Here's Why Apellis Pharmaceuticals Fell Today

Shares of Apellis Pharmaceuticals (NASDAQ: APLS), a clinical-stage biopharmaceutical company, fell on Thursday after Regeneron (NASDAQ: REGN) released top-line data for pozelimab. Investors worried that Apellis' lead candidate APL-2 won't be able to compete and hammered the stock 13.6% lower on Thursday.

Today, Regeneron announced successful results for pozelimab, an experimental treatment for a rare blood disorder called paroxysmal nocturnal hemoglobinuria (PNH). After eight weeks of treatment with the injectible antibody, levels of lactate dehydrogenase (LDH) fell to normal levels for all six patients treated. 

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Source Fool.com