Coherus Prices Public Offering of Common Stock
May 23 2016 - 9:20AM
Coherus BioSciences, Inc. (Nasdaq:CHRS), a leading pure-play,
global biosimilars company with late-stage clinical products, today
announced the pricing of its underwritten public offering of
3,500,000 shares of its common stock at a price to the public of
$18.00 per share. All of the shares of the common stock to be sold
in the offering will be offered by Coherus. In addition, Coherus
has granted the underwriter a 30-day option to purchase up to an
additional 525,000 shares of its common stock at the public
offering price, less the underwriting discount.
Coherus intends to use the substantial majority
of the net proceeds from this offering to fund manufacturing and
related activities for late-stage products, and any remaining
proceeds for working capital and other general corporate
purposes.
The offering is expected to close on or about
May 26, 2016, subject to satisfaction of customary closing
conditions.
Barclays is acting as the sole book-running
manager and underwriter for the offering.
A registration statement (including a
prospectus) relating to these securities has been filed with the
U.S. Securities and Exchange Commission (SEC) and became effective
on January 21, 2016. This offering is being made solely by means of
a prospectus supplement and the accompanying prospectus, copies of
which may be obtained by contacting Barclays Capital Inc., c/o
Broadridge Financial Solutions, 1155 Long Island Ave, Edgewood, NY
11717, telephone: (888) 603-5847, e-mail:
Barclaysprospectus@broadridge.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 platform company that develops and commercializes
high-quality therapeutics for major regulated markets. 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. Composed
of a team of industry veterans with expertise in process science,
analytical characterization, protein production and
clinical-regulatory development, Coherus’ goal is to become a
leader in the global biosimilar marketplace. Coherus is advancing
three late-stage clinical products towards commercialization,
CHS-1701 (pegfilgrastim biosimilar), CHS-0214 (etanercept
biosimilar) and CHS-1420 (adalimumab biosimilar), as well as
developing a robust pipeline of future products, including CHS-5217
(bevacizumab biosimilar) and CHS-3351 (ranibizumab biosimilar).
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, please refer to the Company’s
preliminary prospectus supplement filed with the SEC on May 23,
2016, including the documents incorporated by reference therein,
which includes its Annual Report on Form 10-K filed with the SEC on
February 29, 2016, its Quarterly Report on Form 10-Q filed with the
SEC on May 9, 2016 and its subsequent periodic reports filed with
the SEC.
Contact Info:
Jean-Frédéric Viret, Ph.D.
Chief Financial Officer
Coherus BioSciences, Inc.
1 (800) 794-5434
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