Slides
Page 1
Tagmokitug CCR8+ Treg Depleter Interim Clinical Update October 2026
Page 2
©2026 Coherus Oncology, Inc. Forward-Looking Statements Except for the historical information contained herein, the matters set forth in this presentation and any accompanying comme ntary from the management of Coherus Oncology, Inc. (“Coherus”) are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this presentation may be identified by the use of words such as “anticipate,” “may,” “will,” “should,” “expect,” “could,” “intend,” “project,” “target,” “estimate,” “predict,” or “potential” or the negative of these terms or other similar expressions. These statements include, but are not limited to statements about the development plan for tagmokitug; ability of any of Coherus’s pipeline product candidates to be first-to-market, first-to-data or first in-class or best in class; the initiation, timing and progress of preclinical and clinical studies; future data readouts or catalysts based on the clinical trials of Coherus; market size, market value, a ddressable market or opportunity and the number of patients or incidence for particular indications; standard of care expectations; future collabo rations; the degree of unmet need for particular indications; and the assumptions underlying or relating to such statements. Such forward-looking statements involve substantial risks and uncertainties that could cause Coherus’s actual results, performan ce 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 other things, the risks and uncertainties inherent with clinical research and commercialization; the risks and uncertainties of the clinical development and regulatory approval process; risks related to Coherus’s ability to increase sales of LOQTORZI or expand LOQTORZI into other indications; the risk that Coherus is unable to complete commercial transactions in a timely manner or at all; risks and uncertainties in executing collaboration agreements and other joint ventures, including particular risks of working with international partner s; the risk of Coherus’s dependence on an ability to raise funds, which may not be available on acceptable terms or at all; the risks and uncertainties o f the degree of market acceptance for Coherus’s product and product candidates by physicians, healthcare providers and patients; and the risks and u ncertainties of litigation. For a further discussion of these and other factors that could cause Coherus’s future results to differ materially from any forw ard-looking statements see the section entitled “Risk Factors” in Coherus’s Quarterly Report on Form 10 -Q for the quarter ended June 30, 2026, filed with the Securities and Exchange Commission (“SEC”) on August 5, 2026, as updated by Coherus’s subsequent reports filed with the SEC. Any forward-looking statements speak only as of the date of this presentation and are made based on the current plans, estimates, good faith beliefs and jud gments of Coherus management, and the reader is cautioned not to rely on any forward -looking statements made by Coherus. Unless required by law, Coherus is not under any duty and undertakes no obligation to publicly update or revise any forward -looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. Coherus’s past performance should not be considere d to be a guarantee of future results. 2
Page 3
©2026 Coherus Oncology, Inc. Agenda • Introduction • Tagmokitug Opportunity in ESCC • Data Update in Additional Indications • KOL Discussion • Closing Remarks 3
Page 4
©2026 Coherus Oncology, Inc. Meet the Team Coherus Oncology Investigators and Advisors Dennis M. Lanfear President & Chief Executive Officer Theresa LaVallee, Ph.D. Chief Scientific & Development Officer Rosh Dias, M.D., M.R.C.P. Chief Medical Officer Douglas R. Adkins, M.D. Professor of Medicine Director, Head and Neck and Thyroid Medical Oncology WashU School of Medicine Dan Feng, M.D., Ph.D. Assistant Professor Hematology & Medical Oncology Icahn School of Medicine at Mount Sinai 4
Page 5
