Business Context and Reporting Period
Company: Coherus BioSciences, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: December 7, 2017
Subject: Update on pending patent infringement litigation involving Amgen Inc. and Coherus BioSciences, Inc. regarding U.S. Patent 8,273,707.
Key Financial Metrics
This filing is a current report regarding a legal event and does not contain financial statements. The filing text does not provide values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
Legal Development: On December 7, 2017, a United States Magistrate Judge in the District of Delaware issued a sealed Report and Recommendation. The Judge recommended that the District Court grant Coherus's motion to dismiss Amgen's complaint with prejudice for failure to state a claim under Federal Rule of Civil Procedure 12(b)(6).
Outlook, Risks, and Management Commentary
- Timeline: The Company expects a publicly available version of the Report and Recommendation within approximately two weeks.
- Next Steps: Further briefing by the parties is expected in the coming weeks.
- Decision Date: The Company anticipates the District Court will decide whether to adopt the Magistrate Judge's recommendation in the first quarter of 2018.
- Risk: While the recommendation favors Coherus, the final decision rests with the District Court and is not yet final.
Investor Verification Checklist
- Verify the public release of the Magistrate Judge's Report and Recommendation.
- Monitor filings for the District Court's final ruling on the motion to dismiss in Q1 2018.
- Assess the potential impact of a dismissal with prejudice on Coherus's commercialization plans for the relevant product.
- Review subsequent filings for any appeals or further litigation developments from Amgen.