Why Apellis Pharmaceuticals Stock Was Tumbling on Tuesday [Yahoo! Finance]
ASTELLAS PHARMA UNSP/ADR (ALPMY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance
In late-session trading, investors were selling out of Apellis, to the point where its price was down by nearly 6%. By contrast, the S&P 500 (SNPINDEX: ^GSPC) index was comfortably in positive territory, with a more than 1% gain at that stage. Start Your Mornings Smarter! Wake up with Breakfast news in your inbox every market day. Sign Up For Free » Apellis unveiled those results before market hours on Tuesday, disclosing that its revenue for the quarter was just under $197 million. That was well above the more than $110 million in the same period of 2023. The company also managed to narrow its generally accepted accounting principles ( GAAP ) net loss considerably, to $57 million ($0.46 per share) from the year-ago $140 million deficit. Despite those improvements, Apellis missed analyst expectations on both the top and bottom lines. On average, prognosticators following the stock were expecting slightly over $200 million in revenue, and only a $0.29-per-share net loss. Much
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