Coherus BioSciences, Inc. announced yesterday that it had commenced an underwritten public offering of common stock valued at $125 million. These shares are being offered directly by Coherus in conjunction with an expected grant of a 30-day option to the offering underwriters to purchase an additional $18.75 million in common stock at the public offering price to cover overallotments.
Coherus said that it intends to use the public offering to raise funds for sales, marketing, inventory and other launch costs of CHS-1701, its pegfilgrastim biosimilar. Funds will also be allocated to ongoing clinical trial and manufacturing activities related to CHS-0214, its etanercept biosimilar, and CHF-1420, its adalimumab biosimilar.
Stay tuned to Big Molecule Watch for more updates.