©2026 Coherus Oncology, Inc. Coherus Oncology Pipeline Overcoming Immune Resistance in Cancer PROGRAM TARGET INDICATION COMBINATION DEVELOPMENT STAGE UPCOMING READOUT Preclinical Phase 1 Phase 2 Phase 3 Marketed Tagmokitug TREGCHECK Casdozokitug CADILYZE Next-Gen PD-1 Inhibitor CCR8+ Treg depleter IL-27 antagonist 1L NPC Gemcitabine / Cisplatin 2L+ NPC Monotherapy 4L+ CRC Toripalimab 2L HNSCC Toripalimab 2L GC, GEJ, EAC Toripalimab 1L / 2L ESCC Toripalimab +/− chemotherapy 3L+ mCRPC Pasritamig (J&J) 1L HCC Toripalimab + Bevacizumab NPC = Nasopharyngeal Carcinoma; CRC = Colorectal Cancer; HNSCC = Head and Neck Squamous Cell Carcinoma; GC = Gastric Cancer; GEJ = Gastro-esophageal-junction; EAC = Esophageal Adenocarcinoma; ESCC = Esophageal Squamous Cell Carcinoma; mCRPC = metastatic Castration-Resistant Prostate Cancer; HCC = Hepatocellular Carcinoma 1H 2027 Jan 2027 October 2026 5 Casdozokitug showing clear dose- dependent activity, both with respect to response and duration
Page 6
©2026 Coherus Oncology, Inc. Our Vision: Help People With Cancer Live Longer Developing Novel Agents Designed to Overcome Immune Resistance and Extend Survival 6 Our ambition is to translate a deeper understanding of tumor immune resistance into medicines that deliver durable benefit for patients. DISCOVER novel immune targets DEVELOP differentiated agents DELIVER durable patient benefit OVERCOMING IMMUNE RESISTANCE IN CANCER
Page 7
©2026 Coherus Oncology, Inc. Immunotherapies May Overcome Immune Resistance to Drive Durable Benefit in Cancer Patients Immunotherapies such as PD-L1 may increase OS, the gold standard endpoint for approvability Immunotherapy Durable benefit driven by sustained immune control LOQTORZI long-term OS data readout in R/M NPC at ESMO Asia 2025 LOQTORZI + Chemo Placebo + Chemo Chemotherapy Rapid tumor shrinkage, often with limited durability 7 Chen QY. Long term overall survival follow-up of toripalimab versus placebo in combination with gemcitabine and cisplatin as first-line treatment for recurrent or metastatic nasopharyngeal carcinoma. Mini oral session presented at ESMO Asia Congress, December 6, 2025
Page 8
©2026 Coherus Oncology, Inc. Treg Biology is Specialized and Essential for Mucosal Immunity TREGCHECKTM Program PoP Focus Where Tumors Exploit Critical Role of Tregs 8 The mucosal immune system is the body’s largest immune-cell compartment, and it is rich in Tregs Treg-Mediated Immune Homeostasis Tregs regulate mucosal immunity by balancing self- tolerance and protection from pathogens, commensal microbiome and food antigens Overcoming Tumor Immune Resistance Targeted depletion of CCR8⁺ Tregs can remodel the TME and enhance anti-tumor T-cell mediated killing Treg Immune Evasion Tumors exploit Treg-rich mucosal immune environments to evade immune surveillance, making elevated Treg levels a key driver of poor cancer prognosis Head and neck squamous cell carcinoma (HNSCC) Esophageal squamous cell carcinoma (ESCC) Upper GI adeno (GC/GEJ/EAC) Colorectal cancer (CRC) PoP = Proof of Principle Wang X, et al. Mol Cancer Ther. 2019 11(4):681-690. doi: 10.1158/1535-7163.MCT-25-0367. 2. Weaver JD, et al. Oncoimmunology. 2022;11(1):2141007. doi:10.1080/2162402X.2022.2141007 Well designed clinical program to elucidate the therapeutic potential of Treg depletion across indications and lines of therapy
Page 9
©2026 Coherus Oncology, Inc. Tagmokitug Demonstrated Clinical Activity Across Multiple Solid Tumors US-Focused Program, Addresses Project Optimus; Focus on ESCC 2L HNSCC Tagmokitug + Toripalimab 1L ESCC Tagmokitug + Toripalimab + Chemo 2L GC/GEJ/EAC Tagmokitug + Toripalimab 4L+ MSS CRC Tagmokitug + Toripalimab 2L ESCC Tagmokitug + Toripalimab Over 120 Patients Treated: Key Learnings Durable responses and disease stabilization in heavily pretreated, IO-resistant populations Broad, pan-tumor activity of tagmokitug across HNSCC and GI cancers No new safety signal beyond PD-1 inhibitor and manageable safety profile ESCC interim shows durable and deep responses cORR: 75%* in all comers, 100% in PD-L1+, n = 8 evaluable patients in 1L ESCC Clinical benefit in 1L and 2L ESCC in patients with PD-L1 negative tumors Clear dose response supports contribution of tagmokitug and confidence in go-forward dose TIRI = Tumor Immune Regulatory Index is a tumor-derived CCR8-containing biomarker score Integrated development path forward in 1L and 2L ESCC Expand cohorts to more patients and longer follow up Leverage FDA designations * Two additional PRs were confirmed after the cutoff date; ORR is 89% (8 of 9 evaluable patients) 9
Page 10
©2026 Coherus Oncology, Inc. Agenda 10 • Introduction • Tagmokitug Opportunity in ESCC ‒ 1L ESCC ‒ 2L ESCC ‒ Integrated Development Plan • Data Update in Additional Indications • KOL Discussion • Closing Remarks
Page 11
