What’s behind the recent surge in Apellis’ stock price? Growing confidence in the safety of its eye treatment

Shares of Apellis Pharmaceuticals are rebounding, driven by a growing belief among some investors that the serious safety issue that has derailed Syfovre, the company’s eye disease treatment, is receding.

Declaring the crisis over is premature, but that could change with more uneventful weeks. Apellis has been a takeout target before, and may be again, at an acquisition price nearly twice its current market value.

Apellis shares rose 32% last week, with most of the gains coming Friday on heavy trading volume. The reason: There have been no new cases of retinal occlusive vasculitis, or ROV, reported in people receiving injections of Syfovre.

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