Apellis Pharmaceuticals Inc. (APLS - Free Report) reported a loss of $1.79 per share in the third quarter of 2020. The loss was wider than the year-ago quarter’s loss of $1.10 per share and the Zacks Consensus Estimate of a loss of $1.53.
With no approved drug in its portfolio, the company does not generate any revenue from the sale of products. However, it incurred licensing revenues of $0.65 million.
Shares of the company have decreased 2.2% compared with the industry’s decline of 8.0%.
Quarter in Detail
Research and development (R&D) expenses were $93.2 million in the third quarter of 2020 compared with$51.3 million for the same period in 2019.
General and administrative expenses were $37 million in the third quarter of 2020 compared with $18.6 million for the same period in 2019.
Pipeline Update
In September 2020, Apellis submitted a new drug application (NDA) to the FDA and a marketing authorization application (MAA) to the European Medicines Agency (EMA) for pegcetacoplan for the treatment of paroxysmal nocturnal hemoglobinuria (PNH). The FDA’s filing decision on the NDA is expected in the fourth quarter of 2020. . An opinion from the Committee for Medicinal Products for Human Use (CHMP) is expected in 2021.
The company expects to report 48-week top-line results from the PEGASUS study by the end of 2020 and top-line results from the phase III PRINCE study in patients with PNH who are treatment-naïve in the first half of 2021.
Zacks Rank and Stocks to Consider
Apellis currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the biotech sector are Emergent BioSolutions Inc. (EBS - Free Report) , ADC Therapeutics SA (ADCT - Free Report) and Bellus Health, Inc. . While Emergent sports a Zacks Rank #1 (Strong Buy), ADC Therapeutics and Bellus Health carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Emergent’s earnings estimates have increased from $5.31 to $6.61 for 2020 and from $6.06 to $8.42 for 2021 over the past 90 days. Shares of the company have increased 68.8% year to date.
ADC Therapeutics’ loss per share estimates have narrowed from $4.37 to $4.32 for 2020 and from $3.19 to $3.08 for 2021 in the past 60 days. Shares of the company have decreased 2.2% year to date.
Bellus’loss per share estimates have narrowed from 71 cents to 62 cents for 2020 and from 88 cents to 79 cents in the past 90 days. Shares of the company have decreased 69.2% year to date.
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Apellis Pharmaceuticals Inc. (APLS - Free Report) reported a loss of $1.79 per share in the third quarter of 2020. The loss was wider than the year-ago quarter’s loss of $1.10 per share and the Zacks Consensus Estimate of a loss of $1.53.
With no approved drug in its portfolio, the company does not generate any revenue from the sale of products. However, it incurred licensing revenues of $0.65 million.
Shares of the company have decreased 2.2% compared with the industry’s decline of 8.0%.
Quarter in Detail
Research and development (R&D) expenses were $93.2 million in the third quarter of 2020 compared with$51.3 million for the same period in 2019.
General and administrative expenses were $37 million in the third quarter of 2020 compared with $18.6 million for the same period in 2019.
Pipeline Update
In September 2020, Apellis submitted a new drug application (NDA) to the FDA and a marketing authorization application (MAA) to the European Medicines Agency (EMA) for pegcetacoplan for the treatment of paroxysmal nocturnal hemoglobinuria (PNH). The FDA’s filing decision on the NDA is expected in the fourth quarter of 2020. . An opinion from the Committee for Medicinal Products for Human Use (CHMP) is expected in 2021.
The company expects to report 48-week top-line results from the PEGASUS study by the end of 2020 and top-line results from the phase III PRINCE study in patients with PNH who are treatment-naïve in the first half of 2021.
Zacks Rank and Stocks to Consider
Apellis currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the biotech sector are Emergent BioSolutions Inc. (EBS - Free Report) , ADC Therapeutics SA (ADCT - Free Report) and Bellus Health, Inc. . While Emergent sports a Zacks Rank #1 (Strong Buy), ADC Therapeutics and Bellus Health carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Emergent’s earnings estimates have increased from $5.31 to $6.61 for 2020 and from $6.06 to $8.42 for 2021 over the past 90 days. Shares of the company have increased 68.8% year to date.
ADC Therapeutics’ loss per share estimates have narrowed from $4.37 to $4.32 for 2020 and from $3.19 to $3.08 for 2021 in the past 60 days. Shares of the company have decreased 2.2% year to date.
Bellus’loss per share estimates have narrowed from 71 cents to 62 cents for 2020 and from 88 cents to 79 cents in the past 90 days. Shares of the company have decreased 69.2% year to date.
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Imagine getting in early on a young industry primed to skyrocket from $17.7 billion in 2019 to an expected $73.6 billion by 2027. Although marijuana stocks did better as the pandemic took hold than the market as a whole, they’ve been pushed down. This is exactly the right time to get in on selected strong companies at a fraction of their value before COVID struck. Zacks’ Special Report, Marijuana Moneymakers, reveals 10 exciting tickers for urgent consideration.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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