COHERUS BIOSCIENCES, INC. (NASDAQ:CHRS) Files An 8-K Entry into a Material Definitive Agreement
Item1.01.
| Entry into a Material Definitive Agreement. |
On February7, 2017, Coherus BioSciences, Inc. (the Company)
entered into an underwriting agreement (the Underwriting
Agreement) with J.P. Morgan Securities LLC and Citigroup Global
Markets Inc. as representatives of the several underwriters named
therein (collectively, the Underwriters), to which the Company
agreed to issue and sell an aggregate of 5,154,640 shares (the
Shares) of its common stock, par value $0.0001 per share (Common
Stock) to the Underwriters (the Offering). The Shares were sold
at a public offering price of $24.25 per Share, and were
purchased by the Underwriters from the Company at a price of
$22.795 per Share. Under the terms of the Underwriting Agreement,
the Company granted the Underwriters an option for 30 days to
purchase up to an additional 773,196 shares of Common Stock,
solely to cover over-allotments.
The Offering was made under a prospectus supplement and related
prospectus filed with the Securities and Exchange Commission to
the Companys effective shelf registration statement on Form S-3
(Registration No.333-208625).
The Offering closed on February13, 2017. The Company received net
proceeds from the Offering of approximately $117.1million, after
deducting the Underwriters discounts and commissions and
estimated offering expenses payable by the Company.
A copy of the Underwriting Agreement is attached as Exhibit 1.1
hereto and is incorporated herein by reference. The foregoing
descriptions of the Underwriting Agreement do not purport to be
complete and are qualified in their entirety by reference to such
exhibits.
A copy of the opinion of Latham Watkins LLP relating to the
validity of the securities issued in the Offering is filed
herewith as Exhibit 5.1.
| Item8.01. | Other Events. |
The full text of the press release announcing the proposed
underwritten public offering on February7, 2017 and the full text
of the press release announcing the pricing of the underwritten
public offering on February8, 2017 are attached as Exhibits 99.1
and 99.2 hereto and are incorporated herein by reference.
| Item9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
See Exhibit Index attached hereto.
About COHERUS BIOSCIENCES, INC. (NASDAQ:CHRS)
Coherus BioSciences, Inc. is a late-stage clinical biologics platform company. The Company is focused on the global biosimilar market. The Company operates through developing and commercializing biosimilar products segment. Its business is organized around therapeutic franchises, including Oncology biosimilar candidates pegfilgrastim (Neulasta), in late clinical-stage, and bevacizumab (Avastin), in preclinical-stage; Immunology (Anti-TNF) biosimilar candidates, etanercept (Enbrel) and adalimumab (Humira), which are both in late clinical-stage; Ophthalmology biosimilar candidate ranibizumab (Lucentis) in preclinical stage, and Multiple sclerosis small molecule therapeutic candidate, CHS-131 (formerly INT-131), in Phase II proof-of-concept trial. Its long-acting granulocyte colony-stimulating factor (G-CSF) product candidate, CHS-1701, is a pegfilgrastim (Neulasta) biosimilar. Its clinical-stage pipeline consists of two anti-Tumor Necrosis Factors (anti-TNFs). COHERUS BIOSCIENCES, INC. (NASDAQ:CHRS) Recent Trading Information
COHERUS BIOSCIENCES, INC. (NASDAQ:CHRS) closed its last trading session down -0.25 at 23.00 with 425,653 shares trading hands.
