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Apellis Pharmaceuticals' (APLS) Q3 Loss Wider Than Expected

Zacks Equity Research
·3 min read

Apellis Pharmaceuticals Inc. APLS reported a loss of $1.79 per share in the third quarter of 2020. The loss was wider than the year-ago quarter’s loss of $1.10 per share and the Zacks Consensus Estimate of a loss of $1.53.

With no approved drug in its portfolio, the company does not generate any revenue from the sale of products. However, it incurred licensing revenues of $0.65 million.

Shares of the company have decreased 2.2% compared with the industry’s decline of 8.0%.

Quarter in Detail

Research and development (R&D) expenses were $93.2 million in the third quarter of 2020 compared with$51.3 million for the same period in 2019.

General and administrative expenses were $37 million in the third quarter of 2020 compared with $18.6 million for the same period in 2019. 

Pipeline Update

In September 2020, Apellis submitted a new drug application (NDA) to the FDA and a marketing authorization application (MAA) to the European Medicines Agency (EMA) for pegcetacoplan for the treatment of paroxysmal nocturnal hemoglobinuria (PNH). The FDA’s filing decision on the NDA is expected in the fourth quarter of 2020. . An opinion from the Committee for Medicinal Products for Human Use (CHMP) is expected in 2021. 

The company expects to report 48-week top-line results from the PEGASUS study by the end of 2020 and top-line results from the phase III PRINCE study in patients with PNH who are treatment-naïve in the first half of 2021.

Zacks Rank and Stocks to Consider

Apellis currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the biotech sector are Emergent BioSolutions Inc. EBS, ADC Therapeutics SA ADCT and Bellus Health, Inc. BLU. While Emergent sports a Zacks Rank #1 (Strong Buy), ADC Therapeutics and Bellus Health carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Emergent’s earnings estimates have increased from $5.31 to $6.61 for 2020 and from $6.06 to $8.42 for 2021 over the past 90 days. Shares of the company have increased 68.8% year to date.

ADC Therapeutics’ loss per share estimates have narrowed from $4.37 to $4.32 for 2020 and from $3.19 to $3.08 for 2021 in the past 60 days. Shares of the company have decreased 2.2% year to date.

Bellus’loss per share estimates have narrowed from 71 cents to 62 cents for 2020 and from 88 cents to 79 cents in the past 90 days. Shares of the company have decreased 69.2% year to date.

 

Apellis Pharmaceuticals, Inc. Price, Consensus and EPS Surprise

Apellis Pharmaceuticals, Inc. Price, Consensus and EPS Surprise
Apellis Pharmaceuticals, Inc. Price, Consensus and EPS Surprise

Apellis Pharmaceuticals, Inc. price-consensus-eps-surprise-chart | Apellis Pharmaceuticals, Inc. Quote

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ADC Therapeutics SA (ADCT) : Free Stock Analysis Report
 
Emergent Biosolutions Inc. (EBS) : Free Stock Analysis Report
 
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