Apellis Pharmaceuticals, Inc.
Description
Apellis Pharmaceuticals, Inc., a commercial-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic compounds through the inhibition of the complement system for autoimmune and inflammatory diseases. It offers EMPAVELI for the treatment of paroxysmal nocturnal hemoglobinuria, C3 glomerulopathy and immune complex membranoproliferative glomerulonephritis, and hematopoietic stem cell transplantation-associated thrombotic microangiopathy; and SYFOVRE for treating geographic atrophy secondary to age-related macular degeneration and geographic atrophy (GA). The company also develops APL-3007, a small interfering RNA, or siRNA, which is in a Phase 1 clinical trial, as well as an oral complement inhibitor that is in preclinical development. It has a collaboration and license agreement with Swedish Orphan Biovitrum AB (publ) for development and commercialization of pegcetacoplan; and a collaboration with Beam Therapeutics Inc. focused on the use of Beam's base editing technology to discover new treatments for complement-driven diseases. The company was incorporated in 2009 and is based in Waltham, Massachusetts.
About
CEO
Dr. Cedric Francois M.D., Ph.D.
Employees
702
Instrument type
Common Stock
Sector
Healthcare
Industry
Biotechnology
MIC code
XNGS
Address
100 Fifth Avenue, Waltham, MA 02451, United States
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Summary
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Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Nov 3, 2025 | — | — | — | — |
| Jul 30, 2025 | — | — | — | — |
| May 5, 2025 | — | — | — | — |
| Feb 25, 2025 | -0.37 | — | — | — |
| Nov 5, 2024 | -0.30 | -0.46 | -0.16 | 53.33% |
Earnings estimate
|
Next Quarter
(Mar 2025)
|
Next Year
(Dec 2025)
|
|||
|---|---|---|---|---|
| Number of analysts | — | 6 | — | 12 |
| Average estimate | — | -0.40 | — | -1.03 |
| Low estimate | — | -0.55 | — | -1.75 |
| High estimate | — | -0.26 | — | 0.93 |
| Last year EPS | — | -0.54 | — | -1.71 |
[stock_revenue_estimate]
Growth estimates
Current qtr
44.670%
Next qtr. (Mar 2025)
25.420%
Current year
61.620%
Next year (Dec 2025)
39.460%
Next 5 years (per annum)
—
Past 5 years (per annum)
—
Income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total reported revenue | 396.59M | 75.42M | 66.56M | 250.65M | — |
| Cost of revenue | 58.51M | 5.64M | 5.20M | 25.05M | — |
| Gross profit | 338.08M | 69.79M | 61.36M | 225.60M | — |
| Operating expense | |||||
| Research & development | 354.39M | 387.24M | 420.87M | 299.92M | 220.97M |
| Selling general and admin | 500.82M | 277.16M | 176.77M | 139.40M | 67.05M |
| Other operating expenses | — | — | — | — | — |
| Operating income | -517.12M | -594.61M | -536.28M | -213.73M | -288.02M |
| Non operating interest income | |||||
| Income | 20.93M | 8.91M | 418,000 | 4.16M | 5.11M |
| Expense | 29.58M | 32.63M | 13.24M | 29.94M | 5.29M |
| Other income expense | -727,000 | -33.18M | -196.90M | -103.53M | -16.52M |
| Pretax income | -526.50M | -651.50M | -746.00M | -343.03M | -304.71M |
| Tax provision | 2.13M | 669,000 | 352,000 | 1.85M | — |
| Net income | -528.63M | -652.17M | -746.35M | -344.87M | -304.71M |
| Basic EPS | -4.45 | -6.15 | -8.84 | -4.59 | -4.90 |
| Diluted EPS | -4.45 | -6.15 | -8.84 | -4.59 | -4.90 |
| Basic average shares | 118.68M | 106.11M | 84.42M | 75.16M | 62.23M |
| Diluted average shares | 118.68M | 106.11M | 84.42M | 75.16M | 62.23M |
| EBITDA | -495.21M | -584.50M | -533.01M | -209.20M | -282.49M |
| Net income from continuing op. | -528.63M | -652.17M | -746.35M | -344.87M | -304.71M |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 788.73M | 760.22M | 881.77M | 960.57M | 389.25M |
| Current assets | |||||
