Apellis (NASDAQ: APLS) releases unaudited Q4 and 2025 revenue data

Rhea-AI Filing Summary

Apellis Pharmaceuticals, Inc. furnished an update on its recent performance by issuing a press release with preliminary unaudited U.S. net product revenues for the fourth quarter and full year ended December 31, 2025. The update covers revenues for its products SYFOVRE and EMPAVELI, along with the company’s cash and cash equivalents as of December 31, 2025. These figures are management’s estimates, remain subject to completion of normal year-end closing procedures, and have not been audited or reviewed by the company’s independent registered public accounting firm. The press release containing the detailed numbers is included as an exhibit to this report.

Insights

Biopharma earnings & disclosure analyst

Apellis provides early visibility into 2025 product revenues, but numbers remain unaudited and subject to change.

Apellis Pharmaceuticals released preliminary, unaudited U.S. net product revenue figures for SYFOVRE and EMPAVELI for both the fourth quarter and full year ended December 31, 2025. It also disclosed estimated cash and cash equivalents as of that same date, giving the market an early look at top-line product performance and liquidity before full financial statements are available.

The company emphasizes that these amounts are management estimates, subject to completion of financial closing procedures, and have not been audited or reviewed by its independent registered public accounting firm. This means the figures could change when the formal annual results are reported. The detailed metrics are contained in the accompanying press release, which is furnished as an exhibit rather than filed, limiting potential liability under certain securities law provisions.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 12, 2026

Apellis Pharmaceuticals, Inc.

(Exact Name of Registrant as Specified in its Charter)

Delaware		001-38276		27-1537290
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

100 Fifth Avenue Waltham, MA		02451
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code: (617) 977-5700

Not applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $0.0001 par value per share		APLS		Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On January 12, 2026, Apellis Pharmaceuticals, Inc. (the “Company”) issued a press release announcing preliminary unaudited total U.S. net product revenues and net product revenues for SYFOVRE and EMPAVELI for the fourth quarter and full year ended December 31, 2025 and its cash and cash equivalents as of December 31, 2025. The full text of the press release issued by the Company in connection with the announcement is being furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The Company’s U.S. net product revenues and cash figures are preliminary and unaudited, represent management’s estimate as of the date of this report and are subject to completion of the Company’s financial closing procedures. The Company’s independent registered public accounting firm has not conducted an audit or review of, and does not express an opinion or any other form of assurance with respect to, the Company’s net product revenues or cash figures.

The information in this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.		Description
99.1		Press Release dated January 12, 2026
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

				Apellis Pharmaceuticals, Inc.
Date: January 12, 2026				By:		/s/ Timothy Sullivan
						Timothy Sullivan
						Chief Financial Officer

FAQ

What did Apellis Pharmaceuticals (APLS) disclose in this 8-K?

Apellis Pharmaceuticals furnished a press release announcing preliminary unaudited U.S. net product revenues for SYFOVRE and EMPAVELI for the fourth quarter and full year ended December 31, 2025, along with its cash and cash equivalents as of December 31, 2025.

Are Apellis Pharmaceuticals’ 2025 revenue figures final in this filing?

No. The company states that its U.S. net product revenues and cash figures are preliminary and unaudited, represent management’s estimates as of the report date, and are subject to completion of financial closing procedures.

Which Apellis products are covered by the preliminary revenue figures?

The preliminary unaudited U.S. net product revenues disclosed in the press release relate to Apellis’ products SYFOVRE and EMPAVELI for the fourth quarter and full year ended December 31, 2025.

Has Apellis’ independent auditor reviewed the preliminary numbers?

No. The filing specifies that the independent registered public accounting firm has not conducted an audit or review of the company’s net product revenues or cash figures and does not express any opinion or assurance on them.

Where can investors find the detailed preliminary 2025 figures for Apellis (APLS)?

The detailed preliminary unaudited U.S. net product revenues for SYFOVRE and EMPAVELI and the cash and cash equivalents information are contained in the company’s press release, which is furnished as Exhibit 99.1 to this report.

How is the Apellis Pharmaceuticals press release treated under securities laws in this 8-K?

The press release furnished as Exhibit 99.1 is expressly stated as not deemed “filed” for purposes of Section 18 of the Exchange Act and is not incorporated by reference into other filings unless specifically referenced.