APLS - Apellis Pharmaceuticals, Inc.
Price:
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--
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CONSENSUS:
Buy
DETAILS
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PRICE TARGET:
$33.40
DETAILS
HIGH:
$48.00
LOW:
$19.00
MEDIAN:
$35.00
CONSENSUS:
$33.40
DOWNSIDE:
18.60%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||
| Revenue | 1,003.8 | 781.4 | 396.6 | 75.4 | 66.6 | 250.6 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of Revenue | 102.2 | 117.7 | 58.5 | 5.6 | 5.2 | 25.1 | 0.6 | 127.9 | 0 | 0 | 0 | 0 | 0 |
| Gross Profit | 901.5 | 663.6 | 338.1 | 69.8 | 61.4 | 225.6 | (0.6) | (127.9) | (50.8) | 0 | 0 | 0 | 0 |
| Operating Expenses | |||||||||||||
| R&D Expenses | 295.9 | 327.6 | 354.4 | 387.2 | 420.9 | 299.9 | 221.0 | 105.3 | 40.3 | 23.0 | 13.7 | 8.4 | 2.3 |
| SG&A Expenses | 550.3 | 501.1 | 500.8 | 277.2 | 176.8 | 139.4 | 66.5 | 22.6 | 10.5 | 4.3 | 6.4 | 2.9 | 1.7 |
| Other Expenses | 0 | 0 | 0 | (0.3) | 1.4 | (0.5) | 0 | (0.1) | 0.0 | 0.2 | 0.0 | 0.0 | 0.0 |
| Operating Expenses | 846.1 | 828.6 | 855.2 | 664.4 | 597.6 | 439.3 | 287.4 | 127.9 | 50.8 | 27.3 | 20.1 | 11.3 | 4.0 |
| Operating Income | |||||||||||||
| Operating Income | 55.4 | (165.0) | (517.1) | (594.6) | (536.3) | (213.7) | (288.0) | (127.9) | (50.8) | (27.3) | (46.6) | (11.3) | (4.0) |
| Interest Expense | 44.3 | 40.4 | 29.6 | 32.6 | 13.2 | 29.9 | 5.3 | 2.5 | 0.1 | 0 | 0 | 0 | 0 |
| Interest Income | 13.1 | 12.8 | 20.9 | 8.9 | 0.4 | 4.2 | 5.1 | 3.0 | 0 | 0 | 0 | 0 | 0 |
| Profitability | |||||||||||||
| EBITDA | 70.0 | (154.5) | (495.2) | (617.4) | (731.3) | (312.2) | (298.8) | 0 | (50.9) | 0.2 | 6.4 | (11.3) | (4.0) |
| EBIT | 68.4 | (156.3) | (496.9) | (618.9) | (732.8) | (313.1) | (299.4) | (125.0) | (50.9) | (27.1) | (46.5) | (11.3) | (4.0) |
| Income Before Tax | 24.1 | (196.7) | (526.5) | (651.5) | (746.0) | (343.0) | (304.7) | (127.5) | (51.0) | (27.1) | (46.5) | (11.2) | (4.0) |
| Income Tax Expense | 1.7 | 1.2 | 2.1 | 0.7 | 0.4 | 1.8 | 0 | (0.5) | 0.3 | 0 | 0 | (0.4) | 0 |
| Net Income | 22.4 | (197.9) | (528.6) | (652.2) | (746.4) | (344.9) | (304.7) | (127.5) | (51.0) | (27.1) | (46.5) | (10.8) | (4.0) |
| Per Share Data | |||||||||||||
| EPS (Basic) | 0.18 | -1.60 | -4.45 | -6.15 | -8.84 | -4.59 | -4.98 | -2.34 | -1.49 | -1.50 | -2.57 | -0.60 | -0.86 |
| EPS (Diluted) | 0.18 | -1.60 | -4.45 | -6.15 | -8.84 | -4.59 | -4.98 | -2.34 | -1.49 | -1.50 | -2.57 | -0.60 | -0.86 |
| Shares Outstanding | 126.0 | 123.9 | 118.7 | 106.1 | 84.4 | 75.2 | 62.2 | 54.4 | 34.2 | 18.1 | 18.1 | 18.1 | 4.6 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||||
| Cash & Cash Equivalents | 467.8 | 411.3 | 351.2 | 551.8 | 640.2 | 565.8 | 352.0 | 176.3 | 175.6 | 24.9 |
| Short-Term Investments | 0 | 4.8 | 1.1 | 0 | 61.0 | 311.9 | 0 | 0 | 0 | 0 |
| Net Receivables | 366.2 | 271.7 | 206.4 | 7.7 | 80.1 | 25 | 0 | 0 | 0 | 0 |
