NEW YORK, Aug. 03, 2023 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the District of New Jersey on behalf of all persons or entities who purchased the securities of Apellis Pharmaceuticals, Inc. (“Apellis” or the “Company”) (NYSE: APLS) between January 28, 2021 and July 28, 2023, both dates inclusive (the “Class Period”).
One of Apellis’s leading therapeutic treatments, “SYFOVRE,” is an intravitreal pegcetacoplan injection that is the first and only approved therapy for geographic atrophy (“GA”), a leading cause of blindness. SYFOVRE is designed to provide comprehensive control of the complement cascade, part of the body’s immune system. In February 2023, SYFOVRE was approved by the U.S. Food and Drug Administration in the United States for the treatment of GA secondary to age-related macular degeneration.
According to the Complaint, the Company made false and misleading statements to the market. The clinical trials designed by Apellis for its SYFOVRE therapeutic treatment failed to identify cases of retinal vasculitis in patients receiving injections. The Company’s commercialization of SYFOVRE faced unknown risk factors. Based on these facts, the Complaint alleges that the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Apellis, investors suffered damages.
Investors who purchased or otherwise acquired shares of Apellis should contact the Firm prior to the October 2, 2023 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].
Please visit our website at http://www.gme-law.com for more information about the firm.
