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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Apellis Pharmaceuticals
Apellis Pharmaceuticals (APLS) investor relations material
Apellis Pharmaceuticals has been acquired by Biogen Inc
Apellis Pharmaceuticals Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary7 May, 2026
Executive summary
Achieved net income of $18.7 million for Q1 2026, reversing a net loss of $92.2 million in Q1 2025, driven by strong product and licensing revenue growth.
Entered into a merger agreement with Biogen Inc. for $41.00 per share plus contingent value rights (CVRs) up to $4.00 per share, with closing expected mid-Q2 2026.
Continued commercialization of EMPAVELI and SYFOVRE, with expanded indications and international approvals supporting revenue growth.
Financial highlights
Total revenue rose 61% year-over-year to $268.3 million, with product revenue up 28% to $192.0 million and licensing/other revenue up 351% to $76.3 million.
Operating expenses decreased 3% year-over-year to $241.8 million, with R&D down 11% and SG&A down 4%.
Net operating income was $26.5 million, compared to a loss of $83.3 million in Q1 2025.
Cash and cash equivalents totaled $405.2 million as of March 31, 2026.
Outlook and guidance
Management expects cash and anticipated product sales to fund operations and capital expenditures for at least the next 12 months.
Ongoing investments in commercialization and clinical development are expected to continue, with a focus on expanding indications and international markets.
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Latest events from Apellis Pharmaceuticals
- Syfovre's strong relaunch and maturing efficacy data position it for leadership in a growing market.APLS
Goldman Sachs 45th Annual Global Healthcare Conference - Market poised for growth with new kidney filing expected early next year and strong payer support.APLS7th Annual Evercore ISI HealthCONx Healthcare Conference
- $5.6B deal adds two FDA-approved drugs, boosting nephrology and long-term growth.APLSM&A announcement
- Strong product launches and pipeline innovation position the company for future growth.APLSTD Cowen 46th Annual Health Care Conference
- Q3 2025 revenue hit $459M, net income $215.7M, driven by EMPAVELI and Sobi royalty deal.APLSQ3 2025
- Strong clinical results and robust pipeline drive growth and market leadership in key indications.APLSCiti's 2024 Global Healthcare Conference
- Q3 revenue up 78% to $196.8M, net loss narrows, and cash reserves reach $396.9M.APLSQ3 2024
- Pegcetacoplan cut proteinuria by 68% in C3G/IC-MPGN with strong efficacy and safety.APLSStudy Result
- Q2 revenue hit $199.7M, driven by SYFOVRE, with net loss sharply reduced and strong cash position.APLSQ2 2024
- Q1 2025 revenue reached $166.8M, with SYFOVRE growth and EMPAVELI regulatory progress.APLSQ1 2025
Apellis Pharmaceuticals
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Frequently asked questions
Apellis Pharmaceuticals Inc. is a biopharmaceutical company focused on developing therapies for autoimmune and rare diseases. The company’s research is centered around complement inhibition, targeting the C3 protein in the complement system, which plays a key role in immune response. Apellis’ lead products and drug candidates aim to treat conditions such as geographic atrophy (a form of age-related macular degeneration) and paroxysmal nocturnal hemoglobinuria (PNH), among other serious diseases. The company is headquartered in Waltham, Massachusetts, and its shares are listed on the NASDAQ.