Apellis Pharmaceuticals, Inc. reports beneficial ownership disclosure by RTW Investments, LP and Roderick Wong. The filing states each Reporting Person holds 3,685,045 shares, representing 2.9% of Common Stock based on 127,829,909 Shares outstanding as of February 17, 2026. The shares are reported as subject to shared voting and dispositive power held by RTW Investments and Dr. Wong.
Positive
None.
Negative
None.
Insights
RTW Investments and Dr. Wong report a 2.9% shared stake in Apellis.
The filing shows 3,685,045 shares held with shared voting and dispositive power, calculated on 127,829,909 shares outstanding as of February 17, 2026. The statement clarifies these holdings reflect interests of RTW Funds.
Cash‑flow treatment and sale intent are not disclosed; subsequent filings would state any changes in holdings or disposition methods.
Key Figures
Shares reported:3,685,045 sharesPercent of class:2.9%Shares outstanding (base):127,829,909 shares
3 metrics
Shares reported3,685,045 sharesBeneficially owned by RTW Investments and Roderick Wong
Percent of class2.9%Calculated on 127,829,909 Shares outstanding as of February 17, 2026
Shares outstanding (base)127,829,909 sharesShares outstanding used for percentage calculation as of February 17, 2026
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.
shared dispositive powerregulatory
"Shared Dispositive Power 3,685,045.00"
beneficially ownedregulatory
"Amount beneficially owned: The information required by Item 4(a) is set forth"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
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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, $0.0001 par value
(Title of Class of Securities)
03753U106
(CUSIP Number)
03/31/2026
(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
RTW Investments, LP
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
3,685,045.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,685,045.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,685,045.00
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)
2.9 %
12
Type of Reporting Person (See Instructions)
IA, PN
SCHEDULE 13G
CUSIP Number(s):
03753U106
1
Names of Reporting Persons
Roderick Wong
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
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
3,685,045.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,685,045.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,685,045.00
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)
2.9 %
12
Type of Reporting Person (See Instructions)
HC, IN
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:
This statement is filed by:
(i) RTW Investments, LP ("RTW Investments"), a Delaware limited partnership and the investment adviser to certain funds (the "RTW Funds"), with respect to shares of Common Stock, par value $0.0001 per share (the "Shares") of Apellis Pharmaceuticals, Inc. (the "Company") directly held by the RTW Funds; and
(ii) Roderick Wong, M.D. ("Dr. Wong"), the Managing Partner and Chief Investment Officer of RTW Investments, with respect to the Shares directly held by the RTW Funds.
The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons."
The filing of this statement should not be construed as an admission that any of the foregoing persons or any Reporting Person is, for the purposes of Section 13 of the Securities Exchange Act of 1934, as amended, the beneficial owner of the Shares reported herein.
(b)
Address or principal business office or, if none, residence:
The address of the business office of each of the Reporting Persons is 40 10th Avenue, Floor 7, New York, New York 10014.
(c)
Citizenship:
RTW Investments is a Delaware limited partnership. Dr. Wong is a citizen of the United States.
(d)
Title of class of securities:
Common Stock, $0.0001 par value
(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:
The information required by Item 4(a) is set forth in Rows 5 - 9 of the cover page for each of the Reporting Persons and is incorporated herein by reference. The percentages set forth in Row 11 of the cover pages are calculated based upon 127,829,909 Shares outstanding as of February 17, 2026 as reported in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 24, 2026.
(b)
Percent of class:
RTW Investments: 2.9%
Dr. Wong: 2.9%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
RTW Investments: 0
Dr. Wong: 0
(ii) Shared power to vote or to direct the vote:
RTW Investments: 3,685,045 Shares
Dr. Wong: 3,685,045 Shares
(iii) Sole power to dispose or to direct the disposition of:
RTW Investments: 0
Dr. Wong: 0
(iv) Shared power to dispose or to direct the disposition of:
RTW Investments: 3,685,045 Shares
Dr. Wong: 3,685,045 Shares
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.
See Item 2. The RTW Funds have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Shares reported herein.
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.
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.
RTW Investments, LP
Signature:
/s/ Roderick Wong, M.D.
Name/Title:
Roderick Wong, M.D., Managing Partner
Date:
05/15/2026
Roderick Wong
Signature:
s/ Roderick Wong, M.D.
Name/Title:
Roderick Wong, M.D.
Date:
05/15/2026
Exhibit Information
Exhibit 99.1 Joint Filing Agreement (incorporated by reference to Exhibit 99.1 to the Reporting Persons' Schedule 13G filed with the SEC on February 17, 2026).
What stake does RTW Investments report in Apellis (APLS)?
RTW Investments reports beneficial ownership of 3,685,045 shares, equal to 2.9% of Apellis Common Stock based on 127,829,909 shares outstanding as of February 17, 2026. The shares are reported with shared voting and dispositive power.
Does Roderick Wong directly own the shares reported for APLS?
Dr. Wong is reported as having shared voting and dispositive power over 3,685,045 shares on behalf of RTW Funds. The filing states the holdings are reported with respect to shares directly held by the RTW Funds.
How was the percent of class for APLS calculated in the filing?
The 2.9% calculation uses 127,829,909 Shares outstanding as of February 17, 2026, as reported in the Company’s Annual Report on Form 10‑K filed February 24, 2026, per the filing text.
Who has the power to vote or dispose of the reported APLS shares?
The filing lists 0 sole power and 3,685,045 shared voting power and 3,685,045 shared dispositive power for both RTW Investments and Dr. Wong, indicating voting and disposition rights are shared among the Reporting Persons.
Does the filing state whether Apellis or the Reporting Persons will sell shares?
The filing does not state any sale or disposition plans. It reports current beneficial ownership and notes that the RTW Funds have rights to dividends and proceeds; no sale intent or method is disclosed in the provided excerpt.
