Core Insights - Apellis is currently leading the field in complement therapies with two approved products, SYFOVRE and EMPAVELI, and has a promising pipeline ahead [2][3] - The company has been successfully launching EMPAVELI for PNH for a couple of years and recently received approval for C3G and IC-MPGN, presenting significant opportunities to impact patient lives [3] Company Overview - Apellis has established itself as a leader in complement therapies, focusing on complement factor C3, which plays a crucial role in controlling downstream effects of the complement cascade [2] - The company is positioned for growth with its innovative products and expanding indications, particularly in the latter part of the year [2][3]

Apellis Pharmaceuticals (APLS) FY 2025 Conference September 03, 2025 08:45 AM ET Company ParticipantsTimothy Sullivan - CFODavid Acheson - EVP & Head - Global CommercialConference Call ParticipantsDerek Archila - MD, Co-Head of Therapeutics Research & Senior Biotechnology AnalystDerek ArchilaAll right, everyone, I think we'll get started with our next session. My name is Derek Archuleta. I'm one of the Senior Biotech Analysts here at Wells Fargo. Very excited to have Apellis Pharmaceuticals with us here for ...

Apellis Pharmaceuticals (APLS) FY 2025 Conference September 03, 2025 08:45 AM ET Speaker0All right, everyone, I think we'll get started with our next session. My name is Derek Archuleta. I'm one of the Senior Biotech Analysts here at Wells Fargo. Very excited to have Apellis Pharmaceuticals with us here for our next fireside discussion. We've got Tim Sullivan, the Chief Financial Officer, as well as David Acheson, the Chief Commercial Officer. Gentlemen, thank you so much for coming and looking forward to t ...

Apellis Pharmaceuticals (APLS) FY 2025 Conference September 03, 2025 08:45 AM ET Speaker0All right, everyone, I think we'll get started with our next session. My name is Derek Archuleta. I'm one of the Senior Biotech Analysts here at Wells Fargo. Very excited to have Apellis Pharmaceuticals with us here for our next fireside discussion. We've got Tim Sullivan, the Chief Financial Officer, as well as David Acheson, the Chief Commercial Officer. Gentlemen, thank you so much for coming and looking forward to t ...

Core Insights - Apellis Pharmaceuticals, Inc. reported a revenue of $178.49 million for the quarter ended June 2025, reflecting a year-over-year decline of 10.6% [1] - The earnings per share (EPS) for the same period was -$0.33, compared to -$0.28 a year ago, with a consensus EPS estimate of -$0.44, resulting in a surprise of +25% [1] Revenue Breakdown - Product revenue, net was $171.39 million, below the 10-analyst average estimate of $176.3 million, representing a year-over-year change of -4.3% [4] - Licensing and other revenue amounted to $7.11 million, significantly lower than the 10-analyst average estimate of $12.89 million, showing a year-over-year decline of 65.4% [4] - Product revenue from EMPAVELI was $20.8 million, compared to the seven-analyst average estimate of $21.74 million, indicating a year-over-year change of -15.1% [4] - Product revenue from SYFOVRE was $150.6 million, slightly below the seven-analyst average estimate of $153.77 million, with a year-over-year change of -2.6% [4] Stock Performance - Shares of Apellis Pharmaceuticals have returned +6.6% over the past month, outperforming the Zacks S&P 500 composite's +2.7% change [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Financial Performance - Apellis reported approximately $151 million in GA (Geographic Atrophy) revenue for 2Q 2025[10] - EMPAVELI U S net product sales were $208 million in 2Q 2025[18] - SYFOVRE U S net product sales were $1506 million in 2Q 2025[18] - The company received $275 million upfront from a royalty purchase agreement for 90% of future ex-U S royalties for Aspaveli[17] - Total revenue for 2Q 2025 was $1785 million, compared to $1997 million in 2Q 2024[18] EMPAVELI and Pipeline - EMPAVELI received U S FDA approval for C3G and primary IC-MPGN[10] - Apellis plans to initiate pivotal studies in DGF (Delayed Graft Function) and FSGS (Focal Segmental Glomerulosclerosis) by year end[10, 21] - APL-3007 reduced circulating C3 concentration by up to 90% in a Phase 1 healthy volunteer study[25] SYFOVRE - SYFOVRE's overall GA market share exceeds 60%[10] - Apellis initiated a Phase 2 study of SYFOVRE + APL-3007[10, 23] Market and Strategy - Approximately 5,000 C3G and primary IC-MPGN patients are estimated in the U S [28, 29] - The company aims to raise awareness about EMPAVELI as a disease-modifying therapy and establish it as the treatment of choice for relevant conditions[33, 34]

Group 1 - Morgan Stanley analyst Judah Frommer raised the target price for Apellis Pharmaceuticals (APLS.US) from $25 to $26 while maintaining a "Hold" rating, based on the company's market position and recent financial strategy [1] - The significant licensing agreement between Apellis and Sobi is strategically important, ensuring Apellis can receive up to $300 million in revenue, including a $275 million upfront payment, while reducing Sobi's royalty obligations on Aspaveli sales by 90% [1] - This agreement provides immediate financial benefits to Apellis and may alleviate investor concerns regarding its profitability [1] Group 2 - Apellis is a commercial-stage biopharmaceutical company focused on discovering, developing, and commercializing innovative therapies for unmet medical needs [2] - The company's core product lines include EMPAVELI, used for treating paroxysmal nocturnal hemoglobinuria (PNH), and SYFOVRE, which treats geographic atrophy (GA) secondary to age-related macular degeneration [2]

Core Insights - Apellis Pharmaceuticals reported a total revenue of $166.8 million for Q1 2025, a decrease from $172.3 million in Q1 2024, primarily due to funding shortages at co-pay assistance programs and inventory dynamics [5][13] - The demand for SYFOVRE injection, a key product, grew by 4% quarter-over-quarter, with U.S. net product revenue of $130.2 million [5][6] - The company is on track for potential FDA approval of EMPAVELI for C3G and IC-MPGN, with a decision expected in July 2025 [2][5] Financial Performance - Total revenue for Q1 2025 was $166.8 million, including $149.9 million from U.S. net product sales of SYFOVRE and $19.7 million from EMPAVELI [5][13] - The net loss for Q1 2025 was $92.2 million, compared to a net loss of $66.4 million in Q1 2024 [12][44] - Cash and cash equivalents stood at $358.4 million as of March 31, 2025, down from $411.3 million at the end of 2024, but projected to be sufficient to fund operations to profitability [12][39] Product Highlights - SYFOVRE is the market leader in geographic atrophy (GA) with over 60% market share and a new patient start share reaching 55% by late April 2025 [6][15] - EMPAVELI generated $19.7 million in U.S. net product revenue in Q1 2025, with a high patient compliance rate of 97% [6][16] - The company plans to initiate pivotal trials for EMPAVELI in focal segmental glomerulosclerosis (FSGS) and delayed graft function (DGF) in the second half of 2025 [5][7] Organizational Updates - Craig Wheeler was appointed to the Board of Directors, bringing over 30 years of leadership experience in the biopharmaceutical industry [9]