Apellis reports FY24 preliminary U.S. product revenues $709M

Pharmaceuticals announced preliminary U.S. net product revenues for the fourth quarter and the full year 2024 for SYFOVRE. $611 million in SYFOVRE U.S. net product revenues, including $167 million in 4Q 2024; $98 million in EMPAVELI(R) U.S. net product revenues, including $23 million in 4Q 2024; Expects submission of EMPAVELI sNDA for C3G and primary IC-MPGN in early 2025; U.S. launch anticipated in 2H 2025, if approved; Plans initiation of Phase 3 studies of pegcetacoplan in two additional nephrology indications in 2H 2025; Adam Townsend, chief operating officer, to depart Apellis (APLS) in February; David Acheson named executive vice president of commercial; Maintained strong financial position with year-end cash of approximately $410 million; projected revenues and cash expected to be sufficient to fund operations to profitability