Safety report fails to quell concerns over troubled eye med

1 August 2023

Traders looked unfavorably on Apellis Pharmaceuticals (Nasdaq: APLS) stock on Monday, after the company's report into the safety of its newly-approved Syfovre (pegcetacoplan) detailed a small number of retinal vasculitis cases.

Apellis stock dropped by a fifth over the course of the day, as the firm revealed seven people developed the rare complication following injections of the medicine.

The latest drop comes several weeks after initial reports of the possible adverse events came out, causing the company’s market cap to fall precipitously.

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