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BRIEF-Coherus Biosciences says completed restructuring plan to reduce operating costs
June 27, 2017 / 8:37 PM / 2 months ago

BRIEF-Coherus Biosciences says completed restructuring plan to reduce operating costs

June 27 (Reuters) - Coherus Biosciences Inc

* Says commenced and completed, a restructuring plan to reduce operating costs and better align its workforce

* Coherus biosciences - decision followed u.s. Fda's june 12, issuance of complete response letter for chs-1701

* Says under this plan, company reduced its workforce by 51 employees (approximately 30%)

* Coherus biosciences says it estimates that it will incur aggregate restructuring charges of about $3.7 million, which will be recorded in q2 of 2017

* Coherus biosciences - majority of cash payments related to personnel-related restructuring charges will be paid during q3 of 2017

* Says expects that workforce reduction will decrease its annual operating costs by approximately $10 million Source text for Eikon: Further company coverage:

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