Apellis Pharmaceuticals (APLS) Hits 2-Year High on 140% Upside from Biogen Merger

Apellis Pharmaceuticals Inc. (NASDAQ:APLS) is one of the 10 Stocks Dominating Today’s Market Surge.

Apellis Pharmaceuticals climbed to a new two-year high on Tuesday, as investors gobbled up shares following news that it was set to be acquired by Biogen Inc. at a 140-percent upside.

In intra-day trading, the stock soared to its highest price of $40.45 before trimming a few cents to finish the day just up by 135.40 percent at $40.23 apiece.

In a statement, Apellis Pharmaceuticals Inc. (NASDAQ:APLS) said that it entered into a definitive agreement with Biogen for the latter’s acquisition of its shares at a price of $41 apiece, for a total of $5.6 billion.

Apellis Pharmaceuticals (APLS) Hits 2-Year High on 140% Upside from Biogen Merger

On top of the acquisition price, shareholders would likewise receive $2 in cash for every share held, contingent on the achievement of certain annual global sales for Syfovre.

“This transaction represents a compelling outcome for our shareholders and a strong validation of our strategy, scientific innovation, and execution,” Apellis Pharmaceuticals Inc. (NASDAQ:APLS) CEO Cedric Francois said.

“With Biogen’s extensive experience with immunology and rare disease, we believe this transaction will accelerate our impact and enable us to reach more patients,” he added.

The transaction is expected to be closed in the second quarter of the year, subject to customary closing conditions, including regulatory approvals. It is expected to add immediate sales revenue to Biogen, with Apellis Pharmaceuticals Inc.’s (NASDAQ:APLS) Syfovre and Empaveli having achieved combined net sales of $689 million in 2025.

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