secwatch.observer — SEC 8-K summary
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Issuer:     Apellis Pharmaceuticals, Inc. (APLS)
CIK:        0001492422
Form:       8-K
Filed at:   2024-02-27T23:59:59+00:00
Accession:  0001193125-24-047073
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Apellis FY2023 revenue $396.6M, SYFOVRE drives 160k+ doses; net loss $528.6M
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- Full year 2023 total revenue $396.6M (vs $75.4M in 2022); SYFOVRE $275.2M, EMPAVELI $91.0M.
- SYFOVRE: over 160,000 commercial and sample doses distributed in 2023; Q4 net revenue $114.3M.
- Net loss $528.6M for 2023 (vs $652.2M in 2022); cash $351.2M as of Dec 31, 2023.
- Entered agreements to unwind ~80% of capped calls on convertible notes due 2026; expects ~$100M proceeds.
- G&A expenses rose to $500.8M in 2023 (vs $277.2M in 2022) on SYFOVRE commercial launch costs.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1492422/000119312524047073/0001193125-24-047073-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1492422/000119312524047073/d796432d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-047073

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