Coherus BioSciences Enters Material Definitive Agreement
Ticker: CHRS · Form: 8-K · Filed: Jul 2, 2024 · CIK: 1512762
Sentiment: neutral
Topics: material-definitive-agreement
Related Tickers: CHRS
TL;DR
CHRS signed a big deal, details to come.
AI Summary
On June 27, 2024, Coherus BioSciences, Inc. entered into a Material Definitive Agreement. This agreement is related to the company's operations and is a significant event for the company.
Why It Matters
This filing indicates a significant new agreement for Coherus BioSciences, which could impact its future business operations and financial performance.
Risk Assessment
Risk Level: medium — Material definitive agreements can introduce new risks or opportunities, and the lack of specific details in this initial filing warrants a medium risk assessment.
Key Players & Entities
- Coherus BioSciences, Inc. (company) — Registrant
- June 27, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- 333 Twin Dolphin Drive, Suite 600 (address) — Principal executive offices
- Redwood City, CA 94065 (address) — Principal executive offices
FAQ
What is the nature of the Material Definitive Agreement entered into by Coherus BioSciences?
The filing states that Coherus BioSciences, Inc. entered into a Material Definitive Agreement on June 27, 2024, but does not provide specific details about the agreement's nature or terms.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on June 27, 2024.
What is the exact name of the registrant?
The exact name of the registrant is Coherus BioSciences, Inc.
In which state was Coherus BioSciences, Inc. incorporated?
Coherus BioSciences, Inc. was incorporated in Delaware.
What is the principal executive office address for Coherus BioSciences, Inc.?
The principal executive office address is 333 Twin Dolphin Drive, Suite 600, Redwood City, CA 94065.
Filing Stats: 727 words · 3 min read · ~2 pages · Grade level 13.8 · Accepted 2024-07-02 08:30:13
Key Financial Figures
- $0.0001 — ge on which registered Common Stock, $0.0001 par value per share CHRS The Nasdaq
- $6.25 million — ay to the Company an upfront payment of $6.25 million United States Dollars ("USD"). In addit
- $51.5 million — uivalent of up to an aggregate of up to $51.5 million Canadian Dollars ("CAD") in milestone p
Filing Documents
- chrs-20240627x8k.htm (8-K) — 36KB
- 0001558370-24-009650.txt ( ) — 188KB
- chrs-20240627.xsd (EX-101.SCH) — 4KB
- chrs-20240627_def.xml (EX-101.DEF) — 3KB
- chrs-20240627_lab.xml (EX-101.LAB) — 12KB
- chrs-20240627_pre.xml (EX-101.PRE) — 11KB
- chrs-20240627x8k_htm.xml (XML) — 5KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement On June 27, 2024, Coherus BioSciences, Inc. (the "Company") entered into an exclusive license and distribution agreement (the "License Agreement") with Apotex, Inc. ("Apotex"), pursuant to which, the Company has granted to Apotex an exclusive license under the Company's rights to toripalimab to commercialize toripalimab within Canada. As previously disclosed, on February 1, 2021, Coherus BioSciences, Inc. (the "Company") announced that it had entered into the exclusive license and commercialization agreement (the "Collaboration Agreement") with Shanghai Junshi Biosciences Co., Ltd. ("Junshi Biosciences") for the co-development and commercialization of toripalimab, Junshi Biosciences' anti-PD-1 antibody, in the United States and Canada. Pursuant to the Collaboration Agreement, the Company has the right to grant sublicenses to third parties to commercialize toripalimab within Canada. Pursuant to the License Agreement, Apotex agreed to pay to the Company an upfront payment of $6.25 million United States Dollars ("USD"). In addition, Apotex agreed to pay to the Company the USD equivalent of up to an aggregate of up to $51.5 million Canadian Dollars ("CAD") in milestone payments in connection with the achievement of certain regulatory and sales milestones with respect to toripalimab in Canada. Finally, Apotex agreed to pay to the Company a low double-digit percentage of any future net sales of toripalimab in Canada that the Company will subsequently pay to Junshi Biosciences pursuant to the Collaboration Agreement. The License Agreement term continues until the tenth year after the first commercial sale of toripalimab in Canada, subject to an extension for a subsequent ten year term at the option of Apotex. Apotex may terminate the License Agreement for any reason after a specified notice period, the License Agreement will terminate automatically if the rights granted to the Company by the Collaboration Agreement
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: July 2, 2024 COHERUS BIOSCIENCES, INC. By: /s/ Dennis M. Lanfear Name: Dennis M. Lanfear Title: Chief Executive Officer