Apellis reports Q3 EPS (46c), consensus (30c)

Reports Q3 revenue $196.8M, consensus $200.35M. “The third quarter was marked by continued progress, including growth in SYFOVRE vial demand and the positive Phase 3 VALIANT study results in C3G and IC-MPGN. While SYFOVRE net sales fell short of expectations due to higher gross-to-net adjustments, we remain focused on reaching more geographic atrophy patients and building on our leadership in this market,” said Cedric Francois, M.D., Ph.D., chief executive officer at Apellis (APLS). “With two potentially blockbuster products, a promising pipeline that is emerging and a path to profitability, Apellis is well positioned for future growth. We remain confident in our long-term strategy and the significant opportunities ahead.”