Mark Jeffrey DeLong, the Chief Business & Strategy Officer at Apellis Pharmaceuticals, Inc. (NASDAQ:APLS), has sold 1,599 shares of the company's common stock. The sale, which took place on January 13, 2025, was executed at an average price of $28.7021 per share, amounting to a total transaction value of $45,894.
This transaction was reportedly conducted to cover tax withholding obligations related to the release of Restricted Stock Units on January 10, 2025. Following the sale, DeLong holds 58,796 shares of Apellis Pharmaceuticals stock directly. The company maintains strong liquidity with a current ratio of 4.36, though InvestingPro data reveals 7 additional key insights about APLS's financial health and growth prospects.
In other recent news, Apellis Pharmaceuticals reported a significant revenue growth in 2024, amounting to approximately $709 million. This growth was driven by the company's lead products, SYFOVRE® and EMPAVELI®, which generated $611 million and $98 million in net revenues respectively. The firm also announced plans to submit a supplemental new drug application for EMPAVELI® for the treatment of rare kidney diseases and initiate Phase 3 studies for pegcetacoplan in other nephrology indications.
Recent changes within the company include the departure of Chief Operating Officer Adam Townsend, succeeded by David Acheson as Executive Vice President of Commercial. Analysts from firms such as Jefferies, RBC Capital Markets, and Morgan Stanley (NYSE:MS) have provided various ratings and revenue forecasts for the company. Goldman Sachs revised its rating for Apellis from Buy to Neutral, citing a smaller patient pool for the treatment of geographic atrophy with Apellis' Syfovre.
Despite potential competitive challenges, Apellis reported positive Phase III results for EMPAVELI in treating C3 glomerulopathy and immunoglobulin M-associated membranoproliferative glomerulonephritis. The company expects to submit a supplemental New Drug Application for this treatment in early 2025. These are some of the recent developments for Apellis Pharmaceuticals.
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