©2026 Coherus Oncology, Inc. TREGCHECKTM 102 Cohort C: 1L ESCC Testing Chemotherapy Combination; Moving into Earlier Lines of Treatment 11 Key inclusion criteria: • Advanced/metastatic ESCC • No previous treatment • PD-L1 negative and positive Primary Endpoint: • Safety Secondary Endpoints: • ORR, DOR, CBR, PFS Tagmokitug 700 mg + Toripalimab + 5FU + Cisplatin • MRCT with ~20% of patients enrolled in the US • Target enrollment: 12 patients ‒ Safety evaluable patient set: N = 10 ‒ Efficacy evaluable patient set: N = 8 1L ESCC MRCT = Multiregional clinical trial
Page 12
©2026 Coherus Oncology, Inc. 12 1L ESCC: Compelling Interim Clinical Activity Tumor Shrinkage in All Evaluable Patients, Including PD-L1 Negative, and 1 CR 75% cORR* PD-L1 all 100% cORR PD-L1 ≥ 1 • 100% of evaluable patients showed tumor shrinkage • Activity in PD-L1–negative disease • 1 confirmed CR • ORR exceeds US SoC (44%-59%) • Data continues to show improvement post data cut • Enrollment ongoing, planned expansion to 30 to 40 patients 1L ESCC 700 mg tagmokitug + toripalimab + chemotherapy (n=8) Treatment Ongoing The Response-Evaluable Population is defined as all participants who received at least one dose of the study drugs with measurable disease at baseline and at least 1 post -baseline response assessment (evaluable participants) SOD = Sum of Diameters. Baseline PD-L1 was reported as CPS, TPS or TAP. CPS, combined positive score; TPS, tumor proportion score; TAP, tumor area positivity. * Two additional PRs were confirmed after the cutoff date; ORR is 89% (8 of 9 evaluable patients) Data as of: 14 Oct 2026
Page 13
©2026 Coherus Oncology, Inc. Case Study: Confirmed Complete Response in 1L ESCC Patient 88% Reduction in Target Lesions at the Time of Confirmed CR 13 RECIST Assessment: • Target lesions: 88% reduction at the time of confirmed CR (follow-up 5) • Non-target lesions: all disappeared after 8 cycles • No new lesions Target Lesions Baseline Follow-up 5 Esophageal Mass size Supraclavicular Lymph Node size Responder Demographic: • Diagnosed at Stage IVB ESCC • No prior therapy • PD-L1 positive • DPD-negative, MSS 26mm 0 mm 1L ESCC Note: patient discontinued tagmokitug/toripalimab as a PR; CR confirmed during follow up
Page 14
©2026 Coherus Oncology, Inc. 14Data as of: 14 Oct 2026 1L ESCC: Compelling Interim Clinical Activity Rapid Onset of Response; Enrollment Ongoing • Rapid onset of response in evaluable patients • PFS data immature • Ongoing uPR > 33 weeks in a PD-L1- negative patient • Potential for continued durability and survival benefit as data mature • 50% remain on treatment, with durability evolving 1L ESCC The Response-Evaluable Population is defined as all participants who received at least one dose of the study drugs with measurable disease at baseline and at least 1 post -baseline response assessment uPR = Unconfirmed Partial Response; PFS = Progression-Free Survival
Page 15
©2026 Coherus Oncology, Inc. Agenda 15 • Introduction • Tagmokitug Opportunity in ESCC ‒ 1L ESCC ‒ 2L ESCC ‒ Integrated Development Plan • Data Update in Additional Indications • KOL Discussion • Closing Remarks
Page 16
©2026 Coherus Oncology, Inc. TREGCHECKTM 102 Cohort B: 2L ESCC Dose Optimization; Testing a Chemotherapy-Free Alternative 16 Primary Endpoint: • Safety Secondary Endpoints: • ORR, DOR, CBR, PFS Key inclusion criteria: • R/M ESCC • Received 1L systemic chemotherapy • Dose optimization study • MRCT with ~30% of patients enrolled in the US • Target enrollment: 20 patients ‒ Safety evaluable patient set: N = 17 ‒ Efficacy evaluable patient set: N = 8 Tagmokitug 300 mg + Toripalimab Tagmokitug 700 mg + Toripalimab R 1:1 2L ESCC R/M = Recurrent/Metastatic; MRCT = Multiregional clinical trial; ORR = Overall Response Rate; DOR = Duration of Response; CBR = Clinical Benefit Rate; PFS = Progression-Free Survival
Page 17
©2026 Coherus Oncology, Inc. 2L ESCC: Encouraging Activity in Area of High Unmet Need Dose Response Driven by Tagmokitug in Chemo-Free Alternative, Interim Data • Dose response, driven by tagmokitug at 700 mg • CBR consistent with IO-driven durable stable disease (SD) • Tumor shrinkage, including PD-L1-Neg • Chemo-free treatment for PD-1 refractory and ineligible patients • Enrollment ongoing The Response-Evaluable Population is defined as all participants who received at least one dose of the study drugs with measurable disease at baseline and at least 1 post -baseline response assessment 2L ESCC 33.3% CBR 16.7% cORR 700 mg dose: Baseline PD-L1 17Data as of: 14 Oct 2026
