Apellis jumps after favorable long-term data from eye disorder drug studies

Hanall Biopharma

16/03/2022 13:36

** Shares of biopharma co  APLS.O  rise as much as 5.4% to
$42.22 in early trade - on track for its second straight session
of gains this week 
    ** Co reports long-term data from two late-stage studies
testing its drug pegcetacoplan as a potential treatment for
geographic atrophy (GA) 
    ** GA is last stage of dry age-related macular degeneration,
one of the leading causes of blindness globally; there are
currently no FDA-approved treatments for GA 
    ** APLS says pegcetacoplan reduced disease-related growth of
abnormal structures called lesions in both studies 
    ** Co adds drug, administered monthly and every alternate
month, continued to show favorable safety profile in both trials
at month 18 
    ** "Combined 18-month data show drug's potential for
improving treatment effects over time," says co 
    ** APLS plans to include long-term data from two studies in
pegcetacoplan new drug application planned in Q2 
    ** Up to Tuesday's close, stock down 15.3% YTD 

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))