Coherus Announces $75 Million Public Offering

May 25, 2018: By Jon Swedien

Coherus BioSciences plans to raise $75 million in an underwritten public offering, the Redwood City, California, company announced May 22.

Coherus priced nearly 5.2 million shares of common stock at $14.50.

The company said it also expects to grant the underwriters a 30-day option to buy up to an additional $11.25 million of shares of its common stock at the public offering price, less the underwriting discount.

Coherus said it will use the money to build a commercial team and infrastructure and for other activities related to the launch of CHS-1701—a biosimilar of Neulasta, a bone marrow stimulant.

The company will also use the net proceeds for the ongoing manufacturing, development, and clinical trial activities related to its other biosimilar candidates—which include a biosimilar for Humira, which is indicated for uveitis in Europe, and a biosimilar for Lucentis.

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