Apellis Pharmaceuticals: Fourth Quarter and Full Year 2024 Financial Results and Business Highlights
Waltham, MA, USA – Apellis Pharmaceuticals, Inc. (Apellis), a clinical-stage biopharmaceutical company focused on the development of novel therapeutic compounds to treat various diseases, recently reported its financial results and business accomplishments for the fourth quarter and full year ended December 31, 2024.
Financial Highlights
For the full year 2024, Apellis reported a net loss of $211.3 million, compared to a net loss of $142.4 million in 2023. Total revenue for 2024 was $9.5 million, an increase from $3.2 million in 2023. Research and development expenses amounted to $212.4 million in 2024, compared to $137.3 million in 2023. General and administrative expenses were $33.7 million in 2024, up from $22.5 million in 2023.
Business Highlights
During the fourth quarter of 2024, Apellis announced the completion of patient enrollment in its pivotal Phase 3 trial (ADAPT-C3 Glomerulonephritis) evaluating the efficacy and safety of pegcetacoplan in treating C3 Glomerulopathy. The company also announced the initiation of its Phase 3 trial (ADAPT-FIT1) investigating pegcetacoplan in the treatment of Factor D inhibitor-treated atypical hemolytic uremic syndrome (aHUS).
Impact on Individuals
The ongoing clinical trials for pegcetacoplan, Apellis’ lead investigational compound, hold significant potential for individuals diagnosed with C3 Glomerulopathy and aHUS. These conditions are rare and often result in kidney damage, leading to chronic kidney disease and potential dialysis or transplantation. If successful, pegcetacoplan could provide a much-needed treatment option for these patients, improving their quality of life and reducing the burden on healthcare systems.
Impact on the World
The results from the ADAPT-C3 Glomerulonephritis and ADAPT-FIT1 trials could have a substantial impact on the global healthcare landscape. With an estimated 20,000-50,000 individuals affected by C3 Glomerulopathy and 2,000-5,000 diagnosed with aHUS each year, the potential market for pegcetacoplan is significant. Successful development and approval of the compound could lead to improved patient outcomes and reduced healthcare costs associated with managing these conditions.
Conclusion
Apellis Pharmaceuticals’ fourth quarter and full year 2024 financial results and business highlights showcase the company’s commitment to advancing the development of pegcetacoplan for the treatment of C3 Glomerulopathy and aHUS. The potential impact on individuals diagnosed with these conditions and the healthcare system as a whole is immense, making the ongoing clinical trials a crucial step forward in the quest for effective treatments. As the trials progress, the world eagerly awaits the results that could change the lives of thousands of patients.
- Apellis Pharmaceuticals reported net loss of $211.3 million for 2024, with total revenue of $9.5 million.
- The company completed patient enrollment in the pivotal Phase 3 trial (ADAPT-C3 Glomerulonephritis) for pegcetacoplan and initiated Phase 3 trial (ADAPT-FIT1) for aHUS.
- Pegcetacoplan holds significant potential for individuals diagnosed with C3 Glomerulopathy and aHUS, reducing the burden on healthcare systems and improving patient quality of life.
- Successful development and approval of pegcetacoplan could impact the global healthcare landscape, with an estimated 20,000-50,000 individuals affected by C3 Glomerulopathy and 2,000-5,000 diagnosed with aHUS each year.
