Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Q3 2023 Earnings Conference Call November 1, 2023 8:00 AM ET
Company Participants
Cedric Francois - Co-Founder and CEO
Tim Sullivan - CFO
Adam Townsend - CCO
Caroline Baumal - CMO
Meredith Kaya - SVP, IR
Conference Call Participants
Jonathan Miller - Evercore
Tazeen Ahmad - Bank of America
Anupam Rama - JPMorgan
Yigal Nochomovitz - Citigroup
Steven Seedhouse - Raymond James
Phil Nadeau - TD Cowen
Derek Archila - Wells Fargo
Eliana Merle - UBS
Akash Tewari - Jefferies
Annabel Samimy - Stifel Financial Corp.
Douglas Tsao - H.C. Wainwright
Joseph Stringer - Needham & Company
Operator
Good morning ladies and gentlemen. Thank you for standing by and welcome to the Apellis Pharmaceuticals Third Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please note that today’s conference is being recorded.
I will now hand the conference over to your speaker host, Meredith Kaya, Senior Vice President of Investor Relations and Strategic Finance. Please go ahead.
Meredith Kaya
Good morning and thank you for joining us to discuss Apellis' third quarter 2023 financial results. With me on the call are Co-Founder and Chief Executive Officer Dr. Cedric Francois; Chief Commercial Officer, Adam Townsend; Chief Medical Officer, Dr. Caroline Baumal; and Chief Financial Officer, Tim Sullivan.
Before we begin, let me point out that we will be making forward-looking statements that are based on our current expectations and beliefs. These statements are subject to certain risks and uncertainties and our actual results may differ materially. I encourage you to consult the risk factors discussed in our SEC filings for additional detail.
Now, I’ll turn the call over to Cedric.
Cedric Francois
Thank you, Meredith, and thank you all for joining us this morning. It has been a busy few months here at Apellis and the period is not without its share of ups and downs. That said, I am thrilled with where our company is today and then more confident than ever in the opportunities that we have in front of us.
Importantly we are delivering on our goals of bringing EMPAVELI and SYFOVRE to patients with nearly $100 million in total of the U.S. net product revenue generated in the third quarter and continuing to be [indiscernible] potentially transformative new treatments.
I'll begin with SYFOVRE. We reported $75 million in SYFOVRE U.S. net product revenue in the third quarter, up about 12% quarter-over-quarter resulting in more than $160 million in U.S. net product revenue generated in the first seven months since launch. A few key highlights include more than 100,000 vials of SYFOVRE have been distributed since launch through our last update on October 5th which we believe underscores the positive impact it is having on the lives of thousands of patients across the U.S.