Apellis Announces Corporate Restructuring to Drive Growth of SYFOVRE (pegcetacoplan injection) and EMPAVELI (pegcetacoplan); To Lead up to $300M in Cost Savings Through 2024 Including 25% Reduction in Current Workforce
Portfolio Pulse from Benzinga Newsdesk
Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) announced a corporate restructuring to drive growth of SYFOVRE and EMPAVELI, which is expected to result in up to $300 million in total cost savings through 2024. The restructuring includes a 25% reduction in the current workforce.
August 29, 2023 | 11:00 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Apellis Pharmaceuticals' restructuring plan, aimed at driving growth and reducing costs, could potentially boost its stock in the short term.
The announced restructuring plan, which includes cost reduction initiatives and a focus on driving growth of key products, is generally seen as a positive move by investors. This could lead to increased investor confidence and a potential rise in the company's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100