Coherus BioSciences Reports First Quarter 2015 Financial and Operating Results Pegfilgrastim Progressing to BLA-Enabling Studies

Coherus BioSciences Reports First Quarter 2015 Financial and Operating Results

Pegfilgrastim Progressing to BLA-Enabling Studies

REDWOOD CITY, Calif., May 11, 2015 Coherus BioSciences, Inc. (Nasdaq: CHRS), a leading pure-play, global biosimilars company with late-stage

clinical products, today reported financial results and reviewed corporate events for the first quarter ended March 31, 2015.

Coherus started the year with an excellent first quarter, including initiation of a BLA-enabling study for our pegfilgrastim biosimilar candidate.

Additionally, we expanded our etanercept biosimilar candidate collaboration with Baxter which now includes select pre-commercialization activities, said Denny Lanfear, president and chief executive officer of Coherus. From the proceeds

of our follow-on public offering, we continue to work on additional second wave pipeline products beyond our initial three first wave products.

First Quarter 2015 Financial Results

revenue for the first quarter 2015 was $5.8 million, as compared to $3.6 million in the first quarter of 2014. The higher revenue over the same period in 2014 was due to the recognition of increased Baxter collaboration revenue.

Research and development (R&D) expenses for the first quarter 2015 were $36.5 million compared with $13.9 million for the same period in

2014. Increases in R&D expenses were mainly attributable to an increase in program costs associated with the advancement of Coherus late-stage clinical product candidates, CHS-0214 and CHS-1701, as well as increased personnel

General and administrative (G&A) expenses for the first quarter 2015 were $6.1 million, compared to

$3.4 million for the same period in 2014. Increases in G&A expenses were mainly attributable to increased legal and accounting services and increased employee-related expenses in support of being a public company.

Net loss attributable to Coherus for the first quarter 2015 was $40.7 million, or $1.22 per share, compared to $25.2 million, or $6.03 per share, for

the same period in 2014.

Cash and cash equivalents totaled $115.1 million as of March 31, 2015, compared to $150.4 million as of

December 31, 2014. In April 2015, Coherus received approximately $112.2 million in net proceeds from its follow-on public offering.

Near Term Milestones

Conference Call Information

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Conference ID: 40598146

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The webcast of the conference call will be available for replay through May 25, 2015.

About Coherus BioSciences, Inc.

Coherus is a leading

pure-play, global biosimilar company with a focus on developing products for the major regulated markets. Composed of a team of industry veterans with decades of experience in bringing biologics to market, our goal is to become a worldwide leader in

the biosimilar market by leveraging our biologics platform in key areas such as process science, analytical characterization, protein production and clinical-regulatory development. Coherus possesses late stage clinical products and

commercialization partnerships with multinational pharmaceutical companies in Europe and Asia.

Biosimilars are intended for use in place of existing,

branded biologics to treat a range of chronic and often life-threatening diseases, with the potential to reduce costs and expand patient access. For additional information, please visit www.coherus.com.

Forward-Looking Statements

Except for the historical information contained herein, the matters set forth in this press release, including statements regarding Coherus plans,

potential opportunities, expectations, projections, goals, objectives, milestones, strategies, product pipeline, clinical studies, product development, release of data and the potential benefits of its products under development are forward-looking

statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including Coherus expectations regarding its ability to advance its CHS-1701, CHS-0214 and CHS-1420 biosimilar

drug candidates, initiate the Phase 3 clinical study in psoriasis for CHS-1420, recruit patients in BLA-enabling studies for CHS-1701, file BLAs for CHS-1701 and CHS-1420 in the U.S., file an MAA for CHS-0214 in the E.U., receive milestone payments

under its collaboration agreement with Baxter and advance Coherus product pipeline. Such forward-looking statements involve substantial risks and uncertainties that could cause our clinical development programs, future results, performance or

achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the clinical drug development process, including the regulatory

approval process, the timing of our regulatory filings and other matters that could affect the availability or commercial potential of our biosimilar drug candidates. Coherus undertakes no obligation to update or revise any forward-looking

statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Coherus business in general, see

Coherus Quarterly Report on Form 10-Q for the quarter ended March 31, 2015, filed with the Securities and Exchange Commission on May 11, 2015, and its future periodic reports to be filed with the Securities and Exchange Commission.

Enbrel and Neulasta are

registered trademarks of Amgen Inc.

Coherus BioSciences, Inc.

Condensed Consolidated Statements of Operations

(in thousands, except share and per share data)

Coherus BioSciences, Inc.

Condensed Consolidated Balance Sheets