Coherus Biosciences Inc. started an underwritten public offering of $75 million of its common shares.
Redwood City, Calif.-based Coherus plans to grant the underwriters an option to buy up to an additional $11.3 million of shares at the offering price.
The company intends to use the net proceeds to launch its late-stage clinical products CHS-1701 and for ongoing manufacturing, development and clinical trial activities related to its other products.
Coherus will use remaining proceeds, if any, for its working capital and other general corporate purposes.
J.P. Morgan and Citigroup will act as joint book-running managers for the offering. Mizuho Securities will act as lead manager, and Baird, H.C. Wainwright & Co. and Maxim Group LLC will act as co-managers for the offering.
