Apellis posts FY 2025 licensing and other revenue of USD 314.4 million, up 340%

Apellis reported FY 2025 total revenue of USD 1.0 billion, including net product revenue of USD 689.4 million (down 3%) and licensing and other revenue of USD 314.4 million (up 340%), driven primarily by a USD 275.0 million upfront payment under a royalty buy-down agreement with Swedish Orphan Biovitrum (Sobi). Net income for FY 2025 was USD 22.4 million, with net operating income of USD 55.4 million. Operating expenses in FY 2025 totaled USD 948.4 million, including cost of sales of USD 102.2 million (down 13%), R&D of USD 295.9 million (down 10%), and SG&A of USD 550.3 million (up 10%); interest expense was USD 44.3 million (up 10%) and interest income was USD 13.1 million (up 3%). By product, FY 2025 U.S. net product revenue was USD 586.9 million for Syfovre and USD 102.4 million for Empaveli. Key updates included initiation of a Phase 2 multi-dose trial in June 2025 combining Syfovre with APL-3007 (siRNA) in geographic atrophy, and the start of two pivotal Empaveli trials in Q4 2025 for primary focal segmental glomerulosclerosis and delayed graft function. The company also said Sobi received EMA approval for Aspaveli in C3G and primary IC-MPGN in January 2026, triggering a USD 25.0 million milestone payment to Apellis in February 2026.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Apellis Pharmaceuticals Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001193125-26-065179), on February 24, 2026, and is solely responsible for the information contained therein.