Coherus raises $85M in IPO

Coherus BioSciences Inc. (NASDAQ:CHRS) fell $0.89 to $12.61 in its first day of trading Thursday after raising $85 million in an IPO on NASDAQ through the sale of 6.3 million shares at $13.50. The IPO price valued Coherus at $432.7 million. JP Morgan; Credit Suisse; and Cowen are underwriters.

The company filed last month to raise up to $86.3 million under the Jumpstart Our Business Startups Act of 2012, or JOBS Act. ...