Coherus BioSciences Announces New Employment Inducement Grants

Rhea-AI Summary

Coherus BioSciences, Inc. (Nasdaq: CHRS) announced on October 16, 2020, that its compensation committee granted stock options and restricted stock units to newly hired executives. The newly appointed Executive Vice President received an option for 150,000 shares, while a Senior Vice President received options for 100,000 shares. Two Vice Presidents were granted options for 45,000 shares each. Additionally, seven non-officer employees were granted a total of 92,000 shares. All options have an exercise price of $18.09, the closing price on the grant date. Coherus specializes in biosimilar therapeutics.

Positive

• Granting stock options to new executives may enhance talent acquisition and retention.
• The exercise price of $18.09 aligns with the current market price, potentially motivating performance.

Negative

• None.

REDWOOD CITY, Calif., Oct. 16, 2020 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus” or the “Company”, Nasdaq: CHRS), today announced that effective October 15, 2020, the compensation committee of the Company’s board of directors granted a newly hired Executive Vice President an option to buy 150,000 shares of the Company’s common stock with a per share exercise price of $18.09, the closing trading price on the grant date, and 10,000 restricted stock units.

A newly hired Senior Vice President was granted an option to purchase 100,000 shares of the Company’s common stock, and two newly hired Vice Presidents were each granted options to purchase 45,000 shares of the Company’s common stock, all with a per share exercise price of $18.09, the closing trading price on the grant date.

An aggregate of 92,000 shares of the common stock of the Company were also granted to seven newly hired non-officer employees, with a per share exercise price of $18.09, the closing trading price on the grant date.

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 October 15, 2020?

On October 15, 2020, Coherus BioSciences granted options to several newly hired executives, including 150,000 shares to the Executive Vice President and 100,000 shares to the Senior Vice President, all at an exercise price of $18.09.

How many shares were granted to non-officer employees by Coherus BioSciences?

Coherus BioSciences granted an aggregate of 92,000 shares to seven newly hired non-officer employees.

What is the significance of the stock options granted to new executives at CHRS?

The stock options may enhance talent acquisition and retention by aligning executive interests with shareholder performance.

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

The exercise price for all stock options granted on October 15, 2020, is $18.09, which was the closing trading price on that date.