Markets remain unimpressed by Apellis as PDUFA date draws near

3 October 2022

Apellis Pharmaceuticals (Nasdaq: APLS) has again failed to impress investors as the company keeps its fingers crossed on a potential approval for pegcetacoplan, an investigational targeted C3 therapy.

After the US biopharma firm’s presentation of new data from the 24-month Phase III OAKS study in geographic atrophy (GA) secondary to age-related macular degeneration, at the American Academy of Ophthalmology Annual Meeting (AAO), its share price was 13% lower at lunchtime Monday.

"These results provide the first direct evidence that slowing GA lesion growth has the potential to preserve visual function"

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