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APLS

Apellis Pharmaceuticals NasdaqGS:APLS Stock Report

Last Price

US$61.04

Market Cap

US$6.7b

7D

2.9%

1Y

84.9%

Updated

03 Oct, 2022

Data

Company Financials +
APLS fundamental analysis
Snowflake Score
Valuation3/6
Future Growth5/6
Past Performance0/6
Financial Health4/6
Dividends0/6

APLS Stock Overview

Apellis Pharmaceuticals, Inc., a commercial-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic compounds through the inhibition of the complement system for autoimmune and inflammatory diseases.

Apellis Pharmaceuticals, Inc. Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Apellis Pharmaceuticals
Historical stock prices
Current Share PriceUS$61.04
52 Week HighUS$70.00
52 Week LowUS$30.17
Beta1.51
1 Month Change-2.63%
3 Month Change27.14%
1 Year Change84.91%
3 Year Change152.44%
5 Year Changen/a
Change since IPO335.07%

Recent News & Updates

Sep 28

Apellis Pharmaceuticals: Trying To Develop A Blockbuster Franchise

Summary Today we take our first look at Apellis Pharmaceuticals, a midcap concern with an advancing pipeline. Its flagship product was rolled out last year, is pursuing other indications, and could eventually achieve blockbuster status. However, some insiders are selling and quarterly cash burn is concerning.  An investment analysis follows in the paragraphs below. It is easy to be solemn, it is so hard to be frivolous.”― G K Chesterton Today, we put the spotlight on Apellis Pharmaceuticals, Inc. (APLS) for the first time. The company launched its flagship product Empaveli in 2021 and is currently pursuing other indications. The drug has the potential to be a blockbuster, but Apellis currently is bleeding cash while developing its pipeline. The stock has stood up well during the market turmoil over the past six weeks. Further gains ahead? An analysis follows below. Seeking Alpha Company Overview: Apellis Pharmaceuticals, Inc. is based just outside of Boston. The company is focused on the discovery and commercialization of therapeutic compounds through the inhibition of the complement system for autoimmune and inflammatory diseases. The stock currently trades just north of sixty bucks a share and sports an approximate market capitalization of $6.5 billion. The company has one product on the market. That is Empaveli (pegcetacoplan) which was approved for the treatment of adults with paroxysmal nocturnal hemoglobinuria (‘PNH’) in spring of last year. PNH is a rare and acquired disorder that leads to the premature death and impaired production of blood cells. PNH affects red blood cells, which carry oxygen; white blood cells, which protect the body from infection; and platelets, which are involved in blood clotting. Empaveli is complement inhibitor. Empaveli targets an immune system protein called complement protein C3. Empaveli works by stopping the immune system from destroying red blood cells and is usually administered via IV twice a week. Empaveli was approved with a broad label and priced at over $450,000 per patient per year. This is actually a decent discount to Soliris which is approved for the same indication as well as recently approved Ultomiris, both from Alexion Pharmaceuticals (ALXN) which was purchased by AstraZeneca (AZN) late in 2020. The company's partner Sobi launched Empaveli in Europe earlier this year where it known under the brand name Aspaveli. Second Quarter Results: On August 8th, the company posted second quarter numbers. Apellis lost $1.46 a share on a GAAP basis as revenues came in around $16.5 million for the quarter versus next to nothing in the same period year ago before the full launch of Empaveli. Product sales from Empaveli accounted for $15.7 million of overall revenue in the quarter. Both top and bottom line results were slightly below expectations. August Company Presentation During the quarter, approximately 30 start forms for Empaveli were generated, bringing the total number of start forms since launch to approximately 190. Most of these C5 inhibitor patient switches continue to come from Ultomiris. Management plans on further positioning Empaveli as first line treatment for all patients with PNH. Based on Phase 3 Pegasus data, the company should get additional FDA approval to strengthen the promotion of Empaveli, for treatment naive patients in late February of next year. The company is at the start of its buildout of its franchise drug. The company filed an NDA for intravitreal pegcetacoplan to treat geographic atrophy or GA secondary to age-related macular degeneration earlier this year. On September 7th, the FDA stated this marketing application did not need to go through an Adcomm Panel and its priority review should be finished near the end of November. Data from Phase 3 studies DERBY and OAKS will support this application, the latest results from these trials were posted late in August. The company plans to file a marketing application for this indication in Europe by the end of 2022. August Company Presentation GA causes impaired visual function and affects more than 5 million people worldwide, including 22% of people over 90 years old. There are no currently approved treatments for GA. However, IVERIC bio (ISEE) is likely to file a new drug application for Zimura in the first quarter of next year based on recent trial results. NGM Biopharmaceuticals (NGM) is also a potential competitor in this space. August Company Presentation Approval for PNH was the first step in developing Empaveli into a potential blockbuster franchise. Pegcetacoplan has Orphan Drug Status in immune complex membranoproliferative glomera nephritis or IC-MPGN. A phase 3 study for this indication kicked off this spring. A Phase 2 study evaluating pegcetacoplan to treat hematopoietic stem cell transplant-associated thrombotic microangiopathy or HSCT-TMA hemato stem cell transplant associated thrombotic micro angiopathy or HS CT TMA is currently enrolling patients. Finally, the company remains on track to report the top line results from their potential registrational Phase 2 study for pegcetacoplan to treat ALS in mid 2023. Company Website The company has some other much earlier stage compounds in development, but they are not germane to this analysis. Analyst Commentary & Balance Sheet: The analyst firm community is generally positive around the company's prospects. Since second quarter earnings were posted, 11 analyst firms including JPMorgan and Citigroup have reiterated Buy or Outperform ratings on the stock. A couple of these had slight upward price target revisions. Price targets proffered range from $70 to $112 a share. Both Credit Suisse ($52) and Wedbush ($67 price target) have maintained Hold ratings while Roth Capital ($40 price target) has reissued a Sell rating on the stock.

