Coherus BioSciences Announces New Employment Inducement Grants

Rhea-AI Summary

Coherus BioSciences, Inc. (CHRS) announced the grant of stock options for 140,500 shares to 10 newly hired non-officer employees on November 19, 2020. The options have an exercise price of $17.92, matching the closing stock price on the grant date. This issuance is part of the 2016 Employment Commencement Incentive Plan aimed at attracting new talent. Coherus is known for its biosimilars, including UDENYCA® (pegfilgrastim-cbqv) and several candidates in development targeting chronic and life-threatening diseases.

Positive

• Grant of options may incentivize new talent, potentially enhancing operational performance.
• Coherus is active in the biosimilar market with ongoing product development.

Negative

• None.

REDWOOD CITY, Calif., Nov. 20, 2020 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus” or the “Company”, Nasdaq: CHRS), today announced that effective November 19, 2020, the compensation committee of the Company’s board of directors granted options to purchase an aggregate of 140,500 shares of the common stock of the Company to 10 newly hired non-officer employees, with a per share exercise price of $17.92, 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 stock options were granted by Coherus BioSciences on November 19, 2020?

Coherus BioSciences granted options to purchase 140,500 shares to 10 newly hired non-officer employees at an exercise price of $17.92.

What is the purpose of the stock options granted by Coherus BioSciences?

The stock options are part of the 2016 Employment Commencement Incentive Plan to attract new employees.

What does Coherus BioSciences specialize in?

Coherus specializes in developing and commercializing biosimilars, including products to treat chronic and life-threatening diseases.

How does the stock option grant affect Coherus BioSciences investors?

The grant aims to strengthen the company's workforce, which may positively impact its market performance and growth.