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Coherus BioSciences Announces New Employment Inducement Grants
REDWOOD CITY, Calif., Feb. 17, 2017 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (Nasdaq:CHRS), today announced that effective February 16, 2016, the compensation committee of the company’s board of directors granted 6 new employees options to purchase an aggregate of 155,000 shares of the company’s common stock with a per share exercise price of $23.00, the closing trading price on the grant date. In addition, options to purchase 45,000 shares of common stock were granted to a Vice President, Regulatory Affairs new hire under the same terms. Finally, a Senior Vice President, Clinical Development new hire was granted options to purchase 125,000 shares of common stock under the same terms as well as restricted stock units underlying 12,000 shares of common stock. The stock options and restricted stock units 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 pure-play, global 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 & marketing and clinical-regulatory development, Coherus is positioned as a leader in the global biosimilar marketplace. Coherus is advancing three late-stage clinical products towards commercialization, CHS-1701 (pegfilgrastim biosimilar), CHS-0214 (etanercept biosimilar) and CHS-1420 (adalimumab biosimilar), as well as developing a robust pipeline of future products in four therapeutic areas, oncology, immunology (anti-TNF), ophthalmology and multiple sclerosis. For additional information, please visit www.coherus.com.
CONTACT: CONTACT: Patrick O’Brien Senior Vice President, Investor Relations Coherus BioSciences, Inc. email@example.com +1 (650) 649-3527