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
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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.
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