Apellis (APLS) Amendment: Morgan Stanley Reports <5% Ownership via 13G/A

Rhea-AI Filing Summary

Apellis Pharmaceuticals (common stock) received an Amendment No. 1 to a Schedule 13G/A reporting that Morgan Stanley and Morgan Stanley Capital Services LLC have ceased to be beneficial owners of more than 5% of the class. The filing lists CUSIP 03753U106 and states 0.0% beneficial ownership on the cover responses; signatures dated 06/05/2026 appear on the amendment.

The filing is a corrective/amendment disclosure reflecting ownership below the 5% reporting threshold and includes a Joint Filing Agreement (Exhibit 99.1) and Item 7 information (Exhibit 99.2).

Insights

Shareholder Compliance Analyst

Amendment documents a reduction in reported ownership below 5%.

The filing states Morgan Stanley entities "have ceased to be the beneficial owner of more than five percent of the class of securities" and reports 0.0% in Item 4(b). This is a regulatory ownership-status update rather than a transaction narrative.

Cash‑flow treatment and exact prior holdings are not disclosed in the excerpt; subsequent filings or Item 7 exhibits may show the holdings history or clients implicated.

Governance & Reporting Specialist

Filing follows Rule 13G/A amendment practice and lists supporting exhibits.

The amendment references Release No. 34-39538 and aggregates MS Reporting Units, with Exhibits 99.1 and 99.2 attached. The signature block is dated 06/05/2026, confirming the amended filing.

Timing and mechanics that produced the below‑5% status are not described in the excerpt; further disclosure may appear in the attached exhibits.

Key Figures

Form type: Schedule 13G/A CUSIP: 03753U106 Beneficial ownership: 0.0% +2 more

5 metrics

Form type Schedule 13G/A Amendment No. 1

CUSIP 03753U106 Apellis Common Stock

Beneficial ownership 0.0% Item 4(b) reported on the cover responses

Signature date 06/05/2026 Authorized Signatory signatures for both filers

Exhibits listed 99.1, 99.2 Joint Filing Agreement; Item 7 Information

Key Terms

Schedule 13G/A, Beneficial owner, Joint Filing Agreement, MS Reporting Units

4 terms

Schedule 13G/A regulatory

"Amendment No. 1 to a Schedule 13G/A reporting beneficial ownership"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

Beneficial owner regulatory

"has ceased to be the beneficial owner of more than five percent of the class"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

Joint Filing Agreement regulatory

"EXHIBIT NO. 99.1 Joint Filing Agreement"

MS Reporting Units other

"securities beneficially owned by certain operating units (collectively, the "MS Reporting Units")"

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Apellis Pharmaceuticals, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

03753U106

(CUSIP Number)

05/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 03753U106

1

Names of Reporting Persons

Morgan Stanley

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.0 %

12

Type of Reporting Person (See Instructions)

HC, CO

Comment for Type of Reporting Person: As of the date hereof, Morgan Stanley has ceased to be the beneficial owner of more than five percent of the class of securities.

SCHEDULE 13G

CUSIP Number(s): 03753U106

1

Names of Reporting Persons

Morgan Stanley Capital Services LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

BD, CO

Comment for Type of Reporting Person: As of the date hereof, Morgan Stanley Capital Services LLC has ceased to be the beneficial owner of more than five percent of the class of securities.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Apellis Pharmaceuticals, Inc.
(b)	Address of issuer's principal executive offices: 100 FIFTH AVENUE, WALTHAM, MA, 02451
Item 2.
(a)	Name of person filing: 1: Morgan Stanley 2: Morgan Stanley Capital Services LLC
(b)	Address or principal business office or, if none, residence: 1: 1585 Broadway, New York, NY 10036 ;2: 1585 Broadway, New York, NY 10036
(c)	Citizenship: 1: Delaware 2: Delaware
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 03753U106
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See the response(s) to Item 9 on the attached cover page(s).
(b)	Percent of class: 0.0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s).
	(ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s).
	(iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s).
	(iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s).
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Certain clients of the reporting persons hold shares of the common stock with the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities; one of which Morgan Stanley Capital Services LLC has such right or power with respect to more than five percent of the common stock.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. * In Accordance with the Securities and Exchange Commission Release No. 34-39538 (January 12, 1998) (the "Release"), this filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by certain operating units (collectively, the "MS Reporting Units") of Morgan Stanley and its subsidiaries and affiliates (collectively, "MS"). This filing does not reflect securities, if any, beneficially owned by any operating units of MS whose ownership of securities is disaggregated from that of the MS Reporting Units in accordance with the Release.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Morgan Stanley

Signature:	Claire Gordon
Name/Title:	Authorized Signatory, Morgan Stanley
Date:	06/05/2026

Morgan Stanley Capital Services LLC

Signature:	Claire Gordon
Name/Title:	Authorized Signatory, Morgan Stanley Capital Services LLC
Date:	06/05/2026

Exhibit Information

EXHIBIT NO. EXHIBITS ------------------ ------------------------------------ 99.1 Joint Filing Agreement 99.2 Item 7 Information * Attention. Intentional misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001).

FAQ

What does Apellis (APLS) Schedule 13G/A Amendment No. 1 state?

The amendment states Morgan Stanley entities "have ceased to be the beneficial owner of more than five percent" and reports 0.0% beneficial ownership. It lists CUSIP 03753U106 and signatures dated 06/05/2026.

Which entities filed the amendment for APLS and where are they organized?

The filing names Morgan Stanley and Morgan Stanley Capital Services LLC as filers, both organized in Delaware. Principal business address is listed as 1585 Broadway, New York, NY 10036.

Does the amendment disclose how many shares Morgan Stanley holds in Apellis?

The excerpt reports 0.0% of the class in Item 4(b) and refers readers to Item 9 and cover responses for amounts. The amendment text itself does not list a numeric share count in the provided excerpt.

What exhibits accompany the Schedule 13G/A amendment for APLS?

The amendment lists Exhibit 99.1 (Joint Filing Agreement) and Exhibit 99.2 (Item 7 Information). These exhibits are cited but their detailed contents are not included in the provided excerpt.