Business
Apellis Pharmaceuticals Reports First Quarter 2025 Financial Results
Generated $166.8 million in 1Q 2025 revenues, including $149.9 million in U.S. net product salesSYFOVRE® (pegcetacoplan injection) injection demand grew 4%
About this update from Apellis Pharmaceuticals, Inc.
[{"type":"text","content":"Generated $166.8 million in 1Q 2025 revenues, including $149.9 million in U.S. net product salesSYFOVRE® (pegcetacoplan injection) injection demand grew 4% quarter-over-quarter, with U.S. net product revenue of $130.2 million Increase in demand offset by inventory dynamics and funding shortages at co-pay assistance programs Received U.S. FDA filing acceptance of supplemental new drug application (sNDA) with Priority Review designation for EMPAVELI for treatment of C3G and primary IC-MPGNOn track to initiate two pivotal trials of EMPAVELI in focal segmental glomerulosclerosis (FSGS) and in delayed graft function (DGF) in 2H 2025Cash and cash equivalents of $358.4 million as of March 31, 2025; projected revenues and cash expected to be sufficient to fund operations to profitability Management to host conference call today at 8:30 a.m. ET WALTHAM, Mass., May 07, 2025 (GLOBE NEWSWIRE) -- Apellis Pharmaceuticals, Inc. (Nasdaq: APLS), today announced its first quarter 2025 financial results and business highlights. “In the first quarter, we were pleased to see continued growth in SYFOVRE injection demand—a key indicator of long-term market strength—and an increase in share of new patient starts, already reaching 55% in April. However, revenue was impacted by funding shortages at third-party co-pay assistance programs and a larger-than-expected drawdown of total channel inventory, including physician offices,” said Cedric Francois, M.D., Ph.D., chief executive officer at Apellis. “We also made meaningful progress toward a potential FDA approval of EMPAVELI in C3G and IC-MPGN, with a decision in these new indications expected in July. As we grow our commercial business and advance our innovative pipeline, Apellis is on a clear path to becoming a profitable, well-established biotechnology company.” First Quarter 2025 Business Highlights and Upcoming Milestones Transforming the treatment of geographic atrophy (GA) SYFOVRE: Generated $130.2 million in SYFOVRE U.S. net product revenue in the first quarter of 2025. Revenue impacted by inventory and funding shortage at co-pay assistance programsQoQ total injection growth of 4%Delivered approximately 92,000 SYFOVRE doses to physician offices, including ~82,000 commercial doses and ~10,000 samples.Market leader in GA with more than 60% share of the overall marketShare of new patient starts cont...