Coherus BioSciences Announces New Employment Inducement Grants
February 14 2022 - 8:30AM
Coherus BioSciences, Inc. (“Coherus” or the “Company”, Nasdaq:
CHRS), today announced that effective Feb. 9, 2022, the
compensation committee of the Company’s board of directors granted
options to purchase an aggregate of 236,500 shares of the common
stock of the Company to newly hired employees with a per share
exercise price of $12.44, the closing trading price on the grant
date. One Vice President level executive was granted options to
purchase 45,000 shares; and 11 additional non-officer employees
were granted options to purchase an aggregate of 191,500 shares.
The stock options were granted pursuant to the Coherus
BioSciences, Inc. 2016 Employment Commencement Incentive Plan,
which was approved by the Company’s board of directors in June 2016
under Rule 5635(c)(4) of the Nasdaq Global Select Market for equity
grants to induce new employees to enter into employment with the
Company.
About Coherus BioSciencesCoherus is a
commercial stage biopharmaceutical company building a leading
immuno-oncology franchise funded with cash generated by its
commercial biosimilar business. In February 2021, Coherus
in-licensed toripalimab, an anti-PD-1 antibody, in the United
States and Canada. A biologics license application for toripalimab
for the treatment of metastatic or recurrent nasopharyngeal
carcinoma is currently under priority review by the FDA with a
target action date of April 2022. Toripalimab is also being
evaluated in pivotal clinical trials for the treatment of cancers
of the lung, breast, liver, skin, kidney, stomach, esophagus, and
bladder.
Coherus markets UDENYCA® (pegfilgrastim-cbqv), a biosimilar of
Neulasta® in the United States, and expects to launch the
FDA-approved Humira® biosimilar YUSIMRY™ (adalimumab-aqvh) in the
United States in 2023. The FDA is currently reviewing the biologics
license application for CIMERLI™, formerly CHS-201, a biosimilar of
Lucentis® (ranibizumab), with a target action date of August 2022.
Coherus is also developing CHS-305, a biosimilar of Avastin®
(bevacizumab).
For additional information, please
visit www.coherus.com.
Forward-Looking Statements
Except for the historical information contained herein, the
matters set forth in this press release are forward-looking
statements within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995, including,
but not limited to, statements regarding Coherus’ ability to build
its immuno-oncology franchise to achieve a leading market position;
Coherus’ ability to generate cash; Coherus’ investment plans; and
Coherus’ expectations for the launch date of YUSIMRY™.
Such forward-looking statements involve substantial risks and
uncertainties that could cause Coherus’ actual results, performance
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 others, the risks and uncertainties inherent in the clinical
drug development process; risks relating to the COVID-19 pandemic;
risks related to our existing and potential collaboration partners;
risks of the drug development position of Coherus’ competitors; the
risks and uncertainties of the regulatory approval process,
including the speed of regulatory review and the timing of Coherus’
regulatory filings; the risk of FDA review issues; the risk of
Coherus’ execution of its change in strategy from a focus on
biosimilars to a focus on building a leading immuno-oncology
franchise; the risk that Coherus is unable to complete commercial
transactions and other matters that could affect the availability
or commercial potential of Coherus’ drug candidates; and the risks
and uncertainties of possible litigation. All forward-looking
statements contained in this press release speak only as of the
date of this press release. Coherus undertakes no obligation to
update or revise any forward-looking statements. For a further
description of the significant risks and uncertainties that could
cause actual results to differ from those expressed in these
forward-looking statements, as well as risks relating to Coherus’
business in general, see Coherus’ Annual Report on Form 10-K for
the year ended December 31, 2020, filed with
the Securities and Exchange Commission on February
25, 2021, its subsequent Quarterly Reports on Form 10-Q, including
the sections therein captioned “Risk Factors” and in other
documents we file with the Securities and Exchange
Commission.
UDENYCA®, YUSIMRY™ and CIMERLI™, whether or not appearing in
large print or with the trademark symbol, are trademarks of
Coherus, its affiliates, related companies or its licensors or
joint venture partners, unless otherwise noted. Trademarks and
trade names of other companies appearing in this Press Release are,
to the knowledge of Coherus, the property of their respective
owners.
Coherus BioSciences Contact Information:
Cheston TurbyfillCoherus BioSciences, Inc.IR@coherus.com
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