and anticipates $25 million in annualized savings from headcount reductions. Coherus launched Lactorzi, a new PD-1 inhibitor for nasopharyngeal carcinoma, and expects it to reach $150-200 million in annual sales within three years. The company is focusing on expanding Lactorzi’s indications and developing combination therapies. Coherus’ stock experienced a decline following the earnings announcement, reflecting investor concerns over future earnings potential. The company projects challenging times ahead, with negative EPS forecasts for upcoming quarters. Coherus plans to expand its market presence and educate physicians about Lactorzi’s benefits, aiming for it to become the standard of care in its market.
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