---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-222977"
form_type: "8-K"
ticker: "APLS"
cik: "0001492422"
company_name: "Apellis Pharmaceuticals, Inc."
filed_at: "2023-08-29T23:59:59+00:00"
generated_at: "2026-06-11T02:22:25.958456+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Apellis announces 25% workforce reduction, expects up to $300M cost savings through 2024

## Summary
- Reduce workforce by ~225 employees (~25% of total); substantially complete in Q3 2023.
- Cost savings of up to $300M through 2024, including $70M+ from workforce reduction and up to $230M from external expenses.
- Focus on SYFOVRE U.S. launch and preparation for ex-U.S. launches; reduce EMPAVELI expenses.
- Prioritize retina and CNS research; deprioritize siRNA with systemic pegcetacoplan, APL-1030, APL-2006.
- Expect $9M-$11M cash costs for restructuring; update on cash runway in Q3 2023 earnings.

## SEC filing metadata
- accession: 0001193125-23-222977
- form_type: 8-K
- ticker: APLS
- cik: 0001492422
- company_name: Apellis Pharmaceuticals, Inc.
- filed_at: 2023-08-29T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.05, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1492422/000119312523222977/0001193125-23-222977-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1492422/000119312523222977/d508238d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-222977
- JSON: https://secwatch.observer/filing/0001193125-23-222977.json
- Plain text: https://secwatch.observer/filing/0001193125-23-222977.txt

## Key facts
- Restructurings & Charges
  Apellis Pharmaceuticals, Inc. announced a restructuring with charges of approximately $9 million to $11 million affecting corporate restructuring includes SYFOVRE launch, EMPAVELI reduction, R&D prioritization (approximately 225 employees, or approximately 25% of its current workforce).
  - Type: restructuring
  - Charge: approximately $9 million to $11 million
  - Affected area: corporate restructuring includes SYFOVRE launch, EMPAVELI reduction, R&D prioritization
  - Headcount: approximately 225 employees, or approximately 25% of its current workforce
  source text: in workforce will be substantially completed in the third quarter of 2023. As a result of the reduction in workforce, the Company estimates that it will incur approximately $9 million to $11 million in costs, substantially all of which are cash expenditures. These costs are anticipated to be incurred primarily in the second half of 2023. The estimate of costs
  evidence_url: https://www.sec.gov/Archives/edgar/data/1492422/000119312523222977/0001193125-23-222977-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.