Business Context and Reporting Period
Coherus BioSciences, Inc. filed a Current Report on Form 8-K dated December 10, 2014. The filing reports the entry into a material definitive agreement regarding the expansion of the company's principal executive offices located at 201 Redwood Shores Parkway, Redwood City, California.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, debt, or liquidity metrics. The only financial data provided relates to incremental lease costs:
- 2015 Base Rent Increase: Approximately $0.15 million
- 2016 Base Rent Increase: Approximately $0.16 million
- 2017 Base Rent Increase: Approximately $0.05 million
Material Changes
On December 10, 2014, the Company entered into the Fifth Amendment to Lease with CA-Towers at Shores Center Limited Partnership. This amendment adds approximately 2,411 square feet of leased space effective immediately. The lease term extends until its expiration on April 30, 2017.
Guidance, Outlook, and Risks
The filing contains no management guidance, outlook, or discussion of risks beyond the specific terms of the lease amendment. No unusual items or contingencies were disclosed in this report.
Key Facts for Investor Verification
- Verify the total square footage of the Company's facilities post-expansion.
- Confirm the total annualized rent obligation including the incremental costs listed above.
- Review the full text of the Fifth Amendment to Lease (Exhibit 10.1) for any additional covenants or termination clauses.
- Note that the lease expires on April 30, 2017, requiring future renewal or relocation planning.