Focus on rare diseases Apellis Pharmaceuticals Inc. (NASDAQ: APLS) is attracting acquisition interest from large drugmakers.
The company is in talks with advisers to consider its options amid interest, Bloomberg reported citing people familiar with the matter.
Apellis may also consider seeking partnerships or licensing agreements for some of its ophthalmology products, the report added. Discussions are ongoing and there is no certainty that they will lead to a transaction.
In February, the FDA approved Apellis Syfovre (pegcetacoplan injection) for geographic atrophy (GA) secondary to age-related macular degeneration (AMD), making it the first and only FDA-approved treatment for GA.
Analyst estimates call for peak revenues of more than $1 billion.
Meeting with another pharmaceutical company would give Apellis access to more resources and infrastructure to market and distribute Syfovre to US patients.
In 2021, the FDA approved Apellis Pharma Empaveli (pegcetacoplan) for paroxysmal nocturnal hemoglobinuria, a rare blood disorder.
The company has a market capitalization of nearly $7.3 billion at press time, according to Benzinga Pro.
In 2022Empaveli generated sales of $65.1 million, with total sales of $75.4 million for Apellis.
As of December 31, 2022, Apellis had $551.8 million in cash and cash equivalents.
Price Action: APLS shares rose 16.90% to $77.14 in late check on Monday.
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