Apellis Pharma Faces Stock Plummet as European Regulator Hints at Negative Verdict on Pegcetacoplan! Will This Groundbreaking Treatment for Blindness Survive?”
Apellis Pharma (APLS) stock faced a significant pre-market downturn after news surfaced regarding the company’s anticipation of a negative opinion from a European regulatory body on Pegcetacoplan during its upcoming meeting.
Apellis Pharma
Following a negative trend vote received during an oral explanation meeting on December 13, Apellis is bracing for the Committee for Medicinal Products for Human Use (CHMP) to issue an unfavorable opinion during its scheduled meeting from January 22 to 25, 2024.
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In the event of an adverse opinion, Apellis has disclosed its intention to contest the outcome and pursue a re-examination of the opinion, as stated by the company.
Expressing disappointment, Jeffrey Eisele, Ph.D., Chief Development Officer at Apellis, remarked, “We are very disappointed in this outcome and saddened for the millions of GA patients in Europe who have no treatment for this leading cause of blindness.”
Despite this setback, Apellis remains confident in the robustness of the Phase 3 results and commits to ongoing collaboration with the CHMP, the retina community, and patient advocacy groups. The company aims to continue working towards bringing Pegcetacoplan to GA patients in Europe.
