NEW YORK, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP:

• Do you, or did you, own shares of Apellis Pharmaceuticals, Inc. (NASDAQ: APLS)?
• Did you purchase your shares between January 28, 2021 and July 28, 2023, inclusive?
• Did you lose money in your investment in Apellis Pharmaceuticals, Inc.?
• Do you want to discuss your rights?

Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the common stock of Apellis Pharmaceuticals Inc. (“Apellis” or the “Company”) (NASDAQ: APLS) between January 28, 2021 and July 28, 2023, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the District of Delaware and alleges violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).

If you purchased or acquired Apellis common stock, and/or would like to discuss your legal rights and options please visit Apellis Pharmaceuticals, Inc. Shareholder Class Action Lawsuit or contact Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.

According to the Complaint, Apellis is a commercial-stage biopharmaceutical company that focuses on the discovery, development, and commercialization of therapeutic compounds through the inhibition of the complement system for autoimmune and inflammatory diseases.   One of Apellis’s leading therapeutic treatments, “SYFOVRE,” is an injection that is the first and only approved therapy for geographic atrophy (“GA”), a leading cause of blindness. 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.

Plaintiff alleges that Defendants made materially false and misleading statements throughout the Class Period.  Among other things, Defendants failed to disclose to investors that: (1) the design of SYFOVRE’s clinical trials was insufficient to identify incidents of retinal vasculitis in patients receiving SYFOVRE injections; and (2) as a result, the commercial adoption of SYFOVRE was subject to significant, unknown risk factors.

On July 29, 2023, Apellis provided an update on the Company’s review of the six events of retinal vasculitis reported by the American Society of Retina Specialists concerning SYFOVRE treatments. In the update, Apellis confirmed a seventh event of retinal vasculitis resulting from SYFOVRE treatment as determined by Apellis’ internal safety committee and external retina/uveitis specialists. Apellis also stated that the Company is evaluating an eighth reported event of retinal vasculitis, which the Company had not yet confirmed.

On this news, Apellis’s common stock declined $6.27 per share, or approximately 19.6%, to close at $25.75 per share on July 31, 2023.

If you wish to serve as lead plaintiff, you must move the Court no later than October 2, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

If you purchased or acquired Apellis common stock, and/or would like to discuss your legal rights and options please visit Apellis Pharmaceuticals, Inc. Shareholder Class Action Lawsuit or contact Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for sixteen consecutive years.

ATTORNEY ADVERTISING. © 2023 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information:

Peter Allocco
Bernstein Liebhard LLP
https://www.bernlieb.com
(212) 951-2030
pallocco@bernlieb.com