$41.03
-0.073%Apellis Pharmaceuticals, Inc., a commercial-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic compounds through the inhibition of the complement system for autoimmune and inflammatory diseases. The company's lead product candidate is pegcetacoplan that is in Phase III clinical trials for the treatment of geographic atrophy (GA) in age-related macular degeneration and paroxysmal nocturnal hemoglobinuria (PNH) diseases. It also develops EMPAVELI (systemic pegcetacoplan) for the treatment of cold agglutinin disease (CAD), and hematopoietic stem cell transplantation-associated thrombotic microangiopathy (HSCT-TMA) in hematology; C3 glomerulopathy (C3G), and immune complex membranoproliferative glomerulonephritis (IC-MPGN) in nephrology; and amyotrophic lateral sclerosis (ALS) in neurology. In addition, the company develops APL-2006, a bispecific C3 and VEGF inhibitor for treating complement-mediated disorders; APL-1030, a C3 inhibitor for the treatment of multiple neurodegenerative diseases; and the combination of EMPAVELI and a small interfering RNA, or siRNA for reducing the production of C3 proteins by the liver. It has a collaboration and license agreement with Swedish Orphan Biovitrum AB (publ) to co-develop pegcetacoplan; and a research collaboration with Beam Therapeutics Inc. focused on the use of Beam's base editing technology to discover new treatments for complement-driven diseases. Apellis Pharmaceuticals, Inc. was incorporated in 2009 and is based in Waltham, Massachusetts.
Excellent liquidity position. The company can easily cover its short-term obligations with substantial cushion.
Elevated leverage. Debt exceeds equity, which amplifies both gains and risks. Monitor debt servicing ability.
Strong working capital position provides significant operational flexibility and financial cushion.
Asset-light business model with high liquidity. Majority of assets are easily convertible to cash.
Mixed signals: Strong short-term liquidity provides comfort, but high overall leverage requires careful monitoring of debt servicing capabilities and refinancing risk.
APLS โข NASDAQ
| Apellis Pharmaceuticals, Inc. Balance Sheet | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASSETS | |||||||||||||
CURRENT ASSETS | |||||||||||||
467.8M | 411.3M | 351.2M | 551.8M | 640.2M | 565.8M | 352M | 176.3M | 175.6M | 24.9M | 36M | 13.6M | 4.8M | |
0.0 | 4.8M | 1.1M | 0.0 | 61M | 311.9M | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
467.8M | 416.1M | 352.3M | 551.8M | 701.2M | 877.6M | 352M | 176.3M | 175.6M | 24.9M | 36M | 13.6M | 4.8M | |
366.2M | 271.7M | 206.4M | 7.7M | 80.1M | 25M | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 465.9K | 67.2K | |
366.2M | 271.7M | 206.4M | 7.7M | 80.1M | 25M | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 67.2K | |
0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 465.9K | 0.0 | |
142.6M | 82.5M | 146.4M | 85.7M | 24M | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 137.4K | 342.7K | |
38.3M | 9.5M | 38.8M | 36.4M | 5.2M | 3.4M | 19.8M | 24.3M | 5.1M | 1.1M | 0.0 | 137.4K | 342.7K | |
0.0 | 9.1M | 22.4M | 36.7M | 13.5M | 11.1M | 1.3M | 1.8M | 1.3M | 1.4M | 2M | 21.1K | 22K | |
1B | 789M | 766.3M | 719.5M | 824M | 917.2M | 373.1M | 202.4M | 182M | 27.4M | 38M | 14.2M | 5.2M | |
NON-CURRENT ASSETS | |||||||||||||
19.9M | 19M | 21.1M | 24.9M | 26.1M | 24.5M | 15.8M | 977.9K | 0.0 | 0.0 | 0.0 | 21.7K | 9.1K | |
0.0 | 0.0 | 3.2M | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
40.5M | 77.1M | -1.9M | 15.8M | 31.6M | 18.9M | 385.1K | 116.4K | 116.2K | 64.5K | 133.3K | 37.2K | 0.0 | |
60.4M | 96.1M | 22.4M | 40.7M | 57.7M | 43.4M | 16.2M | 1.1M | 116.2K | 64.5K | 133.3K | 58.9K | 9.1K | |
