Apellis Pharmaceuticals (NASDAQ:APLS) stock is on the rise Wednesday after the biopharmaceutical company announced an update on injection kits.
The big news here is new guidelines for the use of its SYFOVRE injection kits. Following rare events of retinal vasculitis in patients treated with the drug, the company is recommending doctors switch away from its 19-gauge filter needle kits.
Instead, the company says that treatments should only be given with the 18-gauge injection kits. This comes after a study of the adverse events reported. It also notes that it has switched to only distributing injection kits with the 18-gauge filter needle.
What to Know About the Adverse Events
Apellis Pharmaceuticals notes that there have been eight cases of retinal vasculitis reported out of the more than 100,000 kits distributed. In these cases, one person’s vision remained unaffected, two returned to baseline, two other patients now have severe vision impairment and three cases are still pending.
Caroline Baumal, M.D., Chief Medical Officer of Apellis Pharmaceuticals, said the following about the news:
“Based on the findings from our investigation, we believe it is prudent that practitioners only use the kits with the 18-gauge filter needle, which are already in distribution. This recommendation is out of an abundance of caution as patient safety is our top priority.”
APLS stock is up 22.7% as of Wednesday morning but still down 38.8% since the start of the year.
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
