Why Apellis Pharmaceuticals (APLS) Stock Is Soaring Today - Apellis Pharmaceuticals (NASDAQ:APLS)

Rare disease-focused Apellis Pharmaceuticals Inc APLS is reportedly drawing takeover interest from large drugmakers.
The company is in talks with advisers to consider its options amid the interest, Bloomberg reported citing people familiar with the matter.
Apellis may also consider seeking partnerships or licensing agreements for some of its ophthalmology products, the report added. Deliberations are ongoing, and there's no certainty they will lead to a transaction.
In February, the FDA approved Apellis' Syfovre (pegcetacoplan injection) for geographic atrophy (GA) secondary to age-related macular degeneration (AMD), making it the first and only FDA-approved treatment for GA.
Analyst estimates forecast peak revenue of more than $1 billion.
Getting together with another pharmaceutical company would give Apellis access to more resources and infrastructure to market and distribute Syfovre to U.S. patients.
In 2021, the FDA approved Apellis Pharma's Empaveli (pegcetacoplan) for paroxysmal nocturnal hemoglobinuria, a rare blood disorder.
The company commands a market cap of almost $7.3 billion at the time of publication, according to Benzinga Pro.
In 2022, Empaveli generated sales of $65.1 million, with an overall sales of $75.4 million for Apellis.
As of December 31, 2022, Apellis had $551.8 million in cash and cash equivalents.
Price Action: APLS shares are up 16.90% at $77.14 on the last check Monday.

Why Apellis Pharmaceuticals Stock Is Soaring Today