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Apellis Pharmaceuticals Inc
NASDAQ:APLS

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Apellis Pharmaceuticals Inc
NASDAQ:APLS
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Price: 17.82 USD 3.42%
Market Cap: $2.3B

Apellis Pharmaceuticals Inc
Investor Relations

In the realm of biotechnology, Apellis Pharmaceuticals Inc. has carved out a niche by pioneering therapies that target the complement system, an integral part of the immune response. Founded in 2009, the company quickly honed in on the inhibition of C3, a protein central to the activation of the complement cascade, which can drive various diseases when dysregulated. Through its proprietary platform, Apellis has developed novel therapeutic candidates that aim to modulate the immune system from an entirely fresh angle. The company focuses on addressing serious medical conditions that currently have limited treatment options, such as age-related macular degeneration (AMD) and paroxysmal nocturnal hemoglobinuria (PNH), by employing targeted therapies to reduce inflammation and improve patient outcomes.

Apellis’s business strategy revolves around a model that not only aims to bring innovative treatments to market but also to establish partnerships that broaden the reach of its technology. The company's flagship drug, Empaveli, received FDA approval for PNH in 2021 and underscores its potential to capture larger market segments within rare disease treatment areas. By investing heavily in research and development, Apellis seeks to expand its pipeline while also collaborating with other firms to enhance its capabilities and share the risks and rewards associated with drug development. Revenue is generated primarily through sales of its approved therapies, as well as milestone payments and royalties from partnerships, setting Apellis on a path poised for growth if it continues to advance its clinical programs successfully.

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Feb 24, 2026
AI Summary
Q4 2025

Revenue: Apellis reported Q4 2025 revenue of $200 million and full-year 2025 revenue of $1 billion, which included a onetime $275 million payment from the Sobi royalty repurchase agreement.

SYFOVRE Performance: SYFOVRE net product revenue was $155 million in Q4 and $587 million for full-year 2025, with steady growth in total injections but modestly lower annual revenue due to increased free goods utilization.

EMPAVELI Launch: EMPAVELI reached over 5% market penetration after its first full quarter for C3G and primary IC-MPGN, outpacing other rare nephrology launches and receiving strong physician feedback.

Guidance & Outlook: SYFOVRE is expected to remain a stable revenue stream in 2026, with a modest cadence to growth; EMPAVELI is on track for steady growth toward potential blockbuster status.

Innovation Pipeline: Apellis is advancing pivotal trials for EMPAVELI in new kidney indications and progressing a prefilled syringe and AI-enabled OCT-F for SYFOVRE to support future growth.

Financial Stability: The company ended 2025 with $466 million in cash and expects sufficient resources to fund the business to profitability.

Operating Expenses: Operating expenses were $251 million in Q4, up from $239 million a year ago, and are expected to be modestly higher in 2026 due to investment in pivotal trials.

Key Financials
Total Revenue
$200 million (Q4 2025); $1 billion (full year 2025)
SYFOVRE Net Product Revenue
$155 million (Q4 2025); $587 million (full year 2025)
EMPAVELI Net Product Revenue (U.S.)
$35 million (Q4 2025); $102 million (full year 2025)
SYFOVRE Doses Delivered
102,000 doses (Q4 2025); 89,000 commercial, 13,000 free goods
Gross to Net Adjustment (SYFOVRE)
Just above mid-20% range (Q4 2025)
Operating Expenses
$251 million (Q4 2025)
Cash and Cash Equivalents
$466 million (end of 2025)
EMPAVELI Market Penetration
More than 5% after first full quarter
Earnings Call Recording
Other Earnings Calls

Management

Dr. Cedric Francois M.D., Ph.D.
Co-Founder, President, CEO & Director
No Bio Available
Mr. Alec Machiels J.D., MBA
Co-Founder & Director
No Bio Available
Mr. Timothy E. Sullivan
CFO & Treasurer
No Bio Available
Mr. David O. Watson Esq., J.D.
General Counsel
No Bio Available
Dr. Caroline R. Baumal M.D.
Chief Medical Officer
No Bio Available
Dr. Pascal Deschatelets Ph.D.
Co-Founder & Chief Scientific Officer
No Bio Available
Mr. James G. Chopas CPA
VP, Corporate Controller & Chief Accounting Officer
No Bio Available
Ms. Meredith Kaya
Senior Vice President, Investor Relations & Strategic Finance
No Bio Available
Ms. Karen Lewis
Chief People Officer
No Bio Available
Prof. Peter Hillmen M.D., Ph.D.
Head of Hematology Engagement & Member of PNH Scientific Advisory Board
No Bio Available

Contacts

Address
MASSACHUSETTS
Waltham
100 Fifth Avenue
Contacts
+16179775700.0
apellis.com
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