| Cash | — | — | — | — | — |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 351.19M | 551.80M | 640.19M | 565.78M | 351.99M |
| Other short term investments | — | — | 60.36M | 311.87M | — |
| Accounts receivable | 206.44M | 7.73M | 10.10M | — | — |
| Other receivables | 18.05M | 21.44M | — | — | — |
| Inventory | 146.36M | 85.71M | 16.29M | — | — |
| Prepaid assets | 38.82M | 36.35M | 24.87M | 11.40M | 19.80M |
| Restricted cash | 1.11M | 1.27M | 1.56M | 1.27M | — |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | 4.35M | 6.51M | 70.68M | 26.88M | 1.31M |
| Non current assets | |||||
| Properties | 21.09M | 24.90M | 26.08M | 24.52M | 15.77M |
| Land and improvements | — | — | — | — | — |
| Machinery furniture equipment | — | — | — | — | — |
| Construction in progress | — | — | — | — | — |
| Leases | — | — | — | — | — |
| Accumulated depreciation | — | — | — | — | — |
| Goodwill | — | — | — | — | — |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | — | — | — | — | — |
| Investments and advances | — | — | — | — | — |
| Other non current assets | 1.31M | 15.80M | 31.64M | 18.86M | 385,000 |
| Total liabilities | 594.21M | 590.35M | 683.10M | 756.01M | 355.02M |
| Current liabilities | |||||
| Accounts payable | 37.52M | 37.34M | 16.91M | 8.48M | 8.36M |
| Accrued expenses | 127.81M | 95.14M | 103.24M | 111.94M | 54.78M |
| Short term debt | 6.44M | 5.63M | 4.12M | 3.69M | 2.61M |
| Deferred revenue | — | — | — | — | — |
| Tax payable | — | — | — | — | — |
| Pensions | — | — | — | — | — |
| Other current liabilities | 75.83M | 29.50M | 7.58M | 4.23M | — |
| Non current liabilities | |||||
| Long term debt | 104.49M | 107.09M | 206.11M | 374.05M | 154.42M |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | — | — | — | — | — |
| Derivative product liabilities | — | — | — | 253.64M | 134.84M |
| Other non current liabilities | 242.13M | 315.65M | 345.15M | — | — |
| Shareholders equity | |||||
| Common stock | 12,000 | 11,000 | 10,000 | 8,000 | 6,000 |
| Retained earnings | -2.84B | -2.31B | -1.66B | -926.35M | -581.47M |
| Other shareholders equity | -3.54M | -875,000 | -2.09M | -117,000 | -154,000 |
| Total shareholders equity | 194.52M | 169.87M | 198.66M | 204.56M | 34.23M |
| Additional paid in capital | 3.04B | 2.48B | 1.86B | 1.13B | 615.85M |
| Treasury stock | — | — | — | — | — |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||
| Net Income | -528.63M | -652.17M | -746.35M | -344.87M | -304.71M | -127.50M | -51.01M | -27.12M | -46.52M | -10.79M | -3.96M |
| Depreciation | 1.70M | 1.49M | 1.49M | 859,000 | 596,000 | — | — | — | — | 6,594 | 6,265 |
| Deferred Taxes | — | — | — | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | 105.95M | 91.09M | 70.67M | 45.38M | 21.14M | 7.73M | 5.42M | 1.08M | 545,701 | 659,154 | 271,841 |
| Other Non-Cash Items | 26.29M | 28.66M | 6.33M | 15.54M | 2.18M | 2.80M | 25,498 | — | 26.49M | — | 271,841 |
| Accounts Receivable | -198.72M | 2.38M | -10.10M | — | — | — | — | — | — | -398,634 | 39,850 |
| Accounts Payable | 170,000 | 18.69M | 10.49M | -54,000 | -1.64M | -978,000 | -51,622 | 69,779 | 1.73M | 397,660 | 219,928 |
| Other Assets & Liabilities | -34.70M | -18.97M | -70.03M | -62.00M | -353,566 | -17.75M | 3.97M | 546,420 | -1.40M | -73,538 | 6,667 |
| Operating Cash Flow | -627.94M | -528.84M | -737.51M | -345.16M | -282.78M | -135.69M | -41.65M | -25.43M | -19.15M | -10.20M | -3.15M |
| Investing Activities | |||||||||||
| Capital Expenditures | -674,000 | -1.52M | -1.10M | -5.42M | -1.69M | — | — | — | — | -19,946 | — |
| Net Intangibles | — | — | — | — | — | — | — | — | — | — | — |
| Net Acquisitions | — | — | — | — | — | — | — | — | — | — | — |
