Apellis Pharmaceuticals (APLS) 2024 Wells Fargo Healthcare Conference summary

Business overview and product performance

• Two commercial products, SYFOVRE for geographic atrophy and EMPAVELI for PNH, both seen as having blockbuster potential.

• SYFOVRE launched in February 2023, achieving 330,000 injections and $570 million in cumulative revenue by Q2.

• EMPAVELI approved for PNH in 2021, with promising data in C3G and IC-MPGN, targeting a rare kidney disease market.

• Company expects to reach profitability and cash flow positivity with $360 million in cash on hand, without needing to raise additional capital.

• Plans for an R&D day to discuss pipeline and future programs are under consideration.

SYFOVRE commercial strategy and market expansion

• Launch faced headwinds from reimbursement and contracting, but efforts are underway to address these and grow the market.

• Outreach to optometrists and general ophthalmologists aims to capture the 50% of patients outside retina specialist offices.

• Direct-to-consumer marketing and disease state education are key tactics to increase awareness and referrals.

• Messaging emphasizes efficacy, especially with increasing effects over time and flexible dosing regimens.

• Expansion efforts target both private practices and academic centers, with consistent messaging focused on disease education and efficacy.

Patient journey and product improvements

• Patient journey in retina offices remains consistent, with education and treatment options discussed at diagnosis.

• Referral work and education for non-retina offices are ongoing to improve patient access and awareness.

• Introduction of an ultra-thin wall needle in injection kits has improved the injection experience for physicians and patients.