tm265579-1_424b5 - none

424B5 1 tm265579-1_424b5.htm 424B5 tm265579-1_424b5 - none - 5.7909182s

The information in this preliminary prospectus supplement and the accompanying prospectus is not complete and may be changed. This preliminary prospectus supplement and the accompanying prospectus are not an offer to sell these securities and are not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.

Filed pursuant to Rule 424(b)(5)

Registration Statement No. 333-291520

Subject to completion, dated February 12, 2026

PRELIMINARY PROSPECTUS SUPPLEMENT
(To prospectus dated December 8, 2025)

[MISSING IMAGE: lg_coherusoncology-4c.jpg]

Common Stock

We are offering $ of shares of our common stock. Our common stock is listed on The Nasdaq Global Market under the symbol “CHRS.”

The last reported sale price of our common stock on the Nasdaq Global Market on February 11, 2026 was $2.04 per share.

Per share

Total

Public offering price

Underwriting discounts and commissions(1)

Proceeds to us, before expenses

(1)

See “Underwriting” for additional disclosure regarding underwriting discounts, commissions and estimated offering expenses.

We intend to grant the underwriters an option for a period of 30 days from the date of this prospectus supplement to purchase up to $ of additional shares of our common stock from us at the public offering price less the underwriting discounts and commissions, solely for the purpose of covering over-allotments, if any.

Investing in our common stock involves a high degree of risk. See “Risk Factors” on page S-7 of this prospectus supplement and in the documents incorporated by reference in this prospectus supplement concerning factors you should consider before investing in our common stock.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus supplement. Any representation to the contrary is a criminal offense.

The underwriters expect to deliver the shares of common stock to purchasers on or about February , 2026.

TD Cowen

Guggenheim Securities

Oppenheimer & Co.

The date of this prospectus supplement is February , 2026

	ABOUT THIS PROSPECTUS SUPPLEMENT					S-1
	PROSPECTUS SUPPLEMENT SUMMARY					S-2
	THE OFFERING					S-5
	RISK FACTORS					S-7
	SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS					S-10
	USE OF PROCEEDS					S-12
	MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES TO NON-U.S. HOLDERS					S-13
	UNDERWRITING					S-17
	LEGAL MATTERS					S-25
	EXPERTS					S-25
	WHERE YOU CAN FIND MORE INFORMATION; INCORPORATION BY REFERENCE					S-26

	ABOUT THIS PROSPECTUS					1
	CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS					2
	WHERE YOU CAN FIND MORE INFORMATION; INCORPORATION BY REFERENCE					4
	THE COMPANY					6
	RISK FACTORS					7
	USE OF PROCEEDS					8
	DESCRIPTION OF CAPITAL STOCK					9
	DESCRIPTION OF DEBT SECURITIES					13
	DESCRIPTION OF WARRANTS					20
	DESCRIPTION OF UNITS					21
	GLOBAL SECURITIES					22
	PLAN OF DISTRIBUTION					26
	LEGAL MATTERS					28
	EXPERTS					29

Name			Number of Shares
TD Securities (USA) LLC
Guggenheim Securities, LLC
Oppenheimer & Co. Inc.
Total

SEC Form 424B5 filed by Coherus Oncology Inc.