Apellis Pharmaceuticals ( (APLS) ) has released its Q4 earnings. Here is a breakdown of the information Apellis Pharmaceuticals presented to its investors.
Apellis Pharmaceuticals, Inc. is a biopharmaceutical company focused on developing therapies for diseases through complement system modulation, with notable products like SYFOVRE and EMPAVELI targeting serious conditions such as geographic atrophy and paroxysmal nocturnal hemoglobinuria.
In its latest financial report, Apellis Pharmaceuticals announced a remarkable 97% year-over-year revenue growth for 2024, reaching $781.4 million. The company highlighted significant achievements, including the strong performance of SYFOVRE and EMPAVELI, and the submission of a supplemental new drug application for EMPAVELI, potentially expanding its use in treating rare kidney diseases.
Key financial metrics revealed that SYFOVRE generated $611.9 million in net product revenue for the year, while EMPAVELI contributed $98.1 million. The company also reported a reduction in net loss to $197.9 million for 2024, compared to $528.6 million in 2023, and ended the year with $411.3 million in cash and cash equivalents. Apellis is on track to initiate new Phase 3 trials for EMPAVELI in 2025, aiming to address unmet needs in rare diseases.
Looking ahead, Apellis Pharmaceuticals is optimistic about its growth trajectory, with management expressing confidence in achieving profitability through its robust pipeline and strategic initiatives. The company anticipates its cash reserves and projected revenues will support its operations to profitability, positioning it well for future advancements.