APLS - Here's Why Apellis Pharmaceuticals Stock Jumped as Much as 40.7% Today
Shares of Apellis Pharmaceuticals (NASDAQ: APLS) rose nearly 41% today after the company reported that its lead drug candidate proved superior to a competitor's therapy on a key clinical metric for individuals with paroxysmal nocturnal hemoglobinuria (PNH). The rare blood disease is characterized by hemolysis, or the breakdown of red blood cells, which leads to anemia and other complications caused by a lack of hemoglobin required to transport oxygen throughout the body.
Apellis Pharmaceuticals conducted a phase 3 study that pitted pegcetacoplan against Soliris from Alexion Pharmaceuticals (NASDAQ: ALXN). After 16 weeks, the experimental treatment drove a greater increase in hemoglobin levels than Soliris.
As of 1:15 p.m. EST, the clinical-stage pharma stock had settled to a 22.6% gain.