Benzinga | Dec 15, 2021 10:14AM EST

Apellis - Sobi's Pegcetacoplan Wins European Approval For Rare Blood Disorder

* The European Commission has approved Swedish Orphan Biovitrum AB (OTC:BIOVF) - Apellis Pharmaceuticals Inc's (NASDAQ:APLS) Aspaveli (pegcetacoplan) for paroxysmal nocturnal hemoglobinuria (PNH).

* The approval covers anemic patients after treatment with a C5 inhibitor for at least three months.

* PNH is a rare blood disorder where uncontrolled complement activation leads to the destruction of oxygen-carrying red blood cells through intravascular hemolysis and extravascular hemolysis.

* The approval is based on the results from the head-to-head PEGASUS phase 3 study, which evaluated the efficacy and safety of Aspaveli compared to eculizumab at 16 weeks.

* Related Link: Raymond James Upgraded This Biopharma Stock And Sees 44% Upside.

* Price Action: APLS shares are down 1.22% at $42.11 during the market session on the last check Wednesday.