Apellis Pharmaceuticals Q4 Earnings Call Highlights

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MarketBeat

Tue, February 24, 2026 astatine 9:44 AM CST 8 min read

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Apellis reported $200 million successful Q4 gross and $1.0 billion for full-year 2025 (which included a one-time $275 million upfront from the Sobi royalty repurchase); merchandise income showed Syfovre astatine $155M Q4 / $587M FY (≈102,000 doses delivered with elevated free‑goods usage) and Empaveli astatine $35M Q4 / $102M FY with >5% marketplace penetration and 267 cumulative commencement forms.
Clinical and commercialized momentum for Syfovre includes a post‑hoc five‑year GALE investigation showing ~1.5 years delayed GA progression successful non‑subfoveal patients and ~17% YoY injection growth, positive near‑term signifier improvements with a prefilled syringe submission targeted successful H1 2026 and an AI‑based “Functional OCT” instrumentality planned for probe usage successful H2 2026.
Pipeline and balance‑sheet highlights: Apellis has started pivotal Empaveli trials successful FSGS and delayed graft function, expects Syfovre+APL‑3007 Phase 2 top‑line successful 2027 and an APL‑9099 IND successful H2 2026, and ended 2025 with $466 million currency portion managing ~$94 million of convertible indebtedness maturing successful September (plus a $25M Sobi milestone triggered successful Q1 2026).
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Apellis Pharmaceuticals (NASDAQ:APLS) utilized its fourth-quarter and full-year 2025 net telephone to item what absorption described arsenic a twelvemonth of “disciplined execution and instauration building,” led by continued request for its geographic atrophy (GA) therapy Syfovre and an aboriginal motorboat ramp for Empaveli successful uncommon complement-mediated kidney diseases.

Chief Financial Officer Timothy Sullivan said full gross was $200 million for the 4th fourth and $1.0 billion for the afloat twelvemonth 2025. He noted that full-year gross included a one-time $275 cardinal upfront payment tied to the Sobi royalty repurchase agreement.

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Syfovre nett merchandise gross was $155 million successful the 4th fourth and $587 million for the afloat year. Sullivan said Apellis delivered astir 102,000 Syfovre doses to doc offices successful the quarter, including astir 89,000 commercialized doses and 13,000 escaped goods doses. Management reiterated that reported gross successful 2025 was “meaningfully impacted” by elevated escaped goods utilization.

Empaveli generated $35 million successful U.S. nett merchandise gross successful the 4th fourth and $102 million for the afloat twelvemonth 2025. The institution emphasized that the July FDA support for C3 glomerulopathy (C3G) and superior immune analyzable membranoproliferative glomerulonephritis (IC-MPGN) has positioned Empaveli arsenic what absorption called its “near-term maturation engine.”

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