Wolf Haldenstein Adler Freeman & Herz LLP is investigating potential securities fraud claims against Apellis Pharmaceuticals
NEW YORK, NY – July 30, 2023 – Wolf Haldenstein Adler Freeman & Herz LLP (“Wolf Haldenstein”), a preeminent national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors Apellis Pharmaceuticals, Inc. (“Apellis” or “the Company”) (NASDAQ: APLS) for violations of federal securities laws.
All investors who purchased shares and incurred losses are advised to contact the firm immediately at firstname.lastname@example.org or (800) 575-0735 or (212) 545-4774.
Apellis is a commercial-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutic compounds to treat diseases with high unmet needs through inhibition of the complement system, which is an integral component of the immune system, at the level of C3, the central protein in the complement cascade. The Company believes that this approach can result in broad inhibition of the principal pathways of the complement system and has the potential to effectively control a broad array of complement-dependent autoimmune and inflammatory diseases.
The Company has disclosed that its “long-term prospects depend upon the commercial success of EMPAVELI and SYFOVRE.” The FDA approved Syfovre in February 2023 for the treatment of geographic atrophy secondary to age-related macular degeneration or GA. Further, in connection with its trials, the Company expressly stated in its filings that “[n]o events of occlusive or non-occlusive vasculitis or retinitis were observed over 24 months.”
On July 17, 2023, Investors Business Daily published an article entitled “Apellis Pharma Crashes after Safety Report Undercuts its Newest Eye Drug.” According to the article, the American Society of Retina Specialists issued a notification that “six patients experienced occlusive retinal vasculitis following their first Syfovre injections.” According to the article, “occlusive retinal vasculitis … occurs when the blood vessels become inflamed.”
On this news, shares of Apellis declined nearly 38% from a July 14, 2023, close of $84.47 per share down to $52.43 per share at close on July 17, 2023.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your righs and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at email@example.com.
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis