Is Apellis Pharmaceuticals a Buy?
In early January, Apellis Pharmaceuticals (NASDAQ: APLS) announced late-stage clinical results demonstrating that its lead drug candidate bested a market-leading product from Alexion Pharmaceuticals (NASDAQ: ALXN) as a treatment for paroxysmal nocturnal hemoglobinuria (PNH). The results sent the pharmaceutical stock soaring. They also set the stage for an intriguing David-versus-Goliath showdown.
Apellis Pharmaceuticals is a pre-commercial company valued at $3 billion, although it sported a market valuation of only $800 million this time last year. Alexion Pharmaceuticals is a $23 billion industry leader. The former reported an operating loss of $90 million in the first nine months of 2019, while the latter generated an operating profit of $1.58 billion in that span.
Will the head-to-head results give the experimental treatment from Apellis Pharmaceuticals a leg up in the market?
Source Fool.com
