Business Context and Reporting Period
Coherus BioSciences, Inc. filed a Form 8-K Current Report on June 9, 2015, regarding the entry into a material definitive agreement. The company is a biopharmaceutical firm focused on developing biosimilars.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, debt, or liquidity metrics. The only financial figure disclosed is a contractual obligation of up to approximately $21.6 million for clinical study services.
Material Changes
On June 9, 2015, Coherus executed a task order with Medpace, Inc. under an existing master services agreement dated January 23, 2012. This agreement obligates Coherus to pay for services related to a Phase 3, open-label, safety extension study for CHS-0214, an etanercept (Enbrel) biosimilar candidate.
Outlook, Risks, and Unusual Items
Coherus intends to submit a request for confidential treatment to the SEC to redact certain portions of the Task Order. The full text of the agreement will be filed as an exhibit to the Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2015. No specific guidance or management commentary regarding future financial performance is provided in this document.
Investor Verification Checklist
- Verify the final terms of the Task Order once the Form 10-Q for the quarter ended June 30, 2015, is filed.
- Confirm the status of the Phase 3 safety extension study for CHS-0214.
- Review the company's cash position in upcoming filings to assess the impact of the $21.6 million obligation.