Coherus BioSciences Announces New Employment Inducement Grants
REDWOOD CITY, Calif., June 19, 2020 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus” or the “Company”, Nasdaq: CHRS), today announced that effective June 18, 2020, the compensation committee of the Company’s board of directors granted options to purchase an aggregate of 93,000 shares of the common stock of the Company to seven newly hired non-officer employees, with a per share exercise price of $16.98, the closing trading price on the grant date.
An Executive Vice President was granted an option to purchase 125,000 shares of the Company’s common stock, with a per share exercise price of $16.98, the closing trading price on the grant date.
A Vice President was granted an option to purchase 35,000 shares of the Company’s common stock, with a per share exercise price of $16.98, the closing trading price on the grant date, and 10,000 restricted stock units.
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 BioSciences, Inc.
Coherus is a leading biosimilar company that develops and commercializes its own high-quality therapeutics as well as those of others seeking capable access to the United States market. 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 proven industry veterans with world-class expertise in process science, analytical characterization, protein production, sales and marketing and clinical-regulatory development, Coherus is positioned as a leader in the global biosimilar marketplace. Coherus commercializes UDENYCA® (pegfilgrastim-cbqv) in the United States and has received regulatory approval for UDENYCA® in the European Union. Coherus is advancing late-stage clinical products CHS-1420, a Humira® (adalimumab) biosimilar, Bioeq’s Lucentis® (ranibizumab) biosimilar and Innovent’s Avastin® (bevacizumab) biosimilar towards commercialization, and early-stage clinical products, CHS-2020, an Eylea® (aflibercept) biosimilar, and CHS-131, a small molecule for nonalcoholic steatohepatitis (NASH) and multiple sclerosis. For additional information, please visit
Contact
David S. Arrington
Investor Relations & Corporate Affairs
Coherus BioSciences, Inc.
+1 (650) 395-0196