| Inventory | 142.6 | 82.5 | 146.4 | 85.7 | 24.0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 0 | 9.1 | 22.4 | 36.7 | 13.5 | 11.1 | 1.3 | 1.8 | 1.3 | 1.4 |
| Total Current Assets | 1,014.8 | 789.0 | 766.3 | 719.5 | 824.0 | 917.2 | 373.1 | 202.4 | 182.0 | 27.4 |
| Non-Current Assets | ||||||||||
| Property, Plant & Equipment | 19.9 | 19.0 | 21.1 | 24.9 | 26.1 | 24.5 | 15.8 | 1.0 | 0 | 0 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 3.2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 40.5 | 77.1 | (1.9) | 15.8 | 31.6 | 18.9 | 0.4 | 0.1 | 0.1 | 0.1 |
| Total Non-Current Assets | 60.4 | 96.1 | 22.4 | 40.7 | 57.7 | 43.4 | 16.2 | 1.1 | 0.1 | 0.1 |
| Total Assets | 1,075.3 | 885.1 | 788.7 | 760.2 | 881.8 | 960.6 | 389.2 | 203.5 | 182.1 | 27.4 |
| Current Liabilities | ||||||||||
| Account Payables | 56.8 | 38.6 | 37.5 | 37.3 | 16.9 | 8.5 | 8.4 | 10.3 | 3.7 | 2.5 |
| Short-Term Debt | 100.7 | 0 | 0 | 0 | 0 | 0 | 2.6 | 1.7 | 0 | 0 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 127.5 | 0 | 75.8 | 81.4 | 7.6 | 4.2 | 43.3 | 0 | 0 | 0 |
| Total Current Liabilities | 323.6 | 185.5 | 247.6 | 167.6 | 131.8 | 128.3 | 65.8 | 17.0 | 6.6 | 3.6 |
| Non-Current Liabilities | ||||||||||
| Long-Term Debt | 373.6 | 452.8 | 93.0 | 92.7 | 189.0 | 358.8 | 142.6 | 25.4 | 26.4 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | (4.0) | 8.0 | 242.1 | 315.6 | 345.2 | 253.6 | 134.8 | 0.2 | 0.2 | 0 |
| Total Non-Current Liabilities | 381.5 | 471.0 | 346.6 | 422.7 | 551.3 | 627.7 | 289.3 | 25.5 | 26.6 | 0 |
| Total Liabilities | 705.1 | 656.5 | 594.2 | 590.3 | 683.1 | 756.0 | 355.0 | 42.6 | 33.2 | 3.6 |
| Stockholders' Equity | ||||||||||
| Common Stock | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Retained Earnings | (3,013.0) | (3,035.4) | (2,837.5) | (2,308.9) | (1,656.7) | (926.3) | (581.5) | (276.8) | (149.3) | (98.3) |
| Accumulated Other Comprehensive Income | (2.1) | (3.3) | (3.5) | (0.9) | (2.1) | (0.1) | (0.2) | (0.1) | 0 | 0 |
| Total Stockholders' Equity | 370.1 | 228.5 | 194.5 | 169.9 | 198.7 | 204.6 | 34.2 | 161.0 | 148.9 | 23.8 |
| Total Liabilities & Equity | 1,075.3 | 885.1 | 788.7 | 760.2 | 881.8 | 960.6 | 389.2 | 203.5 | 182.1 | 27.4 |
| Debt Metrics | ||||||||||
| Total Debt | 486.3 | 469.8 | 110.9 | 112.7 | 210.2 | 377.7 | 157.0 | 27.0 | 26.4 | 0 |
| Net Debt | 18.5 | 58.5 | (240.3) | (439.1) | (430.0) | (188.0) | (195.0) | (149.2) | (149.3) | (24.9) |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||
| Net Income | 22.4 | (197.9) | (528.6) | (652.2) | (746.4) | (344.9) | (304.7) | (127.5) | (51.0) | (27.1) |
| Depreciation & Amortization | 0 | 1.8 | 1.7 | 1.5 | 1.5 | 0.9 | 0.6 | 0 | 0.0 | 0 |
| Stock-Based Compensation | 0 | 114.1 | 105.9 | 91.1 | 70.7 | 45.4 | 21.1 | 7.7 | 5.4 | 1.1 |
| Change in Working Capital | (85.1) | (18.4) | (200.2) | (15.7) | (93.5) | 19.6 | 53.3 | (12.0) | (1.2) | 0.0 |
| Other Non-Cash Items | 108.1 | 12.4 | 26.4 | 61.6 | 6.3 | 118.6 | 18.5 | 0.6 | 0.0 | 1.0 |
