Apellis releases mixed results from Phase III pegcetacoplan
US drug developer Apellis Pharmaceuticals (Nasdaq: APLS) was upbeat about clinical trial results for its pegcetacoplan, but investors thought otherwise, sending the firm’s shares down 32% to $38.00 in after hours on Thursday.
Apellis announced top-line results from the Phase III DERBY and OAKS studies evaluating intravitrealb pegcetacoplan, an investigational targeted C3 therapy, in 1,258 adults with geographic atrophy (GA) secondary to age-related macular degeneration (AMD). GA is a leading cause of blindness that impacts more than five million people globally including one million people in the USA>
Based on results from the studies, the company plans to submit a New Drug Application (NDA) for pegcetacoplan for GA to the US Food and Drug Administration (FDA) in the first half of 2022.
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