APLS - APELLIS ALERT: Bragar Eagel & Squire P.C. is Investigating Apellis Pharmaceuticals Inc. on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm | Benzinga
NEW YORK, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) on behalf of long-term stockholders following a class action complaint that was filed against Apellis on August 2, 2023 with a Class Period from January 28, 2021 and January 28, 2023. Our investigation concerns whether the board of directors of Apellis have breached their fiduciary duties to the company.
Apellis is a commercial-stage biopharmaceutical company that focuses on the discovery, development, and commercialization of therapeutic compounds through the inhibition of the complement system for autoimmune and inflammatory diseases.
One of Apellis's leading therapeutic treatments, "SYFOVRE," is an intravitreal pegcetacoplan injection that is the first and only approved therapy for geographic atrophy ("GA"), a leading cause of blindness. SYFOVRE is designed to provide comprehensive control of the complement cascade, part of the body's immune system. In February 2023, SYFOVRE was approved by the U.S. Food and Drug Administration in the United States for the treatment of GA secondary to age-related macular degeneration.
The Class Period begins on January 28, 2021, the day of Apellis's Virtual Investor Event wherein Apellis gave an online presentation to shareholders titled, "Pegcetacoplan: Advancing the First Potential Treatment for Geographic Atrophy (GA)," which highlighted its ongoing Phase 3 "DERBY and OAKS" clinical trials and its completed Phase 2 "FILLY" clinical trial. In its presentation to shareholders, Apellis touted the efficacy of using pegcetacoplan in patients with GA, including that the Phase 2 FILLY trial showed decreased lesion growth and that safety was "in line with other studies of intravitreally administered agents."
Throughout the Class Period, Defendants repeatedly represented that SYFOVRE "demonstrated a favorable safety ...