Apellis updates on Syfovre safety issues

Shares in Apellis Pharmaceuticals (Nasdaq: APLS) soared 30.2% to close at $40.04 yesterday after it provided more information regarding the safety of its eye disease product.

The company provided an update on injection kits supplied by Apellis and an update on the rare events of retinal vasculitis reported in real-world treatment with Syfovre (pegcetacoplan injection) for geographic atrophy (GA) secondary to age-related macular degeneration (AMD).

This follows the company’s receipt last month of reports of six events of retinal vasculitis following treatment with Syfovre, which won US Food and Drug (FDA) approval in February this year, when it became the first targeted C3 therapy cleared for GA secondary to AMD. Since then, Astellas Pharma’s (TYO: 4503) Izervay (avacincaptad pegol intravitreal solution) was approved by the FDA earlier this month for the same indication.