- Apellis Pharmaceuticals Inc (NASDAQ:APLS) announced that the Phase 2 MERIDIAN study investigating systemic pegcetacoplan for amyotrophic lateral sclerosis (ALS) did not meet its primary endpoint of the Combined Assessment of Function and Survival (CAFS) rank score at Week 52.
- CAFS ranks patients’ clinical outcomes based on survival time and change in the ALS Functional Rating Scale-Revised (ALSFRS-R) score.
- The study also did not meet key secondary efficacy endpoints. Systemic pegcetacoplan was well tolerated in the study, and the data were consistent with the established safety profile.
- Based on the lack of efficacy, Apellis and Swedish Orphan Biovitrum AB (OTC:BIOVF) plan to discontinue the development of systemic pegcetacoplan for ALS.
- In April, Apellis and Sobi discontinued treatment in the open-label portion of the study following a recommendation from an independent data monitoring committee.
- In April, a Bloomberg report noted that large drugmakers were interested in Apellis Pharmaceuticals.
- The report added that Apellis might seek partnerships or licensing agreements for some of its ophthalmology products. Deliberations are ongoing, and there’s no certainty they will lead to a transaction.
- Price Action: APLS shares are down 2.05% at $84.79 on the last check Thursday.
Why Western Alliance Stock Is Moving Higher After The Close
Western Alliance Bancorp (NYSE: WAL) shares are trading higher in Tuesday's after-hours session after the bank said deposits stabilized in March and have since resumed growth trajectory.
