Business
Apellis Pharmaceuticals Reports Third Quarter 2020 Financial Results
Strategic collaboration announced with Sobi for global co-development and exclusive ex-U.S. commercialization rights for systemic pegcetacoplanMarketing
About this update from Apellis Pharmaceuticals, Inc.
[{"type":"text","content":"Strategic collaboration announced with Sobi for global co-development and exclusive ex-U.S. commercialization rights for systemic pegcetacoplanMarketing authorization application (MAA) validated by EMA for pegcetacoplan in PNH. New drug application (NDA) filing decision by FDA expected in the fourth quarter of 2020Late-breaking oral presentation at EURETINA demonstrated that intravitreal pegcetacoplan slowed progression of early disease in patients with geographic atrophy (GA) in post hoc analysis of Phase 2 FILLY studyData in seven patients with bilateral GA showed a 52% decrease in mean lesion growth comparing intravitreal pegcetacoplan-treated eye versus untreated eye at 18 months (p=0.01) in post hoc analysis of Phase 1b studyPromising 48-week Phase 2 DISCOVERY results demonstrated a 73.3% reduction in mean proteinuria in C3G patients treated with pegcetacoplanCash and investments of $728.2 million as of September 30, 2020 along with $250 million upfront and other payments from Sobi support cash runway into the second half of 2022 WALTHAM, Mass., Nov. 02, 2020 (GLOBE NEWSWIRE) -- Apellis Pharmaceuticals, Inc. (Nasdaq: APLS), a global biopharmaceutical company and leader in targeted C3 therapies, today announced its third quarter 2020 financial results and business highlights.\n “This has been another remarkable quarter for Apellis, culminating in our new collaboration with Sobi for global co-development and ex-U.S. commercialization of systemic pegcetacoplan for up to $1.25 billion in payments plus tiered royalties ranging from high teens to high twenties,” said Cedric Francois, M.D., Ph.D., co-founder and chief executive officer of Apellis. “This collaboration allows us to more fully explore the pipeline-in-a-product opportunity of systemic pegcetacoplan while also putting us in a position of financial strength for the Phase 3 readout in geographic atrophy next year, a program for which we retain worldwide rights. “During the quarter, we also announced new data in several diseases including geographic atrophy, C3G, and severe COVID-19, further reinforcing the broad platform potential of our targeted C3 approach. Our team remains focused on delivering groundbreaking therapies for patients with a wide range of serious diseases, beginning with a potential U.S. launch in PNH.” Business Highlights and Upcoming Milestones: System...