Why Is Apellis Pharmaceuticals Stock Trading Lower Today?
Portfolio Pulse from Vandana Singh
Apellis Pharmaceuticals Inc (NASDAQ:APLS) is trading lower after being informed of a negative trend vote by the CHMP of the EMA on its marketing application for pegcetacoplan for geographic atrophy. The CHMP is expected to adopt a negative opinion at its January 2024 meeting. Apellis plans to appeal if a negative opinion is adopted. The application was based on Phase 3 studies published in The Lancet, showing reduced lesion growth and a good safety profile. Apellis disclosed safety events related to Syfovre in July. APLS shares are down 17.3% at $52.
December 14, 2023 | 2:35 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Apellis Pharmaceuticals' stock is trading lower due to a negative trend vote from the CHMP on its marketing application for pegcetacoplan, with expectations of a negative opinion to be adopted in January 2024.
The negative trend vote from the CHMP is a significant regulatory setback for Apellis, likely leading to investor concern about the future revenue potential of pegcetacoplan. The stock price has already reacted negatively, dropping 17.3%, and the potential for a formal negative opinion could further impact investor sentiment and the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100