Apellis Pharmaceuticals' Empaveli Approved, Projected $508 Million Sales by 2033
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 21 2026
0mins
Should l Buy APLS?
Source: Benzinga
- Market Potential Unveiled: Apellis Pharmaceuticals' Empaveli received FDA approval in 2025 as the first treatment for C3 glomerulopathy, which is expected to significantly enhance the company's revenue outlook over the coming years.
- Early Commercial Performance: In Q3, Empaveli generated $27 million in U.S. net product revenue, with 267 new patient start forms recorded since its late July approval, indicating a 5% market penetration and strong acceptance.
- Competitive Advantage: The broader label of Empaveli is driving early uptake, with management asserting its efficacy surpasses Novartis' Fabhalta, projecting peak U.S. sales of $508 million by 2033, which could further elevate the company's valuation.
- Future Catalysts: Analysts noted that the anticipated filing for Syfovre's prefilled syringe in the first half of 2026 could lead to market share expansion and overall market growth, with potential impacts expected in 2027.
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Analyst Views on APLS
Wall Street analysts forecast APLS stock price to fall
14 Analyst Rating
9 Buy
5 Hold
0 Sell
Moderate Buy
Current: 41.010
Low
19.00
Averages
31.69
High
48.00
Current: 41.010
Low
19.00
Averages
31.69
High
48.00
About APLS
Apellis Pharmaceuticals, Inc. is a commercial-stage biopharmaceutical company. The Company is focused on the discovery, development and commercialization of novel therapeutic compounds to treat diseases with high unmet needs through the inhibition of the complement system. SYFOVRE (pegcetacoplan injection) is the Company’s approved treatment for geographic atrophy secondary to age-related macular degeneration (GA). Its EMPAVELI (pegcetacoplan) is for the treatment of paroxysmal nocturnal hemoglobinuria (PNH). Its Aspaveli (pegcetacoplan) for the treatment of adults with PNH who are anemic after treatment with a C5 inhibitor for at least three months. Systemic pegcetacoplan has also been approved for the treatment of PNH in Japan, Saudi Arabia, Australia, the United Kingdom and other jurisdictions. Systemic pegcetacoplan is marketed under the trade name EMPAVELI in the United States, Saudi Arabia and Australia and Aspaveli in the European Union, Japan and the United Kingdom.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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