Apellis cuts quarter of staff amid focus on eye drug

30 August 2023

US biopharma Apellis (Nasdaq: APLS) has announced a company restructuring in a bid to focus on making Syfovre (pegcetacoplan injection) a leading treatment for geographic atrophy (GA).

Apellis says that the restructuring will result in up to $300 million in total cost savings through 2024.

Cedric Francois, co-founder and chief executive of Apellis, said, “We are taking important actions to strengthen our ability to invest in growth opportunities and support the company's long-term success, including maximizing the significant opportunity with Syfovre.

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