---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-015582"
form_type: "8-K"
ticker: "CHRS"
cik: "0001512762"
company_name: "Coherus Oncology, Inc."
filed_at: "2023-09-08T23:59:59+00:00"
generated_at: "2026-06-10T22:07:52.110180+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Coherus completes acquisition of Surface Oncology for ~$66.9M in stock and CVRs

## Summary
- Coherus issued 0.1960 shares per Surface share for total consideration of ~$66.9M ($40M + 26.9M net cash).
- Surface shareholders received CVRs for 70% of milestone/royalty value from Novartis and GSK programs, and 25-50% of future ex-US licensing payments for CHS-114 and casdozokitug.
- Acquired pipeline: toripalimab (anti-PD-1 under BLA review), casdozokitug (IL-27 antibody Phase 2), CHS-114 (CCR8 antibody Phase 1/2), CHS-006 (TIGIT antibody Phase 1/2).
- Surface common stock delisted from Nasdaq Capital Market effective September 8, 2023.

## SEC filing metadata
- accession: 0001558370-23-015582
- form_type: 8-K
- ticker: CHRS
- cik: 0001512762
- company_name: Coherus Oncology, Inc.
- filed_at: 2023-09-08T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1512762/000155837023015582/0001558370-23-015582-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1512762/000155837023015582/chrs-20230908x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-015582
- JSON: https://secwatch.observer/filing/0001558370-23-015582.json
- Plain text: https://secwatch.observer/filing/0001558370-23-015582.txt

## Key facts
- M&A Transactions
  Coherus Oncology, Inc. completed an acquisition involving Surface Oncology, Inc. for approximately $66.9 million (closed 2023-09-08).
  - Action: acquisition
  - Counterparty: Surface Oncology, Inc.
  - Consideration: approximately $66.9 million
  - Closing: 2023-09-08
  source text: Surface employee equity awards (which exchange ratio was calculated based on a $5.2831 per share price of Coherus common stock) for a total value equal to approximately $66.9 million, the sum of $40 million plus Surface’s net cash at closing of the transaction of $26.9 million. Surface shareholders also received contingent value rights (CVRs) for 70% of
  evidence_url: https://www.sec.gov/Archives/edgar/data/1512762/000155837023015582/0001558370-23-015582-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.