Shares of Apellis Pharmaceuticals Inc. gained 6.1% in premarket trading on Wednesday after the company shared longer-term clinical data demonstrating that intravitreal pegcetacoplan reduced geographic atrophy lesion growth at 18 months. The data, culled from two clinical trials, will be used in the new drug application that is expected to be submitted to the Food and Drug Administration in the second quarter of this year. The study’s investigator said in a news release that the data shows the investigational therapy “meaningfully slows disease progression and has the potential to preserve vision longer.” Apellis shares are down 15.3% since the start of the year, while the broader S&P 500 is up 10.5%.
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