Syfovre's Competitive Edge Highlights Bright Future For Apellis Pharmaceuticals, Analyst Initiates With Bullish Pitch

William Blair has initiated coverage on Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) and notes that Apellis was the first company to successfully target complement C3, which has led to the approval of two therapies: Empaveli (systemic pegcetacoplan) for paroxysmal nocturnal hemoglobinuria and Syfovre (intravitreal pegcetacoplan) for geographic atrophy secondary to age-related macular degeneration.

William Blair writes that although Empaveli has established a solid position in the PNH market, short-term challenges are anticipated due to the emergence of a new competitor, Novartis AG’s (NYSE:NVS) Fabhalta (iptacopan).

Also Read: Apellis Pharmaceuticals’ Pegcetacoplan Meets Primary Goal In Late-Stage Study In Patients With Rare Kidney Diseases.

However, Empaveli has a more significant market opportunity in C3 glomerulopathy (C3G) and immune-complex membranoproliferative glomerulonephritis (IC-MPGN), especially following the strong top-line results from ...