Business
Apellis Pharmaceuticals Reports Fourth Quarter and Full Year 2019 Financial Results
Positive Top-line Results Announced from Head-to-Head Phase 3 PEGASUS Trial of Pegcetacoplan (APL-2) Compared to Eculizumab in Patients with Paroxysmal
About this update from Apellis Pharmaceuticals, Inc.
[{"type":"text","content":"Positive Top-line Results Announced from Head-to-Head Phase 3 PEGASUS Trial of Pegcetacoplan (APL-2) Compared to Eculizumab in Patients with Paroxysmal Nocturnal Hemoglobinuria (PNH)Completion of Enrollment in Phase 3 PRINCE Trial in Treatment-Naïve PNH Patients Expected in First Half of 2020 Full Enrollment of Two Phase 3 Trials in Geographic Atrophy Expected in First Half of 2020Cash Position of $352.0 Million as of December 31, 2019. Follow-on Offering in January Raised Additional Gross Proceeds of $404.2 Million; $20.0 Million Milestone Payment also Received in January from SFJ Pharmaceuticals WALTHAM, Mass., Feb. 27, 2020 (GLOBE NEWSWIRE) -- Apellis Pharmaceuticals, Inc. (Nasdaq: APLS), a global biopharmaceutical company pioneering targeted C3 therapies, today announced its fourth quarter and full year 2019 financial results and business highlights.\n “We are thrilled with the progress we made over the past year to advance our pipeline and validate our unique C3-targeted approach. In January, we announced top-line results from the Phase 3 PEGASUS trial, which met its primary endpoint and demonstrated that pegcetacoplan was superior to eculizumab with a statistically significant improvement in hemoglobin levels. We believe that pegcetacoplan has the potential to elevate the standard of care for people with PNH, and these results also strengthened our confidence in the platform potential of pegcetacoplan to treat a wide array of serious, complement-driven diseases,” said Cedric Francois, M.D., Ph.D., co-founder and chief executive officer of Apellis. “We plan to build on this momentum in 2020 by completing enrollment in three separate Phase 3 trials of pegcetacoplan including two in geographic atrophy, a leading cause of blindness that affects approximately five million people worldwide and has no approved treatments. We also plan to meet with regulators in the US and EU in the first half of this year to discuss next steps for regulatory submissions of pegcetacoplan in PNH,” Dr. Francois added. “We are committed to delivering life-changing therapies for people with serious diseases, and 2020 will be focused on executing to make this a reality.” Business Highlights and Upcoming Milestones: Subcutaneous Pegcetacoplan (APL-2) In January 2020, Apellis announced positive results from the Phase 3 head-to-head PEGASUS study evaluati...