Coherus BioSciences Announces New Employment Inducement Grants
REDWOOD CITY, Calif., March 19, 2019 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (Nasdaq: CHRS), today announced that effective March 13, 2019, the compensation committee of the company’s board of directors granted the newly hired Chief Legal Officer an option to buy 225,000 shares of the company’s common stock with a per share exercise price of $14.84, the closing trading price on the grant date, and 10,000 restricted stock units.
A Vice President and five new employees were also granted options to purchase 50,000 shares and an aggregate of 32,500 shares of the company’s common stock, respectively, with a per share exercise price of $14.84, the closing trading price on the grant date.
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 BioSciences 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 BioSciences is positioned as a leader in the global biosimilar marketplace. Coherus BioSciences commercializes UDENYCA™ (pegfilgrastim-cbqv) in the U.S. and has received regulatory approval for UDENYCA™ in the European Union. Coherus BioSciences is advancing two late-stage clinical products towards commercialization, CHS-1420 (adalimumab biosimilar) and CHS-0214 (etanercept biosimilar), and developing a robust pipeline of future products in ophthalmology (including CHS-3351, a ranibizumab biosimilar, and CHS-2020, an aflibercept biosimilar), as well as CHS-131, a small molecule for nonalcoholic steatohepatitis (NASH) and multiple sclerosis. For additional information, please visit www.coherus.com.
David S. ArringtonVP, Investor Relations & Corporate AffairsCoherus BioSciences, Inc.email@example.com+1 (650) 395-0196