JPMorgan analyst Anupam Rama says the February 26 FDA action date for Apellis Pharmaceuticals’ pegcetacoplan in geographic atrophy is rapidly approaching. The firm anticipates approval of pegcetacoplan and a "best-in-class asset in the indication." On an approval, the analyst sees Apellis shares being valued in the low- to high- $80s share range versus downside to the $15-30/share range on a Complete Response Letter. It views a CRL as an "extremely low probability" scenario based on the totality of known data for pegcetacoplan.
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Published first on TheFly
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