Page 18
©2026 Coherus Oncology, Inc. 18 2L ESCC: Encouraging Activity in Area of High Unmet Need Clear Dose Response; Potential Chemo-Free Alternative, Interim Data 700 mg dose: 5.5m mPFS • Tagmokitug dose-response in randomized cohorts (700 vs 300 mg) • Durable benefit in a chemo-free regimen • Ongoing SD > 33 weeks in a PD-L1-Neg patient • mPFS exceeds US SoC (3.4m), still maturing • Enrollment ongoing; durability with potential to improve 2L ESCC 300 mg700 mg PD-L1 <1 mPFS = Median Progression-Free Survival; SoC = Standard of Care Data as of: 14 Oct 2026
Page 19
©2026 Coherus Oncology, Inc. Safety Profile in ESCC Supports Continued Development with Chemo in Earlier Lines or Late Line Refractory Disease 19 1L ESCC, N=10 2L ESCC, N=17 Tagmokitug 700 mg Toripalimab + 5FU/Cis Tagmokitug 300 mg + 700 mg Toripalimab TEAE related to any study drug Grade 3+ 7 (70.0) 5 (29.4) TEAE related to tagmokitug Grade 3+ 2 (20.0) 4 (23.5) TEAEs leading to tagmokitug discontinuation 4 (40.0) 2 (11.8) TEAE related to any study drug: Most common AEs (top 3) • Nausea (70.0%) • Pyrexia (50.0%) • Neutrophil count decreased (40.0%) • Infusion related reaction (23.5%) • Pneumonitis (17.6%) • Rash (17.6%) TEAE related to any study drug leading to tagmokitug dose reduction 1 (10.0) 1 (5.9) ESCC AE = Adverse Event; TEAE = Treatment Emergent Adverse Event
Page 20
©2026 Coherus Oncology, Inc. Agenda 20 • Introduction • Tagmokitug Opportunity in ESCC ‒ 1L ESCC ‒ 2L ESCC ‒ Integrated Development Plan • Data Update in Additional Indications • KOL Discussion • Closing Remarks
Page 21
©2026 Coherus Oncology, Inc. Potential to Address High Unmet Need in 1L and 2L ESCC with Integrated Novel-Novel Combination Strategy 1L ESCC – Overall Response Rate (Meta-Analysis) 2L ESCC 700 mg – mPFS (Meta-Analysis) in months Tagmo + Tori + Chemo Tagmo + Tori + Chemo Nivo + Chemo Pembro + Chemo Tisle + Chemo 75%* 100% 53% 44% 59% PD-L1 ≥ 1 Tagmo+Tori Chemo (SoC) 5.5m 3.4m All comers 1L ESCC SoC: CheckMate-648: Doki Y, et.al; N Engl J Med 2022;386:449-462, KEYNOTE-590: Shah M, et.al J Clin Oncol 42, 250(2024) RATIONAL-306Yoon H, et.al; J Clin Oncol 44, 381(2026). 2L ESCC SoC: ATTRACTION-3 Kato P, et.al; The Lancet Oncology, 2019; 20, 1506- 1517 1L and 2L ESCC Integrated Development & Regulatory Strategy 21 * Two additional PRs were confirmed after the cutoff date; ORR is 89% (8 of 9 evaluable patients)
Page 22
©2026 Coherus Oncology, Inc. LOQTORZI® is a Next-Generation PD-1 Inhibitor Demonstrated Differentiation vs Keytruda in 1L ESCC, Irrespective of PD-L1 Status LOQTORZI binds to a unique epitope and with higher affinity than first-generation PD-1s Antibody KD (nM)* LOQTORZI 0.31 KEYTRUDA 3.92 OPDIVO 7.22 Unique binding epitope 10-fold higher affinity than approved PD-1s KD: Dissociation constant 1 Liu H, et al. MAbs. 2019;11(4):681-690; 2 Brown et al. PLoS One. 2020;15: e0229206; 3. Rajasekaran et al. Cancer Immunol ImmunotherPY. 2024;73(3):60. 4. Zi-Xian Wang, et al. Cancer Cell. 2022; 40(3): 277-288 LOQTORZI demonstrated activity irrespective of PD-L1 status in 1L ESCC JUPITER-06 1L A/M ESCC KEYNOTE-590 1L A/M EC and GEJC 0.64 0.620.61 0.86 0 0.2 0.4 0.6 0.8 1 PD-L1 ≥ 10 PD-L1 < 10 4 PD-L1 low PD-L1 low PD-L1 high PD-L1 high Efficacy and approval limited to PD-L1+ (PD-L1 > 1) Hazard Ratio Low-PD-L1 ESCC indication approved in the EU 22 Data are from separate studies and are not directly comparable
Page 23
©2026 Coherus Oncology, Inc. Parallel Development in 1L and 2L ESCC Expand Existing Cohorts to Support Global Pivotal Trial and Registration 23 Expand Existing ESCC Cohorts Pivotal Studies • Randomized pivotal study of tagmokitug + toripalimab (+ chemo in 1L) versus SoC • Global trial: e.g., ~30% U.S./ Western, ~70% Ex-U.S./ Western enrollment • Expand and mature enrolling 1L and 2L TREGCHECK TM cohorts • Confirm dose, safety, activity, and durability data • Potential for accelerated approval ‒ Interim BICR ORR + DoR • Full approval ‒ OS confirmation in same trial Registration Continuous FDA interactions BICR = Blinded Independent Central Review; ORR = Overall Response Rate; DoR = Duration of Response; OS = Overall Survival Toripalimab demonstrated activity in 1L ESCC, including low PD-L1 population derisks the development program
Page 24
