Apellis Pharmaceuticals, Inc. · NASDAQ:APLS
Apellis Pharmaceuticals — Q3 2025 Earnings Presentation
14 slides from Apellis Pharmaceuticals's earnings presentation, Oct 30, 2025
Slide 1: Third Quarter 2025 Financial Results Conference Call
Third Quarter 2025 Financial Results Conference Call October 30, 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 CED RI C FR ANC OI S, M. D. , Ph . D. Co-Founder, President & Chief Executive Officer D AV I D A C H E S O N Executive Vice President of Commercial CA ROLINE BA UMAL , M.D. Chief Medical Officer T I M O T H Y S U L L I VA N Chief Financial Officer 3
Slide 4: Targeting C3 for comprehensive control of complement
Targeting C3 for comprehensive control of complement CL A SS I CA L LECTIN ALTERN ATIVE PATHWA Y PATHWA Y PATHWA Y C3 is the only target in the complement cascade that addresses all 3 activation pathways C3 that can initiate and drive disease . 1 Controls all downstream effects STOP I NF L A MM AT I
Slide 5: Apellis is the leader in C3-targeting therapies, with two approved products across four indications
Apellis is the leader in C3-targeting therapies, with two approved products across four indications Archer & Brie Carolyn Living with C3G Living with GA ✓ Received U.S. FDA approval in C3G and ✓ 3Q’25 revenue of ~$151 million primary IC-MPGN in July ✓ 4% QoQ injection growth ✓ 152 patient start form
Slide 6: Broad label positions EMPAVELI for high utilization in C3G and primary IC-MPGN
Broad label positions EMPAVELI for high utilization in C3G and primary IC-MPGN EMPAVELI is the only approved product for as much as two-thirds of the overall C3G and IC-MPGN market EMPAVELI® Competitor Label Make 5K big visually Adult patients with C3G ✓ ✓ Adult patients with IC-MPGN ✓ ~5K C3G / I
Slide 7: Early momentum for EMPAVELI C3G/IC-MPGN launch
Early momentum for EMPAVELI C3G/IC-MPGN launch Strong early demand with positive reception from patients and physicians; 152 new start forms in Q3 Meaningful traction among prescriber base; 19/20 top target accounts have ≥1 REMS-certified prescriber Easy-to-use on-body device enables flexible dosing
Slide 8: 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 9: Opportunities to drive SYFOVRE demand and long-term growth of GA market
Opportunities to drive SYFOVRE demand and long-term growth of GA market Grow the GA market through ~1.5M GA patients targeted disease awareness education estimated in U.S.1 Maximize adoption through advancement of GA patients currently in ECP office pre-filled syringe and AI imaging tools Develop ne
Slide 10: 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 Demonstrated ability to preserve visual function and retina tissue through 4
Slide 11: SYFOVRE distribution network overview
SYFOVRE distribution network overview Manufacturer Wholesaler ECP (Apellis) Distributor Office Patient Revenue Doses Total Recognized Delivered1 Injections1,2 (commercial (commercial + free goods) + free goods) ~$151 million ~101K doses delivered 4% QoQ Q3’25 Metrics: 3Q’25 revenue (~86K commercial,
Slide 12: SYFOVRE total injections continue to increase quarter over quarter
SYFOVRE total injections continue to increase quarter over quarter SYFOVRE Total Injection Volume1,2 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 Trade Free Goods 1. Apellis data on file, excludes clinical trial injections. 2. This is an estimate derived and extrapolated from available EC
Slide 13: Consolidated 3Q 2025 financial results
Consolidated 3Q 2025 financial results (In USD Millions) Three Months Ended Sep 30, 2025 2024 EMPAVELI U.S. Net Product Sales $26.8 $24.6 SYFOVRE U.S. Net Product Sales $150.9 $152.0 Licensing and Other Revenue $280.8 $20.3 Total Revenue $458.6 $196.8 Cost of Sales $24.5 $33.6 Expenses R&D Expenses
Slide 14: Third Quarter 2025 Financial Results Conference Call
Third Quarter 2025 Financial Results Conference Call October 30, 2025
Apellis Pharmaceuticals — Q3 2025 Earnings Presentation on 6ix