Apellis Pharmace SEC Filings

Apellis Pharmaceuticals insider transaction: David O. Watson, General Counsel and officer of Apellis Pharmaceuticals (APLS), reported a scheduled sale of 5,000 shares of Apellis common stock on 08/18/2025 at a price of $27.80 per share under a 10b5-1 trading plan dated March 3, 2025. After the reported sale, Mr. Watson beneficially owns 123,730 shares directly, plus 10,000 held in a custodial account for his minor children and 70,136 shares held by The David O. Watson Irrevocable Trust of 2023 (for which he disclaims beneficial ownership except to the extent of pecuniary interest). The Form 4 was signed on 08/19/2025.

Form 144 notice discloses a proposed sale of 5,000 common shares to be executed approximately on 08/18/2025 through Fidelity Brokerage Services LLC on NASDAQ with an aggregate market value of $139,000. The filing lists 126,289,910 shares outstanding for the class. The shares were acquired in two restricted stock vesting events from the issuer on 01/21/2024 (4,031 shares) and 01/28/2024 (969 shares), paid as compensation. The filer previously sold 5,000 shares on 06/16/2025 for $93,850 and 5,000 shares on 07/16/2025 for $97,750. The form includes broker and seller name/address details but lacks a named issuer in the filing text.

Wellington Management and affiliated entities report beneficial ownership of 9,009,522 shares of Apellis Pharmaceuticals common stock, equal to 7.17% of the class. The cover pages show no sole voting or dispositive power; voting power is shared for 8,713,716 shares and shared dispositive power for 9,009,522 shares, indicating these shares are held on behalf of clients of Wellington’s investment advisers. The filing states the securities are held in the ordinary course of business and not for the purpose of changing or influencing control. Reporting persons include four Wellington entities classified as holding companies (HC) and an investment adviser (IA) where noted.

Apellis Pharmaceuticals (APLS) Q2-25 10-Q highlights: Net revenue fell 11% YoY to $178.5 M, driven by slightly lower SYFOVRE sales ($150.6 M vs. $154.6 M) and a sharper drop in EMPAVELI ($20.8 M vs. $24.5 M). Licensing & other revenue added $7.1 M. Six-month revenue declined 7% to $345.3 M.

Profitability: Gross margin remained high; cost of sales decreased 41% to $13.6 M. Expense discipline lowered R&D 14% to $67.0 M; however, SG&A rose 2% to $131.1 M. Operating loss widened to $33.3 M and net loss to $42.2 M (-$0.33/sh). First-half net loss reached $134.4 M, vs. $104.1 M in 1H-24.

Balance sheet: Cash & equivalents ended at $370.0 M (vs. $411.3 M YE-24). Long-term debt totals $469.0 M (credit facility $375 M, converts $93.9 M). Equity fell to $156.3 M from $228.5 M on cumulative losses.

Liquidity & subsequent event: Management believes existing cash plus a $275 M upfront payment from Sobi (Royalty Buy-Down signed 1 Jul 25) and ongoing product sales fund operations for ≥12 months.

Operational notes: Inventory rose to $169.1 M; product-sales reserves $44.5 M. Customer D represents 62% of Q2 gross revenue. Development of systemic pegcetacoplan for TA-TMA discontinued post-quarter.

Key per-share data: Weighted-avg shares 126.0 M; net loss/share -$0.33 vs. -$0.30 YoY.

On 1 July 2025, Apellis Pharmaceuticals (NASDAQ: APLS) filed an 8-K announcing a Royalty Buy-Down Agreement with Swedish Orphan Biovitrum (Sobi).

• Up-front consideration: Sobi will pay Apellis $275 million in cash within five business days of closing.
• Milestone: Up to $25 million becomes payable upon European Medicines Agency (EMA) approval of Aspaveli for C3G and IC-MPGN.
• Royalty reduction: In exchange, Apellis will reduce Sobi’s royalty obligations under their October 2020 collaboration by 90 %, effective immediately.
• Royalty cap: The discount lasts until cumulative reduced royalties equal 1.45× the total amounts paid under the new agreement; thereafter, the original royalty rates resume.
• Lender consent: Sixth Street Lending Partners consented to the deal. As a condition, Apellis extended by one year the period during which prepayment premiums apply on its May 13 2024 credit facility.

The transaction delivers up to $300 million in non-dilutive liquidity, strengthening Apellis’ near-term cash position while delaying—but not eliminating—future royalty income from Aspaveli in Sobi territories. The 1.45× cap preserves long-term upside once Sobi recovers its investment. Investors should weigh immediate balance-sheet relief against the temporary 90 % royalty haircut and the extended prepayment-premium window on existing debt.

Apellis Pharmaceuticals, Inc. (APLS) filed a Form 4 disclosing that its Vice President & Chief Accounting Officer, James George Chopas, received a grant of 6,250 shares of common stock in the form of restricted stock units (RSUs) on 18 June 2025. The transaction was coded “A(1),” indicating an award under the company’s equity compensation plan at no cash cost to the executive (reported price $0). Following the grant, Chopas’ total beneficial ownership increased to 54,205 shares held directly.

The RSUs vest over a two-year period: 50 % on the first anniversary of the grant date and the remaining 50 % on the second anniversary, contingent upon continued employment. No derivative securities were acquired or disposed of, and the filing does not reference any Rule 10b5-1 trading plan. The filing was signed on 20 June 2025 by attorney-in-fact David Watson.

From an investor perspective, this is a routine executive equity award intended to align management incentives with shareholder interests. It does not change the company’s capital structure in a material way and is unlikely to affect near-term financial performance or valuation.