Business
Apellis Pharmaceuticals Reports First Quarter 2020 Financial Results
Full Enrollment of Two Phase 3 Trials in Geographic Atrophy Expected in the Second Quarter of 2020Meetings with US and EU Regulators to Discuss Submissions in
About this update from Apellis Pharmaceuticals, Inc.
[{"type":"text","content":"Full Enrollment of Two Phase 3 Trials in Geographic Atrophy Expected in the Second Quarter of 2020Meetings with US and EU Regulators to Discuss Submissions in Paroxysmal Nocturnal Hemoglobinuria (PNH) Planned for the Second Quarter of 2020Completion of Enrollment in Phase 3 PRINCE Trial in Treatment-Naïve PNH Patients also Expected in Second Quarter of 2020 Cash and Investments of $648 Million as of March 31, 2020 WALTHAM, Mass., April 29, 2020 (GLOBE NEWSWIRE) -- Apellis Pharmaceuticals, Inc. (Nasdaq: APLS), a global biopharmaceutical company pioneering targeted C3 therapies, today announced its first quarter 2020 financial results and business highlights.\n “This past quarter, the COVID-19 pandemic presented the biotechnology industry – and the world – with many serious challenges. At Apellis, we have been fortunate on several fronts. In addition to being well capitalized and recently announcing positive Phase 3 data for pegcetacoplan in PNH, we had achieved strong initial enrollment in our ongoing Phase 3 trials prior to the slowdown related to COVID-19. I am most grateful, however, for our employees who have shown exceptional focus and a strong dedication to our mission of helping patients with debilitating diseases despite these challenging circumstances,” said Cedric Francois, M.D., Ph.D., co-founder and chief executive officer of Apellis. “Our team has done a tremendous job adapting to the rapidly changing conditions while always keeping patient safety at the forefront,” Dr. Francois continued. “We are therefore able to reiterate our previous guidance for upcoming clinical milestones, including the full enrollment of our two Phase 3 trials in geographic atrophy and the Phase 3 PRINCE trial in treatment-naïve PNH patients. We also look forward to meeting with the FDA and EMA this quarter to discuss next steps for regulatory submissions for pegcetacoplan in PNH.” COVID-19 Business Update: Ongoing Clinical Trials Apellis is committed to advancing its ongoing clinical trials and reaching its milestones in line with previous guidance. The company is monitoring risks associated with potential interruptions in its clinical study sites and contract research organizations. Apellis does not at this time expect any delays in its previously announced clinical milestone timing. Drug Supply The company has drug supply sufficient to com...