©2026 Coherus Oncology, Inc. Integrated Regulatory Strategy in 1L and 2L ESCC Potential for Expedited Development in Both Settings 24 • EOP2 / PP3: align pivotal design, contribution of effect, and endpoints after cohort expansion • Project FrontRunner: to align earlier-line strategy • Type D FDA meeting/ dose-optimization (planned for 1Q 2027) ‒ Align on 700 mg as RP2D • Confirm evidence maturity, CMC, US manufacturing, inspection readiness and draft labeling • Prepare for Project Orbis, leveraging toripalimab ESCC approval in other regions Immediate Post Data Maturity Submission Strategy Potential FDA Designations: Orphan Drug Fast-Track Breakthrough Therapy FDA Engagement Plan – Tagmokitug + Toripalimab in 1L and 2L ESCC
Page 25
©2026 Coherus Oncology, Inc. Synergistic and Executable Strategy for 1L and 2L ESCC Potential for Accelerated Approval in Both Settings for Tagmokitug+Toripalimab • Differentiated activity and high unmet need in both 1L and 2L settings Efficient development path Potential for Accelerated Approval • Multiple paths to market Two disease settings/indications (1L and 2L) Broad patient population: PD-L1 positive or all comers (no selection) • Global program Leverage toripalimab ESCC EMA approval (Project Orbis) High ex-US disease burden opens global development and partnering opportunities 25 Incidence in the US 5,000 – 7,000 patients Potential to capture a significant of the market across lines to therapy with wholy-owned novel-novel combination Tagmokitug + Loqtorzi revenue potential $1.0 - $1.5 billion annually
Page 26
©2026 Coherus Oncology, Inc. Agenda • Introduction • Tagmokitug Opportunity in ESCC • Data Update in Additional Indications ‒ 2L HNSCC ‒ 2L Gastric and Upper GI ‒ 4L+ CRC • KOL Discussion • Closing Remarks 26
Page 27
©2026 Coherus Oncology, Inc. TREGCHECKTM 101 Arm 3: 2L PD-1 Refractory HNSCC Dose Optimization, Rescue PD-1 Resistance Key inclusion criteria: • Recurrent / Metastatic HNSCC • Received anti-PD-(L)1 with or without chemotherapy • HPV status and PD-L1 score Primary Endpoint: • Safety Secondary Endpoint: • ORR, DOR, DCR, PFS Tagmokitug 300 mg + Toripalimab Tagmokitug 700 mg + Toripalimab R 1:1 TME immune remodeling CCR8+ Cell Depletion Pre-treatment On-treatment CD8+ T Cell Infiltration Antitumor activity - 4L HPV+ HNSCC PR TREGCHECK 101 Arm 2 data (AACR 2025) • Dose optimization. US-only study • Total enrollment: 43 patients ‒ Safety evaluable patient set: N = 43 ‒ HPV+ efficacy evaluable patient set: N = 23 TREGCHECK 101 Arm 3 Study Design 2L HNSCC Wang X, et al. CHS-114, an anti-CCR8 cytolytic monoclonal antibody that preferentially depletes intratumoral Tregs and induces antitumor immune response. SITC 2024. HNSCC = Head and neck squamous cell carcinoma; ORR = Overall Response Rate; DOR = Duration of Response; CBR = Clinical Benefit Rate; PFS = Progression-Free Survival 27
Page 28
©2026 Coherus Oncology, Inc. 28 2L HNSCC: Potential Enrichment Strategy in HPV+ Patients Activity with Chemo-Free Regimen in Area of High Unmet Need 13.0% cORR 26.1% CBR • Tagmokitug rescues PD-1 resistance at both doses • HPV-positive tumors exhibit immune sensitivity and Treg-driven immune suppression • Activity supports future IO + tumor- targeted combinations HPV-positive, both doses combined: The Response-Evaluable Population is defined as all participants who received at least one dose of the study drugs with measurable disease at baseline and at least 1 post-baseline response assessment. Two participants had post-baseline overall response assessments; therefore, they are included in the Response-Evaluable Population, but %change from baseline values in the target lesion were not entered in the EDC as of data cutoff date. They were not included in the waterfall plot. 2L HNSCC Data as of: 14 Oct 2026
Page 29
©2026 Coherus Oncology, Inc. 29 2L HNSCC: Potential Enrichment Strategy in HPV+ Patients Chemo-Free Encouraging Activity in Area of High Unmet Need • Durable response and prolonged stable disease • Chemo-free alternative in an area of high unmet need • Potential for enrichment in HPV+ patients 2L HNSCC Data as of: 14 Oct 2026 The Response-Evaluable Population is defined as all participants who received at least one dose of the study drugs with measurable disease at baseline and at least 1 post -baseline response assessment. Two participants had post-baseline overall response assessments; therefore, they are included in the Response-Evaluable Population, but %change from baseline values for the target lesion could not been calculated, pending EDC query resolution. They were not included in the spider plot.
