Apellis Pharma falls after launching stock offering

Weds Co

23/03/2022 20:23

**  Apellis Pharmaceuticals Inc  APLS.O  down ~10%
post-market as co looks to raise equity. Shares closed down 2.3%
at $52.85 on Weds
    ** Co after the bell commences $300 mln share offering
 urn:newsml:reuters.com:*:nGNXc55B7R
    ** JP Morgan, Goldman and Evercore jt bookrunners
    ** Stock has surged 32% since co a week ago reported
favorable long-term data from eye disorder drug studies
 urn:newsml:reuters.com:*:nL3N2VJ3BQ
    ** APLS has ~97.7 mln shares outstanding for roughly $5.2
bln market cap, per Refinitiv data, and ~79 mln shares of public
float
    ** Avg analyst rating on APLS is "buy" and median PT is $71
- Refinitiv

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))