The following is a summary of the Apellis Pharmaceuticals, Inc. (APLS) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Apellis Pharmaceuticals reported Q3 2024 revenue of approximately $197 million, with SYFOVRE net revenue being $152 million, which more than doubled from the same period last year.

• EMPAVELI generated $24.6 million in U.S. product revenue, up 3%.

• Net loss was reported at $57.4 million.

• SYFOVRE gross to net adjustments impacted revenue, expecting stabilization going forward.

Business Progress:

• Apellis has seen continued growth in vial demand for SYFOVRE, claiming approximately 65% market share.

• Phase III VALIANT study results for EMPAVELI show potential for it becoming a best-in-class treatment for kidney diseases C3G and IC-MPGN.

• Plans for substantial investment in both R&D and commercial activities to support growth.

• No plans to pursue EU approval for SYFOVRE.

Opportunities:

• EMPAVELI has significant potential in rare kidney diseases, building on strong Phase III results.

• Plans to leverage robust data from SYFOVRE trials and real-world evidence to strengthen market position.

Risks:

• Slow uptake in vial growth due to slower market growth dynamics and decision-making pace of retina specialists.

• Negative CHMP opinion led to the non-pursuit of EU approval for SYFOVRE.

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.