Business
Apellis Pharmaceuticals Reports First Quarter 2023 Financial Results
Generated U.S. net product revenues of $18.4 million for SYFOVRE™ (pegcetacoplan injection) and $20.4 million for EMPAVELI® (pegcetacoplan) SYFOVRE launched
About this update from Apellis Pharmaceuticals, Inc.
[{"type":"text","content":"Generated U.S. net product revenues of $18.4 million for SYFOVRE™ (pegcetacoplan injection) and $20.4 million for EMPAVELI® (pegcetacoplan) SYFOVRE launched in the U.S. as the first and only treatment for geographic atrophy (GA) secondary to age-related macular degeneration (AMD)Validation received for marketing applications for intravitreal pegcetacoplan in the EU, Canada, Australia, the United Kingdom, and Switzerland; decisions expected in the first half of 2024 Cash and cash equivalents of $765 million as of March 31, 2023; expected cash runway into Q1 2025 WALTHAM, Mass., May 04, 2023 (GLOBE NEWSWIRE) -- Apellis Pharmaceuticals, Inc. (Nasdaq: APLS), a global biopharmaceutical company and leader in complement, today announced its first quarter 2023 financial results and business highlights. “2023 is off to a very strong start. We received FDA approval of SYFOVRE in geographic atrophy in February and are encouraged by the early momentum we are seeing in the launch. The team is proud to be able to bring SYFOVRE to people suffering with GA who, until now, did not have a treatment option,” said Cedric Francois, M.D., Ph.D., co-founder and chief executive officer of Apellis. “Additionally, our position in the PNH market continues to expand, and we are making steady progress advancing a robust clinical pipeline, which encompasses multiple late-stage, rare disease programs as well as several programs heading into the clinic. This broad portfolio gives us a position of strength as we strive to achieve our vision of being the global leader in complement.” Adam Townsend, chief commercial officer of Apellis, added, “I am thrilled with the initial enthusiasm that physicians and patients are showing for SYFOVRE in these early days of launch. We have built best-in-class commercial and medical teams with extensive experience in retina who went into the SYFOVRE launch well prepared and highly energized. With over 6,000 commercial vials shipped to physicians in March alone, the trajectory looks very promising.” First Quarter 2023 Business Highlights and Upcoming Milestones Ophthalmology Highlights SYFOVRE for the treatment of GA secondary to AMD: Apellis reported $18.4 million in SYFOVRE U.S. net product revenue for the first quarter of 2023.On February 17, 2023, the U.S. Food and Drug Administration (FDA) approved SYFOVRE for the treatment ...