© Reuters. Apellis Prescription drugs (APLS) inventory simply tumbled. Here is why
Apellis Pharma (APLS) inventory skilled a pointy pre-market decline following information that it anticipates a adverse opinion from a European regulator on Pegcetacoplan at its upcoming assembly.
The inventory fell 14.1% in early commerce.
After receiving a adverse development vote throughout an oral clarification assembly on December 13, Apellis expects the Committee for Medicinal Merchandise for Human Use (CHMP) to undertake a adverse opinion throughout its assembly scheduled for January 22-25, 2024.
Within the occasion of a adverse opinion, Apellis plans to enchantment the result and search re-examination of the opinion, the corporate mentioned.
“We are very disappointed in this outcome and saddened for the millions of GA patients in Europe who have no treatment for this leading cause of blindness,” mentioned Jeffrey Eisele, Ph.D., chief growth officer, Apellis.
“We firmly believe in the strength of the Phase 3 results, and we will continue working closely with the CHMP, the retina community, and patient advocacy groups with the goal of bringing pegcetacoplan to GA patients in Europe.”
