Apellis Pharmaceuticals (APLS) shares were up 4% in recent trading Monday after the company reported preliminary full-year 2024 US net product revenue of $709 million for Syfovre and Empaveli.
Analysts polled by FactSet expected 2024 combined sales of $710 million for the two products.
The company said the preliminary figure includes Syfovre sales of about $167 million in Q4 and $611 million in 2024. Analysts surveyed by FactSet were looking for Q4 sales of $157.1 million for the company's product for the treatment of geographic atrophy secondary to age-related macular degeneration, with full-year sales expected to hit $604.9 million.
Apellis reported about $23 million in preliminary Q4 sales for Empaveli, bringing full-year sales of the medicine for adults with paroxysmal nocturnal hemoglobinuria to $98 million. Analysts polled by FactSet expected $26.2 million for Q4 and $105.1 million for the year.
The company said it had roughly $410 million in cash and cash equivalents at the end of 2024, up from $351.2 million a year earlier, which together with projected revenue will be sufficient to fund its operating expenses and capital expenditures to profitability.
Price: 28.56, Change: +1.12, Percent Change: +4.08
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