Apellis Pharmaceuticals Stock Slips Despite Q2 Sales Beat Thanks To Syfovre, Empaveli
Portfolio Pulse from Vandana Singh
Apellis Pharmaceuticals Inc reported Q2 EPS loss of $1.02, beating the consensus of -$1.35. Sales were $95 million, up from $16.3 million a year ago, beating the consensus of $71.72 million. The sales included $22.3 million of the U.S. net product revenue of Empaveli and $67.3 million of the U.S. net product revenue of Syfovre. Despite the positive financial results, the company's stock price fell by more than 10.2%.
July 31, 2023 | 1:45 pm
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NEGATIVE IMPACT
Despite beating Q2 consensus, Apellis Pharmaceuticals' stock price fell by more than 10.2%. The company reported no new safety findings or manufacturing-related issues impacting product quality.
Apellis Pharmaceuticals reported strong Q2 results, beating the consensus. However, the stock price fell, which could be due to market factors or investor sentiment not reflected in the financial results. The company also reported no new safety findings or manufacturing-related issues, which is positive news that could potentially stabilize the stock price in the future.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100