Stock Track | Apellis Pharmaceuticals Soars in Pre-Market on Strong Q3 Results

Stock Track11-06

Apellis Pharmaceuticals Inc. (APLS) stock surged 6.32% in pre-market trading on November 6, 2024, following the company's better-than-expected third-quarter financial results and promising updates on its key products.

The biotech firm reported total revenue of $197 million for Q3 2024, a substantial 78.3% year-over-year increase, driven by strong sales of its flagship product Syfovre. Syfovre, designed to treat geographic atrophy (GA), generated $152 million in product revenue, more than doubling from the same period last year.

Analysts also praised Apellis' efforts to expand its market share and drive new patient starts. The company shipped 84,500 commercial vials of Syfovre in Q3, representing a 7% quarter-over-quarter growth. Additionally, Apellis revealed plans to file a supplemental New Drug Application (sNDA) for Syfovre in early 2025, indicating regulatory progress.

While the company reported a net loss of $57.4 million for the quarter, investors seem encouraged by Apellis' strong revenue growth and positive market positioning, leading to the pre-market stock surge.

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(APLS) stock surged 6.32% in pre-market trading on November 6, 2024, following the company's better-than-expected third-quarter financial results and promising updates on ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"APLS","symbol_name":"Apellis Pharmaceuticals Inc.","start_time":0,"source_url":"","article_id":"1105685535","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1105685535","pubTimestamp":1730903518,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Apellis Pharmaceuticals Inc.  stock surged 6.32% in pre-market trading on November 6, 2024, following the company's better-than-expected third-quarter financial results and promising updates on its key products.The biotech firm reported total revenue of $197 million for Q3 2024, a substantial 78.3% year-over-year increase, driven by strong sales of its flagship product Syfovre. 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