Shares of Apellis Pharmaceuticals Inc. /zigman2/quotes/202103251/composite APLS -0.18% jumped 54% in premarket trading on Tuesday after the biopharmaceutical company said its experimental treatment for a rare blood disease met the primary efficacy endpoint in a late-stage trial. The therapy, pegcetacoplan, is being tested as a treatment for paroxysmal nocturnal hemoglobinuri against Alexion Pharmaceuticals Inc.'s Soliris. "This is excellent data and positions APLS as standard of care in Soliris non-responders," Evercore ISI analyst Umer Raffat wrote in an analyst note. Alexion's stock was down 3% Tuesday before the market opened. Apellis' stock is up 117% over the last year. The S&P 500 /zigman2/quotes/210599714/realtime SPX +0.11% has gained 28% during the same time frame.
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