Apellis’ eye disease drug gets safety label update for rare inflammation side effect

The FDA and Apel­lis Phar­ma­ceu­ti­cals have up­dat­ed the la­bel for Syfovre — an in­jec­tion for late-stage wet age-re­lat­ed mac­u­lar de­gen­er­a­tion — to ad­dress the po­ten­tial risk of eye in­flam­ma­tion.

Apel­lis shares $APLS rose 11% on Fri­day fol­low­ing the up­date.

“The new lan­guage added to Syfovre’s la­bel is rel­a­tive­ly be­nign,” TD Cowen an­a­lyst Phil Nadeau wrote on Fri­day. Some in­vestors had feared harsh­er lan­guage in the la­bel or a po­ten­tial boxed safe­ty warn­ing from the FDA.

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