Coherus BioSciences Announces New Employment Inducement Grants
REDWOOD CITY, Calif., Nov. 08, 2019 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus” or the “Company”, Nasdaq: CHRS), today announced that effective November 7, 2019, the compensation committee of the Company’s board of directors granted options to purchase 77,000 shares of the common stock of the Company to eight newly hired non-officer employees, with a per share exercise price of $19.00, the closing trading price on the grant date.
A Vice President was also granted an option to purchase 22,500 shares of the company’s common stock, with a per share exercise price of $19.00, the closing trading price on the grant date, and 11,250 restricted stock units.
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 high-quality therapeutics for major regulated markets. 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 and clinical-regulatory development, Coherus is positioned as a leader in the global biosimilar marketplace. Coherus commercializes UDENYCA® (pegfilgrastim-cbqv) in the U.S. and has received regulatory approval for UDENYCA® in the European Union. Coherus is advancing a late-stage clinical product CHS-1420 (adalimumab biosimilar) and Bioeq’s Lucentis® (ranibizumab biosimilar) towards commercialization, and early-stage clinical products, CHS-2020, an Eylea® (aflibercept biosimilar), and CHS-131, a small molecule for nonalcoholic steatohepatitis (NASH) and multiple sclerosis. For additional information, please visit www.coherus.com.
David S. Arrington
VP, Investor Relations & Corporate Affairs
Coherus BioSciences, Inc.
+1 (650) 395-0196