Pascal Deschatelets, Chief Scientific Officer at Apellis Pharmaceuticals, Inc. (NASDAQ:APLS), recently sold 2,288 shares of the company's common stock. The transaction, which took place on January 13, 2025, was executed at an average price of $28.7021 per share, totaling approximately $65,670. Following the sale, Deschatelets retains ownership of 1,138,195 shares. According to the filing, the sale was conducted to cover tax withholding on Restricted Stock Units released earlier in the month.The transaction comes as APLS shares have declined about 17% over the past week, trading near $27.69. While the company maintains strong liquidity with a current ratio of 4.36, InvestingPro analysis indicates the stock is currently trading below its Fair Value. For deeper insights into insider trading patterns and comprehensive valuation metrics, investors can access the detailed Pro Research Report, available exclusively on InvestingPro.
In other recent news, Apellis Pharmaceuticals reported 2024 revenues of approximately $709 million, marking a 162% growth over the last twelve months. The firm's leading products, SYFOVRE® and EMPAVELI®, notably contributed to this performance, with revenues of $611 million and $98 million respectively. Analysts from InvestingPro anticipate continued sales growth. Moreover, Apellis is preparing for the submission of a supplemental new drug application (sNDA) for EMPAVELI® for the treatment of rare kidney diseases C3G and primary IC-MPGN.
Furthermore, organizational changes were announced, including the departure of Chief Operating Officer Adam Townsend, succeeded by David Acheson. The company also plans to initiate Phase 3 studies for pegcetacoplan in two other nephrology indications. Analysts from Goldman Sachs revised their rating for Apellis from Buy to Neutral, while Morgan Stanley (NYSE:MS) initiated coverage on Apellis with an Equalweight rating.
Finally, Apellis reported positive Phase III results for EMPAVELI in treating C3 glomerulopathy and immunoglobulin M-associated membranoproliferative glomerulonephritis, with a supplemental New Drug Application (sNDA) submission expected in early 2025. These are the recent developments for Apellis Pharmaceuticals.
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