Raymond James says that Syfovre’s label update was “boilerplate” and resembles similar warnings in labels of other intravitreally injected products, without reference to event rate and without a block box warning. Concurrent with the label amendment, Apellis provided an update on injection figures, which were greater than 120,000 through “mid-November.” The analyst, who remains confident in the firm’s $114M U.S. GA revenue estimate being closer to accurate than the Street’s $87M consensus forecast, is “sticking with” the forecast, which is “Street high” according to both FactSet and Visible Alpha. The firm keeps a Strong Buy rating on Apellis shares.
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