Apellis Pharma Sinks On Indication Of CHMP's Negative Opinion On Pegcetacoplan

(RTTNews) - Shares of Apellis Pharmaceuticals, Inc. (APLS) are falling more than 21 percent Thursday morning after the company said it expects the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) to give a negative opinion on its marketing authorization application for Pegcetacoplan to treat geographic atrophy.

Geographic atrophy, an advanced form of dry age-related macular degeneration (AMD), causes central vision loss.

CHMP is expected to provide its opinion on Pegcetacoplan at its next meeting scheduled between January 22 and 25.

APLS, currently at $49.56, has traded in the range of $19.83 - $94.75 in the last 1 year.