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Here's Why Apellis Pharmaceuticals Is Getting Hammered Today

TheMotleyFool

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Here's Why Apellis Pharmaceuticals Is Getting Hammered TodayPhoto, wide shot, wide-angle lens, Pharmaceutical company, Midday, harsh overhead sunlight, directional sunlightt, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/7ae4a134-dd01-4c80-a621-18399f5a2541.png

Shares of Apellis Pharmaceuticals (NASDAQ: APLS), a biopharmaceutical company focused on rare diseases, are sliding lower on Friday. Investors responding to conflicting clinical trial data for the company's experimental blindness prevention drug pushed the stock 47.94% lower as of 10:25 a.m. EDT on Friday.

Apellis earned Food and Drug Administration approval for its first drug, Empaveli, this May so there's still a lot riding on pegcetacoplan, the next potential new drug emerging from the company's pipeline. Unfortunately, pegcetacoplan produced clinical trial results that weren't as convincing as investors had hoped.

Image source: Getty Images.

Source Fool.com

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