Coherus BioSciences Announces New Employment Inducement Grants

Rhea-AI Summary

Coherus BioSciences announced on September 18, 2020, that it granted stock options to new employees, totaling 118,000 shares for non-officer staff and 45,000 shares for a Vice President. The exercise price is set at $19.07, the closing price on the grant date, September 17, 2020. This action is part of the 2016 Employment Commencement Incentive Plan to attract new talent. Coherus specializes in biosimilar therapeutics and has commercialized UDENYCA (pegfilgrastim-cbqv), while advancing several late-stage biosimilar candidates.

Positive

• Granted 118,000 shares in stock options to new employees, indicating company growth and recruitment.
• Exercise price set at $19.07 aligns with the market, showing commitment to fair compensation.

Negative

• None.

REDWOOD CITY, Calif., Sept. 18, 2020 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus” or the “Company”, Nasdaq: CHRS), today announced that effective September 17, 2020, the compensation committee of the Company’s board of directors granted options to purchase an aggregate of 118,000 shares of the common stock of the Company to six newly hired non-officer employees, with a per share exercise price of $19.07, the closing trading price on the grant date.

A Vice President was also granted an option to purchase 45,000 shares of the Company’s common stock, with a per share exercise price of $19.07, 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 biologics company that develops and commercializes its own high-quality biosimilar therapeutics as well as those of others seeking capable access to the United States market. Composed of a team of proven industry veterans with world-class expertise in product development and commercialization, Coherus is positioned as a leader in the global biosimilar marketplace. Headquartered in the United States, Coherus is committed to reducing healthcare system costs and expanding patient access of essential therapeutics.

Coherus has commercialized UDENYCA^® (pegfilgrastim-cbqv) in the United States and 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. The Company is also advancing early-stage clinical products including, 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 stock options were granted by Coherus BioSciences on September 18, 2020?

Coherus BioSciences granted options for 118,000 shares to new employees and 45,000 shares to a Vice President.

What is the exercise price for the stock options granted by Coherus?

The exercise price for the stock options is $19.07, the closing price on the grant date.

What plan was used for the stock option grants at Coherus?

The stock options were granted under the 2016 Employment Commencement Incentive Plan approved by the board.

How does Coherus BioSciences plan to attract new talent?

Coherus aims to attract new talent through stock options as part of their employment incentive plan.