The following is a summary of the Apellis Pharmaceuticals, Inc. (APLS) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Apellis Pharmaceuticals reported Q3 2024 revenue of approximately $197 million, with SYFOVRE net revenue being $152 million, which more than doubled from the same period last year.

• EMPAVELI generated $24.6 million in U.S. product revenue, up 3%.

• Net loss was reported at $57.4 million.

• SYFOVRE gross to net adjustments impacted revenue, expecting stabilization going forward.

Business Progress:

• Apellis has seen continued growth in vial demand for SYFOVRE, claiming approximately 65% market share.

• Phase III VALIANT study results for EMPAVELI show potential for it becoming a best-in-class treatment for kidney diseases C3G and IC-MPGN.

• Plans for substantial investment in both R&D and commercial activities to support growth.

• No plans to pursue EU approval for SYFOVRE.

Opportunities:

• EMPAVELI has significant potential in rare kidney diseases, building on strong Phase III results.

• Plans to leverage robust data from SYFOVRE trials and real-world evidence to strengthen market position.

Risks:

• Slow uptake in vial growth due to slower market growth dynamics and decision-making pace of retina specialists.

• Negative CHMP opinion led to the non-pursuit of EU approval for SYFOVRE.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.