I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community.
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- Hot Stock That Must Be in Your Portfolio: Apellis Pharmaceuticals Inc. (NASDAQ: APLS) - August 21, 2019
WALTHAM Mass. and CRESTWOOD, Ky., August 21, 2019 – Shares of Apellis Pharmaceuticals Inc. (NASDAQ: APLS) inclined 1.59% to $29.36. The stock traded total volume of 244.885K shares lower than the average volume of 388.50K shares.
Apellis Pharmaceuticals Inc., (APLS) reported a net loss of $50.60M for the first quarter of 2019, compared to a net loss of $21.70M for the first quarter of 2018.
First Quarter 2019 Financial Results:
As of March 31, 2019, Apellis had $288.20M in cash and cash equivalents, compared to $176.30M as of December 31, 2018. This includes $109.60M in net proceeds raised in the public offering of common stock in March 2019 and a $60.00M upfront payment received through the collaboration with SFJ Pharmaceuticals.
Research and development expenses were $40.50M in the first quarter of 2019, compared to $17.40M for the same period in 2018. The increase was primarily attributable to an increase of $9.70M in clinical trial costs, an increase of $8.10M in manufacturing expenses, an increase of $3.90M in employee related costs primarily due to the hiring of additional personnel, an increase of $0.70M related to research and development supporting activities, and an increase of $0.70M in pre-clinical study expenses, partially offset by a decrease of $0.10M in device development expenses.
General and administrative expenses were $8.10M in the first quarter of 2019, compared to $4.00M for the same period in 2018. The increase was primarily attributable to an increase in employee related costs of $2.80M due to the hiring of additional personnel, an increase in professional and consulting fees of $0.90M, an increase in general office costs of $0.30M and an increase of $0.10M in insurance costs.
APLS has the market capitalization of $1.81B. The return on assets ratio of the Company was -60.80% while 66.10% of the stock was owned by institutional investors.