secwatch.observer — SEC 8-K summary
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Issuer:     Surface Oncology, Inc. (—)
CIK:        0001718108
Form:       8-K
Filed at:   2023-09-08T23:59:59+00:00
Accession:  0001193125-23-231197
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.01, 3.01, 3.03, 5.01, 5.02, 5.03, 5.07, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Coherus closes acquisition of Surface Oncology for ~$66.9M; adds IL-27 and CCR8 assets
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- Coherus issued 0.1960 shares per Surface share for a total value of ~$66.9M ($40M plus $26.9M net cash of Surface).
- Surface shareholders received CVRs for 70% of Novartis/GSK program milestones and 25-50% of ex-US licensing payments for CHS-114 and casdozokitug.
- Acquisition adds clinical-stage assets: toripalimab (anti-PD-1), casdozokitug (IL-27), CHS-114 (CCR8), and CHS-006 (TIGIT).
- Surface common stock delisted from Nasdaq effective prior to market open on September 8, 2023; now wholly owned subsidiary of Coherus.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1718108/000119312523231197/0001193125-23-231197-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1718108/000119312523231197/d525254d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-231197

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer