Apellis Pharmaceuticals has been slowly rebounding from an unjustified safety scare related to its approved treatment for a common type of vision loss. Now, a competing medicine from Astellas, also recently approved, may have stumbled, which could further boost Apellis’ business outlook — and its stock price.
In a statement released Monday night, Astellas announced the “positive” outcome of an important follow-up analysis meant to demonstrate the two-year efficacy of its drug, called Izervay, in people with geographic atrophy.
I’m skeptical. The bulk of Astellas’ announcement reads like a spin job. And when I asked the company for clarifying information, it waited an entire day before responding.