Loading...
•
Jun 30
Apellis Q2 2025 Earnings Report
Apellis' Q2 2025 earnings report was released, detailing financial results and business highlights, including the FDA approval of EMPAVELI for C3G and primary IC-MPGN, and continued growth in SYFOVRE sales.
Key Takeaways
Apellis Pharmaceuticals reported total revenue of $178.5 million for Q2 2025, driven by strong U.S. net product sales of SYFOVRE ($150.6 million) and EMPAVELI ($20.8 million). The company also announced the FDA approval of EMPAVELI for C3G and primary IC-MPGN, and a capped royalty purchase agreement with Sobi for up to $300 million, which is expected to help fund the business to profitability.
Total revenue for Q2 2025 was $178.5 million, a decrease from $199.7 million in Q2 2024.
SYFOVRE U.S. net product revenue reached $150.6 million, with demand growing 6% quarter-over-quarter.
EMPAVELI received U.S. FDA approval for the treatment of patients 12 years and older with C3G and primary IC-MPGN.
The company secured a capped royalty purchase agreement with Sobi for up to $300 million, enhancing its cash position to $370 million as of June 30, 2025.
Apellis
Apellis
Apellis Revenue by Segment
Apellis Revenue by Geographic Location
Revenue by Segment
SYFOVRE U.S. Net Product Revenue
CapyFin.comEMPAVELI U.S. Net Product Revenue
CapyFin.comLicensing and Other Revenue
CapyFin.comRevenue by Geographic Location
U.S. Net Product Sales Revenue
CapyFin.com Forward Guidance
Apellis anticipates that its current cash, combined with expected product revenues and funds from the Sobi royalty purchase agreement, will be sufficient to fund the business to profitability.
Positive Outlook
- Expected sufficiency of cash resources, product revenues, and Sobi agreement funds to reach profitability.
- On track to initiate pivotal studies for DGF and FSGS in 2H 2025.
- Sobi expects an EMA opinion for Aspaveli's indication extension before year-end 2025.
- Initiated Phase 2 study of APL-3007 + SYFOVRE for next-generation treatment.
- Advancing investigational pre-clinical research for one-time neonatal Fc receptor (FcRn) treatment.
Challenges Ahead
- Uncertainty regarding whether clinical trial results will warrant regulatory submissions.
- Uncertainty regarding market acceptance and clinical utility of approved and future products.
- Potential for actual results to differ materially from forward-looking statements.
- Risk that clinical trials may not be completed as anticipated.
- No specific negative forward guidance points were explicitly stated beyond general risks.