Business
Apellis Pharmaceuticals Reports Second Quarter 2024 Financial Results
Generated $199.7 million in 2Q 2024 revenues, including $179.1 million in U.S. net product sales $154.6 million for SYFOVRE® (pegcetacoplan injection) $24.5
About this update from Apellis Pharmaceuticals, Inc.
[{"type":"text","content":"Generated $199.7 million in 2Q 2024 revenues, including $179.1 million in U.S. net product sales $154.6 million for SYFOVRE® (pegcetacoplan injection) $24.5 million for EMPAVELI® (pegcetacoplan) Initiated a re-examination of the marketing authorization application of SYFOVRE with the European Medicines Agency (EMA); expect a final decision in 4Q 2024 Plan to report topline Phase 3 data with systemic pegcetacoplan in C3G / IC-MPGN in August 2024Cash and cash equivalents of $360.1 million as of June 30, 2024; projected revenues and cash expected to be sufficient to fund operations to positive cash flow Management to host conference call today at 8:30 a.m. ET WALTHAM, Mass., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Apellis Pharmaceuticals, Inc. (Nasdaq: APLS), today announced its second quarter 2024 financial results and business highlights. “We have continued to execute well and progress our programs over the past six months. SYFOVRE delivered strong growth and is reaching more people living with geographic atrophy, EMPAVELI continues to elevate the standard of care in PNH, and we are now very well positioned financially to support the business for the long term,” said Cedric Francois, M.D., Ph.D., chief executive officer at Apellis. “We are looking forward to a catalyst-driven second half of this year, as we continue to drive strong commercial execution in the U.S, prepare for the topline readout from our Phase 3 VALIANT trial with systemic pegcetacoplan for C3G and IC-MPGN later this month, and seek a final decision from the European regulatory authorities for SYFOVRE in GA in the fourth quarter.” Second Quarter 2024 Business Highlights and Upcoming Milestones Ophthalmology Highlights SYFOVRE for the treatment of geographic atrophy (GA) secondary to age-related macular degeneration (AMD): Generated $154.6 million in SYFOVRE U.S. net product revenue in the second quarter 2024.SYFOVRE remains the market leader in GA, delivering more than 84,000 SYFOVRE doses to physician practices in the second quarter (over 79,000 commercial vials and approximately 5,000 samples). More than 330,000 SYFOVRE injections are estimated to have been administered through June 2024, including clinical trials.Effective July 1, 2024, two large national pharmacy benefit managers have made SYFOVRE the preferred product on their commercial formularies. Initiated a r...