Sep 07

Apellis gains as FDA says AdCom unnecessary for eye disease candidate

The commercial-stage biotech Apellis Pharmaceuticals (NASDAQ:APLS) added ~10% Wednesday amid comments attributed to its Chief Executive, who said that FDA would not conduct an AdCom meeting to decide on the marketing application for its lead asset pegcetacoplan. The New Drug Application (NDA) for the intravitreal medication is currently under the FDA’s priority review as a treatment for geographic atrophy (GA) secondary to age-related macular degeneration (AMD) with a target action date on Nov. 26. At the Citi BioPharma Conference, APLS CEO Cedric Francois noted that the company concluded an FDA mid-cycle review for GA, during which the agency reiterated its plans not to hold an Advisory Committee meeting to decide on the NDA. Other biotechs with candidates targeted at GA include NGM Biopharmaceuticals (NGM) and Iveric bio (ISEE), which shared Phase 3 data for its GA therapy Zimura on Tuesday.

Shareholder Returns

APLSUS BiotechsUS Market
7D2.9%3.9%1.0%
1Y84.9%-22.7%-20.0%

Return vs Industry: APLS exceeded the US Biotechs industry which returned -25.6% over the past year.

Return vs Market: APLS exceeded the US Market which returned -23.2% over the past year.

Price Volatility

Is APLS's price volatile compared to industry and market?
APLS volatility
APLS Average Weekly Movement9.1%
Biotechs Industry Average Movement11.1%
Market Average Movement6.8%
10% most volatile stocks in US Market15.5%
10% least volatile stocks in US Market2.8%

Stable Share Price: APLS is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: APLS's weekly volatility (9%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2009476Cedric Francoishttps://www.apellis.com

Apellis Pharmaceuticals, Inc., a commercial-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic compounds through the inhibition of the complement system for autoimmune and inflammatory diseases. The company’s lead product candidate is pegcetacoplan that is in Phase III clinical trials for the treatment of geographic atrophy (GA) in age-related macular degeneration and paroxysmal nocturnal hemoglobinuria (PNH) diseases. It also develops EMPAVELI (systemic pegcetacoplan) for the treatment of cold agglutinin disease (CAD), and hematopoietic stem cell transplantation-associated thrombotic microangiopathy (HSCT-TMA) in hematology; C3 glomerulopathy (C3G), and immune complex membranoproliferative glomerulonephritis (IC-MPGN) in nephrology; and amyotrophic lateral sclerosis (ALS) in neurology.

Apellis Pharmaceuticals, Inc. Fundamentals Summary

How do Apellis Pharmaceuticals's earnings and revenue compare to its market cap?
APLS fundamental statistics
Market CapUS$6.71b
Earnings (TTM)-US$638.42m
Revenue (TTM)US$96.64m

69.4x

P/S Ratio

-10.5x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
APLS income statement (TTM)
RevenueUS$96.64m
Cost of RevenueUS$334.46m
Gross Profit-US$237.82m
Other ExpensesUS$400.60m
Earnings-US$638.42m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-5.81
Gross Margin-246.08%
Net Profit Margin-660.59%
Debt/Equity Ratio56.6%

How did APLS perform over the long term?

See historical performance and comparison