Apellis Pharmaceuticals Inc. shares jumped 8% premarket on Tuesday after competitor Iveric Bio, a unit of Astellas Pharma Inc. on Monday released results of...
Apellis Pharmaceuticals Inc. shares APLS, +5.76% jumped 8% premarket on Tuesday after competitor Iveric Bio, a unit of Astellas Pharma Inc.
on Monday released results of a trial of Izervay as a treatment for geographic atrophy, a form of age-related macular degeneration. Based on the new data, Izervay’s “efficacy is totally unclear and safety got worse,” Raymond James analysts wrote in a note Monday. The analysts maintained a strong buy rating on shares of Apellis, whose geographic atrophy treatment Syfovre was approved by the U.S. Food and Drug Administration early this year.
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