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Dec 31, 2024
Apellis Q4 2024 Earnings Report
Apellis reported strong revenue growth in Q4 2024, driven by increased sales of SYFOVRE and EMPAVELI.
Key Takeaways
Apellis Pharmaceuticals delivered a solid Q4 2024 performance with $212.53 million in revenue, a 45.2% year-over-year increase. The company continued to grow sales of its flagship products, SYFOVRE and EMPAVELI. Despite revenue growth, the company posted a net loss of $36.35 million, improving from a loss of $88.58 million in Q4 2023.
Revenue grew 45.2% YoY to $212.53 million, driven by strong SYFOVRE and EMPAVELI sales.
Net loss improved to $36.35 million from $88.58 million in Q4 2023.
Cost of sales increased to $40.86 million, reflecting higher sales volume.
Apellis ended the quarter with $411.29 million in cash and cash equivalents.
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 strong revenue growth in 2025, driven by the continued adoption of SYFOVRE and upcoming product launches. The company expects to fund its operations to profitability with projected revenues and cash reserves.
Positive Outlook
- Projected revenue growth supported by SYFOVRE and EMPAVELI sales.
- Anticipated U.S. launch of EMPAVELI for C3G and IC-MPGN in 2H 2025.
- Initiation of two Phase 3 trials in FSGS and DGF planned for 2H 2025.
- Approval received in Australia for SYFOVRE every-other-month treatment.
- Management expects cash and revenue to support operations to profitability.
Challenges Ahead
- Ongoing net losses despite revenue growth.
- Higher costs associated with expanding product commercialization.
- Increased cost of sales due to higher production volumes.
- Regulatory risks related to pending approvals for EMPAVELI.
- Potential market competition from emerging treatments in the segment.