Apellis Pharmaceuticals, Inc.

Listed Company

APLSCIK 0001492422NasdaqLarge AcceleratedPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.00B

Net Income

$22.39M

Total Assets

—

Equity

—

Shares Out

128.02M

Op. Cash Flow

$45.33M

Business

Apellis Pharmaceuticals, Inc. is a commercial-stage biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics that inhibit the complement system to treat diseases driven by excessive complement activation. Its main products and programs center on pegcetacoplan, marketed intravitreally as SYFOVRE for geographic atrophy and systemically as EMPAVELI for paroxysmal nocturnal hemoglobinuria, plus next-generation candidates including an siRNA (APL-3007) and gene editing collaborations. The company operates distinct ophthalmology and rare-disease/nephrology/hematology development and commercialization efforts. It primarily commercializes in the United States while partnering with Sobi for ex-U.S. systemic pegcetacoplan and pursuing selective international regulatory expansion and specialty distributor and pharmacy channels.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	1,004	781	397	75	67
Cost of sales	102	118	59	6	200,000
Research and development	296	328	354	387	346
Selling, general and administrative	550	501	501	277	—
Total operating expenses:	948	946	914	670	603
Net operating income/(loss)	55	−165	−517	−595	−536
Loss on extinguishment of development liability	—	−2	—	—	—
Interest income	13	13	21	9	418,000
Interest expense	−44	−40	−30	−33	−13
Other expense, net	−133,000	−2	−727,000	−288,000	1
Net income/(loss) before taxes	24	−197	−526	−652	−746
Income tax expense	2	1	2	669,000	352,000
Net income/(loss)	22	−198	−529	−652	−746
Unrealized gain/(loss) on pension plans	107,000	591,000	−3	—	—
Foreign currency translation	1	−357,000	−49,000	−430,000	−2
Total other comprehensive income/(loss)	1	234,000	−3	1	−2
Comprehensive income/(loss), net of tax	24	−198	−531	−651	−748
Net income/(loss) per common share - basic	0.18	−1.6	−4.45	−6.15	−8.84
Net income/(loss) per common share - diluted	0.2	−1.6	−4.45	−6.15	−8.84
Weighted-average number of common shares used in net income/(loss) per common share - basic	126	124	119	106	84
Weighted-average number of common shares used in net income/(loss) per common share - diluted	130	124	119	106	84

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	466	411	351	552	640
Accounts receivable	366	265	206	8	10
Inventory	143	81	146	86	16
Prepaid and other current assets	38	30	—	—	—
Restricted cash	2	1	1	1	2
Total current assets	1,015	789	766	720	824
Right-of-use assets	18	16	17	19	20
Property and equipment, net	2	3	4	6	6
Long-term inventory	35	76	—	—	—
Other assets	6	1	1	16	32
Total assets	1,075	885	789	760	882
Accounts payable	57	39	38	37	17
Accrued expenses	166	140	128	95	103
Convertible senior notes	94	0	—	—	—
Current portion of lease liabilities	7	7	6	6	4
Total current liabilities	324	186	248	168	132
Long-term credit facility	362	359	—	—	—
Convertible senior notes	0	93	93	93	189
Lease liabilities	12	10	11	14	17
Other liabilities	8	8	2	—	—
Total liabilities	705	657	594	590	683
Commitments and contingencies (Note 13)	—	—	—	—	—
Preferred stock, $0.0001 par value; 10,000 shares authorized and zero shares issued and outstanding at December 31, 2025 and 2024	0	0	0	0	0
Common stock, $0.0001 par value; 200,000 shares authorized at December 31, 2025 and 2024; 126,621 and 124,495 shares issued and outstanding at December 31, 2025 and 2024, respectively	12,000	12,000	12,000	11,000	10,000
Additional paid-in capital	3,385	3,267	3,036	2,480	1,857
Accumulated other comprehensive loss	−2	−3	−4	−875,000	−2
Accumulated deficit	−3,000	−3,035	−2,837	−2,309	−1,657
Total stockholders equity	370	229	195	170	199
Total liabilities and stockholders equity	1,075	885	789	760	882

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income/(loss)	22	−198	−529	−652	−746
Share-based compensation expense	104	114	106	91	71
Loss on disposal of fixed assets	—	—	120,000	—	—
Depreciation expense	2	2	2	2	1
Amortization of Discounts for Credit Facility and Convertible Notes	2	2	297,000	—	—
Accretion of discount to development liability	—	9	26	27	1
Accounts receivable	−101	−58	−199	2	−10
Inventory	−15	−11	−61	−69	−16
Prepaid and other current assets	−8	31	12	—	—
Other assets	−4	705,000	12	17	−13
Right-of-use assets and lease liabilities	−34,000	−277,000	−80,000	−65,000	—
Accounts payable	18	1	170,000	19	10
Accrued expenses and other liabilities	25	18	35	−6	−10
Net cash provided by/(used in) operating activities	45	−88	−595	−514	−563
Purchase of property and equipment	−313,000	−403,000	−773,000	−2	−1
Proceeds from sale of fixed assets	—	—	99,000	—	—
Net cash used in investing activities	−313,000	−403,000	−674,000	60	248
Proceeds from credit facility	—	365	—	—	—
Payment of issuance cost for credit facility	—	−7	—	—	—
Repayment of development liability	—	−327	−56	—	—
Proceeds from issuance of common stock, pre-funded warrant offering, net of issuance costs	—	—	384	—	—
Proceeds from exercise of stock options	6	14	71	21	15
Proceeds from issuance of common stock under employee share purchase plan	3	5	5	4	3
Payments of employee tax withholding related to equity-based compensation	−11,000	−57,000	−11	−6	−2
Net cash provided by financing activities	9	149	394	366	392
Effect of exchange rate changes on cash, cash equivalents and restricted cash	1	−659,000	135,000	−488,000	−2
Net increase (decrease) in cash, cash equivalents and restricted cash	55	60	−201	−89	75
Cash paid for interest	41	29	3	5	10

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro