Coherus (CHRS) Announces $50M Proposed Public Offering of Common Stock

Coherus BioSciences, Inc. (“Coherus”, Nasdaq: CHRS), today announced that it has commenced an underwritten public offering of $50.0 million of shares of its common stock. In addition, Coherus expects to grant the underwriters a 30-day option to purchase up to an additional $7.5 million of shares of its common stock at the public offering price, less the underwriting discount. All of the shares of common stock to be sold in the offering will be offered by Coherus. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the proposed offering may be completed, or as to the actual size or terms of the proposed offering.

Coherus intends to use substantially all of the net proceeds from this offering for general corporate purposes, including the cost of manufacturing clinical and commercial supplies of product candidates and products. Coherus may also use a portion of the net proceeds from this offering, together with existing cash, cash equivalents and marketable securities, to in-license, acquire or invest in complementary businesses, technologies, products or assets. If there are any remaining net proceeds from this offering, Coherus intends to use them for working capital and other general corporate purposes.

J.P. Morgan and Citigroup will act as co-lead book-running managers for the offering. Mizuho will act as lead manager for the offering.

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