Waltham, MA - James George Chopas, Vice President and Chief Accounting Officer of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS), recently sold 783 shares of the company's common stock. The shares were sold at an average price of $28.7021 each, amounting to a total transaction value of $22,473. The transaction comes as the $3.47 billion market cap company's stock has experienced a significant 17% decline over the past week. According to InvestingPro analysis, the stock currently appears undervalued relative to its Fair Value.
According to the filing, the transaction was conducted on January 13, 2025, and the shares were sold to cover tax withholding on Restricted Stock Units that were released earlier in the month. Following this transaction, Chopas holds 37,358 shares of Apellis Pharmaceuticals. InvestingPro data shows the company maintains a FAIR financial health score, with several additional insights available through the platform's comprehensive Pro Research Report, which provides deep-dive analysis of 1,400+ US stocks.
In other recent news, Apellis Pharmaceuticals reported significant growth with full-year 2024 U.S. net product revenues of approximately $709 million, a 162% increase over the last twelve months. The company's lead products, SYFOVRE® and EMPAVELI®, generated $611 million and $98 million in net revenues respectively. Analysts expect further sales growth according to InvestingPro data.
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, with a U.S. launch anticipated in the second half of 2025. The company also plans to initiate Phase 3 studies for pegcetacoplan in two other nephrology indications in the latter half of 2025.
The company announced organizational changes, including the departure of Chief Operating Officer Adam Townsend in February, who will be succeeded by David Acheson as Executive Vice President of Commercial. A Phase 1b/2 multi-dose study of APL-3007 (siRNA) + SYFOVRE® is expected to commence in the second quarter of 2025.
Several analyst firms including Jefferies, Morgan Stanley (NYSE:MS), and Goldman Sachs have provided their insights on Apellis. Despite some competition in the market, 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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