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Benzinga
Benzinga
Business
Henry Khederian

Here's Why Apellis Pharmaceuticals Shares Are Rising

Apellis Pharmaceuticals Apellis Apellis Pharmaceuticals Inc Derby Oaks

Apellis Pharmaceuticals Inc (NASDAQ:APLS) shares are trading higher by 8.6% at $43.49 after the company announced Pegcetacoplan showed continuous and clinically meaningful effects at month 18 in Phase 3 Derby and Oaks studies for geographic atrophy.

Apellis Pharmaceuticals says, at month 18, Pegcetacoplan continued to demonstrate a favorable safety profile, consistent with safety at 12 months and longer-term exposure to intravitreal injections. The rate of infectious endophthalmitis was 0.044% per injection, and the rate of intraocular inflammation was 0.23% per injection.

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