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Jun 30, 2023
Apellis Q2 2023 Earnings Report
Apellis reported second quarter 2023 financial results, featuring strong SYFOVRE launch and continued momentum in PNH.
Key Takeaways
Apellis Pharmaceuticals reported a total revenue of $95.0 million for Q2 2023, driven by $67.3 million from SYFOVRE and $22.3 million from EMPAVELI. The company's cash and cash equivalents stood at $616.3 million as of June 30, 2023. A comprehensive investigation found no indication of drug product or manufacturing issues contributing to the rare events of retinal vasculitis with SYFOVRE.
Total U.S. net product revenues reached $89.6 million, with SYFOVRE contributing $67.3 million and EMPAVELI $22.3 million.
SYFOVRE demonstrated a reduction of up to 45% in nonsubfoveal GA lesion growth between Months 24-30 in the GALE long-term extension study.
Investigation into rare safety events with SYFOVRE found no indication of drug product or manufacturing issues.
Cash and cash equivalents totaled $616.3 million as of June 30, 2023.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Apellis anticipates its cash balance, combined with cash anticipated to be generated from sales of EMPAVELI and SYFOVRE and Sobi reimbursements, to fund operations into the first quarter of 2025.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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