Page 30
©2026 Coherus Oncology, Inc. 2L HNSCC: High Baseline TIRI Enriches For Clinical Benefits TIRI+ Tumors are more Abundant in HPV+, with Higher ORR/CBR Observed in HPV+ Biopsies from TREGCHECK 101: Arm 2 (2L+) and Arm 3 (2L) HPV+ All N=23 TIRI+ N=11 CBR 26.1% (6/23) 45.5% (5/11) ORR 13.0% (3/23) 18.2% (2/11) TIRI+ prevalence: 48% (11/23) HPV− All N=17 TIRI+ N=5 CBR 11.8% (2/17) 20% (1/5) ORR 5.9% (1/17) 20% (1/5) TIRI+ prevalence: 29% (5/17) Response rates use the biomarker- and response-evaluable set. TIRI+ denotes the CCR8+ TIRI cutoff. CB / CBR: cPR + SD >6 months. NCB: PD + SD <6 months. Further metrics and cutoffs remain under evaluation. 840-137-012: HPV status imputed as negative • HPV+ tumors present higher TIRI+ score • Enriches for CBR / ORR in HPV+ disease • Supports tagmokitug-mediated activity • Potential patient enrichment strategy 2L HNSCC TIRI: Tumor Immune Regulatory Index is a tumor-derived CCR8-containing biomarker score 30Data as of: 14 Oct 2026
Page 31
©2026 Coherus Oncology, Inc. Safety Profile in HNSCC Supports Continued Development 31 2L HNSCC, N=43 Tagmokitug 300 mg + 700 mg Toripalimab TEAE related to any study drug Grade 3+ 20 (46.5) TEAE related to tagmokitug Grade 3+ 17 (39.5) TEAEs leading to tagmokitug Discontinuation 6 (14.0) TEAE related to any study drug: Most common AEs (top 3) • Fatigue (32.6%) • Infusion related reaction (23.3%) • Diarrhea (20.9%) TEAE related to any study drug leading to tagmokitug dose reduction 1 (2.3) AE = Adverse Event; TEAE = Treatment Emergent Adverse Event 2L HNSCC
Page 32
©2026 Coherus Oncology, Inc. Agenda • Introduction • Tagmokitug Opportunity in ESCC • Data Update in Additional Indications ‒ 2L HNSCC ‒ 2L Gastric and Upper GI ‒ 4L+ CRC • KOL Discussion • Closing Remarks 32
Page 33
©2026 Coherus Oncology, Inc. TREGCHECK 102 Cohort A: 2L Upper GI Cancers Dose Optimization; Testing a Chemotherapy-Free Alternative 33 Key inclusion criteria: • R/M GC, GEJ, EAC • HER2-negative • MSS/pMMR • Received platinum and fluoropyrimidine doublet with or without anti-PD-1/PD-L1 Primary endpoints: • Safety Secondary endpoints: • ORR, DOR, DCR, PFS • Dose optimization study • MRCT with ~60% of patients enrolled in the US • The majority of patients enrolled are PD-1 refractory • Safety evaluable patient set = 40 ‒ Efficacy evaluable patient set = 33 Tagmokitug 300 mg + Toripalimab Tagmokitug 700 mg + Toripalimab R 1:1 2L GC/GEJ/EAC R/M = Recurrent/Metastatic; GC = Gastric Cancer; GEJ = Gastroesophageal Junction; EAC = Esophageal Adenocarcinoma; pMMR = proficient Mismatch Repair; MSS = microsatellite stable; MRCT: Multiregional clinical trial; ORR = Overall Response Rate; DOR = Duration of Response; CBR = Clinical Benefit Rate; PFS = Progression-Free Survival
Page 34
©2026 Coherus Oncology, Inc. 34 2L GC/GEJ/EAC: Encouraging Activity in High-Unmet Need Area Clear Dose Response; Potential Chemo-Free Alternative, Interim Data The Response-Evaluable Population is defined as all participants who received at least one dose of the study drugs with measurable disease at baseline and at least 1 post -baseline response assessment • Tagmokitug rescues PD-1 resistance at 700 mg • Tumor shrinkage in PD-1 refractory patients • Chemo-free alternative or add-on to other treatments 23.5% cORR 29.4% CBR 700 mg: 2L GC/GEJ/EAC Data as of: 14 Oct 2026
Page 35
