ALXN - Apellis' Lead Drug Tops Alexion's Blockbuster Soliris in a Pivotal Late-Stage Study
Apellis Pharmaceuticals (NASDAQ: APLS) announced results on Tuesday from its Pegasus late-stage clinical study evaluating experimental drug pegcetacoplan (APL-2) in treating adults with paroxysmal nocturnal hemoglobinuria (PNH), a rare blood disorder. The biotech company stated that pegcetacoplan achieved the primary efficacy endpoint of the study by producing greater improvement in patients' hemoglobin levels than Alexion Pharmaceuticals (NASDAQ: ALXN) Soliris.
This news caused Apellis stock to soar more than 20% Tuesday morning. Alexion's share price opened down more than 3% but later rebounded.
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