secwatch.observer — SEC 8-K summary
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Issuer:     Apellis Pharmaceuticals, Inc. (APLS)
CIK:        0001492422
Form:       8-K
Filed at:   2026-01-12T23:59:59+00:00
Accession:  0001193125-26-010540
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Apellis reports preliminary 2025 U.S. net product revenues of $689M; cash $466M; SYFOVRE injections up 17%
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- Full-year 2025 preliminary U.S. net product revenues: SYFOVRE $587M, EMPAVELI $102M, total $689M.
- SYFOVRE total injection demand grew 17% YoY; ~60% market share in geographic atrophy; prefilled syringe submission planned 1H 2026.
- EMPAVELI C3G/IC-MPGN launch: 267 patient start forms in 2025, >5% market penetration; 95% payer coverage.
- Cash and cash equivalents ~$466M at Dec 31, 2025; company expects to fund operations to profitability.
- Pivotal trials initiated for EMPAVELI in FSGS and DGF; IND for APL-9099 (FcRn) planned 2H 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1492422/000119312526010540/0001193125-26-010540-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1492422/000119312526010540/d19666d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-010540

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