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Health and Healthcare

Coherus Files for IPO: Biotech to Biosimilars

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By Chris Lange Updated Published
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Coherus Biosciences Inc. filed an S-1 with the Securities and Exchange Commission for an initial public offering. No terms were given for the offering but it has filed to raise up to $86.25 million. The company plans to list on the Nasdaq Global Market under the symbol CHRS. The underwriters for this offering are J.P. Morgan, Cowen and Co. and Credit Suisse.

Coherus is a late-stage clinical biologics platform company focused on the global biosimilar market. Biosimilars are an emerging class of protein-based therapeutics with a similarity to approved originator products in terms of various physicochemical and structural properties, as well as in terms of safety, purity and potency.

Since its founding in 2010, the company has advanced one product candidate into Phase 3 clinical development and two others into or through Phase 1 clinical development. It has currently entered into partnerships with two global pharmaceutical companies.

ALSO READ: 5 Orphan Drug Biotech Stocks to Buy With Big Upside Potential

The clinical stage pipeline has two anti-inflammatory agents that target tumor necrosis and a long acting form of granulocyte colony-stimulating factor. For the Coherus Pipeline see their diagram below.

The proceeds from this offering will be going directly to financing the development of each of the product candidates, but an amount for each has not yet been decided. Further use of the proceeds will go towards workings capital and other general corporate purposes which may include the licensing of other products or technologies.

Coherus pipeline
Coherus.com

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.

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