Apellis falls after concerns over eye disease drug approval in EU

Apellis Pharmaceuticals

14/12/2023 12:35

** Shares of Apellis Pharmaceuticals  APLS.O  fall 14% to
$54 premarket 
    ** Co says the European drug regulator's advisory panel may
adopt a negative opinion for its experimental drug to treat a
type of chronic eye disease 
    ** Says co was informed that the panel may vote against the
drug at the next meeting scheduled on Jan. 22-25
    ** APLS says it plans to appeal the outcome and seek
re-examination of the opinion, in case of a negative vote
    ** The injectable drug, pegcetacoplan, is being reviewed to
treat geographic atrophy (GA)
    ** GA is a progressive and irreversible disease caused by
the growth of lesions, which destroy the retinal cells
responsible for vision 
    ** Up to last close, stock up ~22% YTD 

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))