1.1B | 885.1M | 788.7M | 760.2M | 881.8M | 960.6M | 389.2M | 203.5M | 182.1M | 27.4M | 38.2M | 14.3M | 5.2M | |
LIABILITIES | |||||||||||||
CURRENT LIABILITIES | |||||||||||||
56.8M | 38.6M | 37.5M | 37.3M | 16.9M | 8.5M | 8.4M | 10.3M | 3.7M | 2.5M | 2.5M | 751.5K | 353.9K | |
56.8M | 38.6M | 37.5M | 37.3M | 16.9M | 8.5M | 8.4M | 10.3M | 3.7M | 2.5M | 2.5M | 751.5K | 353.9K | |
38.5M | 140.2M | 127.8M | 43.2M | 103.2M | 111.9M | 11.4M | 5.1M | 2.9M | 1.1M | 722.7K | 330K | 323.1K | |
100.7M | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 2.6M | 1.7M | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
0.0 | 6.8M | 6.4M | 5.6M | 4.1M | 3.7M | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
127.5M | 0.0 | 75.8M | 81.4M | 7.6M | 4.2M | 43.3M | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
323.6M | 185.5M | 247.6M | 167.6M | 131.8M | 128.3M | 65.8M | 17M | 6.6M | 3.6M | 3.2M | 1.1M | 677K | |
NON-CURRENT LIABILITIES | |||||||||||||
373.6M | 452.8M | 93M | 92.7M | 189M | 358.8M | 142.6M | 25.4M | 26.4M | 0.0 | 0.0 | 0.0 | 0.0 | |
-4M | 8M | 242.1M | 315.6M | 345.2M | 253.6M | 134.8M | 158.8K | 244.3K | 0.0 | 0.0 | 0.0 | 0.0 | |
381.5M | 471M | 346.6M | 422.7M | 551.3M | 627.7M | 289.3M | 25.5M | 26.6M | 0.0 | 0.0 | 0.0 | 0.0 | |
11.9M | 17M | 17.9M | 20M | 21.2M | 18.9M | 11.9M | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
705.1M | 656.5M | 594.2M | 590.3M | 683.1M | 756M | 355M | 42.6M | 33.2M | 3.6M | 3.2M | 1.1M | 677K | |
SHAREHOLDERS' EQUITY | |||||||||||||
0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 92.1M | 77.2M | 35.9M | 16.8M | |
12K | 12K | 12K | 11K | 10K | 8K | 6.4K | 5.6K | 5K | 843.0 | 843.0 | 978.0 | 978.0 | |
3.4B | 3.3B | 3B | 2.5B | 1.9B | 1.1B | 615.8M | 437.9M | 298.2M | 30M | 28.9M | 2M | 1.3M | |
-3B | -3B | -2.8B | -2.3B | -1.7B | -926.3M | -581.5M | -276.8M | -149.3M | -98.3M | -71.1M | -24.6M | -13.8M | |
-2.1M | -3.3M | -3.5M | -875K | -2.1M | -117K | -153.8K | -122.8K | 0.0 | 0.0 | 0.0 | -21.5K | -15.6K | |
0.0 | 0.0 | 0.0 | 0.0 | 0.0 | -1.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
370.1M | 228.5M | 194.5M | 169.9M | 198.7M | 204.6M | 34.2M | 161M | 148.9M | 23.8M | 35M | 13.2M | 4.5M | |
370.1M | 228.5M | 194.5M | 169.9M | 198.7M | 204.6M | 34.2M | 161M | 148.9M | 23.8M | 35M | 13.2M | 4.5M | |
SUMMARY | |||||||||||||
1.1B | 885.1M | 788.7M | 760.2M | 881.8M | 960.6M | 389.2M | 203.5M | 182.1M | 27.4M | 38.2M | 14.3M | 5.2M | |
0.0 | 4.8M | 4.4M | 0.0 | 61M | 311.9M | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
486.3M | 469.8M | 110.9M | 112.7M | 210.2M | 377.7M | 157M | 27M | 26.4M | 0.0 | 0.0 | 0.0 | 0.0 | |
18.5M | 58.5M | -240.3M | -439.1M | -430M | -188M | -195M | -149.2M | -149.3M | -24.9M | -36M | -13.6M | -4.8M | |
126,525,218 | 126,525,218 | 126,525,218 | 126,525,218 | 126,525,218 | 126,525,218 | 126,525,218 | 126,525,218 | 126,525,218 | 126,525,218 | 126,525,218 | 126,525,218 | 126,525,218 |
APLS - Filing history and reports
| Filing Type | Filing Date | Period Ending | Fiscal Year | Actions |
|---|---|---|---|---|
8-K 8-K 2026 N/A | May 14, 2026 | May 14, 2026 | 2026 | |
10-Q 10-Q 2026 Q1 Q1 | May 07, 2026 | March 31, 2026 | 2026 | |
8-K 8-K 2026 N/A | May 04, 2026 | April 28, 2026 | 2026 | |
10-K/A 10-K/A 2025 FY (Amended) FY | April 28, 2026 | December 31, 2025 | 2025 | |
8-K 8-K 2026 N/A | March 31, 2026 | March 30, 2026 | 2026 | |
8-K 8-K 2026 N/A | March 02, 2026 | February 27, 2026 | 2026 | |
10-K 10-K 2025 FY FY | February 24, 2026 | December 31, 2025 | 2025 | |
8-K 8-K 2026 N/A | January 12, 2026 | January 12, 2026 | 2026 | |
10-Q 10-Q 2025 Q3 Q3 | October 30, 2025 | September 30, 2025 | 2025 | |
10-Q 10-Q 2025 Q2 Q2 | July 31, 2025 | June 30, 2025 | 2025 |
Continue your APLS research with focused valuation guides.
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.