AcquisitionsMay 7, 2026, 07:02 AM
Apellis to be Acquired by Biogen for $41.00/Share + CVR
AI Summary
Apellis Pharmaceuticals announced a definitive agreement to be acquired by Biogen Inc. for $41.00 per share in cash, plus one contingent value right (CVR) per share, potentially adding up to $4.00 based on SYFOVRE sales milestones. This strategic transaction coincides with strong first-quarter 2026 financial results, where total revenue increased to $268.3 million and the company achieved a net income of $18.7 million, a significant improvement from a net loss in the prior year.
Key Highlights
- Apellis to be acquired by Biogen for $41.00 cash per share plus one CVR.
- CVRs offer up to $4.00 per share based on SYFOVRE net sales milestones.
- Q1 2026 total revenue rose 60.8% to $268.3 million from $166.8 million.
- Q1 2026 net income was $18.7 million, reversing Q1 2025 net loss of $92.2 million.
- Basic EPS for Q1 2026 was $0.15, up from $(0.74) in Q1 2025.
- SYFOVRE net product revenue grew 15.7% to $150.7 million in Q1 2026.
- EMPAVELI net product revenue surged 109.6% to $41.3 million in Q1 2026.
- Cash and cash equivalents were $405.2 million as of March 31, 2026.