©2026 Coherus Oncology, Inc. 35 300 mg700 mg • Dose-response driven by tagmokitug at 700 mg • Durability in PD-1 refractory in a chemo-free regimen • 2 PR of the 4 confirmed responses are esophageal adenocarcinoma (EAC) • Durable benefits in a chemo-free regimen • Seven patients continue on treatment; potential to improve durability • Activity supports future IO + tumor- targeted combinations 2L GC/GEJ/EAC: Encouraging Activity in High Unmet Need Area Clear Dose Response, Durability in Chemo-Free Alternative, Interim Data The Response-Evaluable Population is defined as all participants who received at least one dose of the study drugs with measurable disease at baseline and at least 1 post -baseline response assessment. One participant in 300mg group had one post- baseline overall response assessment, but value has not been entered in the EDC as of data cutoff; % change from baseline in the target lesion was entered in the EDC; therefore, this participant was included in the Response-Evaluable Population. 2L GC/GEJ/EAC Data as of: 14 Oct 2026
Page 36
©2026 Coherus Oncology, Inc. Safety Profile in Upper GI Supports Continued Development 36 2L GC/GEJ/EAC, N=40 Tagmokitug 300 mg + 700 mg Toripalimab TEAE related to any study drug Grade 3+ 12 (30.0) TEAE related to tagmokitug Grade 3+ 12 (30.0) TEAEs leading to tagmokitug discontinuation 2 (5.0) TEAE related to any study drug: Most common AEs (top 3) • Infusion related reaction (35.0%) • Pyrexia (17.5%) • Lymphocyte count decreased (12.5%) TEAE related to any study drug leading to tagmokitug dose reduction 0 (0.0) 2L GC/GEJ/EAC
Page 37
©2026 Coherus Oncology, Inc. Agenda • Introduction • Tagmokitug Opportunity in ESCC • Data Update in Additional Indications ‒ 2L HNSCC ‒ 2L Gastric and Upper GI ‒ 4L+ CRC • KOL Discussion • Closing Remarks 37
Page 38
©2026 Coherus Oncology, Inc. TREGCHECKTM 102 Cohort D: 4L+ NLM MSS CRC Testing Enabling of Immune Activation in Cold Tumors 38 Key inclusion criteria: • R/M CRC • MSS • Non-liver metastasis • Exhausted all approved standard therapies, including fluoropyrimidine, oxaliplatin, irinotecan-based chemo, anti-VEGF therapy, anti-EGFR therapy, and BRAF inhibitors Primary criteria: • Safety Secondary Criteria: • ORR, DOR, DCR, PFS Tagmokitug 700 mg + Toripalimab • MRCT with ~60% of patients enrolled in the US • Safety evaluable patient set: N = 20 ‒ Efficacy evaluable patient set = 17 4L+ MSS CRC R/M: Recurrent/Metastatic; MRCT: Multiregional clinical trial; MSS: Microsatellite Stable
Page 39
©2026 Coherus Oncology, Inc. 4L+ MSS NLM CRC Antitumor Activity and Molecular Response Antitumor Activity Observed in IO-Nonresponsive Tumor; Interim Data • Antitumor activity observed in highly refractory IO- nonresponsive patients • Molecular response and CEA drop observed • Activity supports moving to an earlier line of therapy The Response-Evaluable Population is defined as all participants who received at least one dose of the study drugs with measurable disease at baseline and at least 1 post -baseline response assessment. Two participants had post-baseline overall response assessments; therefore, they are included in the Response-Evaluable Population, but % change from baseline values in the target lesion were not entered in the EDC as of data cutoff date. They were not included in the waterfall/spider plots. 5.9% cORR 11.8% CBR 4L+ MSS CRC 39Data as of: 14 Oct 2026 ctDNA = circulating tumor DNA; CEA = carcinoembryonic antigen
Page 40
©2026 Coherus Oncology, Inc. 40 Safety Profile in MSS CRC Supports Continued Development 4L+ CRC, N=20 Tagmokitug 700 mg Toripalimab TEAE related to any study drug Grade 3+ 2 (10.0) TEAE related to tagmokitug Grade 3+ 2 (10.0) TEAEs leading to tagmokitug discontinuation 1 (5.0) TEAE related to any study drug: Most common AEs (top 3) • Fatigue (20.0%) • Rash maculo-popular (20.0%) • Anemia (10.0%) TEAE related to any study drug leading to tagmokitug dose reduction 0 (0.0) 4L+ MSS CRC AE = Adverse Event; TEAE = Treatment Emergent Adverse Event