| Operating Cash Flow | 45.3 | (87.9) | (594.7) | (513.7) | (563.1) | (160.5) | (211.1) | (131.2) | (46.6) | (26.0) |
| Investing Activities | ||||||||||
| Capital Expenditure | (0.3) | (0.4) | (0.8) | (1.5) | (1.1) | (5.4) | (1.7) | 0 | 0 | 0 |
| Acquisitions | 0 | 0 | 0 | (61.4) | (248.7) | 0 | 0 | 0 | 0 | 0 |
| Purchases of Investments | 0 | 0 | 0 | (331.9) | (171.3) | (879.1) | 0 | 0 | 0 | 0 |
| Sales/Maturities of Investments | 0 | 0 | 0 | 393.3 | 420 | 567.5 | 0 | 0 | 0 | 0 |
| Other Investing Activities | 0 | 0 | 0.1 | 61.4 | 248.7 | 0 | 0 | 0 | 0 | 0 |
| Investing Cash Flow | (0.3) | (0.4) | (0.7) | 59.9 | 247.6 | (317.0) | (1.7) | 0 | 0 | 0 |
| Financing Activities | ||||||||||
| Net Debt Issuance | 0 | 365.5 | 0 | 0 | 0 | 322.9 | 184.2 | 0 | 26.4 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | (0.0) | (235.0) | 10.1 | (14.5) | 11.9 | (12.1) | 94.7 | 0.7 | 1.2 | 0 |
| Financing Cash Flow | 8.9 | 149.2 | 394.5 | 365.7 | 392.2 | 692.2 | 388.5 | 131.9 | 197.4 | 14.9 |
| Cash Position | ||||||||||
| Net Change in Cash | 55.1 | 60.3 | (200.8) | (88.7) | 74.7 | 215.1 | 175.7 | 0.6 | 150.8 | (11.1) |
| Cash at Beginning | 412.6 | 352.3 | 553.1 | 641.8 | 567.0 | 352.0 | 176.3 | 175.6 | 24.9 | 36.0 |
| Cash at End | 467.8 | 412.6 | 352.3 | 553.1 | 641.8 | 567.0 | 352.0 | 176.3 | 175.6 | 24.9 |
| Free Cash Flow | 45.0 | (88.3) | (595.5) | (515.3) | (564.2) | (165.9) | (212.8) | (131.2) | (46.6) | (26.0) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 1,003.8 | 781.4 | 396.6 | 75.4 | 66.6 | 250.6 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Profit | 901.5 | 663.6 | 338.1 | 69.8 | 61.4 | 225.6 | (0.6) | (127.9) | (50.8) | 0 | 0 | 0 | 0 |
| Operating Income | 55.4 | (165.0) | (517.1) | (594.6) | (536.3) | (213.7) | (288.0) | (127.9) | (50.8) | (27.3) | (46.6) | (11.3) | (4.0) |
| Net Income | 22.4 | (197.9) | (528.6) | (652.2) | (746.4) | (344.9) | (304.7) | (127.5) | (51.0) | (27.1) | (46.5) | (10.8) | (4.0) |
| EPS (Diluted) | 0.18 | -1.60 | -4.45 | -6.15 | -8.84 | -4.59 | -4.98 | -2.34 | -1.49 | -1.50 | -2.57 | -0.60 | -0.86 |
| Balance Sheet | |||||||||||||
| Cash & Equivalents | 467.8 | 411.3 | 351.2 | 551.8 | 640.2 | 565.8 | 352.0 | 176.3 | 175.6 | 24.9 | |||
| Total Assets | 1,075.3 | 885.1 | 788.7 | 760.2 | 881.8 | 960.6 | 389.2 | 203.5 | 182.1 | 27.4 | |||
| Total Debt | 486.3 | 469.8 | 110.9 | 112.7 | 210.2 | 377.7 | 157.0 | 27.0 | 26.4 | 0 | |||
| Stockholders' Equity | 370.1 | 228.5 | 194.5 | 169.9 | 198.7 | 204.6 | 34.2 | 161.0 | 148.9 | 23.8 | |||
| Cash Flow | |||||||||||||
| Operating Cash Flow | 45.3 | (87.9) | (594.7) | (513.7) | (563.1) | (160.5) | (211.1) | (131.2) | (46.6) | (26.0) | |||
| Capital Expenditure | (0.3) | (0.4) | (0.8) | (1.5) | (1.1) | (5.4) | (1.7) | 0 | 0 | 0 | |||
| Free Cash Flow | 45.0 | (88.3) | (595.5) | (515.3) | (564.2) | (165.9) | (212.8) | (131.2) | (46.6) | (26.0) | |||