Pascal Deschatelets, the Chief Scientific Officer of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS), a biopharmaceutical company with a market capitalization of $3.9 billion and currently trading near $31, recently sold 3,948 shares of the company's common stock. According to InvestingPro analysis, the company maintains a GOOD financial health score despite operating at a loss. The transaction, which took place on January 22, 2025, was executed at a price of approximately $30.43 per share, amounting to a total value of $120,119.
This sale was conducted to cover tax withholding obligations related to Restricted Stock Units that were released the previous day. Following this transaction, Deschatelets retains ownership of 1,148,542 shares in the company.
In other recent news, Apellis Pharmaceuticals reported a significant increase in its 2024 revenue, reaching approximately $709 million. This impressive growth was largely driven by the company's lead products, SYFOVRE® and EMPAVELI®, which generated $611 million and $98 million in net revenues respectively. In line with these developments, Apellis is preparing for the submission of a supplemental new drug application (sNDA) for EMPAVELI® for the treatment of rare kidney diseases and plans to initiate Phase 3 studies for pegcetacoplan in two other nephrology indications.
In the analyst realm, Morgan Stanley (NYSE:MS) initiated coverage on Apellis with an Equalweight rating, anticipating over $600 million in revenue two years post-launch of SYFOVRE®. Meanwhile, Goldman Sachs revised its rating for Apellis from Buy to Neutral, following insights indicating a smaller patient pool for the treatment of geographic atrophy with Apellis' SYFOVRE. RBC Capital Markets adjusted its stock price target for Apellis, increasing it to $26.00 from the previous $24.00, while maintaining a Sector Perform rating on the company's shares.
In terms of organizational changes, Apellis announced the departure of Chief Operating Officer Adam Townsend in February, who will be succeeded by David Acheson as Executive Vice President of Commercial. The company also plans to reduce its ex-U.S. footprint by approximately 40 employees. These are among the recent developments for Apellis Pharmaceuticals.
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