Page 41
©2026 Coherus Oncology, Inc. Agenda • Introduction • Tagmokitug Opportunity in ESCC • Data Update in Additional Indications • KOL Discussion • Closing Remarks 41
Page 42
©2026 Coherus Oncology, Inc. Tagmokitug Interim Clinical Update Supports Continued Development 2L HNSCC 2L ESCC 2L GC/GEJ/EAC 4L+ MSS CRC Key Learnings • Strong activity, including in PD-L1 Negative • Manageable safety with chemo • Clear dose response and durable benefit, including PD-1-Neg • Data support chemo-free development • Activity at both doses; higher activity in HPV-Pos • Potential chemo-free alternative • Clear dose response with durable benefits • Potential chemo-free alternative or combination regimen • Antitumor activity and molecular response • Potential to move into earlier lines 1L ESCC 42
Page 43
©2026 Coherus Oncology, Inc. TREGCHECKTM: Acceptable and Manageable Safety Profile Increase in irAEs is Lower than Other Dual IO Treatments Hopson S, et al. Journal for ImmunoTherapy of Cancer. 2025. 13(Suppl 2). Borghaei H, et al. The New England Journal of Medicine. 2015. 373(17) 3Schlechter B, et al. Annals of Oncology. 2025. 36(Suppl 1). Bullock A, et al. Nature Medicine. 2024. 30(9). Brown A, et.al; Oncol Ther . 2025 May 31;13(3):649–665. Wolchock J, et.al; N Engl J Med 2017;377:1345-1356 Overall irAE rate Comparative Safety Profile 40% 58% 77.8% Grade 3-5 irAE rate Tagmo + Tori (N=120) Next-Gen CTLA-4+PD-1 Nivo + Ipi 20% 28.5% 41.7% Grade 3-5 TRAE rate 32.5% 33% 59% Most common TRAEs IRR: 25.0% Fatigue: 19.2% Rash: 15.8% Chills: 20% Fatigue: 18% ↓ Appetite: 14% Puritis: 36% Rash: 30% Fatigue: 38% Tagmokitug Toripalimab N > 120 Tagmokitug Toripalimab Chemotherapy N = 10 • No new safety signals beyond PD-1/ICI • Increase in irAEs, but manageable • Comparable safety across active doses • Most AEs were Grade 1/2 and resolved • No Grade 5 TRAEs • Manageable safety profile in 1L ESCC • No new safety signal • Most AEs attributed to chemotherapy • No Grade 5 TEAEs Tagmokitug • No DLTs through 1200 mg Q3W TREGCHECK Safety Summary 43 irAE = Immune-related adverse event; DLT = Dose-limiting toxicity; TEAE = Treatment Emergent Adverse Event; TRAE = treatment-related adverse event
Page 44
©2026 Coherus Oncology, Inc. KOL Panel Discussion 44 Moderator: Rosh Dias, M.D., M.R.C.P. Coherus Oncology Chief Medical Officer Douglas R. Adkins, M.D. Professor of Medicine Director, Head and Neck and Thyroid Medical Oncology WashU School of Medicine Investigators and Advisors: Dan Feng, M.D., Ph.D. Assistant Professor Hematology & Medical Oncology Icahn School of Medicine at Mount Sinai
Page 45
©2026 Coherus Oncology, Inc. Agenda • Introduction • Tagmokitug Opportunity in ESCC • Data Update in Additional Indications • KOL Discussion • Closing Remarks 45
Page 46
©2026 Coherus Oncology, Inc. Tagmokitug Interim Clinical Update 1L and 2L ESCC Present an Efficient Path to Significant Market Opportunity Fast-to-Market Path in ESCC Differentiated activity vs SoC ESCC signal supports further evaluation Addressing high unmet need Potential to leverage FDA designations e.g. Orphan, BTD, Fastrack, AA in 1L and 2L Toripalimab proven in ESCC Phase 3 data and EMA approval supports efficient and PD-L1–agnostic strategy Large Global Opportunity Future tagmokitug combinations Expanding combination beyond PD-1 with other modalities, starting with J&J TCE Ex-US partnering opportunity Global rights and high unmet need ex- US (esp. Asia) $1.0B – $1.5B U.S. opportunity for tagmokitug and toripalimab with low competitive intensity TCE = T Cell Engager 46
Page 47
©2026 Coherus Oncology, Inc. Tagmokitug CCR8+ Treg Depleter Interim Clinical Update October 2026