Coherus Announces Proposed Public Offering of Common Stock
March 30 2015 - 4:01PM
Coherus BioSciences, Inc. (Nasdaq:CHRS), a leading pure-play,
global biosimilars company with late-stage clinical products, today
announced it has commenced an underwritten public offering of
$100,000,000 of shares of its common stock. All of the shares of
the common stock to be sold in the offering will be offered by
Coherus. In addition, Coherus expects to grant the underwriters a
30-day option to purchase up to an additional $15,000,000 of shares
of common stock at the public offering price, less the underwriting
discount. The offering is subject to market conditions, and there
can be no assurance as to whether or when the offering may be
completed, or as to the actual size or terms of the offering.
Coherus intends to use the net proceeds of the offering to fund
the development of one or more biosimilar candidates currently in
the pre-clinical stage and the proof-of-concept Phase 2 trial of
INT-131, its small molecule drug candidate for the treatment of
multiple sclerosis, and any remaining proceeds for working capital
and general corporate purposes, including research and
development.
J.P. Morgan Securities LLC and Credit Suisse Securities (USA)
LLC are acting as joint book-running managers and Cowen and
Company, LLC is acting as lead manager for the offering.
A registration statement relating to these securities has been
filed with the Securities and Exchange Commission but has not yet
become effective. These securities may not be sold, nor may offers
to buy be accepted, prior to the time the registration statement
becomes effective. This offering is being made solely by means of a
prospectus. Copies of the preliminary prospectus related to the
offering may be obtained, when available, by contacting J.P. Morgan
Securities LLC, Attention: Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717, by telephone at (866)
803-9204, or by email at prospectus-eq_fi@jpmchase.com; or Credit
Suisse Securities (USA) LLC, Attention: Prospectus Department, One
Madison Avenue, New York, NY 10010, by telephone at (800) 221-1037,
or by email at newyork.prospectus@credit-suisse.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Coherus
BioSciences, Inc.
Coherus is a leading pure-play, global biosimilar company with a
focus on developing products for the major regulated markets.
Composed of a team of industry veterans with decades of experience
in bringing biologics to market, our goal is to become a worldwide
leader in the biosimilar market by leveraging our biologics
platform in key areas such as process science, analytical
characterization, protein production and clinical-regulatory
development. Coherus possesses late stage clinical products and
commercialization partnerships with multinational pharmaceutical
companies in Europe and Asia.
Biosimilars are intended for use in place of existing, branded
biologics to treat a range of chronic and often life-threatening
diseases, with the potential to reduce costs and expand patient
access.
Forward Looking Statements
To the extent that statements contained in this press release
are not descriptions of historical facts regarding Coherus, they
are forward-looking statements reflecting the current beliefs and
expectations of management made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995,
including statements regarding completion, timing, size and use of
proceeds of the proposed public offering that involve risks and
uncertainties, including, without limitation, risks and
uncertainties related to market conditions and the satisfaction of
closing conditions related to the proposed public offering. Such
forward-looking statements involve substantial risks and
uncertainties that relate to future events and the actual results
could differ significantly from those expressed or implied by the
forward-looking statements. Coherus undertakes no obligation to
update or revise any forward-looking statements. For a further
description of the risks and uncertainties relating to the business
of the Company in general, see the Registration Statement on Form
S-1 filed by Coherus with the Securities and Exchange Commission on
March 23, 2015, as amended from time to time, its Annual Report on
Form 10-K filed with the Securities and Exchange Commission on
March 23, 2015, and its subsequent periodic reports filed with the
Securities and Exchange Commission.
Contact Info: Jean-Frédéric
Viret, Ph.D. Chief Financial Officer Coherus BioSciences, Inc. 1
(800) 794-5434
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