| Purchase of Investments | — | -331.86M | -171.28M | -879.07M | — | — | — | — | — | — | — |
| Sale of Investments | — | 393.28M | 420.00M | 567.50M | — | — | — | — | — | — | — |
| Investing Cash Flow | -674,000 | 59.89M | 247.62M | -316.99M | -1.69M | — | — | — | — | -19,946 | — |
| Financing Activities | |||||||||||
| Long-Term Debt Issuance | — | — | — | 322.87M | 212.91M | — | 26.36M | — | — | — | — |
| Long-Term Debt Payments | — | — | — | — | -28.70M | — | — | — | — | — | -274,550 |
| Other Financing Charges | -66.54M | -40.18M | -5.79M | -23.11M | 91.62M | -18,000 | — | — | -90,868 | — | — |
| Financing Cash Flow | 317.85M | 339.94M | 374.58M | 681.19M | 385.41M | 131.18M | 196.18M | 14.86M | 41.24M | 18.83M | 7.16M |
| Other Cash Details | |||||||||||
| End Cash Position | 352.30M | 553.07M | 641.76M | 567.05M | 351.99M | 176.27M | 175.64M | 24.86M | 36.00M | 13.62M | 4.76M |
| Income Tax Paid | — | 4.92M | 49,000 | — | — | — | — | — | — | — | — |
| Interest Paid | 3.29M | 5.00M | 10.27M | 12.93M | 987,000 | 1.82M | 134,167 | — | — | — | — |
| Free Cash Flow | -595.51M | -515.27M | -564.23M | -165.91M | -212.83M | -131.24M | -46.60M | -26.00M | -18.86M | -9.97M | -3.44M |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|---|---|---|---|
| Vanguard Specialized-Health Care Fund | Oct 31, 2024 | 10,088,600 | 290.35M | 8.11% |
| Vanguard Total Stock Market Index Fund | Sep 30, 2024 | 3,303,692 | 95.08M | 2.66% |
| Vanguard Small-Cap Index Fund | Sep 30, 2024 | 2,589,553 | 74.53M | 2.08% |
| SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF | Nov 30, 2024 | 2,228,732 | 64.14M | 1.79% |
| Vanguard Extended Market Index Fund | Sep 30, 2024 | 1,572,897 | 45.27M | 1.26% |
| Vanguard Small-Cap Growth Index Fund | Sep 30, 2024 | 1,428,712 | 41.12M | 1.15% |
| JPMorgan Mid Cap Growth Fund | Sep 30, 2024 | 1,302,610 | 37.49M | 1.05% |
| Price (T.Rowe) Mid Cap Growth Fund | Sep 30, 2024 | 1,200,000 | 34.54M | 0.96% |
| PGIM Jennison Health Sciences Fd | Nov 30, 2024 | 997,107 | 28.70M | 0.80% |
| Vanguard Explorer Fund, Inc. | Oct 31, 2024 | 986,546 | 28.39M | 0.79% |
Article
Apellis Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
WALTHAM, Mass., Feb. 04, 2025 (GLOBE NEWSWIRE) -- Apellis Pharmaceuticals, Inc. (Nasdaq: APLS) announced today that the company approved the grant of equity awards to three new employees with a grant date of February 3, 2025, as equity inducement awards outside of the company's 2017 Stock Incentive Plan (but under the terms of the 2020 Inducement Stock Incentive Plan) and material to the employees' acceptance of employment with the company. The equity awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4).
Feb 4, 2025
Article
Apellis Receives Approval of SYFOVRE® (pegcetacoplan) in Australia for Geographic Atrophy (GA)
WALTHAM, Mass., Jan. 27, 2025 (GLOBE NEWSWIRE) -- Apellis Pharmaceuticals, Inc. (Nasdaq: APLS) announced today that the Therapeutic Goods Administration (TGA) has approved SYFOVRE® (pegcetacoplan) for the every-other-month treatment of adult patients with geographic atrophy (GA) secondary to age-related macular degeneration (AMD) with an intact fovea and when central vision is threatened by GA lesion growth. SYFOVRE is the first and only approved treatment for GA in Australia.
Jan 27, 2025
Article
Bronstein, Gewirtz & Grossman, LLC Is Investigating Apellis Pharmaceuticals, Inc. (APLS) And Encourages Shareholders to Connect
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Apellis Pharmaceuticals, Inc. ("Apellis" or "the Company") (NASDAQ:APLS). Investors who purchased Apellis securities prior to January 28, 2021, and continue to hold to the present, are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/APLS.
Jan 21, 2025
