Goldman has ‘increasing comfort’ with Syfovre, starts Apellis at Buy

As previously reported, Goldman Sachs initiated coverage of Apellis with a Buy rating and $74 price target. The debate around Apellis has focused on the commercial opportunity of key driver Syfovre, an intravitreal injection for geographic atrophy, or GA, says the firm, which has “increasing comfort on Syfovre’s profile” given stabilization of the rate of retinal vasculitis at 0.01% per injection, which the firm’s physician diligence suggests is acceptable, as well as two year Phase 3 Izervay data at the American Academy Of Ophthalmology conference that “underwhelmed” key opinion leading doctors and positions Syfovre as “the more compelling treatment in GA,” the analyst tells investors.