Business
Apellis Pharmaceuticals Reports Second Quarter 2023 Financial Results
Generated total U.S. net product revenues of $89.6 million, including $67.3 million for SYFOVRE® (pegcetacoplan injection) and $22.3 million for EMPAVELI®
About this update from Apellis Pharmaceuticals, Inc.
[{"type":"text","content":"Generated total U.S. net product revenues of $89.6 million, including $67.3 million for SYFOVRE® (pegcetacoplan injection) and $22.3 million for EMPAVELI® (pegcetacoplan)SYFOVRE reduced nonsubfoveal GA lesion growth by up to 45% between Months 24-30 compared to projected sham in the GALE long-term extension studyInvestigation on recently reported rare safety events with real-world use of SYFOVRE has found no indication that drug product or manufacturing issues contributed to events Cash and cash equivalents of $616.3 million as of June 30, 2023; expected cash runway into Q1 2025 WALTHAM, Mass., July 31, 2023 (GLOBE NEWSWIRE) -- Apellis Pharmaceuticals, Inc. (Nasdaq: APLS), a global biopharmaceutical company and leader in complement, today announced its second quarter 2023 financial results and business highlights. “We made important progress in the second quarter, highlighted by strong commercial execution of the SYFOVRE launch, continued momentum in PNH, and the advancement of APL-3007 into a Phase 1 study. With more than 68,000 SYFOVRE vials distributed through July, we continue to work with the retina community to bring the first and only approved treatment for GA to patients,” said Cedric Francois, M.D., Ph.D., co-founder and chief executive officer of Apellis. “Following the rare events of retinal vasculitis with SYFOVRE in the real world, we began conducting a comprehensive investigation into the potential causes of these events and have found no indication of drug product or manufacturing issues. Patient safety is our top priority, and we are continuing our ongoing review with external experts.” “We also continue to strengthen our understanding of the long-term safety and efficacy of SYFOVRE. Results from our GALE extension study showed that SYFOVRE continues to demonstrate increasing effects over time, with a reduction in nonsubfoveal GA lesion growth of up to 45% between months 24 and 30. Additionally, the safety profile continued to be consistent with previously reported clinical data. We are committed to making a difference for people living with GA, PNH, and other serious complement-driven diseases, and I’d like to thank our team for their incredible dedication and for always putting patients first.” Second Quarter 2023 Business Highlights and Upcoming Milestones Ophthalmology Highlights SYFOVRE for the treatment of ...