Brief: Coherus To Acquire Surface Oncology

Surface Oncology

16/06/2023 12:08

June 16 (Reuters) - Coherus BioSciences Inc  CHRS.O :
    * COHERUS TO ACQUIRE SURFACE ONCOLOGY
    * SURFACE ONCOLOGY INC - STOCK FOR STOCK TRANSACTION VALUED
AT UP
TO $65 MILLION
    * SURFACE ONCOLOGY INC - COHERUS PROJECTS $48 - 53 MILLION
OF NET
PRODUCT REVENUE IN 2Q 2023, AND AFFIRMS PRIOR FY 2023 REVENUE
AND EXPENSE GUIDANCE
    * SURFACE ONCOLOGY INC - SURFACE IS IMPLEMENTING A WORKFORCE
REDUCTION OF APPROXIMATELY 50% OF ITS EMPLOYEES
    * SURFACE ONCOLOGY INC - COHERUS WILL ISSUE SHARES OF COMMON
STOCK
AT A PRICE OF $5.2831 PER SHARE TO ACQUIRE ALL OUTSTANDING
SHARES OF SURFACE STOCK
    * SURFACE ONCOLOGY INC - FOR Q2 2023, COHERUS EXPECTS TO
REPORT AT
LEAST $48 - 53 MILLION OF NET PRODUCT REVENUE FROM SALES OF
UDENYCA AND CIMERLI
    * SURFACE ONCOLOGY INC - FOR FISCAL YEAR 2023, COHERUS
CONTINUES
TO PROJECT NET REVENUES IN EXCESS OF $275 MILLION
    * SURFACE ONCOLOGY INC - TRANSACTION WAS UNANIMOUSLY
APPROVED BY
BOARDS OF BOTH COMPANIES

Source text for Eikon:  ID:nGNX3R7zkK 
Further company coverage:  CHRS.O