Benzinga | May 17, 2021 07:23AM EDT

Apellis Stock Is Trading Higher On FDA Approval For Empaveli In Rare Blood Disorder

* The FDA has approved Apellis Pharmaceuticals Inc's (NASDAQ: APLS) Empaveli (pegcetacoplan) for the treatment of adults with paroxysmal nocturnal hemoglobinuria (PNH).

* PNH is a rare blood disease that causes red blood cells to break apart because the surface of a person's blood cells is missing a protein that protects them from the body's immune system.

* The drug is approved for use in adults with PNH who are treatment na?ve and patients switching from the C5 inhibitors Soliris (eculizumab) and Ultomiris (ravulizumab).

* The company says Empaveli is the first and only targeted C3 therapy for PNH.

* Price Action: APLS shares are up 10.7% at $49 during the premarket session on the last check Monday.