Apellis Pharmaceuticals Chief Scientific Officer is selling $120,119 worth of stock to Investing.com
Pascal Deschatelets, Chief Scientific Officer of Apellis Pharmaceuticals, Inc. (NASDAQ: ), a $3.9 billion market cap biopharmaceutical company that currently trades near $31, recently sold 3,948 shares of the company’s stock. According to InvestingPro analysis, the company maintains a GOOD financial health score despite operating at a loss. The transaction, which occurred on January 22, 2025, was executed at a price of approximately $30.43 per share, for a total value of $120,119.
This sale was made to cover the withholding tax obligations related to the restricted stock units that were announced the previous day. Following this transaction, Deschatelets retains ownership of 1,148,542 shares in the company.
In other recent news, Apellis Pharmaceuticals reported a significant increase in its revenue in 2024, reaching approximately $709 million. This impressive growth was largely driven by the company’s flagship products, SYFOVRE® and EMPAVELI®, which generated $611 million and $98 million in net revenue, respectively. In line with these developments, Apellis is preparing to submit a Supplemental New Drug Application (sNDA) for EMPAVELI® for the treatment of rare kidney diseases and plans to initiate Phase 3 studies for pegcetacoplan in two other nephrology indications.
In the domain of analysts, Morgan Stanley (NYSE: ) initiated coverage on Apellis with an Equalweight rating, forecasting more than $600 million in revenue two years after the launch of SYFOVRE®. Meanwhile, Goldman Sachs revised its rating on Apellis from Buy to Neutral, following insights indicating fewer patients to treat geographic atrophy with Apellis’ SYFOVRE. RBC Capital Markets adjusted their target price on Apellis to $26.00 from $24.00 previously, while maintaining a sector perform rating on the company’s stock.
In terms of organizational changes, Apellis announced the departure of chief operating officer Adam Townsend in February, who will be succeeded by David Acheson as executive vice president of commercial. The company also plans to reduce its footprint outside the US by approximately 40 employees. These are among recent developments for Apellis Pharmaceuticals.
This article was generated with the help of AI and reviewed by an editor. See our T&C for more information.
