Biotech Values

[DewDiligence]

CHRS raises $75M in private placement—plans second tranche of $75M after FDA approval of Neulasta FoB (presumably in 2018):

https://globenewswire.com/news-release/2017/08/21/1090600/0/en/Coherus-Secures-Private-Placement-from-Temasek.html

Coherus BioSciences…today announced plans to raise up to $150 million in a two tranche private placement, the first tranche of $75 million in aggregate gross proceeds…with 6,556,116 shares of common stock to be issued at an offering price of $11.44 per share.

The offering price is a 3% premium to Friday’s close.

The second tranche is projected to be funded following receipt of the U.S. Food and Drug Administration’s marketing approval for the CHS-1701 pegfilgrastim biosimilar product candidate, subject to market pricing and certain closing conditions at that time, including each party’s final approval.

The buyer of the offering is Temasek, an investment company based in Singapore.