Shares of Apellis Pharmaceuticals (APLS) took a significant dive on Friday after the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) confirmed its negative opinion on the marketing authorization application for intravitreal pegcetacoplan. This drug was intended to treat geographic atrophy (GA), a form of age-related macular degeneration that causes irreversible vision loss.
The CHMP’s decision comes after a re-examination of the application, originally submitted in June 2024. Despite broad support for pegcetacoplan from the European retina community and multiple dissenting votes by CHMP members who favored approval, the committee ultimately decided against it.
Cedric Francois, CEO and co-founder of Apellis, expressed deep disappointment in the outcome, emphasizing that it leaves millions of Europeans with GA without a treatment for this debilitating condition.
For investors seeking exposure to Apellis Pharmaceuticals or the broader healthcare sector, there are alternative avenues beyond direct stock purchase. Exchange-traded funds (ETFs) often hold shares in large and liquid companies within specific sectors, allowing investors to gain exposure to industry trends. Apellis Pharmaceuticals, as a healthcare company, is likely included in various healthcare ETFs.
In addition, investors can participate in the healthcare sector through their 401(k) retirement accounts by allocating funds to strategies that invest in mutual funds or other instruments.
At the time of writing, Apellis Pharmaceuticals stock was down by 10.50%, trading at $32.95. This decline reflects the market’s reaction to the EMA’s decision. It remains to be seen how this setback will impact the company’s future prospects.
