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Coherus BioSciences (Nasdaq:CHRS) today announced the pricing of its underwritten public offering of 5,172,413 shares of its common stock at a price to the public of $14.50 per share. All of the shares of the common stock to be sold in the offering will be offered by Coherus. In addition, Coherus has granted the underwriters …
Coherus BioSciences (Nasdaq:CHRS) today announced the pricing of its underwritten public offering of 5,172,413 shares of its common stock at a price to the public of $14.50 per share. All of the shares of the common stock to be sold in the offering will be offered by Coherus. In addition, Coherus has granted the underwriters a 30-day option to purchase up to an additional 775,861 shares of its common stock at the public offering price, less the underwriting discount.
As quoted in the press release:
Coherus intends to use the net proceeds from this offering to build the commercial team and infrastructure to support the launch of CHS-1701, to manufacture the inventory and other manufacturing related activities to support the launch and subsequent commercial supply of CHS-1701 after approval, and for ongoing manufacturing, development and clinical trial activities related to CHS-0214, CHS-1420, CHS-3351, CHS-2020 and CHS-131. If there are any remaining net proceeds from this offering, we intend to use them for working capital and other general corporate purposes.
The offering is expected to close on or about May 25, 2018, subject to satisfaction of customary closing conditions.