Coherus BioSciences Announces New Employment Inducement Grants

Rhea-AI Summary

Coherus BioSciences, Inc. (Nasdaq: CHRS) granted options to purchase 66,000 shares of common stock to five newly hired non-officer employees, effective December 17, 2020. The exercise price is set at $17.78 per share, reflecting the closing price on the grant date. This action was executed under the 2016 Employment Commencement Incentive Plan approved by the company's board. Coherus specializes in developing biosimilars, including UDENYCA® and several other product candidates targeting chronic diseases, aiming to enhance patient access and reduce healthcare costs.

Positive

• Granting stock options promotes talent acquisition and employee retention.
• Strong positioning in the biosimilar market with ongoing product development.

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• None.

REDWOOD CITY, Calif., Dec. 21, 2020 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus” or the “Company”, Nasdaq: CHRS), today announced that effective December 17, 2020, the compensation committee of the Company’s board of directors granted options to purchase an aggregate of 66,000 shares of the common stock of the Company to 5 newly hired non-officer employees, with a per share exercise price of $17.78, the closing trading price on the grant date.

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, clinical-regulatory development and commercialization, Coherus is positioned as a leader in the global biosimilar marketplace. Coherus commercializes UDENYCA^® (pegfilgrastim-cbqv) in the United States and is advancing additional product candidates including CHS-1420, a Humira^® (adalimumab) biosimilar, Bioeq’s Lucentis^® (ranibizumab) biosimilar, Innovent’s Avastin^® (bevacizumab) biosimilar towards commercialization, as well as CHS-2020, an Eylea^® (aflibercept) biosimilar. For additional information, please visit www.coherus.com.

Contact

David S. Arrington
Investor Relations & Corporate Affairs
Coherus BioSciences, Inc.
darrington@coherus.com
+1 (650) 395-0196

FAQ

What recent stock option grant occurred for Coherus BioSciences (CHRS)?

Coherus BioSciences granted options to purchase 66,000 shares of common stock to five new employees as of December 17, 2020.

What is the exercise price for the new stock options granted by CHRS?

The exercise price for the stock options is $17.78 per share, based on the closing price on the grant date.

What program authorized the recent stock option grants for Coherus (CHRS)?

The stock option grants were made under the 2016 Employment Commencement Incentive Plan approved by the Coherus board.

How does Coherus BioSciences (CHRS) aim to impact healthcare?

Coherus focuses on developing biosimilars to provide high-quality therapeutics, aiming to reduce costs and enhance patient access.