Apellis Pharmaceuticals, Inc. · NASDAQ:APLS
Apellis Pharmaceuticals — Q2 2025 Earnings Presentation
17 slides from Apellis Pharmaceuticals's earnings presentation, Jul 31, 2025
Slide 1: Second Quarter 2025 Financial Results Conference Call
Second Quarter 2025 Financial Results Conference Call July 31, 2025
Slide 2: Forward-looking statements
Forward-looking statements Statements in this presentation about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act o
Slide 3: Call Participants
Call Participants CEDRIC FRANCOIS, M.D., Ph.D. Co-Founder, President & Chief Executive Officer T I M O T H Y S U L L I VA N Chief Financial Officer CAROLINE BAUMAL, M.D. Chief Medical Officer DAVID ACHESON Executive Vice President of Commercial 3
Slide 4: Now Approved: EMPAVELI for C3G and primary IC-MPGN
For the first time, patients with C3G and primary IC-MPGN can be treated with a C3-targeting therapy NOW APPROVED EMPAVELI® is indicated for the treatment of adult and pediatric patients aged 12 years and older with C3G or primary IC-MPGN, to reduce proteinuria. 4
Slide 5: Apellis is the leader in C3-targeting therapies, with approved products in four indications
Apellis is the leader in C3-targeting therapies, with approved products in four indications and a maturing pipeline ✓ 2Q 2025 revenue of ~$151M in GA ✓ Received U.S. FDA approval in C3G and primary IC-MPGN ✓ 6% QoQ injection growth ▪ Broad label addresses several ✓ 55% of new patient starts in 2Q 20
Slide 6: SYFOVRE total injections continue to increase QoQ
SYFOVRE® total injections continue to increase QoQ SYFOVRE Total Injection Volume 1,2 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 Trade Free Goods 1. Apellis data on file, excludes clinical trial injections. 2. This is an estimate derived and extrapolated from available ECP injection demand data
Slide 7: EMPAVELI continues to elevate the standard of care in PNH
EMPAVELI continues to elevate the standard of care in PNH As of June 30, 2025: • ~$21 million in 2Q 2025 U.S. net product revenue • ~97% patient compliance rate • Continued strong safety profile with zero meningococcal infections due to encapsulated bacteria 7
Slide 8: Up to $300 million in non-dilutive capital from capped royalty purchase agreement
Up to $300 million in non-dilutive capital from capped royalty purchase agreement for ex-U.S. royalties of Aspaveli® Received $275 million upfront in exchange for 90% of future ex-U.S. royalties for Aspaveli Up to $25 million in milestones upon EMA approval of Aspaveli for C3G and primary IC-MPGN De
Slide 9: Consolidated 2Q 2025 financial results
Consolidated 2Q 2025 financial results (In USD Millions) Three Months Ended June 30, 2025 2024 EMPAVELI U.S. Net Product Sales $20.8 $24.5 SYFOVRE U.S. Net Product Sales $150.6 $154.6 Licensing and Other Revenue $7.1 $20.5 Total Revenue $178.5 $199.7 Cost of Sales $13.6 $23.1 Expenses R&D Expenses $
Slide 10: Maximizing the potential of EMPAVELI by expanding into new rare, kidney indications
Maximizing the potential of EMPAVELI by expanding into new rare, kidney indications DELAYED GRAFT FUNCTION (DGF) PRIMARY FOCAL SEGMENTAL GLOMERULOSCLEROSIS (FSGS) ~13,000 patients in the U.S. have primary DGF occurs in approximately 30-35% of FSGS1 and ~50% of patients progress to deceased donor kid
Slide 11: Phase 1 APL-3007 data and SYFOVRE + APL-3007 trial
Initiated Phase 2 trial for SYFOVRE + A P L - 3 0 0 7 to evaluate safety, biologic activity, and pharmacodynamics of combo treatment APL-3007 (siRNA) Phase 1 study in healthy volunteers Mean change from baseline in C3 • Next- generation treatment aimed Mean (±SE) % Change from Baseline in 0 at compr
Slide 12: EMPAVELI's broad label addresses significantly underserved patient populations
EMPAVELI's broad label addresses significantly underserved patient populations First and only FDA-approved treatment for adult and pediatric (12+ years) patients with primary IC-MPGN Only FDA-approved treatment for pediatric (12+ years) C3G patients Only FDA-approved treatment for post-transplant C3
Slide 13: 5,000 C3G and primary IC-MPGN patients in the U.S.
5,000 C3G and primary IC-MPGN patients in the U.S. EMPAVELI is on the path to blockbuster status ~5K C3G / Primary IC-MPGN IC-MPGN patients estimated in U.S. 1 Post-Transplant / Pediatric C3G Competitor label Adult C3G, native kidney 1. 2024 claims data analysis (patients with confirmed diagnosis).
Slide 14: Maximizing the potential of EMPAVELI in C3G and Primary IC-MPGN
Maximizing the potential of EMPAVELI in C3G and Primary IC- MPGN Highly Experienced Raise awareness about the availability of a disease-modifying therapy Commercial Team • With EMPAVELI now approved, the underlying cause of disease can be directly targeted through C3 inhibition Establish EMPAVELI as
Slide 15: Initiatives to drive SYFOVRE demand and new patient starts
Initiatives to drive SYFOVRE demand and new patient starts Connect with Highlight patients importance through DTC of early intervention and campaign keeping patients on treatment Broaden Educate ECPs reach On best practices for to eyecare managing community reimbursement 15
Slide 16: SYFOVRE's market leadership is driven by its differentiated clinical profile
SYFOVRE’s market leadership is driven by its differentiated clinical profile Consistently demonstrated robust and increasing effects over time Approved for as few as 6 doses per year In a preferred position with many payers Data at ASRS uniquely demonstrates ability to preserve retina tissue through
Slide 17: Second Quarter 2025 Financial Results Conference Call
Second Quarter 2025 Financial Results Conference Call July 31, 2025
Apellis Pharmaceuticals — Q2 2025 Earnings Presentation on 6ix